UAE Golden Visa Benefits You Need to Know

The UAE is one of the top destinations in the world. For this reason, many foreign investors, professionals, and entrepreneurs look for ways to establish themselves in the UAE. Therefore, the UAE Government has launched several initiatives to attract top talent and boost the economy. One of these initiatives is the UAE Golden Visa implemented in 2019. Its purpose is to offer long-term residence visas for individuals and retain talented people in the country. Individuals who meet the eligibility criteria can now apply easily by eliminating the restriction of needing a sponsor.

What is the UAE Golden Visa?

The Golden Visa is a legal document that grants long-term residency to foreigners. The UAE has several visa schemes so that individuals can apply for the most convenient.

However, the most interesting aspect of the UAE golden visa is that it offers residency for 5 to 10 years. This is highly appealing to foreigners who want to live in the UAE and don`t want to worry about renewals so often.

Eligibility Criteria for the UAE Golden Visa

UAE Golden Visa eligibility: The government outlined several conditions that have to be met to qualify for a golden visa. To apply for this Golden visa, you need to be from one of the following categories of residents:

• Scientists, Ph.D. holders, and data experts 
• Chief executives 
• Medical doctors 
• Outstanding students (their families can apply) 
• University graduates with a 3.8 GPA score or more 
• Investors 
• Real estate investors 
• Entrepreneurs 

New Changes to the UAE Golden Visa

Recently, the UAE Authorities added some categories to the Golden Visa to expand the eligibility:

• UAE-based physicians 
• Engineers: computer science, electricity, electronics, programming, and biotechnology 

The Top 20 Important Benefits of UAE Golden Visa

1. Long-Term Residency

Visa holders are the lucky ones to be able to stay up to 10 years in the UAE. They can now do such extended stays without fearing the problems arising from the visa's expiration. Such an approach eliminates the frequent visa extensions and, subsequently, people in the UAE will be able to plan their lives more confidently.

2. Family Sponsorship

Besides the fact that Golden Visa holders are allowed to bring their families, including children, they can facilitate their families' stay in the UAE. This is the union's strength, and the family's foundation and quality are formed as part of this process. Besides, relocating a whole family to the country has been well facilitated.

3. No Sponsor Requirement

Golden Visa is the only type of visa in the UAE that does not require a local sponsor or employer. This fact frees the visa holders to follow their vocations of interest and thus achieve an upper-hand position at work. They can work, invest, or open up a new business without the need for the presence of a specific employer or the thanking one for his/their sponsorship.

4. Property Ownership

The sky is the limit for Golden Visa holders who may invest in the UAE's property business. Thus, they give ownership where they have bought the property in the first place, not leased it. This feature, together with the creation of assets and the ability to build a dwelling house in a state, must be considered a contributor to financial stability over the long term.

5. Business Opportunities

Entrepreneurs and business operators of the Golden Visa program build it. Visa holders can start companies, and 100% own the businesses in the UAE. This is one of the main factors that attract the best professionals and investors to join the UAE, bringing about a chance for higher productivity and innovation in the company.

6. Education Benefits

Apart from children of Golden Visa holders who are privileged to have a good K12 education in the UAE, the visa ensures that their studies will not be affected by any changes in their travel status. The commitment to the overall family welfare and the moving forward of the academic levels of the next generation through this benefit are the signals of a good job done.

7. Healthcare Access

Golden Visa holders and their families can access the best healthcare system in the UAE. The availability of highly specialized healthcare and related services to visa holders is the gift of the benefit of having good health and even a genuine feeling of happiness during their visit to the country.

8. Travel Flexibility

Through the Golden Visa, foreigners can live outside their home country for extended periods. Thus, this flexibility factor is essential for those who must travel a lot for business or personal reasons as it lets them stay away for a more extended period while maintaining their residency status in the UAE.

9. Tax Benefits

The country has no income tax on personal income, and Golden Visa applicants can also sting back from this particularity. There is no income tax on individuals in the UAE, so people can enjoy salvaging a higher percentage of their incomes. The benefit is most convenient for wealthy individuals and professionals seeking the body to be nourished with the money.

10. Career Advancement

There is also the fact that the permanent Golden Visa offers the possibility to progress, draft, and get promotions, so the long-term availability of the Golden Visa serves as a request for career growth and professional development. Meanwhile, the visa holders are not limited to short-term pursuits; the stability may help with what needs to be completed in the career strategies they have mapped out in the ever-changing labor market in the country.

11. Networking Opportunities

The selected category of people (Golden Visa holders) becomes a community where they meet with other intelligent and financially capable persons. The first meeting with other persons of the same background as you, providing a sense of forming relationships through mutual interests amongst the members, is one of the most valued benefits. A company of people with the same mindset can be an opportunity for the development of fresh business ideas and personal development.

