Are you an investor considering Dubai, UAE, as your second home? If so, you’re in for a treat. You can be a proud holder of the “UAE Golden Visa,” which has attracted attention from renowned global figures like Giorgio Armani, Ragheb Alama, Nelly Karim, and a host of other top Celebrities, Scholars, Researchers, Scientists, investors, and other eligible individuals.
Since its launch in May 2021 by the UAE government, there have been some noteworthy updates to the eligibility criteria, streamlining the application process for the Dubai golden visa.
In this article, we will be looking at how foreign investors can get a golden visa in Dubai.
What is the Dubai Golden Visa?
The golden visa in Dubai is a long-term (5-10 years) residency permit granted to eligible foreign nationals to live, study, or work in the United Arab Emirates (UAE).
This special residency program in the UAE is granted to some categories of individuals, including Investors, Highly Skilled Professionals, War veterans, Scientists, Researchers, and Exceptional students.
To become eligible for the Golden Visa program, each category of applicants must fulfill specific criteria and requirements.
Benefits of Getting a Dubai Golden Visa for Investors
Though the benefits of obtaining a Dubai golden visa by a foreign investor are similar to those of other eligible categories, in this section of the article, we will focus on that of foreign investors.
So, if you’re an investor contemplating this opportunity, here’s what’s in store for you:
- Long-Term Residency Permit: You will get a long-term residency permit of 5-10 years in the UAE, which can be renewed.
- Multiple Enter: You can stay outside of the UAE for more than 6 months with unlimited re-entry into the country.
- Family Sponsorship: You can sponsor your immediate family ( Children, Spouse, Parents) in the UAE. In the unfortunate event of your passing, your family members can continue to reside in the UAE for the duration of their visa.
- Domestic Workers Sponsorship: The golden visa will allow you to sponsor an unlimited number of domestic workers.
How You Can Get a Golden Visa in Dubai as an Investor
As an investor, to be a holder of a golden visa in Dubai, you must meet certain demands by the UAE government. Let’s break this down into 3 different categories of investors.
1. Investing in the UAE Real Estate Sector:
- You must invest in a property in the UAE for a value not less than AED 2 Million ( Approx $544,500).
- The invested amount must not be from a loan for properties not exceeding AED 2 Million.
2. Investing in a Business in UAE:
- You must have a running business in UAE with a capital of at least AED2 Millions.
- You must submit a Memorandum of Association (MOA) stating an invested capital of at least AED2 Millions.
- Your business license in Dubai should be either a commercial or industrial license.
- You will need to provide a “To Whom It May Concern Certificate” should in case your company is a freezone company.
- You will need to provide a letter from the UAE tax authority stating that your business pays an annual tax of at least AED 250,000.
3. For Entrepreneurs of Startup Companies:
- You must own a project related to technical or future nature based on risk and innovation.
- Your project must be at a value above AED500,000, started by a credible auditor in UAE.
- An accredited business incubation center in the UAE must approve your project.
Requirements to Apply for a Golden Visa in Dubai
As a Real Estate Investor:
- A copy of your passport of at least 6 months
- Proof of ownership of property not less than AED 2 Million in the UAE
As an Investors:
- A copy of your passport of at least 6 months
- A copy of your company’s business license in UAE
- Last year’s financial report of your company
- A bank statement of at least 6 months of your company
- A registration document for the Federal Tax Authority
NB: The requirements and criteria for obtaining an investor golden visa in Dubai may vary due to amendments by the UAE government. We advise you to seek the assistance of an expert business consultant like Corporate Business Services (CBS).
How Can CBS Assist You?
Obtaining a Golden Visa in Dubai can be a life-changing opportunity for you, and it’s essential to have a reliable partner by your side. At Corporate Business Services “CBS,” we are dedicated to making your dream a reality by providing expert guidance and support throughout the process. Contact us today to begin your journey towards securing your Golden Visa in Dubai.