Last year, the UAE began a new golden period in order to secure the skills of its brightest and best residents for decades to come. Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, announced in May 2019 the establishment of a golden card visa system to allow exceptional workers and international investors to build deeper roots in the country and benefit from their knowledge.
Foreigners can now work, live, and study in the UAE without the need for any national sponsor. These visas will be automatically renewed and good for 5 or 10 years. The innovative 10-year residency program aims to recruit workers in the disciplines of medicine, engineering, science, and art.
The visa allows for a 10-year renewable resident period. If the beneficiary continues to meet the criteria of the visa, they can extend it for another ten years when it expires. Expatriate workers must typically renew their work visa every two to three years. For individuals looking to invest and create long-term careers in the UAE, the golden visa provides greater stability.
For a ten year resident visa in the UAE, applicant must belong to one of the following categories.
The investment may take several forms such as:
Before a visa can be issued, the following requirements must be completed.: It is not possible to borrow the money that has been invested. It is recommended that the investment be held for at least three years. AED 10 million in financial solvency is required.
The visa is extendable to include business partners on the condition that each partner pays AED 10 million.
The long-term visa is available to the spouse and children, as well as one executive director and one advisor.
A multiple-entry six month permit can be granted to foreign investors.
Doctors, specialists, scientists, innovators, and creative individuals in the realms of culture and art are among the specialists and researchers in the scientific and knowledge disciplines. The visa benefit is also available to the spouse and children. For all categories, a legal job contract in a specialist area of priority in the UAE is required.
Before a visa can be issued, the following requirements must be met: Scientists and recipients of the Mohammed Bin Rashid Medal for Scientific Excellence must be accredited by the Emirates Scientists Council.
Individuals in the cultural and creative fields must be authorized by the Ministry of Culture and Youth.
Inventors must get a valued patent that benefits the economy of the UAE. Patents approved by the Ministry of Economy.
Patents or scientific papers published in a peer-reviewed journal are required to demonstrate remarkable ability.
Executives must be the owners of a well-known, internationally recognized company or have a high level of academic achievement and rank.
At least two of the following requirements must be met by doctors and specialists:
The following categoriees are eligible to apply for a 5-year resident Golden visa in the UAE:
Granting a visa is subject to the undermentioned conditions: The investor must purchase real estate with a gross worth of at least AED 5 million. The sum invested in real estate must not be borrowed. The real estate must be retained for a period of at least 3 years.
Those with an existing project and a minimum capital of AED 500,000 or who have received clearance from a recognized business incubator in the country fall into this group.
The entrepreneur is granted a six-month multi-entry visa that can be renewed for another six months. The children, spouse or a partner, and three executives are all included in the long-term visa.
Outstanding students with a minimum GPA of 95% in public and private secondary schools, university students from within and outside the country with a GPA of at least 3.75 upon graduation. Families of outstanding students are eligible for long-term visas.