Ever since its introduction, the UAE Long-Term Visa, more widely acknowledged as the UAE Gold Visa, has become one of the hot topics in the country. Foreigners in the UAE usually have renewable visas valid for only a few years tied to employment. The government in the past couple of years has made its visa policy more flexible, offering longer residencies for certain types of investors, students, and professionals.
The latest UAE visa regulations require applicants and people with different professions to apply for a ’10-year UAE residency visa’ or a ‘5-year UAE residency visa.’ In fact, businesses based outside of free zones can now be entirely foreign-owned. All holders of doctorate degrees, medical doctors, and also computer, electronics, programming, electrical, and biotechnology engineers are also eligible for the golden visa now.
Overview of the UAE Golden Visa
The Golden Visa grants residency for five to ten years, as opposed to the conventional two-year residence visa. Business Visa is part of the Golden Visa program enabling permanent citizens and foreigners to secure long-stay visas for themselves and their dependents. These dependents may include your mother and father on the basis of a number of conditions established by the Federal Office for Identification and Citizenship.
Business Visa is based on the idea of permanent residence, given that the applicant complies with the terms and conditions of each renewal cycle (every five years). Expats living and working in the UAE normally hold a renewable residency visa that lasts two or three years. After first announcing a long-term visa plan in 2018, the UAE in 2019 started granting 5- and 10-year renewable visas to certain foreign investors, entrepreneurs, chief executives, scientists, and outstanding students.
Expansion of the UAE 10-year Residency Golden Visa Eligibility
The UAE has extended the list of professionals who can obtain a 10-year golden residency visa. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai has announced that more classes of professionals will be eligible for the 10-year golden residency visas. The golden visa advantage extends to the spouses and children. All categories are required to have a valid employment contract in a specialized field of priority in the UAE.
Categories Eligible for the 10-Year Visa
Below is the complete list of professions that can apply for the Golden Visa.
- Ph.D. degree holders: Under the law, professionals holding a Ph.D. degree will be awarded the Golden Visa. The individual should be holding a Ph.D. degree from one of the top 500 universities in the world.
- Doctors: The authorities also allow all doctors to obtain a 10-year visa. This will help the country to better cope with the pandemic and meet the shortfall of medical professionals in the country. Doctors specializing in viral epidemiology will be awarded the Golden Visa, Sheikh Mohammed said.
- Engineers: In order to attract talent in this specialized field, all engineers in the field of computers, electronics, programming, electricals, electronics, active technology, AI, and Big Data can obtain the golden visa.
- Highly qualified individuals: The UAE also offers a 10-year visa to highly qualified individuals who have achieved high scores of 3.8 or more from approved universities.
- Researchers/Scientists: This includes researchers and scientists who are specialists in their respective fields. Scientists must be accredited by the Emirates Scientists Council or holders of the Mohammed Bin Rashid Medal for Scientific Excellence.
- Inventors: The UAE also offers golden visas to inventors, but they must obtain a patent of value, which adds to the UAE’s economy. Patents must be approved by the Ministry of Economy.
- Artists: Creative individuals in the field of culture and art will be awarded the golden visa. Creative individuals in culture and art must be accredited by the Ministry of Culture and Knowledge Development.
- Investors: Foreign investors who have invested Dh10 million or above can also apply for the golden visa. This investment can be in the form of a deposit in an investment fund, the establishment of a company, or investment in real estate or any other strategic sectors. A number of Indian, Pakistani, and Arab investors have already been awarded golden visas under this scheme.
The UAE 10-year gold visa requirements for general investors are subject to the following conditions:
- Public investments either through deposits or via a company amounting to no less than AED 10 million
- Out of this total investment, more than 60% has to be in non-real estate assets
- The investor should hold full ownership of these assets. Anything under a loan or mortgage cannot be taken into consideration. In the case of loaned/ mortgaged assets, he/she can prove that they reserve the rights of investments for three years as a minimum.
- The asset should not be embroiled in any claims or financial disputes.
These general investors are eligible for a 10-year UAE residency visa, that can be renewed. Visa for dependents is also valid for 10 years. If your primary asset is a business, you can have partners, provided they too have invested AED 10 million each. You can also get a 10-year UAE golden visa for the executive director and one advisor. Similar to other residency visas in the UAE, you cannot be out of the country for more than a duration of 6 months.
Categories Eligible for the 5-Year Visa
Below is the list of professionals who can obtain a 5-year visa:
- Entrepreneurs: This category includes those having an existing project with a minimum capital of Dh500,000, or those who have the approval of an accredited business incubator in the country. The entrepreneur is allowed a multi-entry visa for six months, renewable for another six months. The long-term visa includes the spouse and children, a partner, and three executives.
- Outstanding students: This includes students with a minimum grade of 95 percent in public and private secondary schools, university students within and outside the country having a distinction GPA of at least 3.75 upon graduation. The long-term visa includes families of outstanding students.
Planning on Moving to the UAE?
The UAE Golden visa, which offers people a form of residency permit in the UAE, is an extremely attractive idea, given that it is one of the safest countries in the world. This effort will motivate more expatriates to invest their assets within the UAE, which will support both the country and the investor to thrive tremendously. Our visa experts at Riz and Mona Consultancy can help you get the golden visa in just a couple of days. We have more than a decade of involvement and experience in this field and we can make the visa process hassle-free. Feel free to contact us for more information.