Golden Visa In Dubai - How To Obtain With Dubai's Gold Card Program
Dubai, a dazzling city of skyscrapers, is a center of attraction for people worldwide. As a city of opportunity, it has something for everyone. This modern city allows you to grow well, upgrade your lifestyle, and enjoy a luxurious life.
The city's economic stability, leisure facilities, numerous opportunities, cultural diversity, and investor-friendly policies attract prospective investors, entrepreneurs, and talented people from across the globe. The increasing demand of Dubai City and the population of foreigners in the city forced the UAE government to take initiatives and introduce some policies for the convenience of foreigners. So, recently the government launched many new policies. The goal and main purpose of launching new friendly policies is to attract talented minds from all over the world and to encourage investment in Dubai’s economy.
Dubai’s Gold Card Program is one of such policies introduced by the government of UAE in 2019. Do you want to have details about the Golden Visa in Dubai? Let's have a close look at the introduction, benefits, requirements, and other essential information about Golden Visa in Dubai in this comprehensive guide about how to obtain a visa with Dubai’s Gold Card Program.
Introduction To The Gold Card Program In Dubai
In May 2019, Dubai and the United Arab Emirates introduced the innovative program, Dubai Gold Card Program. This program is beneficial for people who are seeking a long-term residency in Dubai. The scheme of Golden Visa launched by Sheikh Mohammad Bin Al Maktoum, the prime minister and ruler of Dubai opens the opportunity to adopt permanent residency in Dubai. Shortly after the launch, more than 400 entrepreneurs and investors were issued with Golden Visa in Dubai.
The Golden Visa is a long-term residency visa that allows foreign talents to live, enjoy, and work in Dubai. The Golden has two categories; 5-year golden visa and 10 year golden visa. This renewable long-term residency visa is issued to a certain category of foreign citizens. Golden visa offers several advantages. So, foreigners can live comfortably for a long duration in Dubai, they can enjoy working and living in Dubai along with a long list of benefits.
- 1. Investors In Public Investment
- 2. Real Estate Investor
- 3. Entrepreneurs
- 4. Outstanding Specialized Talents
- 5. Outstanding Students
Eligibility Criteria And Requirements For Golden Visa In Dubai
The government of UAE has defined the eligibility criteria for a golden visa. Here is the list of people who are eligible to apply for a Golden Visa in Dubai:
- Investors
- Entrepreneur
- Scientist
- Outstanding Students
- Graduates
- Humanitarian pioneers
- Frontline heroes
- Skilled workers
- Chief executives
- Medical doctor
A golden visa is the best option for businessmen to start their business in one of the most thriving cities in the world. The overall eligibility criteria and visa process are quite simple and easy to proceed. An individual can easily apply for this golden opportunity that allows him to be a part of this business hub without any worries
Read More: How to Apply for a Dubai Investor Visa
1. Investors In Public Investment
If you are an investor in public investment in the UAE, such as investing in accredited UAE investment. You can get a golden visa for 10 years without a sponsor.
The following are the requirements to obtain a Golden Visa as an investor:
The investor must have an amount of AED 2 million.
It is necessary to submit the documents that confirm the deposit amount such as a letter from an investment accredited in the UAE stating that the investor has a deposit of AED 2 million or a valid commercial or industrial license and a memorandum of association stating that the investor’s capital is not less than AED 2 Million.
Moreover, the capital charter should be owned completely by the investors, It should not be taken as a loan.
Another requirement for obtaining a golden visa in Dubai for investors is that they have to provide proof of medical insurance for themselves.
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2. Real Estate Investor
A real estate investor who owns the property, particularly residential property because commercial property is not included in the Gold Card Program may be granted a Golden visa in Dubai.
The minimum price of the real estate property should be AED 2 Million. The applicant must provide a confirmation letter from the land department of the respective emirate stating that he owns one or more properties and the value of these properties is not less than AED 2 Million.
According to the new rules, the property can be mortgaged but the amount of own funds must not be less than AED 2 Million.
Read More: Pros and Cons of Buying Property in Dubai
3. Entrepreneurs
A foreigner entrepreneur, who owns an economic project of a technical and future nature based on risk and innovation can get a golden visa for five years.
Moreover, an entrepreneur must have approval letters from the following apartments to be eligible for a golden visa:
An approval letter from an auditor in the UAE stating that the project value is not less than 500,000 dirhams.
A confirmation letter from authorities stating that the project is of a technical and future nature.
