How To Get A Golden Visa In The UAE

The UAE is fast becoming one of the world’s biggest economies, ranking as 4th largest in the Middle East and attracting entrepreneurs from around the world.

For investors and business leaders looking to break into this emerging economy, the UAE has announced its Golden visa programme. Here, we talk you through everything you need to know, including criteria for applying and why a move to the UAE might be a good idea.

 

Why Move To The UAE?

 

Here are a few reasons why entrepreneurs might want to live and work in the Emirates.

 

Economy

The UAE is one of the fastest growing economies in the Middle East, with big sectors like finance, tech and tourism thriving there. It is also perfectly placed in the middle of Europe, Africa and Asia, making it a good location for trade.

 

Tax

Maybe one of the most appealing reasons to move to the UAE: No income tax. This has attracted hoards of business people looking to operate in a more tax efficient way.

 

Standard of Living

With high levels of safety, great infrastructure and top education and healthcare, the UAE is not only a good place to work, but a good place to live too.

 

The UAE Golden Visa

The government is investing in attracting entrepreneurs through its Golden Visa. Through this scheme, investors, business people and entrepreneurs can work and live in the country for 5-10 years.

This makes it particularly appealing as it shows that the UAE is encouraging businesses into the country, making it a better economic environment for everyone.

 

 

What Do You Get With The UAE Golden Visa?

 

The UAE Golden Visa is designed to attract and retain top talent. As part of the visa, applicants get:

• A 6 month entry visa, allowing you to arrange residency once on the ground.
• Residency between 5-10 years that can be renewed.
• Family visas, allowing them to bring along spouses, children and domestic staff.
  • Note: The family can still stay in the UAE if the primary visa holder passes away.
• Tax free income.
• Ability to work for any company in the UAE, meaning applicants aren’t stuck with one company or sponsor if they don’t want to be.
• A driving licence (only from 32 approved countries).

 

 

Who Is Eligible For The UAE Golden Visa?

 

To be eligible for the UAE Golden Visa you need to hit the following criteria:

 

Investors and Property Owners

Investors can apply for the visa, but they must have at least AED 2 million (4545,000) in a UAE bank for at least two years.

For those looking to invest in real estate, investors must either have a property worth AED 2 million, or provide proof that they are investing that value in a property that will be built to get the visa.

For those looking to invest in businesses, this minimum sum can also be invested in a company’s capital. However, this is subject to corporate tax laws in the UAE, so it’s worth investigating before proceeding.

 

Businesspeople

If entrepreneurs want to apply for the Golden Visa they must either:

• Be part-owner in a SME within the UAE that is valued at least AED 500,000.
• Run a business that is focused on technological and future advancement.
• Have written support from a startup incubator.

 

Skilled professionals

For talented working professionals, the Golden Visa will be approved as long as they have:

• Proof of employment in a senior role for no less than 5 years
• A degree up to bachelors level
• Earn at least AED 50,000
• A valid work contract

The visa can also be applied to professionals like doctors, scientists and athletes.

 

Students and Graduates

Students that performed within the 95th percentile could get a Golden Visa of up to 5 years.

They have to have got a minimum of 95% average on all public exams and plan to study in the country for up to 5 years.

For University students, they must have a GPA of at least 3.5 and have an undergrad degree from a top 100 university.

The Golden Visa can also be granted to humanitarian workers and frontline heroes, designed to serve causes that benefit Emirati society.

 

How To Apply For The UAE Golden Visa

 

Once you have established that you are eligible for the visa, you will need to pull the documents together. This includes a passport, proof of investment and academic achievements, financial records, medical insurance and endorsement letters.

Once you have submitted your application to the Federal Authority for Identity, Citizenship, Customs, and Port Security (ICP), you will be able to track your visa status.

Once approved, your visa will be issued to enter the UAE. On arrival, you will need to do some medical testing to get full residency.

 

The UAE Golden Visa

 

Getting a UAE Golden Visa can be a great way to enjoy the economic opportunities in the UAE.

With the right planning, you can make your application a breeze – so you can focus on setting up your new venture abroad.