ALBAWABA – With UAE becoming a global hub for talented individuals and those seeking a brighter career feature, demand for the Emirates’ Golden Visa has gone up 52% in the first half of 2023, according to the General Directorate of Residency and Foreign Affairs, while many are able to successfully apply with an employment in the UAE, the government allows different types of model residents to apply without having a job in the country.
The Golden visa is a long-term residency permit for up to 10 years, that is offered to international individuals who wish to live, work, or study in the United Arab Emirates, with exceptional incentives as not needed a national sponsor or renewal every couple of years, as well as the ability to sponsor family members with children’s maximum age upped from 18 to 25.
UAE Entry Stamp on a Passport (Shutterstock)
While the Golden Visa has been strictly limited to high-tier exceptional workers and investors, with a hefty down-payment requirement; these laws have recently been made easier with no required down-payment, here are 5 categories that are eligible for UAE Golden Visa:
Entrepreneurs
Owners of a risk-taking, innovative, and technological economic enterprise are allowed to apply for a 5 year long Golden Visa, entrepreneurs need to obtain an authorization letter from a UAE auditor certifying that the project is worth at least 500,000 dirhams, the Emirate’s authorities declaring that the idea is technological or future-oriented, and be approved by a recognized business incubator in the UAE to launch the intended operation there.
Outstanding specialized talents
Individuals with exceptional specialized skills, like engineers, doctors, scientists and creatives can apply for a 10 year long Golden Visa after fulfilling the necessary requirements for their field, such as an Approval Letter from related government officials to practice their profession and a copy of their degree.
Outstanding Students
University students from class A or B universities with a cumulative GPA of 3.5 and 3.8 for each class respectively are eligible to apply for 10 years long visa while Highschool students with a grade of 95 percent or higher in public or private schools can apply for a 5 year visa that is extendable if they apply to a major in one of the countries universities that requires more than five years of study.
Public or Real-Estate Investors
Those with public investments can provide a valid commercial or industrial license and proof of a capital above AED 2 million, or an annual AED 250 thousand payment to the government are eligible for 10 years visa, while investors that own a real-estate or a group of properties that are valued at AED 2 million, paid fully or through a local bank loan, can apply for a 5 year long visa.
