Madiha Yaqoob
Since the visa’s launch in 2019 hundreds of professional’s students’ entrepreneurs and investors have found great joy in obtaining the highly sought after Golden Visa in the United Arab Emirates.
The General Directorate of Residency and Foreigners Affairs (GDRFA) – Dubai reported a striking 52% rise in Golden Visa issuances in the first half of 2023. By November 2022 the emirate had issued more over 150000 Golden Visas to eligible candidates including homebuyers and professional investors.
A few benefits of the 10-year visa are the possibility to apply for residence permits for spouses, kids, and other family members. The sponsorship age limit has been raised from eighteen to twenty-five years old. Unmarried daughters are not subject to any age limitations. Residence permits are also granted to children of determination, regardless of their age. Moreover, there are no limitations on sponsoring domestic workers, and the Golden Residence remains valid without constraints on the maximum duration of stay outside the UAE.
Professionals in key sectors like healthcare, media, IT, and others, earning a monthly salary of Dh30,000 or more, qualify for the Golden Visa. However, there are specific categories exempt from job requirements. Here are five noteworthy ones:
Property Buyers: UAE residents and foreign investors purchasing properties totaling Dh2 million or more, whether off-plan or existing, are eligible for the Golden Visa. Dubai has recently removed the Dh1 million down payment requirement, emphasizing the total property value as the primary eligibility criterion.
Cash Deposit: High-net-worth individuals can deposit Dh2 million with a local bank for two years, qualifying for the prestigious visa. Several local banks offer assistance to those opting for this scheme.
Entrepreneurs: Flexible requirements are in place for entrepreneurs seeking Golden Residency. Owning or partnering in an SME-registered startup generating annual revenues of at least Dh1 million qualifies. Additionally, founders of past projects sold for Dh7 million or more can apply with Ministry of Economy or local authorities’ approval.
Scientists & Researchers: High-achieving scientists and researchers with influential contributions in engineering, technology, life sciences, and natural sciences, holding a PhD or master’s degree from top global universities, are granted Golden Visa residency based on Emirates Scientists Council recommendations.
Outstanding Students: Exceptional students in UAE secondary schools and graduates from UAE universities or the top 100 global universities can apply for the 10-year visa. Criteria include academic performance, graduation year, and university classification.
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