The Golden Visa: Everything You Need to Know

The Golden Visa: Everything You Need to Know

The Golden Visa is a long-term residence permit granted for a period of 10 years. This programme was established by the Federal Authority for Identity to enable immigrants and their families to work, live and/or study in Dubai and the UAE. Its key advantage is that the Golden Visa allows you to reside in the country without an additional sponsor.

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The authorities' aim is not only to make life easier for immigrants in the UAE, but also to strengthen the economy. This is why the Golden Visa was designed, among others, for investors. It enables them to purchase real estate in Dubai or to make investments in the UAE more broadly. The Golden Visa is also intended to encourage other groups to come to the UAE and, thanks to their qualifications, to enhance the country's competitiveness and drive economic growth. These groups are discussed below.

Table of contents

The most important points at a glance

Benefits of a Golden Visa

Comparison with regular residence visas

Self-financed stay or work

Sponsoring family members and domestic staff

Extended right of residence

What requirements must you meet to obtain the Golden Visa?

The different types of Golden Visa

Executive Director (Manager)

Public investors

Real estate investors

Entrepreneurs

Specialised professionals (“talents”)

University students

Pioneers in humanitarian work

Frontline Heroes

How much does the UAE Golden Visa cost?

What is the process for applying for a Golden Visa?

Conclusion

FAQ

How long is a Golden Visa valid?

Can I spend more than 6 months outside the UAE if I hold a Golden Visa?

The most important points at a glance

• The Golden Visa is a special form of residence permit in the UAE.
• It can be granted for a period of 10 years and does not require a local sponsor. As an immigrant, this gives you greater flexibility and freedom during your stay in the UAE.
• A major advantage is that you may remain outside the UAE for more than 6 months while holding a Golden Visa.
• The cost is typically around AED 20,000.

Benefits of a Golden Visa

The Golden Visa allows you to apply for a 10-year residence visa in the UAE as an immigrant. In addition, this visa provides you with the following benefits:

• The privilege of not requiring a sponsor
• You can sponsor your family members, including your spouse and children, regardless of their age
• Permission for your family members to remain in the UAE until the end of your residence permit should you, as the main Golden Visa holder, pass away prematurely
• Obtaining a six-month entry visa, including multiple entry permits, in order to secure your residence permit
• You are permitted to remain outside the UAE for longer than the usual six months while keeping your residence visa valid

Comparison with regular residence visas

Beyond the benefits just mentioned, the Golden Visa differs significantly from a regular residence visa, including in the following respects:

Self-financed stay or work

As a Golden Visa holder, you may work, study and live in Dubai and throughout the rest of the UAE for the entire duration of your visa.

In addition, you may work as a self-employed person or for another (local) company, without the need for individual sponsorship.

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The most important difference here, however, is that the Golden Visa allows you to reside in the UAE for an extended period without having to work.

Sponsoring family members and domestic staff

As noted above, as a Golden Visa holder you can co-sponsor all of your family members. Furthermore, your relatives can continue to benefit from your Golden Visa even if you pass away prematurely.

In addition, compared with a regular visa, you may employ an unlimited number of domestic staff.

Extended right of residence

With a regular residence visa, your right of residence is limited to two or three years. After that, you must renew it.

This is not the case with the Golden Visa, however, because as a holder you are able to remain in the UAE for 10 years without having to apply for a residence visa again.

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What requirements must you meet to obtain the Golden Visa?

As mentioned earlier, the Golden Visa allows individuals to obtain a residence permit in the UAE for 10 years. However, specific requirements must be met, and these may vary depending on the type of stay.

The different types of Golden Visa

Executive Director (Manager)

As a manager or executive director in the public or private sector, you can apply for the Golden Visa for a period of 10 years. However, to be eligible, you must meet a number of criteria.

These include, for example, a university degree recognised in the UAE and a monthly salary of AED 30,000. In addition, you must work as an Executive Director or hold a management position and have at least 5 years of professional experience in this field.

If you meet these criteria, you must be able to provide proof of each of the points just mentioned in the form of certificates with your application.

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Public investors

If you plan to invest in an investment fund, you will be granted the Golden Visa for a period of 10 years and without the need for a local sponsor – but only under the following conditions:

You must provide a letter from an investment fund accredited in the UAE confirming that you hold a deposit of AED 2 million, or a valid commercial or industrial licence together with your articles of association showing that your capital amounts to at least AED 2 million. A further option is to provide a letter from the Federal Tax Authority confirming that you pay at least AED 250,000 to the government annually.

