Golden Visa in Dubai - Everything you need to know 2022 Updated

In 2019, the UAE carried out a new framework for long-term residence visas. The new framework empowers the foreigners to live, work and study in the UAE without the need for the support of any sponsor and with 100% responsibility for business on the mainland of UAE. These golden visas in Dubai will be given for 5 or 10 years and will be renewed automatically.

The long-term UAE visa is also known as the Dubai golden visa has gained popularity and is one of the top trending topics in the country since the time it was presented. The most recent UAE visa guidelines require candidates and individuals with various careers to apply for a UAE 10 years’ visa of residence. Organizations that are outside of free zones would now be completely owned by foreigner such standards have demonstrated to be great news for the individuals who are living and at the same time working together in Dubai and for the individuals who are considering to move to the country.

What is UAE Golden Visa?

A golden visa is a type of award given to well-off individuals who need to place in generous investment in a country for the chance to live there. Governments utilize the UAE golden visa to grow their foreign Investment in the country as well as grow the GDP of the country.

Prime Minister, Vice President of UAE and the ruler of Dubai H.H. Sheikh Mohammad bin Rashid Al Maktoum introduced a new UAE residence framework named the golden visa card. The Dubai golden visa awards residence for 5 or 10 years rather than the ordinary two-year residence visa. A business visa UAE is a component of the golden visa program empowering permanent foreigners and residents to get visas that are long-stays for themselves along with their dependents. These dependents may be your parents on the basis of various conditions that are build-up by the government for citizenship and identification.

Business visa depends on the concept of permanent residence given that the candidate follows the terms and conditions of every renewal cycle i.e. every 5years. The expats not only living but also working in Dubai typically hold a renewable residence visa that keeps going at least for two years.

Golden Visa in UAE fundamentally offers long-term residence to a list of people. The government of Dubai gives Golden Visas to Investors, Professionals (Engineers or Doctors), Property Owners, Students with promising capacities, and specific skillsets and expertise in different fields of science and information.

The process of a residence golden visa in Dubai began in the year 2019 on May 21, and the General Directorate of residence and Foreign Affairs (GDRFA) declared and arrived at an objective of sixty-eight hundred golden visas given out before the year's over.

What does Dubai golden visa offer?

The Dubai Golden Visa framework basically offers long-term residence (UAE 10 years’ visa of residence) to individuals having a place with the accompanying groups: investors, researchers, doctors, engineers, students, and those within the fields related to science and knowledge.

The primary advantage of the visa will be security as, through the issuance of the Golden Visa in Dubai, the government of Dubai has clarified that they are focused on giving expatriates, investors, and basically, everybody hoping to make Dubai their home an additional reason to have a sense of safety about their future. The additional benefits we have seen in Covid 19 time where all other visa holder was not allowed to enter UAE from other part of the world but the person who was having golden visa was allowed to enter in UAE without any hesitation.

Benefits of Dubai golden visa

Dubai Golden Visa has gained massive popularity around the world. These golden visa programs are expanding in amount and frequently in quality. With a number of countries introducing their golden visas, in the year 2019, Golden visa in Dubai was launched too. In any case, great numbers of their advantages are as yet not generally known. The good part about these Golden Visa programs offered by the venture programs is essentially either residence or citizenship. Citizenship in another country, or even residence, especially if the target country is more developed than one's own country is a prize altogether. There are various reasons why individuals eligible should consider getting golden visas to be presumably the best speculations of the current events.

• No need for national sponsors

The new framework of golden visa in UAE empowers the foreigners to live, study, and work in Dubai without any need of national sponsors and with 100% accountability for business on the land of Dubai. These visas are issued for either 5 or 10 years and will be renewed automatically.

• Multiple accounts

It is a great idea to have the option to call another country your house since then it is simpler to have an account in that country. More banks mean less danger of your funds reserved consuming with the crisis. Getting into a country by a Golden Visa makes it a lot simpler to have another protected vault for your reserve funds by smoothing out the financial arrangement of that country for you.

• Ease of travel

The golden visa holders are treated like they are nationals of the UAE. Hence, it gives an easy hand in regards to traveling. So, you do not need to apply for the visa again, you can live, study and work throughout UAE without any inconvenience.

