What is the Golden Visa UAE?
The Golden Visa is an extended residency permit granted to foreign investors, allowing them to reside, work, or study in the UAE for a duration of up to 10 years. This prestigious residency status is subject to renewal and is exclusively available to specific categories of individuals, including investors and those possessing exceptional talents.
The primary objective of the Golden Visa initiative in the UAE is to entice foreign capital and expertise into the country. It presents a multitude of advantages to its beneficiaries, such as the privilege to reside and work within the nation, access to top educational and healthcare facilities, and the opportunity to sponsor family members for their own residence visas. The Golden Visa has a duration of 10 years, with the possibility of renewal once it expires.
UAE Golden visa rules and updates:
The Federal Authority for Identity, Citizenship, Customs & Port Security ( ICP) and General Directorate of Residency and Foreigners Affairs ( GDRFA – Dubai immigration) have announced that the Golden Visa’s duration has been prolonged to 10 years across all its categories. This significant extension permits individuals to establish their residence and career in the Emirate for an entire decade.
Furthermore, alongside skilled professionals, the UAE authorities have introduced fresh categories eligible for the Golden Visa. This includes specialists in industries and the fourth industrial revolution, healthcare professionals, education experts and skilled employees. This development brings exciting opportunities for a broader range of individuals.
What Are the Advantages of a Golden Visa in Dubai?
One of the key advantages of holding a UAE Golden Visa for foreign residents in Dubai is that they can undergo a UAE driver’s test without the requirement of additional driving lessons if they possess a valid driving license from their home country. The Dubai Golden Visa offers this benefit to individuals who hold licenses from one of the 32 approved countries, which include countries like the US, the UK, France, Italy, Saudi Arabia, Belgium, Spain, Switzerland, Qatar, Kuwait, and Ireland. In such cases, they are automatically eligible to obtain a UAE driver’s license.
Those granted a Golden Visa will not need a sponsor but will have to personally absorb related fees. Principal Golden Visa holders can sponsor family members, including spouses and children. If an expat’s work contract comes to an end, the Golden Visa provides the main holder with the freedom to explore new job opportunities for its duration.
Other benefits include:
- If you have to leave the UAE for more than six months, a residence visa will still be valid.
- The UAE allows Golden Visa holders to sponsor an unlimited number of domestic helpers.
- No personal income taxes in the UAE
- Business setup in Dubai without any sponsor
- Tax-free rental income
- 100% business ownership
- The ability to sponsor unlimited number of domestic helpers
- Esaad privilege card, which provides discounts on school fees, eating out, leisure activities, healthcare, and more.
What Are The Requirements For A UAE Golden Visa for skilled professionals
The eligibility criteria for the Golden Visa vary from person to person, depending on their category. However, the Dubai Golden Visa requirements are as follows:
The minimum monthly salary threshold for obtaining a Golden Visa, without the need for employer sponsorship, has been reduced to a tax-free AED 30,000 (equivalent to USD 8,169), down from the previous requirement of AED 35,000. Here is the list of required documents to submit your application:
- Passport Copy
- Residency and Emirates-ID copy
- Salary Certificate showing monthly salary of AED 30,000 and above ( Arabic)
- Bachelor degree translated to Arabic and MOFA attested
- Personal bank statement of last 6 months.
- Employment contract signed by the employee and employer
- Labor Card
Successful applicants for the Golden Visa can choose between five- or ten-year visa options, both of which come with automatic renewal. This flexibility is an added advantage for those who meet the monthly salary requirement, allowing them to extend their stay in the UAE if they wish.
Without the requirement for a sponsor when applying for a Golden Visa, founders and executives have more autonomy. For instance, if a company decides to cease its operations in the UAE, Golden Visa holders and their dependents are no longer compelled to leave the country within 30 days. They are permitted to remain for the remainder of their visa duration, even in the event of the main visa holder’s passing.It’s important to note that even if an applicant satisfies all eligibility criteria, the issuance of the Golden Visa is subject to approval by the relevant authorities.
Why FreeZoneMarket ?
FreeZoneMarket.ae Powered by FZM Solutions DMCC Can assist you to obtain your Golden visa in Dubai, to extend your residency in the UAE, and relocate here, whether you are an Investor, executive, or employee, we can handle the onboarding process of all your visa documentation, PRO Services Company registration and dependent visa application. Our team with over 15 years of experience will assist for the entire process. We work consistently with different government authorities, so have a direct line of contact that can be invaluable throughout any application processes. Contact FreeZoneMarket NOW ad get FREE CONSULTATION for your company setup and obtaining Golden Visa in UAE:
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