Dreaming of a life bathed in sunshine, brimming with opportunity, and offering long-term stability? Look no further than the UAE’s Golden Residency program. This program is attracting global attention, promising a gateway to a vibrant future in one of the world’s most dynamic regions.
But what exactly is the Golden Residency, and who qualifies for this exclusive opportunity? In this blog post, we’ll delve into the details, clarifying the program’s benefits, eligibility criteria, and application process. So, buckle up, aspiring residents, and get ready to unlock the secrets of the UAE’s Golden Residency!
About Golden Residency in the UAE
The United Arab Emirates (UAE) has rolled out a revolutionary program – the Golden Residency. This game-changer offers talented individuals the chance to live and work in the UAE for ten years without the need for an employer sponsor.
The program extends its golden welcome to a diverse range of individuals, including:
- Researchers and outstanding students
- Medical professionals like doctors and specialists
- Pioneering innovators and talented athletes
- Entrepreneurs and investors in various sectors (economics, real estate, and startups)
The program’s reach extends further, granting residency not just to these individuals but also to their families.
This visionary initiative aims to foster an enticing environment that empowers talented minds to contribute to the UAE’s ongoing success story. By attracting individuals who excel in fields like creativity, research and development, healthcare, agriculture, financial services, and startups, the UAE hopes to solidify its position as a global leader in these crucial areas.
Nominated Categories for Golden Residency
The UAE Golden Residency program offers long-term residency (10 years) without the need for a sponsor for various categories:
Investment:
- Real Estate Investors: Invest in UAE property.
- Public Investment: Be an owner, partner, or depositor in a UAE company or bank.
Entrepreneurship:
- Successful Project Owners: Own successful projects in the UAE.
Individuals with Exceptional Skills:
- Talented Pioneers: Doctors, inventors, creators, engineers, and humanitarian pioneers.
- Graduates of Accredited Universities (UAE): Hold a degree from an accredited UAE university.
- High-Performing High School Graduates (UAE): Graduated top of their class from a UAE high school.
- Graduates of Accredited Universities (Outside UAE): Hold a degree from an accredited university outside the UAE (new as of February 2024).
- Front Line Heroes: Recognized for their service and contribution.
- Scientists & Specialists: Hold expertise in various fields or are highly skilled workers.
- Humanitarian Pioneers: Made significant contributions to humanitarian work.
Benefits of the UAE’s Golden Visa
The UAE Golden Visa program offers a suite of enticing benefits that go beyond just a 10-year residency permit. Here’s a breakdown of the key advantages:
For Investors
Enjoy a 6-month multiple-entry visa to assess business opportunities in the UAE before committing to a project. Upon establishing your business and meeting regulations, convert to a 10-year Golden Visa for long-term peace of mind.
For Residents
Existing residents can convert their visa to a Golden Visa within a 1-month period. Residents with Golden Visas can sponsor their spouses, children, and parents to join them in the UAE.
For Entrepreneurs and Students
As an entrepreneur, you can nominate 3 employees or partners for Golden Visas to support your venture. Outstanding students with financial capability can also sponsor their families.
Additional Advantages
The Golden Visa opens doors to investing in diverse sectors like real estate, trade, and industry. Enjoy the convenience of a multiple-entry visa for frequent travel (specific duration may vary).
Eligibility Criteria for the Golden Residency Program
Eligibility criteria for the Golden Visa program vary depending on the category. Here are the outlined conditions for each:
Investor in Public Investment
- Have a business idea or business plan to establish legally in the UAE.
- Provide a letter from an approved investment fund in the UAE confirming a deposit of at least 2 million dirhams OR possess a valid commercial or industrial license with the company’s incorporation contract, ensuring the investor’s capital is not less than 2 million dirhams.
- Alternatively, provide a letter from the Federal Tax Authority indicating ownership of a company that pays the government no less than 250,000 dirhams annually.