12. Cultural Experience

Golden Visa in the UAE is not only a visa but also an unparalleled cultural experience. This type of visa allows the holders to join in with the local Emiratis and live their lifestyle. The opportunity to get in contact with different cultures can show you different aspects of life and knowledge while also making you stand out in the global world. On a personal yet still related note, this can be a highly enriching experience, even from the career point of view, because diversity is a key factor in personal and corporate growth.

13. Investment Opportunities

The Golden Visa is considered the gateway to multiple investments in the UAE. Interested persons can invest in stock options and other financial instruments available. Using the diversification of the assets, including the stock market, this way, and because of the new sectors that are gaining ground in the country, financial growth is plausible in one of the most vibrant and dynamic economies in the world.

14. Retirement Planning

The Golden Visa already facilitates people interested in retiring in the UAE through the extended period of stay it provides. During the 10-year living arrangement, the individuals will manage to lay a foundation for their golden years of retirement. This benefit is one of those things that the seniors would look forward to for a high quality of life in their golden years.

15. Visa Renewal Simplicity

It is the simplest thing to do to extend/continue your Golden Visa, such as renewing the procedure. Golden Visa holders take advantage of this simplicity by spending less time and effort on visa extensions. The revamped process helps maintain residency through quick renewal and supports future planning and stability.

16. Global Mobility

Having a UAE Golden Visa makes you more capable of moving globally worldwide. Such plans are valid when they convey the traveler's ties to the UAE; thus, they will have a smoother travel process. This priceless asset is targeted at people who need international travel for business or sightseeing by offering more transport options.

17. Financial Services Access

The possession of a Golden Visa also decreases the paperwork needed to open financial accounts for expats, and financial institutions get more loyalty from wallet companies due to long-term visa holders. This will allow them to open a bank account, get a credit card, and access the credit facility. The stability of financial institutions establishes confidence among them, which results in more efficient and smooth financial transactions and services.

18. Real Estate Market Participation

The Golden Visa helps people plug into the UAE's real estate sector. They can also sell and buy land in their own right. The way has been paved for visa holders in the UAE to become part of the investment game and own/rent a house.

19. Social Security Benefits

In certain instances, the Golden Visa holders can also be eligible for particular social/security benefits in UAE, including access to pension schemes and other social welfare programs. These benefits, being an additional thing, can still provide the needed support and sense of security for the people who are allowed to stay long-term in the country.

20. Contribution to UAE's Vision

The Golden Visa holders play a cardinal role in realizing the UAE's ambition to evolve into a knowledge-based society. By furnishing their knowledge investment and helping with innovation, visa holders use their capacities to pursue the country's progress. At the same time, people attached to the higher national objectives will benefit from such a strategy because a country's big picture and development goals will engage them more.

In addition to all the standard benefits mentioned above and according to the Roads and Transport Authority (RTA) in the UAE, Golden Visa holders can now get a driving license in Dubai without the need for training if they already have a license issued by their home country.

The authority said Golden Visa Holders could skip training, but they will have to complete the knowledge and road tests.

Service fees for Golden Visa Holders

1. Dh100 for issuing a driving learning permit for the following categories: motorcycle - light vehicle - light automatic vehicle. 
2. Dh200 for opening a traffic file. 
3. Dh50 for the handbook manual. 
4. The electronic eye test at eye test centers: Dh140 minimum and Dh180 maximum. 

The driving license price for Golden Visa Holders

1. Dh100 for issuing a new driving license if the customer is younger than 21 years old. 
2. Dh300 for issuing a new driving license if the customer is 21 years old or above. 
3. Dh20 Knowledge and Innovation fees. 

Getting a driving license in UAE for Golden Visa Holders

UAE Golden Visa Holders, to get a new driving license, a citizen or a resident needs to apply to a registered driving institute in the related emirate to attend driving training classes and pass all tests (if required). After finishing all classes and passing all tests, the applicant can get a new driving license valid for 2 years for citizens, GCC nationals, and other nationalities. Applicants can start the whole process from the authorized driving institutes, which are available in Abu Dhabi, Dubai, Sharjah, Ras Al Khaimah, and Fujairah.

Individual customers, citizens, and residents, who are above the legal age and medically fit, are eligible to get a driving learning permit and apply for a new driving license. The minimum age requirement to obtain a driving license depends on the vehicle for which you are obtaining the license. The minimum age requirement is as follows:

• Seventeen years for motorcycles and vehicles for people with special needs. 
• Eighteen years for cars and light vehicles. 
• Twenty years for heavy vehicles and tractors. 
• 21 years for buses. 

