Silver visa UAE is one of the residency programs by the UAE government for foreigners looking for a medium-term residency. If you want to start a business, invest, have a special talent, or are retiring, getting a silver visa is an ideal option. The visa is more affordable and offers many benefits at a lower cost than a UAE Golden Visa. There is no need to invest AED 20 million in property or earn AED 30,000 a month to qualify for a silver visa. Moreover, it offers low rental rates and amazing discounts on banking services and healthcare.
The silver visa in the UAE is a 5-year residency visa along with the option of sponsoring your family members, such as spouses, children, and parents. The residence visa is renewable after five years, along with a 6-month grace period after the visa expiration date. Let’s discuss the legal requirements to obtain a silver visa in the UAE and why it is an attractive option for investors.
What is a Silver Visa UAE?
Silver visa is an affordable 5-year residency program introduced by the government for entrepreneurs, investors, and retired professionals. Just like any other country, you must hold a proper visa to stay and work in the UAE, and a Silver visa is one of the best options.
The main purpose of a silver visa is to attract foreign inventors who wish to invest or start a business in the UAE. Moreover, it offers residency to those who wish to retire and live peacefully in the UAE. Silver Visa is more affordable than a Golden Visa UAE if you do not have enough resources for investment.
Another benefit that a silver visa offers is that there is no need for a local sponsor, allowing you to work and earn independently. With a 5-year residency, you can live in the UAE for 5 years to pursue your business aspirations and goals.
Silver Visa UAE: Categories
There are different types of silver visas in the UAE, each with its own requirements and eligibility conditions. Here are the types of silver visas in the UAE, along with their eligibility requirements.
Silver Visa for Investors and Businesses
Another popular category of a silver visa is obtaining it through investing in a business, real estate, or other certified investments. The investors must invest AED 1 million to obtain a silver visa and renew it after 5 years if they maintain the investment.
Silver Visa for Professionals
The Silver Visa is also available for exceptional talents and professionals in the fields of arts, culture, science, and knowledge. This category includes doctors, scientists, and creative talents. Applicants must provide proof of qualification in their respective fields to show their eligibility for the visa.
Silver Visa for Retired Individuals
Old and retired foreigners who wish to retire and live in the UAE can also apply for a Silver visa. The retired person must be at least 55 years old in order to get their visa. Moreover, they must have an investment of no less than AED 500,000 in their pension fund account. Alternatively, they can make an investment of at least AED 1 million in a property.
Silver Visa for Students
Young and exceptional students with outstanding credentials can also apply for a UAE silver visa. The criteria for high school students are having a minimum grade of 95%, whereas university students must have a 3.75 GPA to apply.
Silver Visa UAE: General Requirements
To obtain a Silver Visa in the UAE, all applicants must fulfill the following criteria,
- Age. The applicant’s age should be at least 18 years (55 for a retired person)
- Passport. The applicant must have a valid passport with 6 months’ validity.
- Medical Fitness. A medical fitness certificate to show that the applicant is in good health.
- Health Insurance. They need to possess health insurance coverage.
- Clean Criminal Record. Additionally, the applicant must provide proof of a clean criminal record in their home country and in the UAE. The authorities verify the record during the visa application process.
What is the Application Process for a Silver Visa UAE?
Applying for a UAE Silver Visa is a straightforward process, and with the introduction of online services, the process becomes easier. Here’s how you can apply for a Silver visa.
Determine a Category
Determine a visa category that you want to apply for: investors, professionals, or other.
Prepare Documents
Once you have selected the visa category, prepare the required documents, such as a passport, proof of investment, a passport-sized photograph, criminal record clearance documents, and a financial statement to show financial stability.
Submit Application
Submit your application through a service center or a government-recognized online portal. You can choose an online or offline process according to your preference. Submit your completed application form along with the required fee and documents.
Visa Approval and Issuance
Once your application gets approval from the authorities, your silver visa will be issued.
What Documents are Required for a Silver Visa UAE?
The applicant must submit the following documents along with the visa application.
- Proof of investment (for investment category).
- Passport-sized photos.
- Valid passport with 6 months’ validity.
- Health insurance documents.
- Criminal record clearance certificate.
- Medical fitness certificate.
- Financial statements.
Please note that you may need additional required documents for different categories.
Difference Between a Silver Visa & Other Visas in the UAE
There are visas offered by the UAE government that you can choose according to your preference. Let’s understand the difference between a silver visa, a green visa, and a golden visa in the UAE.
Silver Visa vs Golden Visa
A silver visa grants a five-year residency to individuals starting a business in the UAE, investing in real estate, or looking to retire with a minimum age of 55. The investment requirement of a silver visa is less than that of a golden visa. On the other hand, a golden visa offers 10-year residency to high-earning individuals, professionals, and talents. The golden visa offers many benefits, a longer residency period, and a wide range of categories compared to the silver visa.
Silver Visa vs Green Visa
The main difference between a silver and a green visa is their purpose. Silver visa is a more preferable option for those looking to invest in the UAE real estate and make financial commitments. In comparison, a green visa is more suitable for entrepreneurs, skilled professionals, and freelancers who can obtain a visa based on their experience.
Final Words
The Silver Visa UAE is one of the most affordable and best options for those looking to invest, work, retire, and live in the thriving economy of the UAE. While offering world-class infrastructure and business flexibility, it lets you sponsor and stay with your family, whether you are an investor, entrepreneur, or a retiree who wants to establish a presence in the UAE.
With Al Riyady, you can get a 5-year silver residence visa and a trade license with AED 59,999. The silver visa package also includes services like corporate tax registration, bank account opening, and sponsorship for your family members.
