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Details on the UAE Golden Visa's Benefits, Requirements and Cost-2024

Details on the UAE Golden Visa's Benefits, Requirements and Cost-2024

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From highly developed infrastructure and flourishing economy to a high-quality lifestyle and secure government, the reasons for residing in the United Arab Emirates are endless. With this range of benefits, many people are choosing UAE as their place of long-term residence. To sustain its development, the United Arab Emirates has also introduced several programs to attract and retain residents and skilled workers in the country through many initiatives, including the Golden Visa UAE. The Golden Visa was introduced in 2019 as a long-term residency program that allows exceptionally talented individuals, investors, entrepreneurs, and their families to work, reside, and study in the UAE for up to 10 years. Investors, entrepreneurs, exceptionally talented individuals, and humanitarian workers are among those who can apply for a Golden Visa without the need for any sponsor. Golden Visa also gives residency to the family members of their residency.  

What is Golden Visa Benefits?

benefits of golden visa

  • Long-term residency

Golden Visa UAE provides an extended period of residency of up to 10 years unlike other visas, enabling access to the wide range of global opportunities in the United Arab Emirates Long-term residency is not only integral for career development, but also personal development through access to world-class healthcare, facilities, and a secure governmental framework of the United Arab Emirates.  

  • No requirement for sponsorship

The Golden Visa holders can live, work and study in the United Arab Emirates for an extended period without the need of sponsorship for employment. Individuals can work for themselves or in an organization without sponsorship. This advantage is not available in the other types of visas, where employment and sponsorship are required.

  • Family Sponsorship

Golden Visa UAE allows its holders to sponsor families, including spouses and children. This inclusion allows them to benefit from the same opportunities in the United Arab Emirates and allows families to stay together without frequent visa renewals. Additionally, individuals with a Golden Visa can also sponsor domestic workers.

  • 100% ownership

Entrepreneurs and investors with a Golden Visa can own their businesses completely without the need for a local sponsor. This has significant benefits, as it provides business owners with more control over their operations.

·        Tax Benefits

The United Arab Emirates is rightfully known as a tax haven, providing its residents a range of tax benefits. One of the most appealing aspects is the absence of personal income tax, which allows significant savings. The UAE corporate tax rate of 9% is comparatively lower, and other additional benefits, such as 100% foreign ownership and full repatriation, are also provided.

What is Golden Visa Requirements?

  • Investors in Public Investment

Investing in an investment fund can grant a Golden Visa for a period of 10 years without a sponsor. This is subject to the submission of a letter from an investment fund accredited in the UAE stating the submission of AED 2 million by the investor, commercial or industrial license with a memorandum of association, and a letter from the Federal Tax Authority stating that minimum AED 250,000 is paid by the investor annually to the government.

  • Real Estate Investor

Individuals owning property or a group of properties can be granted a Golden Visa for up to 5 years. To be eligible for this, the minimum investment property requirement is AED 2 million. However, some relaxations have been provided recently to real estate investors seeking to apply for a golden visa. The requirement to complete the downpayment of AED 1,000,000 on the investment property has been eliminated. The license is renewable with similar conditions to those of investors, subject to the AED 2 million investment and purchase of a property with a loan from a local bank approved by the authority.

  • Entrepreneurs

Entrepreneurs in the United Arab Emirates owning an economic project of a technical or future nature based on risk and innovation can be granted a Golden Visa for a period of 5 years. For this, you must have an approval letter from a UAE Auditor’s letter stating that the project is not less than AED 5,00,000, the Emirates authority stating that the project is technical or future-oriented, and an accredited business incubator in the UAE.

  • Outstanding Special Talents

The Specialized Talents category includes scientists, doctors, investors, inventors, executives, and athletes. High school students, educational professionals, or national-level toppers can be eligible for a Golden Visa if they have a minimum 95 % grade in a public or private school (in the case of high school) and not less than 3.5 CGPA and 3.8 CGPA for A class and B class university students, respectively.

What is Golden Visa Cost?

cost of golden visa

The Golden Visa Cost is dependent upon the category that meets your eligibility. Whether you are applying as a university graduate, an entrepreneur, or a real estate investor, there are different Golden Visa requirements. The Golden Visa Cost also depends upon its validity since it provides long-term residence for up to 5 or 10 years. Additionally, the application fees and the issuance fees will also be applicable along with the Golden Visa. To check your eligibility and the accurate Golden Visa Cost, contact AMCA, one of the top firms providing Golden Visa services.

Unlock Opportunities with Golden Visa: Trust the Expertise of AMCA

AMCA stands out as the premier choice for individuals seeking assistance with the UAE Golden Visa process. Renowned for its expertise and dedication to client satisfaction, AMCA offers unparalleled support and guidance every step of the way. From initial consultation to documentation and beyond, AMCA offers comprehensive services and provides ongoing support for a seamless procedure

24 Jun 2024

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