Golden Visa in Dubai A Comprehensive Guide in 2023

Dubai has recently introduced the Golden Visa program, which offers long-term residency visas to eligible applicants. The Golden Visa is part of the UAE government’s efforts to attract foreign investors, entrepreneurs, and skilled professionals to the country. In this blog, we will discuss the Golden Visa program, its purpose, and the benefits it offers to eligible applicants.

The Golden Visa in Dubai is a special type of visa that allows foreign nationals to stay in the UAE for an extended period, ranging from five to ten years. The program was launched in 2019 and has since attracted a significant number of investors, entrepreneurs, and skilled professionals to Dubai.

The purpose of the Golden Visa program is to encourage foreign investment, talent, and entrepreneurship in the UAE. It is also designed to support the country’s economic diversification and growth plans, which include the development of a knowledge-based economy and the promotion of innovation and technology.

The Golden Visa is not only beneficial to individuals but also to the UAE economy. By attracting foreign investment, talent, and entrepreneurship, the program helps create new job opportunities, drive innovation and increase economic competitiveness.

In the following sections, we will explore the eligibility criteria for the Golden Visa program and the application process in detail.

 Eligibility Criteria for the Golden Visa Program in Dubai

 The eligibility criteria for the Golden Visa program in Dubai vary depending on the category of the visa. Below are the eligibility criteria for some of the categories:

• Investors: To be eligible for a Golden Visa under the investor category, an individual must meet one of the following criteria:

• Invest a minimum of AED 2 million in an investment fund or company that is registered in the UAE.
• Own a company in the UAE with a minimum capital of AED 2 million.
• Partner in a company in the UAE with a minimum share value of AED 2 million.

• This service allows the real estate investor who owns a property equally valued at AED 2 million or more at the time of purchase to apply for a 10 years renewable residency visa, and the husband or wife and children can be sponsored.

• Minimum 2 million value property or owned share ( one property or more ) under the applicant’s name
• In case the property is mortgaged, a NOC letter from the bank to issue a visa on the property and shows the paid and remaining amounts

Meeting the eligibility criteria is the first step towards obtaining a Golden Visa in Dubai. Applicants must also go through the application process, which includes providing necessary documents and undergoing a security check.

 Application Process

 Pre-application requirements

• Meeting the eligibility criteria as per the visa category
• Obtaining a health insurance policy in Dubai
• Providing biometric data, such as fingerprints and photographs, at the visa application center

• Document submission

• Passport copy and visa application form
• Passport-size photographs
• Proof of investment, such as property deeds or investment certificates, for investors
• Proof of business ownership, such as a trade license or business registration certificate, for entrepreneurs
• Evidence of specialized talent or research in the form of academic qualifications or publications, for specialized talents and researchers
• Academic transcripts and a letter of recommendation from the educational institution, for outstanding students
• Proof of executive leadership experience, such as board membership or executive management positions, for executive directors

 Application fees

The cost of the Golden Visa application varies depending on the category and duration of the visa.

• Once the application is approved, the applicant will receive a residence visa, which is valid for up to 10 years.
• The Golden Visa also allows the applicant to sponsor dependents, including spouse and children.
• It’s important to note that the application process and requirements may vary depending on the category of the Golden Visa and the applicant’s individual circumstances. Therefore, it’s recommended to consult with a reputable immigration consultant or lawyer to ensure a smooth and successful application process.

Benefits of the Golden Visa

The Golden Visa in Dubai offers a range of benefits to the visa holders, which includes:

• Long-term residency:

The Golden Visa in Dubai provides long-term residency for up to 10 years to the eligible individuals. This allows visa holders to stay in Dubai for an extended period without the need to renew their visas frequently. This is particularly beneficial for individuals who are looking to establish their businesses or careers in Dubai.

• Work and travel flexibility:

Golden Visa holders in Dubai can enjoy work and travel flexibility without having to worry about the visa expiration. This means they can work, travel and conduct business in and out of the UAE as per their convenience.

• Eligibility for citizenship:

Golden Visa holders in Dubai may also be eligible for citizenship in the future. This is particularly beneficial for individuals who wish to settle in Dubai for the long-term.

• Sponsorship of family members:

Golden Visa holders in Dubai can also sponsor their immediate family members to come and stay with them in Dubai. This includes their spouse, children, and parents. This means that visa holders can keep their family close to them and have the flexibility to travel in and out of the UAE with them.

Overall, the Golden Visa in Dubai provides a range of benefits that are particularly attractive for entrepreneurs, investors, and professionals who are looking to establish themselves in Dubai for the long-term.

In summary, the Golden Visa in Dubai is a highly desirable and sought-after residency visa that provides several benefits to eligible individuals. These benefits include long-term residency, work and travel flexibility, eligibility for citizenship, and sponsorship of family members.

However, the application process can be complex, and it is essential to meet the eligibility criteria and submit all required documents to ensure a successful application. Therefore, seeking professional guidance from experts in this field is highly recommended.

• Golden Visa is an excellent opportunity for investors, entrepreneurs, specialized talents, researchers, outstanding students, and executive directors to establish a long-term presence in Dubai and the UAE.