• Valuable investment

Since purchasing a house is a prerequisite for the greater part of the Golden Visa programs, they are overlooked often times as simple expenses of the program. Individuals purchase houses, to get either a residence by investment or citizenship. However, there is something else entirely to it. Numerous nations that offer Golden Visa, are recuperating very quickly from their most recent downturn economically. This implies that their housing market is frequently on the ascent. Essentially, odds are the house you purchase as a part of your Golden Visa necessities will get you more money over the long term.

• 0% Corporate and Income Tax

Since UAE is a tax free country, investor and foreign national can enjoy the benefits of avoiding tax in their country by issuing a tax residence certificate from UAE. All the income and profits are tax free in UAE so one can get benefits of this by investing in Dubai either in properties or bonds or into business setup in Dubai.

Some other features and UAE golden visa benefits include:

• Permanent residence for the Golden cardholder.
• The advantages of Permanent residence likewise incorporate the children and spouse of the holder of UAE golden visa to guarantee strong social ties.
• According to reports, the UAE government announced getting 6,000 applications from investors and business people looking for long-term residence visas, in the first week.
• According to the statements, around 6,800 expats from 70 diverse nations. will be given the Golden Card under the first round of UAE golden visa applications.
• These first clusters of investors would hold an absolute investment of AED 100 billion ($27 billion).
• The new visa rules are required to help in absorbing current and upcoming supply and help the market in the adjustment of prices

New Eligibility Updated 2022

According to recent guidelines regarding UAE 10-years Golden Visa, those who are qualified to apply for the Golden Visa include investors, business owners, persons with specialized skills, researchers in many sectors of science and knowledge, and exceptional students who have remarkable scientific potential. They all can apply for a 10-year Golden Visa under certain conditions.

UAE Golden Visa Requirements or Category

There is a list of particular people who fall in the criteria of UAE Golden Visa eligibility including Investor, Student, Professional (Engineer or Doctor), and Property Owner. The requirements for each group vary but are liable on the adherence of individuals to the terms and conditions under which the Golden Visa was granted.

UAE Golden Visa Eligibility Requirements

Requirements for UAE golden visa for investors

For the 10-year visa, investors having no less than AED 2 million worth of public investment, either as an organization or form of an investment fund, can apply. In any case, at least 60% of the complete investment should not be as loaned and in the form of real estate, or in the case of resources, investors should expect full possession.

The investor should have the option to hold the investment for at least three years. This 10-year long golden visa in UAE might be extended out to incorporate colleagues or partners, giving that each accomplice contributes 2 million AED. The drawn-out visa can likewise incorporate the spouse and children of the holder just as one advisor with its executive director.

Golden Visa for Property Investors Updated

Real estate investors can apply for a 10-year Golden visa in UAE if they have an investment into properties with a minimum of DH 2 million.

Golden Visa for Entrepreneurs Updated

• Owner or are a partner in a start-up that is registered as a small or medium-sized business (SME) in the UAE and that brings in at least AED 1 million in annual sales.
• Get the Ministry of Economy, an official business incubator, or other appropriate local authorities to approve your startup concept.
• Must have started an entrepreneurial venture that was sold for at least AED 7 million in total.

Golden Visa for Executive Directors Updated

Senior personnel receiving a salary of AED 30,000/- and above who have been working in the company in a managerial position now can get a golden visa for 10 years whereas previously the salary criteria to get a golden visa was 50,000 AED.

Golden Visa in UAE for Pharmacists, and Nurses

From September 1, 2022, all registered nurses and pharmacists in the UAE may apply for the 10-year Golden Visa.

UAE Golden Visa for Lawyers 

Lawyers can also apply for 10 years UAE golden visa, but he must have a UAE labour office card.

UAE Golden Visa for Students

• Outstanding students attending accredited colleges and institutions in the UAE or elsewhere may also apply for long-term resident permits.
• Students who completed 12th standard in UAE with an average of 95% marks shall also apply for a 10-year golden visa UAE.

UAE Golden Visa Categories and Types

The Business Golden Visa In Dubai

The business golden visa offers residence on a permanent basis to the business visionaries that are non-resident and non-national and those who wish to set up business in Dubai. This permanent residence is liable on the continued candidate's adherence to the agreements on the cycle of each visa renewal that is of 10 years.

