The United Arab Emirates (UAE) has been a prominent destination for those searching for fresh prospects, and its Golden Visa initiative has become a vital pathway towards permanent residency. Since its launch in 2019, the Golden Visa program has seen an incredible spike in issuance, with a 52% increase in just the first half of 2023.
This highly sought-after 10-year visa embodies the UAE’s dedication to drawing in a diversified talent pool by extending its advantages to professionals, entrepreneurs, investors, and students. Professionals with a monthly salary of Dh30,000 or more in some industries are eligible, while individuals without job criteria have other options. Here, we explore five options beyond employment restrictions and provide a thorough how-to for obtaining a ten-year resident permit in the United Arab Emirates.
1. Purchasing Real Estate: A House You Can Call Your Own
Investing in Dubai real estate is one of the easiest ways to obtain a Golden Visa. International investors and UAE citizens may take advantage of this by purchasing one or more Dubai properties totaling more than Dh2 million. This broadens the qualifying requirements by including both existing and off-plan homes. Significantly, a historic ruling in Dubai eliminated the need for a Dh1 million down payment, providing more opportunities for prospective homeowners. However, the entire Dubai property value remains an essential consideration, highlighting the UAE’s dedication to drawing significant investments.
2. Cash Deposit: Riches Creating Opportunities
Rich people who do not necessarily want to buy Dubai real estate but have the money might apply for the Golden Visa with a sizable cash payment. To be eligible for this distinguished residence, one must deposit Dh2 million with a local bank and keep it there for two years. Local banks encourage people to sign up for this program and facilitate the procedure for those ready to deposit money per their financial goals.
3. Innovating To Foster Entrepreneurship For Residency
The Golden Visa offers a friendly route for entrepreneurs, who are the engine of economic expansion and innovation. Due to the executive laws’ flexibility, entrepreneurs who co-own or operate a startup registered under the small and medium enterprise (SME) category may be eligible.
● The startup’s yearly income should be at least Dh1 million, in line with the UAE’s priority on supporting prosperous economic endeavors.
● The Golden Residence is also available to the creators of prior business ventures that brought in a total worth of Dh7 million or more, pending clearance from the Ministry of Economy or appropriate municipal authorities.
4. Researchers & Scientists: Honoring Excellence In Knowledge
The Golden Visa is awarded to scientists and researchers who have made outstanding contributions to their disciplines and significantly impacted society in an era where knowledge advances societies. The Emirates Scientists Council’s recommendations are the key to granting this residence.
5. Excellent Learners: Moulding The Next Generation Of Leaders
Understanding the value of education, the United Arab Emirates (UAE) grants the Golden Visa to exceptional secondary school students and graduates from UAE institutions and the top 100 universities globally. Certain factors establish eligibility, including academic standing, graduation year, and university classification. This all-encompassing strategy seeks to draw and keep young talent, guaranteeing a secure and long-term residence in the UAE for future leaders across various areas.
The United Arab Emirates’ dedication to promoting diversity, creativity, and economic expansion is evidenced by the Golden Visa program. Although specialists in particular professions can get residence through work, the paths described here provide an alternative and easily accessible route for individuals who are not employed. The effectiveness of a program that defies convention and embraces a diverse range of abilities and contributions to the wealth of the country is demonstrated by the growing number of Golden Visas that are being granted.