It is a well-known fact that millions of immigrants and ex-pats live and work in Middle Eastern countries like Saudi Arabia, the United Arab Emirates, and Qatar. Yet unlike Canada, the USA, or most European countries, Middle Eastern countries don’t hand out citizenships.

This is however gradually changing and while countries like the UAE give out citizenships on occasion, it is very rare. But to attract more talented and skilled people to the UAE the government started handing out Golden Visas in 2019 and this initiative has been quite successful.

If you are interested in learning more about Golden Visas, especially how to get them then this is the perfect guide for you as we will explain the entire process.

What is the Golden Visa in UAE?

Introduced in 2019 the Golden Visa by the United Arab Emirates is a long-term residency visa that allows people to reside, work, and study in the UAE. The purpose of this visa is to attract investors, entrepreneurs, and talented people who are at the top of their fields.

The visa is granted for either 5 years or 10 years and is renewable when it is about to expire. Not only that but it also makes the visa holder eligible for citizenship. Lastly and most importantly, with a Golden Visa, the individual does not need a sponsor, as is the case with residency visas.

Benefits of Getting a Golden Visa in UAE

There are several benefits of having a UAE Golden Visa and they are as follows.

• Unlike most other residency and work visas, you don’t have to renew this visa every year or as frequently.
• You can still reside outside the UAE with the Golden Visa and only visit once or twice a year to maintain residency status.
• Having a Golden Visa means you are not bound by a sponsor and are free to work or maintain your business.
• The Golden Visa also allows you to bring your family with you to UAE and you can even sponsor your domestic help.
• Lastly, the quality of life you get in UAE is on par with some of the leading countries of the world and this is probably the biggest advantage of having a UAE Golden Visa.

Eligibility Criteria for Golden Visa in UAE

To meet the general eligibility criteria for a Golden Visa the person needs to be a non-UAE resident. He needs to have no criminal record and should be able to meet the health insurance criteria. After this, there are specific criteria for the different types of Golden Visas and they are as follows.

For Investors

You are eligible for a 10-year Golden Visa if you invest at least AED 2 million in real estate like buying property, investing in the public sector, or mutual funds. Provided the capital you are investing is completely owned by you and is not a loan.

For Entrepreneurs

Entrepreneurs are eligible for a 5-year Golden Visa provided their business is worth more than 500,000 in capital and is innovative and future-oriented.

For Students

Exceptional students are eligible for a 5- year golden visa if they have 95% plus marks in high school. For university students, they need to have a 3.5 plus cumulative GPA from a grade A university or a 3.8 plus cumulative GPA from a grade B university.

Lastly, they need to be graduated from university in the last two years. For students who meet this criteria and have graduated from the top 100 universities in the world are eligible for a 10-year Golden Visa.

For Exceptionally Talented

This category is divided into many sub-categories but to summarize, exceptionally talented people are those who are at the top of their fields or have considerably contributed to it. These included scientists, engineers, doctors, inventors, executives, PhDs, and other experts in similar fields.

This category not only includes science and engineering but also people from the creative arts and athletes, as well as frontline heroes (nurses, first responders) and humanitarians who actively contribute to humanity through active participation or financially.

Costs associated with UAE Golden Visa

The following fees are associated with the issuance of a UAE Golden Visa.

• Residence permit fee: AED 1,100
• Knowledge dirham: AED 10
• Innovation dirham: AED 10
• Fee inside the country: AED 500

In addition to these fees, there might be other costs associated with it like the cost of medical insurance, delivery fees, transaction charges, etc.

Documentation Required for UAE Golden Visa

To get the Golden Visa you will need the following documents.

• A valid Passport
• A Passport size photograph
• Qualification documents (Degree, Transcripts, Resume, etc.)
• Proof of health insurance
• Proof of Address
• Bank Statement (In some cases)
• Financial Documents (In some cases)
• Property Ownership Documents (In some cases)
• License to Practice Profession (In some cases)

These are just some of the documents that you may need and depending on what kind of Golden Visa you are getting, the types of documents you are required to produce may change.

Step-by-Step Process to Get the Golden Visa

The procedure to get the Golden Visa can be lengthy but it has been made very easy with the ‘One touch’ Golden Visa service and if you meet the criteria and have all the required documentation then you simply need to follow these steps.

• The very first step in this process is to get a multiple-entry visa through the Federal Authority for Identity, Citizenship, Customs & Port Security (ICP) website. This kind of visa is valid for up to 6 months and will greatly help in your application process.
• Next, if you are getting your Golden Visa through investment etc. in UAE then you need to do all the necessary paperwork for that.
• Once that is done you will need to get all your paperwork in order and begin the application process.
• You will start the application by visiting the same website you got your multiple-entry visa from and this time click on the Golden Visa Service that you are getting.
• Next, you need to fill in the application and attach all the necessary documents, review your application, pay the necessary fee, and submit it.

The processing time for a Golden Visa application is around one to two months but it can vary for each application.