Entrepreneurs across the globe can apply for the business golden visa in Dubai given they have set their own business essentially once in their life. To get a golden business visa, qualified entrepreneurs need to:

• Hold/have held the greater number of shares in a startup and/or a senior leadership role in it
• Validate their experience regarding the business
• Have a business plan or idea for their venture in the UAE
• Be willing to legitimately set up a business and migrate to Dubai

UAE Golden Visa Application

A number of individuals in Dubai have been granted a golden visa in acknowledgment of their outstanding status. The 10-year residence visa is given to individuals who have made a remarkable commitment to the nation, have valued skills, or work in key businesses that are essential to monetary development. Lately, many students from high school who accomplished high grades were allowed golden visas for themselves, their mother, father, and siblings. The process of a visa is unique in relation to applying for an ordinary residence visa.

Golden visas eligibility incorporates investors, business visionaries, people with particular skills, specialists in different fields of science and information, and brilliant students with great college GPAs or high school scores with promising abilities and competencies. At times people are selected for Emirates golden visa by senior Emiratis or government bodies, and in different conditions, individuals apply on the web. Assuming an individual is granted a golden visa, their children along with spouses can likewise apply.

Candidates need to record their interest on the Federal Authority for Identity and Citizenship (ICA) site of UAE. There is a special region for golden services.

In case you are from one of the qualified classes, however, have not yet been selected, then, at that point, you need to apply by means of the "Visa - Golden Visa - Nomination Request for Golden Residence - New Request" labeled box. There is an online form that demands your details, in addition to the class under which you trust you can be nominated. You will likewise require your Unified Identification Number (UID). UID is a six-digit number consequently assigned to any individual who enters Dubai.

All interested individuals who might want to apply for the Golden Visa may do as such by applying for the visa online at the electronic portal. The process is very direct with candidates needed to present the important documents and be willing to migrate to Dubai in understanding with their business ventures.

The service of immigration of UAE, the Foreigners Affairs, and the General Directorate of residence, has additionally set up another group to deal with applications for golden visas. It is known as "You are Special", the help is available throughout the day on the web or by calling 800-5111.

The cost of The Golden Visa in UAE

In case you are right now residing outside of UAE, you will be allowed a visa for six months to enter the country, investigate the chances, and settle.

In order to apply for this multi-entry visa, you need to fill in an online form. There is one for investors, and one for business people and outstanding students. Dubai Golden Visa costs varies per individual and type of golden visa applied for. The six-month-long visa for individuals with specialized skills is just a single entry. During this period, you will be needed to change over your temporary visa into the residence license. However, the UAE Golden Visa cost, respectively the costs depend on different factors including medical, emirates ID and change of status. To know more about the cost and amount for a particular case contact Avyanco Golden Visa consultants to guide you.

How Avyanco Can Help in Getting Golden Visa

Avyanco is a certified auditing firm and business setup consultant in Dubai with a team of qualified and proficient specialists. Having our HQ in Dubai, we help with company registration and providing all financial consistency services to upcoming foreign companies and business visionaries in UAE.

The team of Avyanco is loaded with a bunch of agile PRO executives, farsighted business setup consultants, offshore personnel, seasoned lawyers, and operations staff, all ready to provide customized financial services and consultation. The finance experts here are known for their customer-centric approach carrying the attitude that is quality-oriented and plans to serve their customers with devotion streamlining their perspectives financially.

UAE is a market that challenges you and gets the best out of your latent capacity. Considered perhaps the most enhanced economy makes Dubai is profoundly worthwhile for upcoming businesses and its visionaries to make their space on the market. In any case, aside from its advantages, setting up a business in UAE accompanies a bunch of complex difficulties that require important consultation and advisory.

It looks extremely easy to begin a business in Dubai however it requires qualified and master professionals or organizations who can deal with all the public authority-related work. The wide scope of services offered includes bookkeeping and accounting, business trade license in Dubai, external and internal auditing Services, company registration in Dubai, trademark registration, VAT consulting and VAT registration, UAE local sponsorship, and visa and PRO services. Our approach is according to our customer's necessities and prerequisites as we understand that each business is unique in its own way.

Infused with the center principles of transparency, productivity, trust, innovation, obligation, and respect regarding one's action, we are proud to say that our company depends on building connections by delivering on the expectation of our customers ensuring their fullest satisfaction At Avyanco, the team takes your idea of your dream company in Dubai further and helps you in each stage of your business development, which has assisted us with achieving an unwavering position in the market today.

