Is the Golden Visa in Dubai a permanent residency
The UAE Golden Visa is a residence permit that allows foreign nationals to live and work in the country. It has several benefits, including the ability to own property and access government services on par with citizens. It also eliminates personal taxes, such as those on income, capital gains, inheritance and gifts. It also provides a more stable and secure environment for investment and entrepreneurship.
The Golden Visa in Dubai is a new type of residence visa for investors, entrepreneurs, exceptional talents and people with outstanding achievements, frontline heroes and humanitarian pioneers. It is valid for ten years and offers several advantages over other types of residency, including the freedom to travel to and from the UAE. The visa holder can sponsor family members, regardless of age, and can even sponsor unlimited domestic support staff.
Those who want to obtain the Dubai Golden Visa can do so through one of the two approved channels: the Federal Authority for Identity and Citizenship (ICA) or the General Directorate of Residency and Foreigners Affairs (GDRFA). ICA allows online applications, while GDRFA enables offline application. Applicants must submit various documents in order to meet the requirements of the UAE Golden Visa.
Is the Golden Visa in Dubai a permanent residency or a temporary permit?
The golden visa is available for a range of different categories, including businessmen and women, doctors and scientists, coders and artists. The criteria for these categories are quite strict, requiring applicants to have high-level education and professional experience in their fields. The criterion for artists is more flexible, allowing the submission of art pieces that represent their cultural identity.
For real estate, the holder must invest at least AED two million in a UAE bank account such as First Abu Dhabi Bank and must possess complete ownership of the investment. In addition, the invested capital must not be financed by loans or by a company that is controlled by a UAE national.
Exceptional talents can apply for the Golden Visa by providing evidence of their skills and expertise in their fields. These include distinguished experts in coding, individuals who have worked for pioneering technological firms, and graduates from computer sciences, hardware engineering, software engineering, artificial intelligence, big data, and electrical engineering.
Other requirements for a golden visa include proof of assets and a health certificate. In addition, the holder must have a net worth of at least AED two million or the equivalent in other currencies. Applicants must also submit bank statements for the previous six months and provide an employment certificate.
The UAE has introduced the Golden Visa to attract foreign investors, boost the economy, and promote entrepreneurship. This groundbreaking visa has many advantages over other types of residency, including no requirement for a sponsor and the ability to open a bank account and receive government services on par with citizens. Additionally, the holder can stay in the UAE for up to six months without losing their status. The Dubai Golden Visa also gives holders the right to sponsor family members and purchase unlimited properties.
