Golden visa - Long-term residence visas in the UAE
In 2019, the UAE implemented a new system for long-term residence visas. The new system enables foreigners to live, work and study in the UAE without the need of a national sponsor and with 100 per cent ownership of their business on the UAE’s mainland. These visas will be issued for 5 or 10 years and will be renewed automatically.
Golden visa eservices
Cabinet Resolution No. 56 of 2018 Regarding the Organization of Residence Permits for Investors, Entrepreneurs and Professional Talent regulates granting golden visas to:
- investors
- entrepreneurs
- specialized talents and researchers in various fields of science and knowledge
- bright students with promising scientific capabilities
Eligibility for a 10-year visa
The following categories are entitled to apply for a 10-year residence visa in the UAE.
1-Investors in public investments of at least AED 10 million.
The investment may take many forms such as:
- A deposit of at least AED 10 million in an investment fund inside the country
- Establishing a company in the UAE with a capital of not less than AED 10 million
- Partnering in an existing or a new company with a share value of not less than AED10 million
- Having a total investment of not less than AED 10 million in all areas mentioned, on condition that the investment in sectors other than real estate is not less than 60 per cent of the total investment.
Conditions
Granting a visa is subject to the following conditions:
- The amount invested must not be loaned.
- The investment should be retained for at least three years.
- There should be a financial solvency up to AED 10 million.
Visa can be extended to include business partners, on the condition that each partner contributes AED 10 million. The long-term visa can include the spouse and children, as well as one executive director and one advisor. Investors from abroad may apply for a multiple-entry permit for a six-month period.