Our services include:

• Visa Services
• Company Registration and Formation
• UAE Local Sponsorship
• Corporate PRO
• Accounting and Bookkeeping
• Trademark Registration
• VAT Consultation and Registration
• Internal and external audit
• Ultimate Beneficial Owner Disclosure
• AML Regulations
• Company License Renewals
• Document Clearing
• Economic Substance Regulation

Golden Visa in UAE Final Thoughts

Getting a Golden Visa in UAE means that an investor is eligible to reside in the United Arab Emirates for 10 years depending on which type of UAE Golden visa you have applied for and your Golden Visa Eligibility in Dubai especially if your main goal is to live in Dubai even though it allows you to legally stay anywhere else in the other UAE Emirates.

Dubai Golden Visa benefits help you conduct your business activities smoothly at a long-term pace without spending your time and energy renewing a visa as it has ten or five years which is enough for any busy business investor.

Eventually, once you meet Dubai Golden Visa requirements, the Avyanco team will take over the process of getting a Golden visa on your behalf so that you can concentrate on your other important business activities.

FAQs

1. Can I Get Golden Visa in UAE?

A list of specific individuals who meet the requirements for the UAE Golden Visa includes investors, students, professionals (engineers or doctors), and property owners. The standards, requirements, and eligibility criteria for each category are different, but they depend on how closely recipients of Golden Visas abide by the rules and regulations.

2. How to Get UAE Golden Visa for Entrepreneurs?

You can obtain a golden visa if you fulfill one of the mentioned requirements:

• Acquire approval for a start-up idea from the Ministry of Economy or any relevant regulations.
• Partner in a start-up registered as an SME and the company earns annual revenues of not less than one million AED.
• You own an economic project of a technical or future nature based on risk & innovation

3. How to Get a Golden Visa in Dubai for Students?

Outstanding students enrolled in accredited universities and colleges in the UAE or overseas are also eligible to apply for long-term residency visas. Moreover, students who successfully finished their 12th grade in the UAE with an average grade of 95% may also apply for a 10-year golden visa through the portal.

4. What Are UAE Golden Visa Requirements for Doctors?

Doctors might also apply for UAE golden visa. They have to provide a below-mentioned document to the concerned department:

• Visa copy
• Medical Test
• Passport copy
• Personal Photo
• Valid Medical Insurance
• Approval letter from the Ministry of Health in UAE

5. What are UAE Golden Visa Rules?

A list of specific individuals who meet the requirements for the UAE Golden Visa includes investors, students, professionals (engineers or doctors), and property owners. The requirements for each category vary; however, they are liable to adhere to the individual terms and conditions under which the golden visa is granted.

6. What Are The Requirements to Get Golden Visa in Dubai for Foreign Investors?

• Investors who have at least AED 2 million in public investment may apply for a 10-year visa through an organization or investment fund. Or shareholding network of AED 2M in the company in the UAE.

• A letter from the bank in Arabic form showcasing a "fix deposit" of AED 2M.
• The foreign investors pay VAT tax of AED 250 000 from his company per annum

7. What is The Process for Golden Visa in Dubai?

All potential applicants for the Golden Visa may do so by submitting an online visa application through the electronic portal. Candidates willing to relocate to Dubai in accordance with their business endeavors must submit the necessary paperwork to the concerned department.

8. What Is the Eligibility of Dubai Golden Visa for Executive Directors?

Previously, the income requirement for obtaining a golden visa was 50,000 AED; however, executive directors and senior personnel earning AED 30,000 or more and holding a managerial position within the organization are now eligible to receive a golden visa for ten years.

9. What Are the Benefits of UAE Golden Visa?

UAE Golden Visa offers countless benefits to the holders including:

• Ease of travel
• Multiple accounts
• Valuable investment
• 0% Corporate and Income Tax
• No need for national sponsors
• Can sponsor the parents
• Can sponsor the children with unlimited age
• No need to travel every six months to UAE

10. “I Want to Get a Golden Visa in Dubai” How Should I Apply?

All potential applicants for the Golden Visa may apply for the visa by submitting an online visa application through the electronic portal. However, it is highly recommended that you consult with the right, trusted, and reasonable business setup and advisory. Avyanco is a certified business setup consultancy helping foreign investors from obtaining visas to relocate to Dubai to start their businesses successfully.

Team Avyanco will eventually take over the process of securing a Golden visa on your behalf once you meet all the requirements so that you can focus on your other crucial business endeavors.