The United Arab Emirates (UAE) continues to be a top choice for global investment and innovation. If you’ve ever dreamt of living, working, or investing in this dynamic nation, then the UAE’s Golden Visa program might be your key. This 2024, securing residency for ten years has become even more attractive.
This blog delves into the latest golden visa requirements and eligibility criteria for obtaining a Golden Visa in the UAE.
Whether you’re a seasoned investor, a high-flying professional, or a brilliant young mind, we’ll explore the various pathways to unlock the doors to a thriving future in the Emirates.
Live, Work, and Thrive in the UAE with the Golden Visa Program!
The Golden Visa offers long-term residency options in the UAE and offers a wealth of advantages for talented individuals and their families.
Here’s what you can look forward to:
- Long-term residency: Stay in the UAE for 5 or 10 years, with the option to renew.
- Freed from sponsorship: Live and work independently, without the need for a local sponsor company.
- Travel flexibility: Enjoy extended stays outside the UAE without jeopardising your visa validity.
- Family by your side: Sponsor your spouse and children, regardless of their age.
- Support network: Bring in domestic helpers to ease the burden of daily life.
- Peace of mind for families: In the event of the primary visa holder’s passing, family members can remain in the UAE until their visa expires.
Golden Visa Requirements for Investors
The UAE Golden Visa caters to different residency goals. Investors can qualify through various routes, each with its requirements. Here, we’ll explore the options for investors in public investments:
Investing for Residency:
- 10-Year Golden Visa: Secure a sponsor-free residency for a decade by fulfilling one of the following criteria:
- Investment Fund Deposit: Invest a minimum of AED 2 million (approx. $545,000) in a UAE-accredited investment fund, as verified by a letter from the fund itself.
- Company Ownership: Establish a business with a minimum capital of AED 2 million. Proof of this capital and your ownership stake will be required through a valid commercial or industrial license and a memorandum of association.
- Annual Government Tax Contribution: Demonstrate annual government tax payments of at least AED 250,000, documented by a letter from the Federal Tax Authority.
- Additional Requirements:
- Full Ownership: The invested capital must be entirely yours, not a loan.
- Medical Insurance: Proof of comprehensive health insurance coverage for yourself and your dependents (if applicable) is mandatory.
Golden Visa Requirements for Real Estate Investors
- Unlock 5-Year Residency: Own a property or a group of properties with a combined value of at least AED 2 million (approx. $545,000). This will grant you a 5-year Golden Visa, renewable under the same conditions and without the need for a sponsor.
- Verification of Ownership: Secure a letter from the Land Department of the relevant emirate confirming your ownership of the qualifying property/properties.
- Loan Options: Financing your property purchase through specific local banks approved by the authorities can also satisfy the investment criteria.
Golden Visa Requirements for Entrepreneurs
- Embrace Innovation (5-Year Visa): If you’re an entrepreneur with a groundbreaking idea, you can qualify for a 5-year Golden Visa by establishing a business focused on:
- Technical Expertise: Your project should demonstrate a strong foundation in technical innovation.
- Future-Oriented Solutions: The concept should address challenges or opportunities of the future.
- Risk Management: The business plan should clearly understand and mitigate potential risks.
- Gathering Approvals: To validate your project’s eligibility, you’ll need approval letters from:
- A UAE auditor, confirming a minimum project value of AED 500,000.
- The relevant emirate’s authorities endorse the project’s innovative and future-oriented nature.
- An accredited UAE business incubator is willing to support your venture’s establishment in the country.
UAE Golden Visa for Brilliant Minds
The UAE Golden Visa program extends a 10-year residency option to individuals with exceptional abilities and achievements.
Outstanding Specialised Talents
- Doctors- To qualify, you’ll need a letter of approval to practice medicine issued by the UAE Ministry of Health and Prevention.
- Scientists- Letter of recommendation from the Emirates Council of Scientists or the Secretariat of the Mohammed bin Rashid Medal for Scientific Excellence. Additionally, receiving the prestigious Medal of Scientific Excellence itself grants eligibility.