Documents required for UAE Golden Visa Holders to open a traffic file include:  

1. Copy of passport and residence visa page.
2. Copy and original Emirates ID card.
3. 2 photographs.
4. Eye test report.
5. No objection letter from the sponsor (if required by the related traffic department).

Procedures to be followed by UAE Golden Visa Holders to learn car driving includes:

1. Opening a traffic file in one of the registered driving centers in the related emirate. 
2. Conducting an eye test at any center approved by the traffic department. 
3. Completing all required driving classes. 

1. Passing all tests set by the related traffic department. 
2. Obtaining a driving license from the traffic authority. 

UAE Golden Visa Renewal Process

UAE visa renewal is essential to maintain legal residency in the country. The process typically involves your sponsor submitting necessary documents, including passport copies, medical reports, and employment contracts, to the Federal Authority for Identity, Citizenship, Customs & Port Security (ICP). Renew your visa before it expires to avoid fines and potential legal issues. While the specific requirements may vary depending on your visa type and circumstances, timely renewal ensures an uninterrupted stay in the UAE.

What is the Golden Visa UAE price?

All Golden Visas, apart from the ones for Investors in property or the public sector, have the same price. It is 2,800 AED. This is a government processing fee.

When you apply for a Golden Visa UAE, the immigration authority checks your application in a few departments. It takes from 72 hours to 30 days. 

In the case where the immigration authority rejects your application, 60% (1,680 AED) will be refunded to you. 

On top of that, any applicant has to pay for a Medical check and Emirates ID. They will cost about 1,000 AED. 

Don`t forget UAE health insurance too. The price can be different depending on your health conditions and requirements. The minimum basic insurance can be done for about 800 AED. 

What are the UAE Golden Visa requirements?

The documents you need to submit depend on the category of applicant you belong to. Check the requirements for the most popular types of UAE Golden Visa below.

1. Investment into real estate:

• The gross value of the property should be not less than 5M AED. 
• The invested funds cannot be loaned. You should also maintain your property for not less than 3 years. 
• Meeting those conditions will enable you to apply for a 5-year UAE Golden Visa.

1. Investment into the public sector of the UAE:

• The amount of investments should not be less than 10M AED. 
• It can be invested in a UAE investment fund or real estate. However, your real estate investments cannot exceed 40% of the total. 
• You can also establish a company with a capital of not less than 10M AED or become a partner in a new or existing company. Your share value should also be not less than 10M AED. 
• Meeting any of those conditions will entitle you to a 10-year UAE Golden Visa.

Which requirements do real estate investors need?

The above are 2 major ways to get a UAE investor visa or a UAE entrepreneur visa, which depend on the areas of your investments.

What are the requirements of the UAE Golden Visa for Individuals with specialized talent?

Among the individuals listed with specialized talent are doctors, investors, artists, scientists, and researchers.

• They may receive a UAE long-term visa: a 10-year UAE Golden Visa once they get the accreditations from their respective fields. In addition, they may sponsor their spouses and children. 
• Doctors: doctors can obtain the UAE Golden Visa by applying online between July and September. If you`re a Dubai-licensed professional, you can also apply. 
• Coders: if you`re looking to know how to apply for the Golden Visa UAE for engineers, coders from all ages and nationalities can apply for the Golden Visa. They can do it through the Office of Artificial Intelligence in the UAE Government.

Regarding coders, those who can apply are distinguished experts and talents in the area of coding, individuals who have worked for pioneering technological firms, and graduates of computer sciences, hardware engineering, artificial intelligence, software engineering, data science, electrical engineering, and big data.

UAE Golden Visa Application Process

To obtain the UAE visa application, you must follow a straightforward process. It`s very easy, but you have to make sure to have your documents ready since you have to submit them too. In addition, even if you meet the eligibility criteria, you must comply with the requirements.

Here are the steps you must follow to apply for UAE Golden Visa:

• Visit the website: www.business.goldenvisa.ae 
• Apply for a nomination 
• The UAE Authorities have 30 days to review your application 
• You`ll receive an email with the outcome of your application 
• If your nomination gets approved, you`ll receive a link by email where you have to upload the documents 
• The Federal Authority for Identity and Citizenship will verify the application 
• The Authorities will issue the UAE Golden Visa

If you are looking for a Dubai apartment, villa in Dubai, or short-term rental properties in Dubai, or are just interested in knowing more about life in Dubai, make sure you contact Driven Properties and get all your questions covered.