A letter from an accredited business incubator in the UAE to establish the proposed activity in the country.
Read More: Why Invest In Dubai Real Estate
4. Outstanding Specialized Talents
Outstanding specialized talents including; doctors, scientists, creative people of culture and art, inventors, executives, specialists in scientific fields, athletes, doctor degree holders, and specialists in the field of engineering and science may be granted a golden visa for 10 years. These specialized people have to submit required documents related to their departments.
5. Outstanding Students
Top-rated high school students and national-level toppers with a minimum grade of 95% in public or private secondary are eligible for a golden visa for five years without a sponsor. An outstanding university student who got a graduation degree from the top rated either A or B-class university by the Ministry of Education may also be granted a golden visa for 10 years.
The following are the requirements for outstanding university students:
- The university must be rated among the top 100 universities according to the rating system recognized by the Ministry of Education.
- The CGPA must not be less than 3.5.
- Almost two years must have passed since the student graduated.
- Graduation certificates must be accredited by the Ministry of Education
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Cost Of Obtaining a Golden Visa
Registration Fees: start from AED 160,000 when investors buy property at the cost of AED 2 Million.
Visa Fees: AED 3,860 per person
Medical Examination: starts from $200
Medical Insurance: starts from $400
Expenses for consular legalization: start from $1,000
Benefits Of Getting The Golden Visa In Dubai
A golden visa in Dubai offers numerous advantages. It is the most exciting and exclusive opportunity for foreigners and expats to enjoy the high standards of living and top-notch facilities of life offered by the UAE government.
Scroll down to find the list of prime advantages of a golden visa in Dubai:
1. Long Term Residency
A golden visa offers a five to ten-year residency program to individuals and their dependents. It is an ideal opportunity for people who prefer long-term residency in Dubai. A standard visa requires renewal after two or three years, which increases the fatigue and hassle for the residents to follow policies and process of renewal.
Read More: Tips for a Smooth Move to Dubai
2. No Sponsor Is Required
The most highlighted benefit of a golden visa is that you don't need a local sponsor. You can live, work, or study without employment. It grants you full authority to work independently. Independence from local sponsorship gives benefits, particularly to entrepreneurs and investors. They can operate their businesses without local partnerships.
3. Business Ownership
A golden visa holder can get tax exemption if his company is in a free zone. He doesn't need any local
sponsor for business. He has full support and benefits from the Dubai government. With this visa program, the grant investors have easy access to business-friendly policies, world-class banking, profitable financial plans, and multinational working opportunities Dubai has to offer.
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4. Family Sponsorship
A key benefit of a golden visa in Dubai is that you can sponsor your family members. No need for a separate application for family members, that ensures families can live in the UAE. Additionally, you can sponsor domestic workers for your business.
5. Extended Stay Out UAE
While having a Golden visa you can extend your stay out of UAE without worrying about time. While on a standard visa, you have to come back within 6 months. But for a Golden visa, there is no time limit.
Read More: Top 5 Areas to Stay in Dubai
6. Educational Benefits
Dubai offers world-class standards in the educational field. It provides top-notch facilities for getting an exceptionally high level of education. A potential discount offer for education to families making it affordable to get top-tier educational facilities.
7. Healthcare Benefits
A Golden visa holder has a high level of health care benefits through worldwide insurance. He doesn't need to pay any copay and can enjoy the healthcare benefits in Dubai of a high standard.
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8. Investment Opportunities
Golden visa holders have lots of investment opportunities. They are exempt from tax on personal income. They can invest in real estate with full government support and facilities. He can start his own business. The Dubai Government fully facilitates investors through bank loans, home loans, and leasing.
9. Multiple Entry
Golden visa holders have the benefit of multiple entries on one visa. There is no time restriction for multiple entries.
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10. Priority Services
Golden visa holders get priority services e.g. in education, business services, or any other government or private sector work. The Dubai government tries to give its best services on a priority basis to golden visa holders.
Final Thoughts
The process of obtaining the Golden visa in Dubai is straightforward. If a foreigner meets the eligibility criteria and provides all the essential required documents to the respective department, by following the steps of the simple process, he can get into a gold card program in no time. The Golden visa is just not beneficial for holders, it also gives advantages to the Dubai government. The Golden visa program is a great way to attract investors, entrepreneurs, and highly skilled individuals to Dubai. It helps to create a stable and prosperous economy in Dubai.
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