02 Feb
Dubai, once a modest trading hub, has evolved into a global city of endless opportunities. As the skyline continues to rise, so do the avenues for growth and prosperity. One such avenue that has garnered significant attention is the Dubai Golden Visa – a golden ticket to long-term residency in this thriving metropolis. In this blog, we’ll talk about how to get a Golden Visa in Dubai, including who can apply, how much it costs, the good things about it, and an easy way to apply with the help of First Step Business Consultant.
What is a Dubai Golden Visa?
The UAE’s ‘Golden visa’ is a special long-term residence visa that allows foreign individuals to live, work, or study in the UAE with exclusive benefits. These perks include a six-month entry visa with multiple entries for residence issuance, a renewable residence visa valid for 5 or 10 years, the freedom from needing a sponsor, the flexibility to stay outside the UAE for more than the usual six months without losing the residence visa, the ability to sponsor family members such as spouses and children of any age, the option to sponsor an unlimited number of domestic helpers, and the provision for family members to remain in the UAE until the end of their permit duration if the primary Golden visa holder passes away.
Who Can Obtain a Golden Visa in Dubai?
To be eligible for a Golden Visa in the UAE, certain criteria must be met as outlined by the government. The visa is open to various groups, including scientists, Ph.D. holders, and data experts, along with chief executives, medical doctors, outstanding students (and their families), university graduates with a GPA of 3.8 or higher, investors, real estate investors, and entrepreneurs. This exclusive visa program aims to attract individuals with expertise in diverse fields, from academia to business, fostering economic growth and development in the region.
UAE Golden Visa Cost:
The cost of a UAE Golden Visa is 2,800 AED, and this fee is the same for all types of visas, except for those related to land investors or the public sector. This fee covers the government’s processing expenses. The application process takes anywhere from 30 to 72 days as the immigration office carefully reviews the requests. In case the application is rejected, 60% of the fee, which is 1,680 AED, will be refunded. Additionally, applicants need to budget around 1,000 AED for a medical exam and Emirates ID. It’s essential to factor in the cost of UAE health insurance, with prices varying based on individual health needs; a basic plan can be obtained for around 800 AED.
Benefits of Dubai Golden Visa:
The Golden Visa in Dubai comes with numerous advantages, making it an appealing choice for those seeking long-term residency. Golden Visa holders benefit from multiple entry permits, allowing easy travel in and out of the UAE, along with exemptions from regular entry visa requirements. The extended validity period provides a sense of security, eliminating the uncertainty of visa renewals for long-term residents. Moreover, the option to extend residency to dependents promotes family unity. Compared to similar programs worldwide, Dubai’s Golden Visa is considered affordable and advantageous. Additionally, Golden Visa holders in Dubai receive special services and incentives, enhancing their overall experience and integration into the city.
The perks of the UAE Golden Visa include the ability to live in the country for five or ten years, confidence in the nation’s future, the freedom to live, work, and learn, 100% ownership of companies on the mainland, and the convenience of obtaining a driving license without mandatory training for Golden Visa holders who already possess a license from their home country, subject to passing relevant tests.
How Can You Be Eligible to Obtain a Golden Visa
Eligibility criteria for a 10-year golden visa.
For Investors
- Deposit: Invest in an accredited UAE investment fund with a minimum deposit of AED two million.
- Company Ownership: Own the invested capital completely (not a loan) and provide proof of medical insurance.
- Conditions: Submit a valid industrial/commercial license, a memorandum of association, and a letter from the Federal Tax Authority confirming an annual payment of at least AED 250,000 to the government.
For Specialized Talents:
- Criteria for Application: Obtain an approval letter from the Ministry of Health and Prevention in the UAE and a recommendation letter from the Emirates Council of Scientists, stating that the applicant is awarded the Medal of Scientific Excellence.
Eligibility criteria for a 5-year Golden Visa:
For Investors:
- Property Investment Requirements: Provide a letter from the land department confirming ownership of one or more properties with a total value not less than AED 2 million. If the property is bought with a bank loan, it must be approved by a competent local entity.
For Entrepreneurs:
- Project and Accreditation Criteria: Have an economic project of technical or future nature with a project value not less than AED 500,000. The project’s technical or future nature should be declared by relevant authorities, and an auditor in the UAE should confirm the project value.
What is the Process of Golden Visa Application in the UAE?
Applying for a Golden Visa in the UAE involves a step-by-step process through either the Federal Authority for Identity and Citizenship (ICA) or the General Directorate of Residency and Foreigners Affairs (GDRFA). The ICA application is exclusively online, while the GDRFA allows for both online and offline submissions. Applicants must exercise caution and use only authorized, official websites for online applications.
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Step-by-step Guide to the Application Process:
- Choose the appropriate authority: Decide whether to apply through ICA or GDRFA.
- Access official website: Visit the authorized, official website for the selected authority.
- Complete the application: Fill out the online application form with accurate details.
- Submit required documents: Attach necessary documents as specified by the chosen authority.
- Nomination for Golden Visa: Provide details for Golden Visa nomination during the application process.
- Payment of fees: Pay the applicable fees for the chosen visa duration (AED 650 for 5 years, AED 1,150 for 10 years).
- Review and submission: Double-check the application details before submitting it online.
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Details on Golden Visa Nomination and Required Documents:
- Investors: Include documentation related to the investment fund, ownership, and financial contributions.
- Entrepreneurs: Submit information about the economic project, its value, and accreditation.
- Specialized Talents: Provide approval and recommendation letters from relevant authorities.
Document requirements may vary based on the chosen category, such as investors, entrepreneurs, skilled professionals, outstanding students, retirees, real estate investors, or individuals with outstanding specialized talent.
Demonstrate a genuine intention and willingness to relocate to the UAE for the specified duration, whether it’s for 5 or 10 years.
Applicants are reminded to stay vigilant and use official channels during the application process to ensure a smooth and secure Golden Visa application experience. As of now, the costs are approximately AED 650 for a 5-year Golden Visa and AED 1,150 for a 10-year Golden Visa.
Obtain Your Golden Visa Now, with First Step Business Consultant:
First Step Business Consultant has been a pioneer in facilitating business setups in the UAE. The transition signifies a commitment to continuous improvement and excellence. Navigating the complexities of the Golden Visa application process is made easier with the expertise of First Step Business Consultant, ensuring a seamless and efficient experience.
For those ready to embark on this transformative journey, contacting First Step Business Consultant for personalized assistance is just a step away.
Conclusion:
As we conclude this comprehensive guide, it is evident that the Dubai Golden Visa is more than just a residency program; it is a gateway to new opportunities, stability, and growth. We encourage individuals to explore this unique chance for personal and family development, leveraging the expertise of First Step Business Consultant to navigate the process with ease. Dubai’s evolution continues, and the Golden Visa is your key to being an integral part of its promising future.
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