UAE Golden Visa

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Apply for UAE Golden Visa & How Elevate Can Help

 

Cabinet Resolution No. (8) of 2021 regarding the regulation of Golden Visa, UAE introduced a new system for long-term residence visa called Golden Visa. The new visa classification enables foreigners to live, work and study in the UAE without the need of a national sponsor and with 100 per cent ownership of their business on the UAE’s mainland. These visas will be issued for 5 or 10 years and will be renewed automatically.

This Golden Visa is definitely motivating for investors to start any new business in UAE and they can stay in UAE for long period unlike before. Even for Existing Real Estate Investors, Business Man, Top Executives are going to be benefited out of this Golden Visa.

Who Can Apply For Golden Visa in UAE

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There are some specific requirements that are required by the government of the UAE for all applicants who want to apply for this UAE Golden Visa and it is different for each category.

For Entrepreneurs

  1. This category includes those having an existing project with a minimum capital of AED 500,000, or those who have the approval of an accredited business incubator in the country.
  2. A multi-entry visa, renewable for another six months is allowed to the entrepreneurs who are not having any existing UAE Visa.
  3. The long-term UAE Golden visa includes the family of the entrepreneur, a business partner, and three executives.
  4. The entrepreneur must have health insurance documents for all his/her family members.

Requirements for Foreign Investors

  1. The investor must have at least AED 07 million worth of public investment, either in the form of a company or an investment fund or
  2. Minimum 60% of the total investment should not be in the form of any property or land.
  3. The Investor’s Investment should not be from a Loan amount. As an asset the invested amount gives full right and credit to the investor. Relevant proof of investment is required. i.e. Title Deed in case of real Estate.
  4. The investor should stay invested for at least 3 years.
  5. The Investor should have a Health Insurance cover.
  6. Investor can extend the Golden Visa to include any business partners. Each partner must contribute up to 07 million AED. The long-term visa can also include the holder’s family, one executive director, and one advisor.

Requirements for Chief Executives

  1. Must be a Bachelor Degree holder
  2. Should have 5 years work experience
  3. Salary Should be 30,000 or more in UAE.
  4. The applicant and his Family must have Health Insurance.

Requirements for Students and Specialists

  1. The Applicant can be an educator from any one of the top 500 international universities. They must be approved by the ministry of education.
  2. The Applicant with an award or appreciation certificate in their area of expertise can also apply.
  3. Scientists who have made significant contributions to an area of study are also eligible to apply for UAE or Dubai Golden Visa.
  4. If the applicant has 20 years of practical experience in their field of medical expertise, he/she can apply for a Golden visa UAE for doctors.
  5. High school students with top ranks in the country with a minimum of 95 percent and university students with outstanding academic performance plus remarkable grades on graduating (GPA 3.75 or higher) are eligible for Golden Visa Dubai or UAE.

To apply for the Golden Visa, Investor in commercial sector needs an Audit report from the Company Auditor and the Audit Report should be submitted along with the required documents to the authority.

To apply for the golden visa, an Investor in the commercial sector needs an Audit report from the Company Auditor and the audit report should be submitted along with the required documents to the authority.

The required documents are:

  • The audit report of the last financial year
  • A copy of company’s trade license and Partners list
  • Last 3 month’s Company’s account statement
  • VAT returns submitted to FTA
  • If the license is in free zones or special development zones, A Certificate from the relevant free zone authorities is an additional requirement
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Audit report helps the authority to acquire extra information about the operational and financial position of the company. By verifying the audit report the authority checks the eligibility of Investor to get the Golden visa.

As the audit report is issued by audit firms which are external parties, the credibility of the report increases and the audit report gives assurance on the financial position of your company.

Audit report assures that the figures reported in financial statements are correct. The Audit report is an independent opinion by the external auditor. Company with the clean audit report assures that the company complies with the required laws and regulations and its financial position is true and fair.

The auditor verifies the books of accounts and records of the company to detect the misrepresentations or frauds. The auditor completes his task by giving an opinion on the true and fair view of the financial statements of the company.

The financial statement on which the auditor has given the opinion shows the details like the total investment by the investor in the company, current liabilities, current assets, total equity of the company etc.

This report helps the users of the financial statements to get assured of the truth and fairness of the financial statement. Hence it helps the Authority as a user to assess the financial position of the investors to process the visa request.

We Elevate as an external auditor can help you to get your company’s financial statements audited.

We can also do a preliminary check on your financial position to assess your eligibility for Golden Visa.

We support and guide you to meet the requirements to get or to be eligible for the golden visa.