UAE Expands Golden Visa Eligibility Criteria to Attract Global Talent

In a recent announcement, authorities in the United Arab Emirates (UAE) have disclosed detailed information about the coveted Golden Visa Program, offering a pathway for investors, entrepreneurs, scientists, and exceptional students and graduates to avail themselves of unique benefits.

This initiative aims to attract and retain global talent, contributing to the UAE’s economic growth and diversification.

It is worth noting here that the eligibility criteria for the Golden Visa Program vary based on the applicant’s residence type, talent, and entrepreneurial pursuits, among other factors.

Investors in Public Investments

Investors looking to participate in the Golden Visa Program through public investments have a ten-year opportunity without the need for a sponsor, provided they meet the following conditions:

• Submission of a letter from a UAE-based investment fund confirming 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, demonstrating an annual payment of AED 250,000 or more to the government.

Also Read: Golden Visa: Get UAE Citizenship Without Any Investment

Investors in Real Estate

Foreign nationals interested in real estate investments can benefit from the Golden Visa for a period of five years without a sponsor if they fulfil the following criteria:

• Ownership of one or more properties valued at AED 2 million or more
• Purchase of a property through a loan from a specific local bank approved by relevant local authorities

Entrepreneurs

Entrepreneurs can also take advantage of the Residency by Investment scheme for a five-year period with an economically innovative project. The following conditions must be met:

• An approval letter from a UAE-based auditor confirming a project value of AED 500,000 or more.
• A letter from UAE authorities stating the project’s technical or futuristic nature.
• A letter from an accredited business incubator in the UAE to launch the proposed activity in the state.

Facilitating the Application Process

To further streamline the application process, the UAE introduced a new Golden Visa platform called “One Touch” in April.

This initiative aims to attract a significant number of wealthy foreigners and has been confirmed by the UAE Federal Authority for Identity, Nationality, Customs, and Port Security (ICP).

Also Read: UAE Golden Visa: Step-by-Step Guide to Applying for Six-Month Entry Permit

Conclusion

The Golden Visa program provides a pathway for talented individuals and investors to reside and work in the UAE, fostering innovation, entrepreneurship, and economic growth.

The program’s flexibility and diverse eligibility criteria cater to a wide range of professionals, positioning the UAE as an attractive destination for global talent.