The UAE Golden Visa: Updates and Information

The introduction of the Golden Visa has made a huge difference to the immigration process of the UAE. As well as providing increased stability for loyal and innovative contributors to the nation, its unique facets are extremely appealing to potential investors and talented individuals from around the world. Not only are we seeing an increase in demand from international expatriates and their families, it is even having a positive impact on the UAE’s property market. So, what is the UAE Golden Visa all about? Could it be the right fit for you? What are the important updates you need to know and how can EER Middle East guide you through the process?

What is the UAE Golden Visa?

Launched in 2019, the Golden Visa programme has seen thousands of successful applicants secure a long-term residency visa for the UAE. There are several options to choose from for foreign expatriates who want to cement their base in the UAE and a series of exclusive benefits that the Golden Visa provides:

• A renewable residence visa valid for 10 years
• No sponsorship requirement
• Full sponsorship of spouses and children, regardless of age
• Unlimited sponsorship of domestic staff
• No restrictions on external travel to retain visa validity
• Ongoing permit privileges for family members in the event of the primary holder’s death

Key Categories

Whilst there are several categories under which the Golden Visa can be awarded on the basis of talent or specific industry skill, the main categories of Golden Visas available in the UAE that are of the most interest to potential applicants are as follows:

UAE Golden Visa: Investment Category

This 10-year Golden Visa is available for individuals (and their dependents) who make a minimum investment of AED 2 million in a UAE bank account as a fixed deposit for two years. Applicants must be in the country to submit their documentation, including a letter from the bank in Arabic confirming the funds with no more than a 30-day validity.

Important note: After two years, the funds must be re-invested to keep the visa active. If they are removed from the fixed deposit, the visa will become inactive.  

UAE Golden Visa: Professional Category

If you have a minimum income of AED30,000 from a local UAE entity, a managerial title and an attested bachelor’s degree, then you can apply for this 10-year Golden Visa. Applicants must provide an Employer’s NOC, six months of bank statements and valid UAE health insurance.

UAE Golden Visa: Property Category

This visa is most suitable for individuals who own a property in the UAE worth AED 2 million or more. Applicants will have to provide a series of official documents including the title deed and a no objection letter from the bank if it is mortgaged.

Important note: This visa is linked to the property, which means if it is sold, the visa holder has one month to link the visa to a new property to avoid a visa cancellation.

Important Updates: Property Investors

What you may not have been made aware of is the recent updates to the Property Category that will expand the potential field of applicants for this Golden Visa. In an effort to encourage more residents and investors to strength their ties to the nation, there is now no minimum down payment to quality for the Property Category Golden Visa. Whilst the minimum property value remains at AED 2 million, applicants will no longer have to ensure that a minimum of AED 1 million was paid off on a mortgaged property. According to the new rules, investors can apply for the visa if a property’s value is over the threshold but “regardless of whether its off-plan, completed, mortgaged or not mortgaged”.

The Process

Given the crucial influence of the immigration field, especially in a fast-paced and ever evolving country like the UAE, there can be multiple updates and information clarifications to be aware of throughout any residency visa process. The UAE Golden Visa is one of the country’s signature initiatives and the government is committed to ensuring its ongoing success. To date, they have already demonstrated their adaptability when it comes to categories and qualifications. It is therefore extremely important for prospective applicants to have the latest information and to be able to easily identify which visa category would best suit them. At EER Middle East, our expert team can recommend the best UAE Golden Visa for you and guide you through the process from beginning to end. You can also take advantage of our newly reduced rates, starting from just AED 6,995.

If you have questions about the UAE Golden Visa or would like to speak to the EER Middle East team about your application process, please get in touch today on +971 (0)4 421 1819 or info@eerme.com