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Golden Visa Requirements and Conditions in the UAE

The Golden Visa initiative was established in alignment with Resolution No. 56/2018, endorsed by the United Arab Emirates cabinet. This program aims to provide support to individuals interested in investing in the country and those possessing specific qualifications that meet the criteria for obtaining long-term residency visas within the United Arab Emirates.

Extended Residency Visas in the UAE

The UAE introduced new categories of long-term residence visas as per Cabinet Decision No. 56/2018. These visas are designed for exceptional talents, entrepreneurs, and businesspersons seeking to invest to obtain long-term residence permits, commonly referred to as “Golden Visas.” Under these new visa categories, individuals of non-national origin can now live, work, and pursue education in the United Arab Emirates without requiring domestic sponsorship. Moreover, they are granted the privilege of owning 100% of businesses located on the country’s mainland. The General Directorate will issue long-term UAE visas that automatically renew for periods of either five or ten years.

Requirements for Obtaining Visas in the UAE Without a Sponsor

To secure a 10-year visa in the UAE without the need for a sponsor, certain specific conditions and criteria must be met. These prerequisites include:

1. Minimum Investment in Public Securities: A minimum investment of 10 million AED in public securities is mandatory.

2. Investment Fund Deposit: Another option is to deposit a minimum of 10 million AED into any investment fund within the UAE.

3. Capital Investment in a UAE Business: Investors can also opt to make a capital investment of at least 10 million AED in any business operating within the UAE.

4. Ownership of Business Shares: Investing in the shares of a UAE-based business, whether it’s a new venture or an existing legal entity, is a valid pathway to fulfilling the visa requirements.

5. Percentage of Public Investment: A key condition is that the minimum investment of 10 million AED, excluding real estate investments, should constitute at least 60% of the overall investment portfolio.

Additional Conditions for Visa Approval:

1. Non-Loan Investment: The invested amount should not be in the form of a loan; it must be an actual capital investment.

2. Three-Year Lock-in Period: The invested capital should remain in the designated account for a minimum of three years.

3. Financial Stability Guarantee: Investors need to demonstrate financial stability, with the capability to cover up to 10 million AED.

4. Visa Benefits for Partners: When each partner contributes ten million AED, all partners can benefit from the visa privileges, including an extended range of visa options.

5. Visa Inclusions: Visa entitlements encompass one executive director, one advisor, the spouse, and any dependents. Additionally, international businessmen are eligible for a six-month multiple-entry visa.

Conditions for Real Estate Investors in the UAE:

Contractor Conditions:

Within this classification, projects with a value of 500,000 AED or more are encompassed. Accredited incubators in the country possess the authority to grant licenses for these projects.

Entrepreneurs:

Entrepreneurs are entitled to a multiple-entry visa, valid for 6 months, which allows them to enter the country and apply for an extended stay visa. The extended visa covers the primary entrepreneur, one partner, and up to three executives.

Foreign Entrepreneurs:

Foreign entrepreneurs can seek a 6-month multiple-entry permit, granting them flexibility for their activities in the country.

Foreign Professionals:

Foreign professionals have the option to apply for a 6-month multiple-entry permit and, notably, visa eligibility for up to 5 years without the requirement of a sponsor.

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Professional Talent:

This category encompasses individuals like researchers and specialists in various fields of knowledge, such as doctors, scientists, and innovators, as well as creative individuals in the fields of culture and art. Additionally, the spouses and dependents of these individuals can obtain a visa extension for up to 5 years. It is important to note that having a current work agreement in the United Arab Emirates is a prerequisite for all categories mentioned above.

For individuals interested in real estate investment in the UAE, the following conditions apply:

1. Minimum Property Investment: A minimum investment of 5 million AED in real estate by foreign investors is required.

2. Non-Loan Investment: The invested amount in real estate should not be provided in the form of a loan.

3. Three-Year Holding Period: The real estate assets must be held for at least three years.

Requirements for Scientists to Obtain Golden Visas:

To be eligible for a Golden Visa as a scientist, individuals must meet the following criteria:

1. Authorization by the UAE Science Council or possession of the Mohammed Bin Rashid Award for Scientific Excellence.

Requirements for Artists to Obtain Golden Visas:

For artists aiming to obtain a Golden Visa, recognition and certification by the Ministry of Culture are mandatory.

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Requirements for Inventors to Obtain Visas:

Inventors seeking a Golden Visa must fulfill the following conditions:

1. Acquisition of a valuable patent that contributes to the UAE’s economic growth. Permission from the Ministry of Economy is required for patent approval.
2. Exceptional capabilities demonstrated through scientific studies and patents published in globally recognized journals for further verification.
3. Ownership of worldwide recognition and a strong academic background in relevant fields for executive inventors.

Requirements for Medical Specialists and Doctors:

Medical specialists and doctors must meet the following mandatory criteria:

1. Hold a Ph.D. from one of the top 500 global institutions (refer to ICA for information).
2. Provide a letter of commendation or certification that acknowledges the applicant’s practical contributions to fieldwork within their expertise.
3. Contribute significantly to a scientific study within their area of expertise.
4. Have published books or articles in esteemed journals and be a member of a field-related organization.
5. Active participation in a field-related organization.
6. Possess a doctoral degree and additional professional experience of no less than 10 years in their field of interest.
7. Demonstrate a commitment to addressing core state issues.

In Conclusion:

The UAE Cabinet approved Resolution No. 56/2018, outlining the criteria for Permanent Residence Permits, commonly known as the Golden Visa. This program is designed for various categories, including specialized talents and entrepreneurs who meet the specified conditions and standards detailed above. For any further inquiries or assistance, please feel free to contact gulfadvocates Lawyers in Dubai. We are always ready to assist you!

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