GOLDEN VISA: THE MUCH COVETED LONG TERM VISA IN THE UAE
January 24, 2024
Launched and implemented in 2019 by the UAE cabinet led by HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai , the Golden Visa is a landmark scheme in the socio-economic history of the country. And at MBG Corporate Services, with our finger on the pulse of the economy we can testify to that, as we have enabled many to obtain the Golden visa.
The Golden Visa is a new take on long-term residency in the UAE with options of five years and ten year - tenures. This new system enables expats to live, work and study in the UAE without the need for a national sponsor. Furthermore, it also follows the announcement of 100% ownership of local businesses within the UAE.
The UAE is an immensely attractive investment-friendly country boasting several advantages from strategic location on the world map to pro-business policies, ease of doing business and superb infrastructure (to name just a few) . The introduction of this long term golden visa is another milestone on the road to attracting more and more investors and professionals to the UAE.
In this article, we discuss the different types of golden visa available for investors and professionals in the UAE. As a leading name in the market, MBG makes this application easy for you.
The golden visa spans a period of 5 years and 10 years. As per the UAE government, the golden visa will be granted to the following categories (provided they meet the criteria):
- Investors
- Entrepreneurs
- Startup owners
- Specialized talents and researchers in various fields of science and knowledge
- Outstanding students
- Frontline and humanitarian pioneers (recently added to its list)
- Engineers
The requirements for each one of these are different and hence the eligibility criteria differ too. Prospects and aspirants can understand the details of popular categories from this article.
Golden visa (investors)| An investor in an investment fund | Senior employees of an investor in public investments | Real-estate investor |
| An investor in an investment fund is granted a golden visa for a period of (10) years without a sponsor if one of the following conditions are met:
1. Submission of a letter from an investment fund accredited in the UAE stating that there is a deposit of AED Two Million (AED 2,000,000)
2. OR Submission of a valid commercial license or industrial license with investor’s memorandum of association of his/her company provided that the investor capital is not less than AED Two Million (AED 2,000,000) 3. Submission of a letter from the Federal Tax Authority stating that the investor is the owner of a company that pays the government no less than AED Two Hundred and Fifty Thousand (AED 250,000) |
The executive director or the advisor appointed by an investor in public investments is granted a golden visa for a period of ten (10) years without a sponsor and for one person only, according to the following conditions: 1- Submission of a letter from the investor in public investments stating that the executive director or the advisor has been appointed for a period of ten (10) years. |
The owner of a property or a group of properties is granted a golden visa for a period of five (5) years, renewable on the same conditions and without a sponsor if one of the following conditions is met: 1- Submission of a letter from the real estate registration department in Dubai emirate stating that the investor owns one or more properties whose value is not less than AED Two Million (AED 2,000,000) , stating that the property is not subject to a loan. 2- The value of these real estate investments is permitted to be a loan for what exceeds the value of AED Two Million (AED 2,000,000) |
Note: the family members of the investor stated in the cabinet resolution (husband or wife and children from the category of unmarried daughters and unmarried sons) are granted a golden visa for a period of ten (10) years.
Golden visa for Professionals| Specialists in Engineering and Science | Doctors | Nurses and other healthcare professionals |
| Submission of a copy of a Bachelor’s or a Master’s degree certified by Ministry of Education and a work contract with a profession in one of the following specializations: (Epidemiology and Virology - Artificial Intelligence - Big Data - Computer Engineering - Electronics Engineering - Software Engineering - Electrical Engineering - Genetic Engineering - Biotechnology Engineering.) |
Submission of an accredited letter by the Health Authority or Ministry of Health in the country stating the doctor’s practice of the medical profession (medical license). |
Very recently the UAE has introduced golden visa for nurses and other healthcare professionals, issuing golden visa depending on the profile. |
| Outstanding students | University students: |
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A high school student who ranked top in the country (with a minimum grade of 95 per cent in public and private secondary schools) is granted a golden visa for five (5) years without a sponsor, according to the following: 1- Submission of a recommendation letter from the Ministry of Education (Emirates schools establishment). 2- Duration of the golden visa for the student is 5 years and may be extended if she/he is enrolled in one of the majors / colleges in the country that requires a study period of more than five years, such as (college of human medicine). 3- Conditions for granting a golden visa to family members of a high school student who ranked top in the country: the parents of the outstanding student, and her/his siblings (dependents of the father) are granted a golden visa for the same period in the event of their stay in the UAE. |
a university student is granted a golden visa for a period of ten (10) years without a sponsor, according to the following: 1- Submission of a recommendation letter from the university or an accredited graduation certificate or an accredited academic record stating that the student’s cumulative GPA is not less than 3.8. 2- Conditions for granting a golden visa to family members of a university student: the parents of the university student, and her/his sibling (dependents of her/his father) are granted a golden visa for the same period in the event of their stay in the UAE. |
| Owner or founder of economic project | Executive directors working for an entrepreneur |
| An entrepreneur is granted a golden visa for five (5) years without a sponsor as follows:
1- Submission of a letter from an accredited auditor in the UAE stating that the project value is not less than AED Five Hundred Thousand (AED 500,000) (project owner). 2- Submission of an approval letter from the concerned authorities in the emirate stating that the project is of a technical or future nature in which entrepreneurship is achieved (project owner). 3- Submission of a letter from an accredited business incubator or a competent authority in the emirate stating that the project is of a technical or future nature (project founder). 4- This type of application (for entrepreneurs) is submitted through Dubai Future Foundation. 5- Conditions for granting a golden visa to family members of an entrepreneur: the family members of the entrepreneur stated in the cabinet resolution (husband or wife and children from the category of unmarried daughters and unmarried sons) are granted a golden visa for a period of five (5) years. |
An entrepreneur may appoint three (3) executive directors with a golden visa for a period of five (5) years according to the following:
1 - Submit a letter from the entrepreneur stating the work of the executive director for them. 2- Submit a pledge from the executive director to work throughout the residency period with the entrepreneur. 3- Submit a copy of the university degree duly certified. 4- Conditions for granting a golden visa to family members of an executive directors working for an entrepreneur: the family members of the executive directors working for an entrepreneur stated in the cabinet resolution (husband or wife and children from the category of unmarried daughters and unmarried sons) are granted a golden visa for a period of five (5) years. |
| Retired professionals |
| 1- His/her service period prior to his/her retirement shall not be less than fifteen (15) years, whether inside or outside the country, or that she/he has completed fifty five (55) years of age.
2- To be the owner of one or more real estates in the country, the value of the real estate or the total value of real estate is not less than AED One Million (AED 1,000,000) , whether this is the purchasing or market value, provided that the evaluation is carried out by a competent authority in the concerned emirate. 3- Or that she/he has a financial deposit of no less than AED One Million (AED 1,000,000) inside the UAE 4- The fixed annual income of the retiree should not be less than AED One Hundred and Eighty Thousand (AED 180,000), provided that a bank statement for the last six months is submitted. 5- Conditions for granting a golden visa to family members of a retired foreigner: the family members of the retired foreigner stated in the cabinet resolution (husband or wife and children from the category of unmarried daughters and unmarried sons) are granted golden visas for a period of five (5) years. |
Cost for Golden Visa Application
The cost varies depending on the type – ranges from AED 2,800 - AED 7,000 is approximately. This service can be availed of through Amer Center or through the website if the necessary documents are at hand.
It is advisable to go with an experienced consultant to reduce the time as well as the risk of rejection. Please contact us for any assistance on this. Our expert team with over 22 years of experience can guide you through the process. Reach us on +971-52-6406240 / uae@mbgcorp.com