With its world-class infrastructure, Dubai has become one of the most thriving cities in the world which will only continue to scale up and grow. Today Dubai is not just a famous tourism destination but is also the hub to a lot of growing businesses from all over the world. With its quality of life and growing market in diverse fields, Dubai today has become one of the most lucrative cities for investors to raise their capital and grow businesses. However, what benefits investors in modern times who wish to settle in UAE is the 10-Year UAE Residence Visa for Investors initiative which was launched by the government for a smooth visa process to provide them with long-term residency.
But it’s not just about 1 city, but UAE as a whole. The country today boasts of numerous chances and opportunities for foreigners in their country to come and invest. For skilled and talented people who are looking for an improved way of living, the UAE has introduced a revolutionary visa program that provides 5-10 year residency through a hassle-free visa process called Golden Visa. It is especially a golden opportunity for investors as it presents them with a smooth transition towards fostering a healthy business environment. This step has garnered the attention of investors from all over the world as this initiative by the UAE government.
What is the Golden Visa?
It is a long-term residence visa that lets foreigners reside, work, or study in the UAE while enjoying the exclusive benefits of the country. One of its unique features is that, unlike other conventional visas, these visas can be renewed automatically for 10 years. These are ideally targetted towards the following section of people
- Investors
- Entrepreneurs
- Teachers
- Unique Talents
- Scientists and professionals
- Exceptional students and graduates
- Humanitarian Pioneers
- Frontline Heroes
However, in this blog, we will read in-depth about how investors can attain a golden visa and what eligibility criteria are required for them to attain it so they can make substantial returns by investing in some of the key real estate projects of Dubai like Damac Verona. 10-Year UAE Residence Visa for Investors has been majorly categorized into 2 sections.
- Investors in public investments
- Real Estate Sector
Investors in Public Investment
Investing in an investment fund boasts the chances of attaining a golden visa. It can easily grant you a golden visa for 10 years, without any sponsor. However, it is subject to submission of the letter from an investment fund that is accredited by the UAE authorities that states that investors need to have a deposit of at least AED 2 Million. The other alternative can be a submission of a valid commercial or industrial license and memorandum of association which reassures that the capital of the investor is at least 2 Million Dirhams.
Real Estate Investors
In case you happen to own a real estate property like one of its high residential projects like Damac Verona, it will make you eligible to hold a 10-Year UAE Residence Visa for Investors which can be renewable as well without having any sponsor. However, it will be subjected to the provision of the letter from a land department of the respective Emirate stating that he/she owns at least one residential property which is valued at AED 2 Million. A housing property can only be purchased through loans with specific local banks which have to be further approved by the local authorities.
Additional Cost for UAE Golden Visa
- Registration Fee -160,000 AED
- Medical checkups – 734 AED
- Health Insurance – 1469 AED
Additional Requirements for Golden Visa for Investors
The eligibility criteria for investors depend on more than having additional funds in the bank or purchasing a property. But succeeding in these criteria makes the process of availing of a golden visa much faster and hassle-free.
- Minimum investment – To showcase their commitment to contributing to the UAE economy, they must fulfill minimum investment criteria. On average the minimum investment amount is considered to be 2 Million AED.
- Investment Retention—Investors are expected to retain their assets for a specific time as evidence of their long-term commitment to the country.
- Exceptional Behaviour – Applicants must have a spotless record and showcase excellent behavior within and outside the United Arab Emirates.
Benefits of Golden Visa for Investors
A 10-year UAE Residence Visa for Investors comes across as one of the most lucrative choices for organizations who are looking to increase their worldwide presence as it provides investors with several advantages. Some of its major characteristics include
- Long-Term Residency – Golden Visa can provide long-term residency to investors in the UAE, which provides stability and a welcoming business climate for further expansion.
- Sponsorship – It allows investors to sponsor their spouses, children, and other immediate family members providing them an opportunity to live and work in UAE.
- Access to Services – Holders of golden visas have easier access to services including banking, healthcare, and education, providing a high standard of living for themselves and their family members.
- Reputation & Credibility – One of the ways with which foreign investors benefit the most from a golden visa is by gaining a reputation in UAE as it helps them connect with future partners and clients in the country at the highest level for further business opportunities.
Conclusion
Today Dubai stands as one of the fastest growing cities which provides endless business opportunities for investors from all over the world. Through the Golden Visa initiative by the UAE government, the process of acquiring a long-term residency visa becomes much easier and offers an array of benefits.