The golden visa of UAE is currently one of the world’s most in-demand documents or cards.
The golden visa is considered as your permit to live in Dubai for the long term. In the start, it was given to those who were playing their role to grow the economy of the country which mostly included highly skilled people. Getting a golden visa now is not that difficult as the government has made the procedure very easy.
UAE Golden Visa new rules have made it very simple to get your golden visa. With a minor change in the rules of salary, there is a slight change in the eligibility of scientists and other high-end professions.
What is meant by Golden Visa?
A Golden visa lets you stay in the UAE for either 5 or 10 years depending on the type of the visa. It’s specifically intended for scientists, foreign investors, and other outstanding exceptional talent who wish to reside within the UAE for a longer duration.. So if you fall into any category for a golden visa apply and contribute to this growing economy.
UAE Golden Visa New Rules
Following are some of the new rules for the UAE golden visa
Down Payment Elimination
This new rule removes the down payment rule of AED 1 million for property investment to apply for a UAE golden visa.
Qualification Standards
If the property is valued at 2 million AED, then the individual is eligible for a UAE golden visa. The status of the property or even the down payment doesn’t come into consideration in this case.
10-Year Residency
A golden visa of UAE is valid for 10 years which gives investors a lot of time to merge into the economy of UAE. It can be renewed under the same terms when expires.
Disadvantages and Advantages of UAE Golden Visa
UAE Golden Visa Advantages
The UAE government has launched the Golden Visa scheme which offers additional protection to those people who are willing to make their future in UAE. There are multiple advantages of the UAE Golden Visa.
Extended Residency
Someone holding a UAE golden visa can stay in the UAE for 10 years. It also has other perks, like if one holds a standard residency visa, then it requires renewal after every two or three years.
Self-Sponsored Work
The UAE golden visa holder can work for another company or be self-employed without the need for a proper sponsorship. They can live, work, and study in the country for the entity of visa without having local or any other employment.
Sponsor Family and Domestic Helpers
The Golden Visa of UAE allows their holder to sponsor their spouse, children, and parents irrespective of their age. In case the golden visa holder passes away their family is still allowed to live in UAE until the golden visa expires.
You can also sponsor domestic helpers and there is no number limit for that. The government does not limit the number of employed and domestic house help you sponsor.
Long Visits Outside UAE
A golden visa holder can spend his time outside of the UAE as much as he wants without any kind of restriction or bad impact on his golden visa. This is not implemented for people who have standard visas as their visa would get reversed if they spend more than 6 months outside of UAE.
Health Care Packages
UAE golden visa holders would be eligible for special health insurance packages as announced earlier. These healthcare packages are divided into 3 categories Core Silver, Enhanced Gold, and Premiere. These packages are available for all UAE golden visa holders and their dependents who do not have any existing health insurance plan, and they will be subjected to annual renewal.
Disadvantages of UAE Golden Visa
No Citizenship
This means that one of the disadvantages for a UAE golden visa is that all of this residency tenure does not lead to citizenship. You may renew your golden visa as many times as required but it doesn’t lead to citizenship.
UAE Golden Visa Processing Time
The golden visa takes around 5-6 days to get issued after all the required documents are submitted and initial approvals.
Eligibility for UAE Golden Visa
Some general golden visa eligibility requirements include.
- A person should not be a national of the United Arab Emirates.
- A person should have a valid passport.
- Your criminal record must be clear.
- You should strictly meet all the requirements for the category you are applying in.
Golden Visa for Public Investors
You should have at least 5 million AED that you will then invest in your public project within the borders of the United Arab Emirates. It is also quite significant to ensure that the particular project you wish to invest in has been approved by the government authorities of the UAE.
Golden Visa for the Entrepreneur
This requires an application and registration by the Ministry of Economy and must have a business within UAE, while your business should have employed at least 10 natives of UAE if you want a golden visa under this category.
Golden Visa for Exceptional Talent
If you are a professional in these fields like sport, education, or science then you are eligible to get a golden visa in this category. You must have significant contributions in your respective field.
Golden Visa for Scientists
One needs to be highly qualified as a scientist holding a PhD degree. There must also have at least 10 research papers published in international journals in order to be considered for the UAE golden visa under this category.
Golden Visa for Skilled People
If you wish to be qualified enough to apply for a golden visa under this category, then you will need to have a bachelor’s degree and experience of at least 5 years in your respective field. Note that the profession you are in must be on the list of eligible professions.
Golden Visa for Students
As an applicant who wishes to qualify for the golden visa in that given category, you are supposed to have a valid student visa, and, further than this, you are supposed to gain admission into a full-time degree program in any accredited university located within the United Arab Emirates.
Golden Visa for Humanitarian Workers
If you want to be eligible to get a golden visa in this category you must have significant contributions to humanitarian cases. You must also belong to or be recognized by a reputed organization.
Golden Visa for Doctors
You must also have at least 5 years of experience in your relevant field and you must also hold a valid license to practice medicine in UAE. If you want to be eligible to get a golden visa in this category.
Extension and Cancellation
If you have fulfilled all eligibility criteria for the Golden Visa then the Golden Visa of United Arab Emirates can easily be stretched up to the next 5 or 10 years. In case you have committed any offense in some term with visa or you are guilty of some kind of crime then your Golden Visa can also be cancelled instantly.
Conclusion
Right now, with the economy of UAE growing at a fast speed, you have a good opportunity to be part of this economy with a golden visa. While getting a golden visa may seem difficult after UAE Golden Visa new rules, you do not need to worry; Al-Riyady is here to help you cut through all these complications, easy. Our experts will take proper care of the whole process to obtain your Golden Visa. Therefore, contact us now and get your Golden Visa to be a part of UAE’s growing economy.
