Dubai in movies and insta reels look so cool. Wish I could live there 1 day — Trust us we all thought of it at some point. Isn’t it?

But what if we tell you that it’s possible now? And no, we’re not talking about some Ponzi scheme of paying some amount to get work opportunities there. This is a 100% legit initiative by the Govt. of UAE we’re talking about — Golden Visa!

Golden Visa is a “Two birds, one stone” opportunity that not only allows you to experience the exquisite lifestyle of Dubai but also presents an opportunity to make property investments in Dubai, a rapidly growing real estate market.

So, if you’ve ever wished to live in this Golden City, then Golden Visa is perhaps your Golden Ticket to DUBAI. Want to know how? Stay tuned!

What is a Golden Visa?

The UAE Golden Visa is a prestigious residency program offered by the United Arab Emirates (UAE) to attract investors, entrepreneurs, and talented individuals from around the world. It grants eligible applicants and their families long-term residency in the UAE, along with a range of benefits and opportunities.

The UAE Golden Visa is an extended residency permit that allows successful applicants to live in the UAE for a longer duration compared to traditional short-term permits. It typically offers a validity period of up to 10 years, providing stability and security for individuals and their families.

To be eligible for the UAE Golden Visa, individuals must meet specific criteria set by the UAE government. The program targets different categories of applicants, including investors, entrepreneurs, skilled professionals, scientists, innovators, and outstanding students. Each category has its own requirements, such as a minimum investment amount, proven business track record, professional expertise, or academic achievements.

While the UAE Golden Visa primarily focuses on long-term residency, it may also open doors to potential citizenship prospects in the future. The UAE government has expressed its commitment to nurturing relationships with foreign investors and entrepreneurs, and citizenship opportunities may be considered for eligible individuals who meet specific criteria.

Benefits of Golden Visa Multiple-Entry Entrance Visa

The Golden Visa offers a multiple-entry entrance visa that is valid for six months before a residence permit is issued. This allows visa holders to enter and exit the UAE multiple times during this period.

10-Year Validity Period

The Golden Visa provides a long-term residency solution with a validity period of up to 10 years. This offers stability and security to individuals and their families, allowing them to live in the UAE for an extended period.

Living in a Wealthy Country

By obtaining the Golden Visa, individuals have the opportunity to live in one of the wealthiest countries in the world. The UAE's robust economy, modern infrastructure, and high standard of living contribute to an exceptional lifestyle for visa holders.

Renewal Possibility

The Golden Visa can be renewed after its expiration, ensuring that individuals can maintain their long-term residency status in the UAE. This allows visa holders to continue enjoying the benefits and opportunities offered by the program.

No Sponsor Requirement

Unlike many other visa types, the Golden Visa does not require an individual to have a sponsor. This means applicants can apply for and obtain the visa independently, providing more freedom and flexibility in their residency status.

Residency in the UAE not Required

The Golden Visa does not have a requirement for individuals to reside in the UAE to keep the visa valid. This is beneficial for those who may need to travel extensively or have international business commitments while maintaining their residency status in the UAE.

Sponsorship for Family Members

Golden Visa holders have the privilege of sponsoring their family members, including children, regardless of their age. This allows families to stay together and enjoy the benefits of long-term residency in the UAE.

Sponsorship of Domestic Helpers

Golden Visa holders have the option to sponsor any number of domestic helpers, such as cleaners, nannies, and drivers. This facilitates the hiring of household staff to assist with daily tasks and enhances the convenience and comfort of living in the UAE.

Esaad Privilege Card

UAE Golden Visa holders receive an Esaad privilege card, which grants them significant discounts in the UAE as well as in 92 other countries. This card offers exclusive benefits and privileges in various sectors, including hospitality, retail, entertainment, and travel.

Additional Preferences for Abu Dhabi and Dubai Residents

Golden Visa holders residing in Abu Dhabi and Dubai may receive additional preferences and advantages. These may include access to specialized services, exclusive events, and enhanced opportunities tailored to the needs and interests of residents in these cities.

Driver's License Eligibility

Foreigners with a driving license from their home country can now take a UAE driver's test without needing extra lessons. If Golden Visa holders have a license from one of the 32 approved countries, including the US, the UK, and Australia, they will automatically be eligible for a UAE driver's license. This streamlines the process of obtaining a local driver's license and facilitates mobility within the UAE.

Advantages of Golden Visa Back-up plan

The UAE Golden Visa offers expatriates a solid backup plan by providing them with the opportunity to reside in one of the wealthiest and most prosperous countries worldwide. This means that even during times of epidemic, political instability, or economic challenges when borders may be closed, Golden Visa holders can still travel to the UAE and enjoy the benefits of their residency.

Safety

Safety is a top priority in the UAE, with the country consistently ranking high in terms of security. In 2022, the UAE ranked second in the World Safety Index. Abu Dhabi claimed the first spot among the emirates, while Sharjah and Dubai secured the fourth and eighth positions, respectively. This emphasis on safety provides peace of mind for Golden Visa holders and their families.

Education

The UAE is renowned for its exceptional education system. The country is home to several world-class universities that have earned recognition on a global scale. In the QS World University Rankings 2023, 11 UAE universities were included, with three of them ranking among the top 500. Some of these institutions are branches of prestigious educational institutions from the United States, Australia, and the United Kingdom. This ensures that Golden Visa holders have access to high-quality education for themselves and their children.

Tax system

The UAE's tax system is another major advantage for Golden Visa holders. The country is considered a tax haven, as various sources of income, capital gains, inheritance, gifts, and properties are exempt from taxation. Until 2022, there was no tax on corporate profits. However, starting from January 2023, a corporate profit tax rate of 9% has been implemented. Nonetheless, the overall tax environment remains favorable for individuals and businesses seeking to minimize their tax burden.

Business opportunities

The UAE presents excellent business opportunities for investors. By establishing companies in the UAE, investors can leverage the favorable tax environment and reduce their tax liabilities. Free Zones, particularly those located in Dubai, offer the most advantageous conditions for companies, as they operate under special tax and customs regimes. Companies in Free Zones enjoy benefits such as exemption from corporate taxes, VAT import/export taxes, and the ability for foreign investors to become the sole company owners.

Shopping and entertainment

The UAE is not only a hub for business and economic opportunities but also offers a vibrant shopping and entertainment scene. Iconic landmarks such as Burj Khalifa, Sheikh Zayed Mosque, and the Louvre Abu Dhabi museum provide captivating sightseeing experiences for individuals of all ages. With a plethora of shopping destinations, including luxury malls and traditional markets, Golden Visa holders can indulge in a diverse range of retail experiences.

We’re sure this has got you all pumped up that you’re thinking of searching for the Golden Visa application procedure. But don’t worry, we’ve got you covered! In our next blog, we’ve explained the process to get a golden visa in Dubai by investing in real estate. Go give it a read!