The golden visa was launched by the United Arab Emirates (UAE) in 2019 as a long-term residency scheme to grant professionals 10-year golden access. International investors and the best talent from around the world can obtain visas in Abu Dhabi under the UAE’s Golden Visa program. This covers professionals and researchers in the sciences and other domains of knowledge, including physicians, specialists, scientists, and inventors. Additionally, it is available to the emirate’s business, entrepreneurial, and real estate investors as well as skilled creative, and athletic persons.
Why was the UAE GOLDEN VISA introduced?
The golden visa was introduced in order to promote the UAE as a location for commercial investment and to promote regional economic growth. The visa was established to honor long-term residents and their contributions to the advancement of their nation. By providing them with a long-term visa that is valid for ten years and may be renewed, the golden visa is a way to acknowledge and thank them for their commitment.
Who can apply for the Golden card?
Entrepreneurs, top executives, investors, talented students, and scientists are among the five non-resident categories that are eligible to apply for the golden card.
What are the expected requirements?
They must meet at least one of the requirements listed below:
- must deposit up to 10 million dirhams in a UAE investment fund.
- a partner in a corporation with a stake worth up to 10 million dirhams or an owner of a business with a capital investment of 10 million dirhams.
In addition, the following requirements must be met:
- Investment money should be entirely owned rather than financed by a loan, and sufficient documentation must be provided.
- The investment had to have been held by the applicant for at least three years.
- The applicant must possess proof of insurance for both themselves and their dependents.
- The proprietors of a project in a UAE-certified industry with a value of at least 500,000 dirhams are required to apply.
- The applicant must be the project’s originator and a recognized business incubator.
- They also need to have personal and family health insurance.
- A professor from any of the top 500 foreign universities recognized by the ministry of education may apply.
- A candidate with a prize or recognition certificate for his field of expertise may also apply.
- Scientists with a Ph.D. and 20 years of relevant experience who have significantly advanced their field of study
- Specialists in disciplines important to the UAE should apply.
- A bachelor’s degree or its equivalent is required
- Must have at least five years of experience. Must be employed in the UAE and get a salary of at least 30,000 dirhams.
- Family members, who are required to have health insurance, must be covered.
ELIGIBILITY REQUIREMENTS FOR OTHERS
The ministry of the economy must have approved the patent for it to meet the requirements for inventors, who also need to have a patent that is valuable to the economy of the United Arab Emirates.
In addition, the UAE Ministry of Culture and Knowledge Development must authorize the program’s art and culture specialists.
How can Kloudac help you?
When you set up your business in Dubai, you would need support from the best of the best to identify your business’ needs and cater customized innovative solutions from setting up until growing it. KLOUDAC specializes in Accounting, Auditing, Taxation, Financial Consultancy and Accounting Software Implementation for all your business needs. We have a team of qualified accountants (CA, ACCA, CIMA) who are really dedicated to provide a quality and reliable service to our clients. KLOUDAC was founded with a profound vision of assisting SMEs and Startups in the UAE. We have managed to acquire a large and reputable clientele in various sectors in a few years of time. We continue to grow along with our lients as their success stories equals our success.
Contact us now for inquiries,
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KLOUDAC Accounting Firm Dubai, UAE
KLOUDAC is a recognized accounting firm in Dubai, UAE with 15 years of service experience. We have built connections with over 500 customers. It has also won the certification of Xero Payroll and the certification of Xero advisor from the world-leading online accounting software – XERO. Moreover, KLOUDAC is a golden champion partner of Xero.