Real Estate Investor
- Obtain a letter from the Real Estate Registration Department in the relevant emirate confirming ownership of one or more properties valued at a minimum of 2 million dirhams, free from any loans.
- Provide proof of housing in the country, either through home ownership or a house rental contract.
Entrepreneurs
- Obtain an approval letter from a UAE auditor stating that the project value is not less than 500,000 dirhams (for project owners).
- Obtain an approval letter from the authorities in the emirate recognizing the project’s technical or future-oriented nature (for project owners).
- Obtain an approval letter from an accredited business incubator in the UAE to establish the proposed activity in the country (for founders of the project).
- Provide a valid passport copy.
- Possess valid health insurance coverage for at least one year, extendable.
- Show proof of housing in the country, either through home ownership or a house rental contract.
Outstanding Specialized Talents
Talented People (Doctors and Scientists)
- Provide an approval letter from the Ministry of Health in the country to practice the medical profession (for doctors).
- Obtain a recommendation letter from the Emirates Council of Scientists or a letter from the Secretariat of the Sheikh Mohammed bin Rashid Al Maktoum Award for Academic Excellence, confirming the recipient’s Academic Excellence Medal (for scholars).
- Provide a valid passport copy.
- Possess valid health insurance coverage for at least one year, extendable.
Creative People in the Fields of Culture, Art, and Innovators
- Obtain an approved letter from the Department of Culture and Arts in the relevant emirate (for people of culture and art).
- Obtain a recommendation letter from the Ministry of Economy (for inventors).
- Provide a valid passport copy.
- Possess valid health insurance coverage for at least one year, extendable.
Executive Directors
- Hold a certified university degree.
- Have a minimum of 5 years of experience.
- Earn a salary of not less than AED 50,000.
- Possess a valid work contract.
- Provide a valid passport copy.
- Possess valid health insurance coverage for at least one year, extendable.
Specialists in the Fields of Science and Athletes
- Hold a specialized certificate in one of the specified rare fields determined by the authorities in the country (for scientific fields of priority).
- Obtain a recommendation letter from the General Sports Authority or one of the sports councils (for athletes).
- Provide a valid passport copy.
- Possess valid health insurance coverage for at least one year, extendable.
Holders of Doctoral Degrees and Specialists in the Fields of Engineering and Science
- Provide a certified copy of the Ph.D. from the Ministry of Education in one of the priority disciplines (for Ph.D. degrees).
- Present a certified copy of the university degree from the Ministry of Education in one of the mentioned majors (for engineering and science fields).
- Possess a work contract for a profession in one of the mentioned specializations (for engineering and science fields).
- Provide a valid passport copy.
- Possess valid health insurance coverage for at least one year, extendable.
Outstanding Students
Outstanding High School Students
- Bring a recommendation letter from the Ministry of Education.
- The duration of the Golden Visa is 5 years for high school students without the need for a sponsor within the UAE. It may be extended if the student enrolls in a specialty or college in the UAE requiring a study period longer than 5 years (such as medical universities).
- Students may sponsor their parents and siblings, subject to the conditions and requirements set by the Federal Authority for Identity and Citizenship.
Outstanding University Students
- Obtain a recommendation letter from the university stating a GPA of not less than 3.8.
- The duration of the Golden Visa is 10 years for university students. Students may sponsor their parents and siblings, subject to the conditions and requirements set by the Federal Authority for Identity and Citizenship.
- Students can also sponsor their families (spouse and children) if they have the financial potential.
Conclusion
The UAE’s Golden Residency program offers a unique opportunity for talented individuals and investors to live, work, and study in the country with long-term stability and freedom. Whether you’re an entrepreneur, scientist, exceptional student, or a qualified professional, the Golden Visa provides a pathway to establish yourself in the dynamic and thriving Emirati society.
If you’re considering a move to the UAE and possess the qualifications, pursuing the Golden Residency could be a stepping stone towards an exciting and fulfilling future in this vibrant nation.
