Back in 2019, the UAE launched a permanent residency scheme that allows foreigners to reside, work, and study in the country. It doesn’t require the applicants to have a national sponsor and gives them full ownership of their businesses.
This is the first scheme of its kind in the Gulf, under the “Kafala” sponsorship system, where foreigners are usually only granted temporary residence permits.
What is the UAE Golden Visa?
The Golden Visa system primarily grants investors, entrepreneurs, persons with exceptional talents such as researchers, and outstanding students a 5 or 10 years long-term residency visa in the UAE.
The key benefit of the visa will be security. With the issuance of the Golden Visa, the UAE government has made it clear that it is committed to providing expatriates, investors, and basically, anyone seeking to make the UAE their home with an additional reason to feel secure about their future.
Who is eligible for the UAE Golden Visa?
The application process is simple; candidates must submit the needed paperwork and be willing to relocate to the UAE in order to pursue their business venture. However, the qualification criteria vary depending on the visa’s duration.
Investors and people with specialised talents are eligible for ten-year visas, while investors, entrepreneurs, and outstanding students are eligible for five-year visas.
What are the eligibility criteria?
Investors applying for the 10-year visa must have public investments worth at least AED 10 million (₹20 crore) in the form of investment funds, capital in a firm in the UAE, or partnerships with a new or existing enterprise. On the other hand, the minimum investment amount for investors seeking a 5-year visa is AED 5 million (₹10 crore).
Entrepreneurs must have an existing project with a minimum capital of AED 500,000 (₹1 crore) or the approval of a country-based certified business incubator.
Meanwhile, people with specialised talents —doctors, scientists, inventors, or creative individuals in the fields of art and culture— must be approved by authorities such as the Emirates Scientists Council or the Ministry of Culture and Youth. They also need to have their abilities recorded in international journals, or be the owners of globally renowned businesses.
Students with a minimum grade of 95 percent and a grade point average of at least 3.75 in their graduation can apply for a 5-year UAE residency visa.
How to apply for the UAE Golden Visa?
Anyone interested in applying for a Golden Visa can do so through the official website of the Federal Authority for Identity and Citizenship or the General Directorate of Residency and Foreigners Affairs. The former has only online channels, whereas the latter has both online and offline outlets.
Indians who have received the UAE Golden Visa
Several Indian celebrities have been issued the UAE’s golden visa, which allows them to stay in the country for an extended period of time. Shah Rukh Khan was among the first few Indian celebs who were granted UAE’s golden visa.
Boney Kapoor’s family which includes Janhvi Kapoor, Arjun Kapoor, Khushi Kapoor, and Anshula Kapoor have been granted a 10-year golden visa.
Sanjay Dutt, Sanjay Kapoor, and Dulquer Salmaan have also been issued the Golden Visa as well.