UAE Golden Visa New Rules

The UAE has introduced significant changes to its Golden Visa program in 2024, aiming to attract top talent, investors, and entrepreneurs. Here`s a summary of the key new rules in 2024:

• Ten new entry visas: These visas eliminate the need for a sponsor or host, allowing for single or multiple entries with durations of up to 60 days. 
• Temporary work mission entry permit: This visa is for individuals coming to the UAE for temporary work assignments. It requires sponsorship from an employer or support from a resident or citizen. 
• UAE re-entry permit: Residency visa holders staying outside the UAE for more than six months can apply for this permit to avoid visa cancellation. 
• UAE entry permit extension: Entry permits can be extended for up to 90 days, depending on the reason for the visit. 
• Relaxed Property Investment Requirements: Investors can now qualify for the UAE real estate investment visa, which is the Golden Visa by owning a property worth AED 2 million or more, regardless of the down payment amount or property status (off-plan, completed, mortgaged, or not mortgaged). 
• Increased Salary Threshold for Professionals: The minimum salary requirement for professionals to qualify for a Golden Visa has been raised to AED 30,000 per month (excluding allowances). 
• Stricter Educational Qualifications: Professionals must now have their educational certificates legalized and recognized by the UAE Ministry of Education if obtained outside the UAE. 
• Focus on Emiratization: The UAE has expanded the scope of companies subject to Emiratization targets, requiring them to employ at least one Emirati employee in 2024.

FAQs

What are the benefits of a UAE Golden Visa?

The new framework of the UAE long-term visa, Golden Visa in UAE empowers foreigners to live, study, and work in Dubai without any need for national sponsors and with 100% accountability for business on the land of Dubai. These visas are issued for either 5 or 10 years and will be renewed automatically. Golden visa holders will be entitled to discounts and offers on cars, property, health care, hospitality, health insurance, and banking services.

How much is a Golden Visa price in UAE?

All golden visas, apart from the ones for Investors in property or the public sector, have the same cost. It is 2,800 AED. This is a government processing fee. 

Can you work on a Golden Visa in the UAE?

The golden visa grants qualifying residents and their family members the right to live, work, and study in the UAE.

Can Golden Visa holders sponsor families?

The Golden Visa can be extended to include the sponsorship of spouses, children, parents, and dependent siblings, depending on the visa category.

Who qualifies for a UAE Golden Visa?

• Business owner 
• CEO or Managing director of a business 
• Highly educated individual (Ph.D. holder) 
• Representative of certain professions: Doctor, Engineer, Athlete 
• Student 
• Investor

How can I get UAE citizenship with the help of a Golden Visa?

You can acquire the UAE`s citizenship only through the Rulers` and Crown Princes` Courts, Offices of the Executive Councils, and the Cabinet based on the nominations of federal entities. Contact the Federal Authority for Identity and Citizenship for more information.

What is the UAE Golden Visa program?

In 2019, the UAE implemented a new system for long-term residence visas. The new system enables foreigners to live, work, and study in the UAE without the need for a national sponsor and with 100% ownership of their business on the UAE`s mainland.

Can I live in Dubai permanently?

You may obtain a standard resident visa in the UAE. If you buy a property in Duba or any other Emirate worth at least one million Dirhams, you can obtain a UAE residence visa valid for two years.

What is the GPA for the UAE Golden Visa?

There is no set GPA for the UAE Golden Visa program. Each application is evaluated on a case-by-case basis, and the visa is granted based on a variety of criteria, including financial stability, educational qualifications, and professional experience.

Can I buy a UAE Golden Visa?

Yes, you can buy a UAE Golden Visa. The UAE has a specialized residency program that allows investors to obtain a visa in exchange for a real estate investment. The program is open to foreign investors, and you can apply for a visa through the UAE government website. For more information, please visit the UAE Ministry of Interior website.

Who is eligible for a UAE Golden Visa?

The UAE Golden Visa is available to foreign investors, entrepreneurs, and talented individuals who meet certain criteria. Eligibility criteria include investing a minimum of AED 10 million in a business 

purchasing a property worth AED 5 million or more, or obtaining a valid employment contract with a fixed salary of AED 12,000 or more. Additionally, a UAE Golden Visa allows family members of the holder to be eligible for residence in the UAE.

How much is the 10-year Golden Visa fee?

UAE visa cost: for applicants currently in the UAE, the Golden Visa will cost between AED 2,800 and AED 3,800. For applicants outside of the UAE, the Golden Visa will cost between AED 3,800 and AED 4,800.

What are the disadvantages of a Golden Visa in UAE?

One disadvantage of the Golden Visa is that this residency route does not lead to citizenship. You can renew the visa several times and try to apply for citizenship in 30 years. But there are no guarantees. If you want to get a second passport, ROC Citizenship offers several European investment programs.

Is Golden Visa permanent?

No, a Golden Visa is not permanent. It is a residence permit that allows individuals to reside in the country for a specific period (usually 5 or 10 years) and is renewable depending on the individual`s circumstances.