In addition to these points, you must:

• be the owner of the invested capital, meaning it must not be a loan, and
• provide proof of health insurance for yourself and, optionally, your family

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Real estate investors

The reason many investors invest in real estate in the UAE, and Dubai in particular, is the prospect of high returns – both from sales and rentals. Because the Dubai real estate market is booming, it is also an advantage for investors to be able to remain in Dubai and the UAE for a longer period.

This is why the Golden Visa is also available to you as a real estate investor, for a period of 10 years. You do not need a sponsor to apply, and you also have the option of renewing your visa, subject to the following requirements:

• You purchase a property worth at least AED 2 million, or with a loan from a local bank
• You purchase one or more completed or off-plan properties worth at least AED 2 million from a list of approved local real estate companies. In the case of an off-plan property – that is, a property still under construction – 50% of the purchase price should be paid and 50% of the project should already be completed.

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In addition, the 90-day period for the expiry and cancellation of the residence visa in the UAE for property owners has been extended. As a result, you now have 6 months to apply for a new visa or leave the country.

No fines will therefore be imposed within this period.

Good to know: We at Danho & Partner have many years of experience in buying and selling real estate and are therefore happy to advise you on your investment project.

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Entrepreneurs

As an entrepreneur, you can also apply for a Golden Visa for a period of 10 years, provided that you have a so-called “economic project of a technical or innovative nature.” You must also be able to provide:

• A letter from an auditor confirming that the value of your project is not less than AED 500,000
• Confirmation from a UAE authority that your project is of a technical or future-oriented nature

Specialised professionals (“talents”)

In addition to the groups already mentioned, there is another, larger group that can be classified under the category of “specialised professionals”:

• medical professionals
• scientists
• performers
• inventors
• athletes
• people with doctorates

If you belong to this group, you can also apply for a 10-year Golden Visa based on your professional expertise, provided that you meet the relevant requirements for your category, which are set out in detail on the UAE Government website.

University students

As a university student, you can also apply for a Golden Visa, subject to the following conditions:

• Your university must have been classified as either class “A” or “B” by the Ministry of Education
• You need a letter of recommendation from your university and/or an accredited diploma showing that your cumulative GPA is not less than 3.5 (A) or 3.8 (B)
• In addition, you must have completed your degree no more than 2 years ago.

Pioneers in humanitarian work

As a pioneer in humanitarian work, you can also apply for a Golden Visa. To do so, you must:

• Have worked for an international or regional organisation for at least 5 years
• Have worked for civil associations and institutions of public interest for at least 5 years
• have received a recognition award from a local, regional or international organisation relating to your humanitarian work, or
• Be a funder of humanitarian work, but only where the value of your support is not less than AED 2 million or the equivalent

Frontline Heroes

You fall into the final category if you are a so-called “Frontline Hero.” This includes people who have rendered exceptional services during crises such as the COVID-19 pandemic.

This includes nurses, medical assistants, laboratory technicians and pharmacologists. As a Frontline Hero, you can also apply for and receive the Golden Visa on the recommendation of a competent authority.

How much does the UAE Golden Visa cost?

How much you pay for your personal Golden Visa depends largely on the category you fall under. Typically, the total cost is AED 20,000 and includes application fees, the medical examination, the issuance fee, electronic services, smart services and the ICP fee.

How do I apply for a Golden Visa?

Applying for a residence permit is often time-consuming. At Danho & Partner, we know this all too well, because we deal with these matters every day. It is precisely for this reason that we are also experts in this field and can relieve you of the bureaucratic hurdles associated with relocating to Dubai.

As our client, you therefore benefit from a comprehensive service, which includes, among other things, applying for a Golden Visa. We will also renew all necessary documents so that your entry into, and ongoing stay in, Dubai can run as smoothly as possible.

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Conclusion

The Golden Visa is arguably the best way to come to the UAE as an immigrant in order to live, work or study there. For investors in the real estate sector and for entrepreneurs in particular, this type of residence permit represents a considerable advantage when it comes to establishing a business in the UAE over the long term or investing in lucrative projects.

As our client, you also benefit from a range of services. In this way, we initiate all the necessary steps on your behalf to apply for your Golden Visa and also take care of various other required documents, so that you can focus fully on your business and investments.

FAQ

How long is a Golden Visa valid?

The Golden Visa was originally designed for a stay of 5 years in the UAE. However, the government has extended its validity to 10 years. In addition, as a Golden Visa holder, you have 6 months to complete your residence permit procedures in the UAE.

Can I spend more than 6 months outside the UAE if I hold a Golden Visa?

Yes, this is possible. You can remain outside the UAE for longer than 6 months. Within these 6 months, however, you have time to change your status, obtain another residence visa or leave the country.

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