What Is the UAE Golden Visa?
Generally speaking, visas are a form of identification and documentation issued by a country’s government, allowing travellers to enter that same foreign country and stay in it. Visas can be either temporary or permanent, serving a function similar to passports. They also determine the length of time, reasons and the number of entries the holder has in the destination country. This way, the intentions of foreigners entering the country are clarified.
So, how is the UAE Golden visa different from the typical one? Why is it so sought-after? Continue reading our guide to discover what is the UAE Golden visa, the eligibility criteria, the UAE Golden visa requirements, and how to apply.
An Overview of the UAE Golden Visa
According to the United Arab Emirates government portal, the Golden Residency Program, known as the UAE Golden visa, was launched by the Emiratian government to grant foreigners five or ten years of residency without needing a sponsor in the UAE.
Therefore, the Golden visa is a long-term resident visa, enabling eligible foreigners to work, study, and live in the UAE while offering them various benefits during their stay. Regarding the requirements and eligibility criteria for the visa, they vary depending on the type of residence, whether investor, talent, entrepreneur, etc.
The UAE Golden Visa Eligibility Criteria
Before learning how to apply for the UAE golden visa, it is important to check whether or not you meet the eligibility criteria. You are eligible to apply if you are:
1. An Investor in a Public Investment
Public investment in this context refers to an investment fund, which may grant you a Golden Visa for 10 years without a sponsor. If this applies to you, you must fulfil the following UAE Golden visa requirements to receive the visa:
- Having a Deposit of AED Two Million: You must submit an accredited letter from the investment fund as proof of this deposit with your application.
- Having a Capital of No Less Than AED Two Million: A valid commercial or industrial licence and a memorandum of association serve as proof.
- Paying the Government No Less Than AED 250,000 Each Year: Submit a letter from the Federal Tax authority to state this commitment to payments.
- Owning the Invested Capital Completely: It cannot be a loan.
- Providing Proof of Medical Insurance: for yourself and your family (if any).
2. A Real Estate Investor
Owning a property (or many properties) makes you eligible to apply for the Golden visa for five years of residency. At the end of these five years, the Golden visa can be renewed under the same conditions and without a sponsor. The UAE Golden visa requirements are as follows for real estate investors:
- Owning one or more properties, the value of which is not less than AED 2 million.
- Purchasing said properties with a loan borrowed from a specific local bank approved by the competent local entity.
3. An Entrepreneur
Entrepreneurs are encouraged to move to Abu Dhabi through the UAE Golden visa. So, if you are an entrepreneur owning an economic business or project of a technical or future nature, and if it is based on risk and innovation, the UAE Golden visa will get you five years of residency.
In such case, you need to meet the UAE Golden visa requirements for entrepreneurs, which include having an approval letter from the following:
- An auditor based in the UAE to prove your project’s worth, as it cannot be less than AED 500,000.
- The authorities in Abu Dhabi stating that your project is of a technical or future nature.
- An accredited business incubator in the UAE to establish the proposed project in the country.
4. An Outstanding Specialised Talent
These talented individuals refer to the following:
- Creative people in fields of culture and art.
- Specialists in scientific and engineering fields.
- Doctoral degree holders.
Each category has its own UAE Golden visa requirements that foreigners must meet to get the visa. It is worth noting that if you identify as an outstanding specialised talent according to the above criteria, you can get ten years of residency in the UAE with the Golden visa.
Golden Visa Application Process
The application process is simple, and it takes place entirely online. First, you need to choose the category describing you best. This is an important step as it will determine whether you need to make a significant investment or collect recommendation letters and certificates.
Following that, you can access the UAE Golden Visa application portal online to start your application, fill in all the necessary details and information related to your category of choice, and upload all required documents.
Before submitting the application, you must pay the visa fee through your credit card online, and the fee varies according to where you’re applying from and your category. Generally speaking, It takes about 30 days to process your application, send you an approval letter and details regarding the next steps.
The UAE Golden Visa and Al Dar
To qualify for the UAE real estate Golden visa, you must own a property worth no less than AED 2 million. Accordingly, you can invest in an Al Dar residential property worth the same amount and become eligible. If the property is under a mortgage, the investor cannot be eligible unless it is worth more than AED 2 million.
Al Dar is a leading real estate developer in Abu Dhabi, providing elegant residential properties meeting every investor’s needs and preferences. Al Dar properties are known for their innovative designs, luxurious lifestyle, amenities, and beautiful locations that celebrate nature, especially with Al Dar properties' implementing environment-friendly designs.
If you want to become eligible for the UAE Golden visa, you can invest in Al Dar's residential properties
and have a long-term home in Abu Dhabi.