The Golden Visa is an initiative to attract the best people to the United Arab Emirates. Formally promulgated under the Cabinet Resolution No. 56 of 2018 Regarding the Organization of Residence Permits for Investors, Entrepreneurs and Professional Talent, the Golden Visa offers five-year residency or ten-year residency to the categories mentioned, as well as bright students.
It is to be noted that 100% foreign ownership of companies is allowed for those in possession of a Golden Visa. This presents an excellent opportunity for anyone thinking about company registration in Dubai.
How To Get a 10-Year Golden Visa
Investors and entrepreneurs can get a ten-year Golden Visa if they make an investment of AED 10 million.
- If you are an entrepreneur, you can establish a company with a share capital of AED 10 million or greater in order to be eligible for a Golden Visa. Alternatively, you could become a partner in a company with a share capital of AED 10 million or more.
- If you consider yourself more of an investor than an entrepreneur, then all you need to do is invest AED 10 million in an investment fund based in the United Arab Emirates.
- You could do both, that is invest part of your funds in a company and the other part in an investment fund. The only condition is that the total value of your investment amounts to at least AED 10 million, with not more than 60% in real estate.
- The investment must not be loaned, and it must be retained for a minimum period of three years. You must also be financially solvent to the tune of AED 10 million.
A Golden Visa also guarantees you residency for your spouse and children as well. Additionally, one Advisor and one Executive Director of yours are also assured of a visa for ten years. In order for you to apply for the ten-year Golden Visa, it is recommended that you first apply for a six-month, multiple entry visa so that you can complete the procedures involved.
A business partner of yours too can be covered under the same Golden Visa if he/she too makes an investment of AED 10 million in the same company. Although he/she would meet independently the conditions for eligibility, the advantage here is that there would be no need to lodge a separate application.
People with special talents can also apply for a ten-year Golden Visa.
This includes researchers, scientists, innovators, specialist doctors, and also creative people who specialize in the fields of art and culture. Applicants under this category must have a valid employment contract in a specialized field of priority in the United Arab Emirates. Their spouse and children are guaranteed residency for ten years.
- If you are a scientist, you must be a holder of the holder of the Mohammed Bin Rashid Medal for Scientific Excellence or accredited by the Emirates Scientists Council.
- If you are a creative individual belonging to the realms of art and/or culture, you must be accredited by the Ministry of Culture and Youth.
- If you are an innovator or an inventor, you must have obtained a patent that adds value to the economy of the United Arab Emirates. This patent must be approved by the Ministry of Economy.
- If you are a researcher, your scientific research must have been published in a world-class journal.
- If you are a top business leader, you must own a leading company that is recognized worldwide. You could also hold a very high position and have an exceptionally high academic achievement to your name.
- If you are a specialist, you need to fulfill two criteria from the following
- Your specialization must be in a specialized field of priority in the United Arab Emirates
- You must hold a PhD from one the top 500 universities in the world
- You must hold a PhD degree and have ten years of experience in your field
- You must have contributed to major scientific research in your field
- You must have published scientific books or articles in distinguished publications in your field
- You must have received an award or a Certificate of Appreciation in your line of work
- You must be a member of an professional organization that is related to your field
How To Get a 5-Year Golden Visa
The five-year Golden Visa is available to investors, entrepreneurs, and outstanding students.
- If you are an investor, you must invest in property that is valued at AED 5 million. The funding for this investment must not be secured by means of a loan, and you must retain the property for three years.
- If you are an entrepreneur, you must have an existing project which has a capital of at least AED 500,000 or the approval of an accredited business incubator in the United Arab Emirates.
A five-year Golden Visa guarantees you of residency for your spouse and children, for the same period. One business partner and three executives are also covered by this visa. In other words, they too are assured of residency for five years. It is recommended that you first avail of a six-month, multiple entry visa to complete the application process for the five-year Golden Visa. In case you are not able to complete the process within the first six months, your visa can be renewed for another six months.
- If you have completed your school studies, you must have secured a grade of 95% in a private or public secondary school. If you have completed your college studies, you must have attained a distinction GPA of 3.75 or more upon graduation.
It is to be noted that upon expiry of your Golden Visa, you are eligible for automatic renewal. In other words, there is no need to go through the application process again.
Need Help Getting a Golden Visa?
At A&A Associate LLC, we have years of experience helping investors, entrepreneurs and highly talented people secure visas. As leading offshore business setup consultants in Dubai, we have been of assistance to clients from 100 countries all over the world. We also have a 98% client satisfaction rate to speak of so far.
If you would like to receive a Golden Visa, you can give us a call at +971 56 4086728, send us an email, or contact us using the form below to get started.