Golden Residency Visa in the UAE – All the things you need to knowKWSME
In May of 2019, His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai started a new initiative – a UAE residency system called as the ‘Gold Card.’ The Golden Card is a long-term residency program that is for outstanding professionals working in the fields of health, science, engineering, and art. The idea behind this program is to build an engaging business environment in the Emirates to encourage business investment, and development opportunities in Dubai and the rest of the UAE and to attract in new talent to its shores. Expats who have been residing in the country for a long time and are the cause for the country’s continued development is also being rewarded for their devotion and encouraged to proceed to invest in the UAE. The golden card covers a five-year and ten-year residency visa for extraordinary talents.
Categories Qualified to Apply for a 10-year Residency Visa in the UAE.
The investment may take many applications such as:
- Collateral of at least AED 10 million in an investment fund inside the UAE
- Incorporating a business in the UAE with a capital of not smaller than AED 10 million
- Partnering in an existing or a new business with a share value of not less than AED 10 million
- Having a cumulative investment of not less than AED 10 million in all areas mentioned, on the provision that the investment in sectors other than real estate is not less than sixty per cent of the total investment.
Conditions: Awarding a Golden Residency Visa is subject to the following conditions
- The amount invested must not be loaned
- The investment should be held for at least three years
- There should be financial solvency up to AED 10 million
- The long-term visa can include the applicant’s spouse and children, as well as one administrative director and one advisor
Specialized Talents includes individuals with having skills in the fields of science like scientists, doctors, inventors, technicians as well as creative individuals in the area of culture and art. The visa extends its privilege to even spouse and children. Point to be noted here is that all categories are obligated to have a legitimate employment contract in a dedicated field of pre-eminence in the UAE.
Note: Granting a visa is subject to the following conditions
- Scientists must be endorsed by Emirates Scientists Council or holders of the Mohammed Bin Rashid Medal for Scientific Excellence Certification
- Creative folks in culture and art must be accredited by the Ministry of Culture and Knowledge Development
- Inventors have to get a patent of value, which adds to the UAE’s economy which demands to be recognized by the Ministry of Economy
- Excellent talents must be documented by patents or have scientific research published in a reputed journal
- Executives must be the proprietor of a leading and internationally recognized firm or should hold high academic performance
- Doctors and specialists must fulfil at least two of the following conditions:
- A ph. D. Degree, preferably from top 500 universities in the world
- A certificate or citation of appreciation in the field of the applicant’s work
- Contributed to primary scientific research in the corresponding area of work
- Published articles or scientific books associated with the particular field
- Membership in an organization associated with their field of work
- A ph. D. Degree, in addition to 10-year professional experience in their specific field
- Concentration in areas of priority to the UAE.
Categories Allowed to Apply for a 5-Year Residence Visa in the UAE without a Sponsor.
Investors with Property
- The investor must invest in a property of an entire value not less than AED 5 million to get an investor visa in UAE
- The sum invested in real estate must not be on a loan basis
- The property must be owned for at least three years
- This classification is for those who have an existing project with a minimum capital of AED 500,000, or those who have obtained consent from an authorized business incubator in the UAE
- The entrepreneur is allowed with a multi-entry visa for six months, renewable for another six months. The long-term visa extends the addition of spouse, children, a business partner, and three administrators.
- Excellent students with a minimum grade of 95 per cent in government and private secondary schools
- University students in UAE as well as outside the country who have achieved a distinction GPA of at least 3.75 upon graduation
- The long-term visa accommodates families of the excellent students
The government of the UAE has been taking such investor-friendly initiatives to woo them for investing in various sectors. This initiative will inspire more ex-pats to invest their assets within the UAE, which will benefit both the state and the investor to prosper exponentially.
How Can We Help?
We at KWS Middle East can help you obtain the golden card in just a few days. Our specialists have 13+ years of experience in this field and can make the process hassle-free. Contact us today for more information.