The United Arab Emirates (UAE) has recently disclosed intricate information regarding its esteemed Golden Visa program, extending residency privileges to investors, entrepreneurs, scientists, and exceptional students. 

This program, designed to attract and retain global talent, delineates specific criteria based on the nature of residence sought, catering to investors in public investments, real estate enthusiasts, and entrepreneurs with innovative projects.

Program Overview

The Golden Visa program, unveiled by UAE authorities, is a gateway for individuals with diverse expertise and contributions to obtain residency. This initiative spans various categories, including investors in public investments, real estate investors, and entrepreneurs with futuristic projects.

Investor in Public Investments

Aspiring individuals interested in investing in an UAE investment fund can secure the Golden Visa for a decade without a sponsor, contingent on fulfilling specific conditions:

• Submission of a confirmation letter from a UAE investment fund, validating a deposit of AED two million.
• Provision of a valid commercial or industrial license, along with a memorandum of association, ensuring the applicant's capital is no less than AED two million.
• Submission of a letter from the Federal Tax Authority, evidencing an annual payment of AED 250,000 or more to the government.

Investors in Real Estate

Foreigners seeking to benefit from the Golden Visa Program in the real estate category can enjoy a five-year visa without a sponsor, provided they meet the following requirements:

• Submission of a letter affirming ownership of properties valued at AED two million or more or acquiring a property through a loan from a specified local bank approved by the relevant local authority.

Entrepreneurs

The Residency by Investment scheme accommodates entrepreneurs for a five-year Golden Visa, provided they possess an economic project of a technical or futuristic nature with an emphasis on risk and innovation. The prerequisites include:

• Approval letter from a UAE auditor, confirming the project's value of 500,000 dirhams or more.
• Correspondence from UAE authorities highlighting the technical or futuristic nature of the project.
• A letter from an accredited business incubator in the UAE, affirming the launch of the proposed activity in the state.

Facilitating the Application Process

To streamline and simplify the application procedure for the Golden Visa Program, the UAE launched the "One Touch" platform in April. This platform aims to expedite and ease the application process for prospective candidates.

The UAE Federal Authority for Identity, Nationality, Customs, and Port Security (ICP) confirmed this decision, highlighting the program's goal of attracting and retaining a diverse pool of wealthy individuals and skilled professionals.

The Golden Visa Program stands as an opportunity for foreigners to secure residency in the UAE, provided they meet the specified criteria and contribute to the nation's continued growth and development.

FAQ

What is the UAE's Golden Visa program?
The UAE's Golden Visa program offers extended residency to investors, entrepreneurs, scientists, and exceptional students, aiming to attract skilled individuals who can contribute to the country's growth.

Who is eligible for the Golden Visa?
Eligibility is based on various criteria:

• Investors in public funds with a minimum deposit of AED two million.
• Real estate investors owning property worth AED 2 million or more.
• Entrepreneurs with innovative projects valued at AED 500,000 or more.

What are the tenure options for the Golden Visa?

• Investors in public funds can receive a ten-year residency.
• Real estate investors and entrepreneurs are eligible for a five-year residency.

What documents are required for application?
Each category has specific documentation:

• Investors in public funds need a confirmation letter, commercial/industrial license, and tax payment proof.
• Real estate investors must confirm property ownership or purchase through an approved local bank.
• Entrepreneurs require an auditor's letter, project confirmation, and endorsement from a UAE business incubator.

How does the "One Touch" platform streamline the application process?
Launched in April, the "One Touch" platform simplifies and accelerates the Golden Visa application process, making it more efficient and user-friendly for applicants.

What's the purpose of the Golden Visa program?
The program aims to attract wealthy individuals, professionals, and innovators to the UAE, fostering economic growth and development while providing an opportunity for long-term residency.