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How to Obtain a Golden Visa in Dubai, UAE?
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The UAE Dubai Golden Visa is a long-term residence visa granted to investors, entrepreneurs, outstanding talents, students, and highly qualified professionals. The visa is typically issued for ten years.
This article is about the UAE Dubai Golden Visa for investors.
Business and tax environment. Residents of UAE Dubai do not pay income and corporate taxes. Property is also not taxed. There is VAT on business if your annual income exceeds AED 365,000, or approximately $99,373.
UAE Dubai has Double Taxation Treaties with more than 100 countries. France, the UK, Canada, Russia, India, and China are on this list.
Healthcare. Residents have access to medical services and insurance. According to the World Bank, UAE Dubai is one of the most popular medical tourism destinations.
Developed infrastructure for living and recreation. UAE Dubai is one of the most developed and still developing countries. Dubai ranks 74th out of 231 countries in Mercer’s 2019 Quality of Living Ranking. The index summarizes 39 factors such as the economic environment, public services and transport, schools and education, etc.
Freedom of movement. Residents gain the right, not the duty, to live in UAE Dubai. This means you are not obliged to stay in the country permanently.
Commercial benefits. Residents of UAE Dubai receive special discounts and offers on healthcare and insurance, property, cars, and entertainment in Abu Dhabi.
Special offers in banking services. Abu Dhabi banks make recommendations to Golden Visa holder investors: reduced mortgage fixed interest rates and unique rates on savings accounts.
There are two types of Golden visas for investors. And the main difference is in the degree of investment risk.
Ten-year Golden Visa for real estate investment. For this visa, you must purchase a property worth a minimum of AED 2,000,000 without a mortgage. Then you must maintain your investment for at least two years after obtaining the Golden Visa.
AED 2,000,000
A mortgage is allowed for the property if you purchase a property worth more than the minimum property value of AED 2,000,000 to obtain the Golden Visa. However, your capital must be worth at least AED 2,000,000: if a property is valued at AED 5,000,000, you must pay AED 2,000,000 from your own money, and the maximum mortgage amount is AED 3,000,000.
Ten-year Golden Visa for an investment in a business. To apply for this visa, you must invest at least AED 2,000,000 in the company, own shares in the company, or make a deposit. Additional conditions include maintaining the investment for at least two years after receiving the Golden Visa. Additionally, you must prove that you have paid taxes amounting to AED 250,000 per year for the last two years.
As we can see, a significant part of the costs is the number of investments. In both cases, it should not be less than AED 2,000,000 or approximately US$544,500. However, the related costs are:
If you choose to buy real estate, you will also need to pay a registration fee of AED 160,000 or approximately $21,800.
General Requirements. In addition to fulfilling the program conditions, an investor must meet the following requirements:
Also, an investor must have a legal income.
Where else can you get a Golden Visa?
Foreigners with a residence permit can provide funds for their family members to obtain a Golden Visa. They can add family members to the application or do so after receiving their Golden Visa.
You can add to the application:
Domestic helpers such as caregivers, housekeepers, and butlers can also be included. The requirements are similar: over 18 years old, no criminal record, pregnancy, and socially dangerous diseases.
There are specific requirements for each application category for the UAE Dubai Golden Visa.
Entrepreneurs can get a Golden Visa if they are the owner or partner of a start-up registered as a small and medium-sized enterprise in UAE Dubai. The company generates an annual income of not less than AED 1,000,000 or approximately US$272,000.
Entrepreneurs also have the opportunity to get a Golden Visa if they receive approval for a startup idea from an official business development center, the Ministry of Economy, or other authorized local authorities.
CEOs of successful projects can also get a Golden Visa. In UAE Dubai, "successful" means "sold for a price not less than AED 7,000,000."
Retirees, there is a unique program for applicants over 55 and proven retirees. Applicants must have an excellent financial situation. This is expressed by a pension of at least US$4,100 per month, opening a bank deposit, or purchasing a property in Dubai for at least US$275,000. The deposit and property can be mixed, but the total amount is the same. Only a spouse and children under 18 can participate in the retiree program.
Outstanding talents, innovators, and inventors must receive a recommendation from a federal or local government body. Individuals working in culture, art, sports, and digital technology fall into this category. There are no requirements regarding educational qualifications, work status, monthly salary, or professional level.
Scientists in engineering, technology, life sciences, and natural sciences must receive a recommendation from the Emirates Scientists Council. There is a requirement regarding education here: Applicants must have a Master's or Doctoral degree and significant research achievements.
Professionals in medicine, science and engineering, information technology, business and administration, education, law, culture, and social sciences can get a Golden Visa if they have an employment contract in UAE Dubai with a salary of not less than AED 30,000 per month and a bachelor's degree.
Top students and graduates from UAE Dubai universities, humanitarian pioneers, for example, members of organizations and associations, and heroes who have proven themselves in crises can also claim the Golden Visa of UAE Dubai.