- Creative people of culture and art- secure an approval letter from the relevant emirate’s Department of Culture and Arts is essential
- Inventors-If your invention holds significant economic value for the UAE, a recommendation letter from the Ministry of Economy will secure your Golden Visa.
- Executive Directors
- You must possess a bachelor’s degree or higher accredited by the UAE Ministry of Education.
- Demonstrate your leadership capabilities with a letter of experience confirming that you’ve held the position of Executive Director (or a similar role) for a minimum of 5 years.
- Your current salary must be at least AED 50,000 per month, as verified by a salary certificate.
- Hold a valid work contract that confirms your current employment as an Executive Director.
- Athletes- A recommendation letter from the General Sports Authority or one of the sports councils
- Doctoral degree holders- A copy of a Bachelor’s or a Master’s degree certified bythe Ministry of Education and a work contract.
Subjects Relating to Engineering and Science
- Epidemiology and viruses
- Artificial intelligence
- Big data
- Computer engineering
- Electronic engineering
- Software engineering
- Electrical engineering
- Genetics and biotechnology engineering.
Golden Visa for Academic Excellence
The UAE recognises the potential of bright young minds and offers Golden Visa opportunities to exceptional students in two categories:
High School Standouts
- National Toppers: If you’re a high school graduate with a minimum score of 95% from a public or private secondary school in the UAE and ranked among the national toppers, you’re eligible for a 5-year Golden Visa.
- Recommendation Required: To secure this visa, you’ll need a recommendation letter from the Ministry of Education (Emirates Schools Establishment).
- Extension Option: Your Golden Visa can be extended if you choose to pursue higher education in the UAE for programs exceeding five years.
University Stars
If you’re a university student with exceptional academic achievements, you can qualify for a 10-year Golden Visa.
- Eligibility Criteria:
- Your university must be ranked Class A or B by the UAE Ministry of Education.
- You must submit either a recommendation letter from your university or an accredited graduation certificate and academic record demonstrating a cumulative GPA of at least 3.5 for Class A universities and 3.8 for Class B universities.
- Graduation must have occurred within the past two years.
International Recognition
Outstanding students from foreign universities ranked among the top 100 globally (according to the Ministry of Education’s recognised rating system) can also apply. They must meet the same GPA and graduation timeframe requirements, and their graduation certificates must be accredited by the Ministry of Education.
UAE Golden Visa as Pioneers of Humanity
The UAE Golden Visa program acknowledges the dedication and contributions of those who strive to make the world a better place. Here’s an overview of the eligibility criteria for two categories within this program:
Pioneers of Humanitarian Work:
- Dedication for a Cause: The program recognises individuals who have dedicated themselves to humanitarian efforts for a minimum of five years, falling under one of the following categories:
- Members and Outstanding Employees: Those who have demonstrably contributed to international or regional organisations or civil associations and public interest institutions focused on humanitarian work qualify.
- Award Recipients: Individuals who have received appreciation awards from recognised organisations within the local, regional, or international sphere for their humanitarian work are also eligible.
- Financial Supporters: Individuals who have provided financial support to humanitarian causes, with a minimum contribution of AED 2 million (approx. $545,000), can also apply.
- Frontline Heroes:
- Recognising Selfless Service: The UAE salutes the exceptional efforts of frontline heroes who have displayed extraordinary dedication during times of crisis, such as the COVID-19 pandemic.
- Eligible Professions: This category includes medical professionals like nurses, medical assistants, lab technicians, pharmacologists, and other cadres officially recognised by the Frontline Heroes Office.
- Recommendation Required: To qualify, a recommendation from a competent authority is necessary.
Conclusion
The UAE Golden Visa program offers a unique pathway for talented individuals, investors, and exceptional students to live, work, and thrive in this dynamic nation. With various categories and updated requirements for 2024, there’s a potential path for individuals seeking to contribute their skills, knowledge, and innovative spirit to the UAE’s vibrant future.
We encourage you to explore the program further, assess your eligibility under the various categories, and embark on a new chapter in the UAE. Remember, this blog serves as a general overview, and it’s always recommended to consult with official UAE government resources or authorised immigration professionals for the most up-to-date and specific information relevant to your situation.
