Amendments to UAE Golden Visa

Launched about two years ago, the UAE Golden Visa Program became an instant hit, especially among Indians  & other expats looking to establish a base in Dubai. And now the new changes make it even more exciting and promise to empower more people to achieve their dreams of quality of life in Dubai.

The United Arab Emirates has adopted new implementing regulations under  the Federal Law on the Entry and Residence of Foreigners. The updated Entry and Residence Rules announced by the Emirates Cabinet offer 10 types of entry visas with simplified requirements.

These rules aim to retain and attract global talent, increase competitiveness and flexibility in the labor market, and promote a sense of stability among the country’s residents.

UAE Golden Visa Benefits :

Some of the advantages of the UAE Golden Visa are as follows:

  • Entry visa for six months with multiple entries with subsequent issuance of residence permit.
  • Renewable long term residence visa valid for 10 years.
  • Self-funded visa.
  • Possibility to stay outside the UAE as long as you like without having your visa cancelled.
  • Sponsorship of family members, including spouse and children, regardless of their age.
  • Sponsor for an unlimited number of domestic helpers.
  • Allow family members to stay in the UAE until the end of their residence permit if the primary Gold Visa holder dies.

Who are eligible for Golden Visa Dubai?

While there are many changes in the different categories, here we focus on the changes that affect investors, entrepreneurs, and professionals.

Gold Visa for Investors – The first major change is the reduction in the amount of real estate investment – ​​the investment amount has been reduced from AED 5 million to AED 2 million.

Another big change is that investors no longer have to visit the country every six months. This clause has the potential to be a game changer, especially for real estate investors. This will help them to get the UAE citizenship by investment.

So now if you buy a property in the UAE worth AED 2 million or more, you can get a 10-year residence visa for you and your family. It is worth mentioning here that in the event of the death of the original gold visa holder, the family members can remain in the UAE until the end of the validity period of their golden visa.

Golden Visa for Entrepreneurs – Novice investors can now get a golden visa Dubai provided their company is registered in the UAE and must fall into the Small and Medium Enterprises (SME) category.

In addition, Golden Residency for Entrepreneurs can also be obtained if:

  • The person is the founder or co-founder of a previous entrepreneurial project that has been sold for a total value of at least AED 7 million.
  • Projects or ideas require approval from the Ministry of Economy or the relevant local authority.

Golden Visa for Executive directors – This service provides talented and specialist researchers in various fields of science and knowledge (Golden Residence Visa) for a period of (10) years without sponsorship and can be extended (given to the applicant and his family members).

The UAE golden visa requirements for Managing Director are:

  1. Submission of a photocopy of a higher education diploma accredited by the Ministry of Education and Culture with an education degree not lower than a bachelor’s degree.
  2. Provide a letter of experience of at least (5) years in the same position.
  3. Submission of salary certificate showing minimum salary of AED 50,000.
  4. Submission of a valid employment contract.

Golden Visa for Retired Foreigners – This service provides a Golden Residency Visa to foreign retirees for a period of 5 years without a sponsor and can be extended.

General terms and conditions are as follows –

1- The working period before retirement must not be less than 15 years, both domestically and abroad, or have reached the age of 55 years.

2- In order to become the owner of one or more properties in the country, the property value or the total value of the property must be at least one million AED, either the purchase price or the market value, provided that the appraisal is carried out by the competent authority of the emirate concerned.

3- Or that he has a cash deposit of at least AED 1 million in the UAE.

4- The pensioner’s annual fixed income should not be less than AED 180,000 provided that the bank statements for the last six months are presented.

5- Requirements for issuing Golden Visas to family members of foreign retirees: Family members of foreign retirees (husband or wife and children from the category of unmarried daughter and unmarried son) specified in the Cabinet Decree are granted a golden visa for a certain period of time 5 years.

Golden Visa for Outstanding Students – This residence permit is intended for outstanding students in UAE secondary schools and outstanding graduates from UAE universities and the top 100 universities in the world based on criteria such as academic merit, senior year, and university ranking.

How can Elevate First Accounting and Auditing help with Golden visa Dubai?

Would you like to learn more about the UAE visa application process? Elevate First Accounting and Auditing will help you to stay informed about the latest news about UAE visas and the correct application procedure. You can contact our specialists and get the guidance and advice you need to get the UAE visa you want while meeting the requirements. Our team will make sure that the entire golden visa UAE cost makes your efforts worth it.

As there are changes keep on coming  to the UAE Golden Visa, companies should be aware of and take the benefit of Golden Visa. We make sure that the company is well served for their Golden Visa Requirements. Elevate First Accounting and Auditing supports companies operating here with smooth documentation and application for Golden Visa Dubai.

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