Dubai Golden Visa
UAE INTRODUCES 10-YEAR GOLDEN VISA FOR PROFESSIONALS /INVESTORS
The United Arab Emirates (UAE) recently decided to issue a 10-year golden visa to professionals that will include engineers, physicians, Ph.Ds. who are from UAE accredited universities who have scored Grade Point Average or GPA of 3.8 and above. The motive behind issuing this visa is to retain ‘talented people and great minds’ in the country.
WHO CAN APPLY FOR THE GOLDEN CARD?
Five categories of non-residents can apply for the golden card, these include entrepreneurs, chief executives, investors, meritorious students and scientists.
REQUIREMENTS FOR FOREIGN INVESTORS
They must fulfil at least one of the following conditions:
• Must make a deposit of up to 10 million dirhams in an investment fund in the UAE.
• Must be an owner of a company with 10 million dirhams as capital investment or must be a partner in a company with a share of up to 10 million dirhams.
Apart from this, the following conditions must be fulfilled:
• Investment funds should be fully owned rather than be funded through a loan and adequate proof must be given
• The applicant must have held the investment for at least three years
• The applicant must have an insurance document for themselves and their family members
REQUIREMENTS FOR ENTREPRENEURS:
• Applicants must be owners of a project that has a value of 500,000 dirhams or above in a field certified in the UAE
• Applicant must be approved as a certified business incubator and a founder of the project
• Applicant must have health insurance coverage for himself and his family members
ELIGIBILITY CONDITIONS FOR SPECIALISTS
ELIGIBILITY CONDITIONS FOR CHIEF EXECUTIVES:
ELIGIBILITY CRITERIA FOR OTHERS
As for the criteria for inventors, they must have a patent that should be of value to UAE’s economy and should have the approval of the patent from the ministry of economy.
Apart from this, the program includes art and culture specialists who must be approved by the Ministry of Culture and Knowledge Development in the UAE.
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