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Key Things to Know About the UAE Golden Visa
The United Arab Emirates (UAE) has been a preferred destination for businesses, investors, and individuals seeking to expand their horizons and explore new opportunities. With a favourable business climate, world-class infrastructure, and a strategic location that bridges Europe, Asia, and Africa, it’s no surprise that the UAE has become a hub for international trade and investment.
In recent years, the UAE government has introduced several initiatives aimed at attracting more foreign investors, including the Golden Visa program. In this blog post, we’ll explore the key things you need to know about the UAE Golden Visa and how it can benefit you as an entrepreneur.
What is a UAE Golden Visa?
The UAE Golden Visa is a long-term residency visa that allows holders to stay in the UAE for up to 10 years. It was first introduced in 2019 to attract and retain high-net-worth individuals, investors, and entrepreneurs who contribute to the UAE’s economy.
Initially, the Golden Visa was only available to investors, entrepreneurs, and talented individuals in specific fields, such as science, engineering, and art. However, in 2020, the UAE government expanded the eligibility criteria to include all investors and entrepreneurs who meet the specified requirements.
Who is eligible for a UAE Golden Visa?
The eligibility criteria for a UAE Golden Visa vary depending on the category you fall under. Generally, to be eligible for a Golden Visa, you must meet the following requirements:
1. Investors
- Invest a minimum of AED 10 million in the UAE
- Have a public investment portfolio of not less than AED 10 million
- Have a partnership in a company with a capital of not less than AED 10 million
- Have a deposit in an investment fund in the UAE of not less than AED 10 million
- Have a real estate investment of not less than AED 10 million
2. Entrepreneurs
- Establish a new project in the UAE with a minimum capital of AED 500,000
- Have the approval of a business incubator in the UAE
- Have a previous project with a minimum value of AED 500,000
- Have the approval of the UAE government for a special innovative project
- Have a patent approved by the UAE Ministry of Economy
3. Professionals in specific fields
- Scientists and researchers
- Doctors and medical professionals
- Engineers
- Artists
- Authors, writers, and intellectuals
What are the benefits of a UAE Golden Visa?
As a Golden Visa holder, you can enjoy several benefits, including:
1. Long-term residency in the UAE
The Golden Visa allows you to stay in the UAE for up to 10 years without the need to renew your visa. This gives you the peace of mind and stability to focus on your business or investment ventures.
2. Freedom to work and live in the UAE
With the Golden Visa, you can work and live in the UAE without the need for a local sponsor or employer. This means you have more flexibility and control over your career and personal life.
3. Access to world-class education and healthcare
The UAE is known for its excellent education and healthcare systems. As a Golden Visa holder, you and your family can access these services, which can be especially beneficial if you have children or elderly relatives.
4. Opportunities to invest and expand your business
The UAE is a vibrant business hub with numerous opportunities for investment and growth. As a Golden Visa holder, you can leverage your long-term residency to explore new business ventures, expand your existing business, or invest in other projects.
As we have seen, the Golden Visa offers a range of benefits, including long-term residency, freedom to work and live in the UAE, access to world-class education and healthcare, and opportunities to invest and expand your business. However, the eligibility criteria can be complex, and the application process can be time-consuming and challenging.
That’s where our consultancy firm comes in. We specialise in providing expert advice and guidance to entrepreneurs and businesses looking to establish and grow their presence in the UAE. Our team of experienced consultants can help you navigate the Golden Visa application process, ensuring that you meet the eligibility criteria and submit a strong application that maximises your chances of success.
In addition to the Golden Visa, we can also help you with all aspects of setting up and running a business in the UAE, including company registration, local sponsorship, visa processing, accounting and taxation, and more. Our goal is to provide you with comprehensive support and guidance, helping you to succeed in the UAE’s dynamic and fast-paced business environment.
In conclusion, the UAE Golden Visa is an excellent opportunity for entrepreneurs and investors looking to establish a long-term presence in the UAE. At our consultancy firm, we are committed to providing you with expert advice and support, helping you to navigate the Golden Visa application process and achieve your business goals.
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