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UAE Golden Visa scheme updated

UAE Golden Visa scheme updated

New categories, benefits to come into effect in September

Significant amendments have been made to the Golden Visa scheme to simplify eligibility criteria and expand the categories. As a result, investors, scientists, outstanding academicians, frontline workers, and entrepreneurs are eligible for this long-term 10-year visa.

According to the amendments, Golden Visa holders can sponsor their family members, including children and spouses, regardless of their age, and sponsor support services (domestic help) without restrictions. In addition, the Golden Residency is not restricted in terms of the duration of stay outside the UAE.

The UAE provides benefits for family members, including the ability to remain in the country after the death of the primary holder of a UAE Golden Visa until the permit's expiration. As per the UAE Cabinet, the criteria for Golden Visa UAE eligibility have been expanded to include the following:

The UAE provides benefits for family members, including the ability to remain in the country after the death of the primary holder of a UAE Golden Visa until the permit's expiration. As per the UAE Cabinet, the criteria for Golden Visa UAE eligibility have been expanded to include the following:

Golden Visa for scientists

According to the Emirates Scientists Council recommendations, this residence is offered to scientists and researchers who have achieved high achievement and influence. Graduates from the top universities in engineering, technology, life sciences, and natural sciences should hold a Ph.D. or master's degree, and substantial research achievements should be available.

Golden Visa for professionals

A growing demand exists for highly trained professionals, including those with knowledge and expertise in various disciplines, including medicine, science and engineering, information technology, business and management, education, law, and culture.

A valid contract of employment in the UAE is required for applicants. Furthermore, as per the Ministry of Human Resources and Emiratization classification, they should be classified in the first or second level under ISCO by the International Labour Organization. In addition, they must have a monthly salary of Dhs30,000 or more and a minimum educational background.

Golden Visa for exceptional talents

Talented individuals in the required fields may be granted this visa. It is based solely on skill, regardless of an individual's educational background, employment status, monthly salary, or professional level.

It includes individuals with talent in culture, sport, design, digital technology, invention, and other vital fields and requires the recommendation or approval of a federal or local government entity.

Golden Visa for real estate investors

An investor can obtain a Golden Visa if they purchase a minimum of Dhs2 million worth of property.

As a result of the new amendments, investors can now purchase property loans from specific local banks to qualify for the Golden Visa. In addition, Golden Residency is also available to investors buying one or more off-plan properties from authorized local real estate companies for a minimum of Dhs2 million.

Golden Visa for entrepreneurs

Entrepreneurs are eligible for the Golden Visa if they meet flexible requirements set by executive regulations. As the minimum requirement, Start-ups in the SME category must be registered in the country and have annual revenue of at least Dhs1 million.

Furthermore, the start-up idea must be approved by an official business incubator, the Ministry of Economy or the relevant local authorities to qualify for a Golden Visa.

A person can also be eligible for the Golden Visa if they are a founder (or one of the founders) of an entrepreneurial project that sold for not less than Dhs7 million. In addition, the Ministry must approve any project or idea of the Economy or the relevant local authority.

Golden Visa for outstanding students and graduates

The visa is intended for high-achieving secondary school students and exceptional graduates from UAE universities and top 100 universities worldwide based on specific criteria, including academic performance, year of graduation, and university classification.

Golden Visa for Humanitarian Pioneers

A distinguished member of an international and regional organization, an outstanding member of an association of public benefit, recipients of recognized awards in humanitarian fields, or distinguished volunteers and sponsors of humanitarian efforts can apply for the newly amended golden visa.

Golden Visa for Frontline Workers

A Golden Visa may also be granted to frontline workers who have demonstrated extraordinary efforts in crises like the Covid-19 Pandemic.

21 Apr 2022

Akanksha Chandra

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