The Five Benefits of a Golden Visa

More and more of our clients from around the world and in the UAE are reaching out to us with questions about the Golden Visa. Created to further bolster the influx of international talent and investment in the UAE, this unique residency programme has already seen thousands of applicants secure a long-term visa. So if you have been thinking about applying for the Golden Visa and have questions about what’s involved and how it all works, here is our guide to the Golden Visa and the key benefits to be aware of.

What is the UAE Golden Visa?

The Golden Visa is one of the UAE’s most recent updates to its immigration and residency options. Launched in 2019, it continues to be updated in terms of criteria, requirements and benefits. It is a long-term residency visa that is renewable and offers a series of categories for foreign expats who want to make the UAE their home.

Golden Visa Categories

There are quite a few category options for the Golden Visa, with many of them related to those with specific skills or talents or for individuals who make outstanding contributions to their fields. For potential applicants who don’t fall into one of these areas, there are three main categories to consider:

Investment Category: This is for those who invest a minimum of AED 2 million in a UAE bank account as a fixed deposit for two years. The funds must be re-invested after two years to keep the visa active and if they are removed from the fixed deposit the visa becomes inactive.

Professional Category: Individuals with a minimum income of AED 30,000 from a local UAE entity who also have a managerial title and an attested bachelor’s degree can apply for this Golden Visa.

Property Category: If you own a property in the UAE worth AED 2 million or more, you could be eligible for a Property Golden Visa. There are no longer any restrictions regarding the minimum down payment on the property either, so the visa can be linked to any property whether it is off plan, completed, mortgaged or not mortgaged. The visa is linked to the property, so if it is sold, the visa holder must link it to a new property within one month.

The Benefits of Acquiring a Golden Visa

Whilst there are numerous benefits to securing a Golden Visa residency in the UAE, a few key elements stand out that prospective applicants should be aware of. The unique features of the Golden Visa are:

1. Length: The Golden Visa is valid for 10 years, unlike most residency visas which typically require regular renewals every 1 or 2 years
2. Self-Sponsored: Since the Golden Visa is self-sponsored, individuals are not tied to an employer or local sponsor
3. Flexibility: Holders of Golden Visas are only required to officially enter the UAE once every 12 months, which gives individuals plenty of flexibility on travel throughout the duration of their visa, which can be highly useful for those with international business commitments or who want to spend time with family throughout the year
4. Dependents:  Individuals can sponsor their dependents for the same length of time. These could include a spouse, children and even parents
5. Additional Sponsorships: The visa also provides for individuals to extend sponsorship to domestic employees, such as housekeepers, nannies and drivers

The Process

The Golden Visa is a key part of the UAE’s efforts to expand its accommodations to foreign expatriates who will add value to the nation’s development. The range of options available when selecting which Golden Visa to apply for underline how important the UAE views those who can contribute through skill, talent, investment or dedication. With the numerous categories and extensive requirements involved with the application process, it can seem like a daunting process. That is why the team at EER Middle East is well equipped to help you identify which visa is right for you, what documentation you need and how to source all required elements in order to meet the threshold for each visa category. Our packages start from just AED6,995 and our team will be with you every step of the way.

If you would like to speak to one of our expert consultants about applying for a Golden Visa in the UAE or have questions about residency options, visas and immigration or relocation to the UAE, please get in touch on info@eerme.com or +971 (0)4 421 1819.