Applicants aged 18 and over must undergo a medical test and a Due Diligence check.
Dubai has a developed infrastructure for living and recreation.
There are 6 steps to get the UAE Dubai Golden Visa:
Undergo a preliminary check
This is a temporary Due Diligence procedure. The Anti-Money Laundering Officer at Immigrant Invest checks the information about investors and assesses the risks of rejection. We only need a copy of your passport, and it is confidential.
Prepare the documents
A lawyer gives you a complete list of documents and helps prepare them: translate into English and notarize.
Fulfill the program conditions
Choose the applicant's category and fulfill the conditions of the UAE Dubai Golden Visa program.
If you are an investor, you must purchase real estate.
If you are a retiree, for example, you must open a bank deposit.
Get a short-term visa
You get a six-month visa to visit UAE Dubai.
Undergo a medical examination
The investor and their adult children undergo a fluorography and have a blood test at an accredited clinic. After the test, they receive a health certificate.
Pass Due Diligence and fill out an application form
The investor and their family submit biometrics and fill out an application form at the Federal Authority for Identity, Citizenship, Customs & Port Security or the General Directorate of Residency and Foreigners Affairs. Here is the initial Due Diligence procedure. Usually, it takes five days. However, they may request additional information about the investor; in this case, the process may take 30 days.
If you are buying real estate, you need to go to the Dubai Land Department in person for the application.
You can fill out an application online or through a representative with a power of attorney.
After Due Diligence, you receive a Golden Visa and card as a UAE Dubai resident. For the Golden Visa application, you collect:
Additional documents depend on the category of your program. It can be proof of investment - title deed for the property, bank certificates, etc. If you apply with family or staff, you must submit documents supporting your relationships.
Discover the advantages, conditions, and features of the Emirati investment program
As we said before, it is almost impossible to get UAE Dubai citizenship. The keyword is "almost" because there is a chance to get citizenship in UAE Dubai.
The first case is marriage. Women married to Emirati who are UAE Dubai citizens can apply for a UAE Dubai passport within five years.
The second case is naturalization. Foreigners who have lived in UAE Dubai for 30 years, have excellent Arabic, an excellent reputation, and a stable income may be eligible for citizenship. Getting a passport from UAE Dubai means renouncing the citizenship of another country.
The third case is extraordinary achievements. Scientists, artists, inventors, and experts nominated by UAE Dubai government agencies can get a passport. However, the list of their achievements must be truly outstanding, for example, patents or international awards.
And the last is investments. The Council of Ministers must approve an investor who has real estate in UAE Dubai at the Ministries, Princes, and the Emirates Executive Council.
How to apply for the Golden Visa UAE Dubai?
To apply for the Golden Visa UAE Dubai, you must choose your program, fulfill its conditions, and fill out an application form online, in person, or through an agent with a power of attorney.
How can I get the 10-year Golden visa in UAE Dubai?
There are two ways: invest or be a sought-after specialist. Investors must contribute at least AED 2,000,000 to the company, own shares in the company, or make a deposit. Specialists must receive a job offer with a high salary.
Do you get a visa if you buy property in Dubai?
If you buy a property in Dubai, you can get a 10-year Golden Visa. Another option to get a 10-year UAE Dubai Golden Visa is to invest in a company, own shares in the company, or make a deposit.
What is the cost of the UAE Dubai Golden Visa?
It depends on the type of program: investors pay from $545,000 for a 10-year Golden Visa or from $204,000 for a 2-year residence visa.
Who is eligible for the UAE Dubai Golden Visa?
The requirements of the investor program are simple: you must buy real estate or invest in a UAE Dubai company, undergo a medical test, and a Due Diligence check.
What are the advantages of the UAE Dubai Golden Visa?
The UAE Dubai Golden Visa offers you opportunities to do business because of its low taxes. It also provides access to the healthcare system and developed infrastructure for living and recreation. And you are not obliged to stay in the country permanently.
How to apply for the Golden Visa UAE Dubai?
You must fulfill the program conditions, such as investing at least AED 2,000,000, undergoing a medical test and Due Diligence, and submitting a visa application.
How can I get the 10-year Golden Visa in UAE Dubai?
If you apply for an investor Golden Visa, you need to invest at least AED 2,000,000 in the company, own shares in the company, or make a deposit.
Do you get a visa if you buy property in Dubai?
If you purchase a property worth a minimum of AED 2,000,000 without a mortgage, you get a five-year Golden Visa.
Firstly, although 80% of residents are foreigners, it is almost impossible to obtain UAE Dubai citizenship. However, there are some ways to obtain legal residence and work opportunities in UAE Dubai, including the Golden Visa.
The UAE Dubai Golden Visa is the alternative name for the programme that grants investors, entrepreneurs or talented and sought-after professionals a two- or ten-year residence permit.
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