In 2019, the UAE introduced a Golden Visa program that offered a unique opportunity for investors, entrepreneurs, students, scientists, and exceptional talents. After securing this visa, they can stay in Dubai for up to 10 years without renewing their residence permits. In addition, there are numerous benefits of this program, including tax exemptions, access to top-quality healthcare and education facilities, safe and secure environment, and an opportunity to get UAE citizenship.
The Golden Visa program is valid not only in the UAE — many countries participate in it, so let’s compare some of them. This comparison table shows different investor visa programs for residency.
| Criteria | Dubai Golden Visa | United States Golden Visa | Singapoure Golden Visa |
|---|---|---|---|
| Minimum Investment Amount | $540,000 | $800,000 | $1.8 million |
| Type of Investment | Real estate/Business | Business | Business |
| Visa Validity | Up to 10 years | 5 years | 5 years |
| Residency Renewal | Renewable | Renewable | Renewable |
| Tax Exemptions | Yes | No | Yes |
| Ability to Sponsor Family | Yes | Yes | Yes |
What Are the Requirements for Obtaining a Gold Visa in Dubai?
Not everyone can get a Golden Visa in Dubai. If you are going to apply, you must meet certain requirements:
- You have to invest in real estate or a business.
- Your background must be clean, as you will need to pass a security check.
- Compulsory health insurance.
- Provide a bank statement and confirmation of financial stability.
Once you meet all the requirements, you just need to submit the documents and fill out the forms.
Who Can Apply for a Golden Visa?
Initially, the Golden Visa was given to those who have made a significant contribution to Dubai and have a special set of skills. After years of practice, they have changed the policy, and now the following categories of people can apply for a Golden Visa in Dubai:
- Entrepreneurs — you can get a visa if your project has technical or economic significance and its cost is at least AED 500,000. The enterprise can be run by an individual or in partnership with another person or company, but the one who is going to apply for a Golden Visa must own 51% of the business.
- Investors — if you are a real estate investor, you must own property in Dubai that must be worth at least AED 2 million.
Or, if you are an investor in public investments, you should:
- have a deposit in an investment fund of at least AED 2 million, or
- have a capital of at least AED 2 million
- pay taxes to the government of at least AED 250,000 annually.
- Specialized talents:
- To obtain a visa doctors and scientists need approval from the UAE Ministry of Health and Prevention (for doctors) and a recommendation from the Emirates Council of Scientists or a letter from the Secretariat of the Mohammed bin Rashid Medal on scientific achievements (for scientists).
- Creative people from art and culture need a confirmation letter from the Department of Art and Culture.
- Executive directors need a copy of a university diploma (at least a bachelor’s degree), which is accredited by the Ministry of Education. Relevant work experience of 5 years, a salary certificate with a minimum amount of AED 50,000, and a valid work contract are also required.
- Athletes need to get an approval letter from the General Sports Authority or one of the sports councils.
- For specialists in engineering and science, it is required to provide a Ministry of Education certified copy of their bachelor’s or master’s degree, along with a valid employment agreement.
- High school students with a minimum score of 95 percent can get a visa. University students with a 3.5 GPA for class A universities and a 3.8 GPA for class B can qualify for a Golden Visa.
The most popular method of obtaining a visa in Dubai is investing in real estate. So, if you are a real estate investor — you can consult with specialists on Penthouse.ae about your next investment to clarify some details regarding the Golden Visa.
What Benefits and Privileges Can You Get with a Golden Visa?
Golden Visa in Dubai offers some benefits and privileges to applicants. Let’s discuss them below:
- If you are a Golden Visa holder, you can start a business in Dubai (finance, real estate, and other sectors). Golden Visa holders have access to the investment environment and the country’s vibrant business opportunities.
- A Golden Visa can bring you long-term benefits. You would be able to work in Dubai without the need for a local partner or sponsor.
- Golden Visa holders are allowed to get healthcare and education services in Dubai, including some of the known universities and hospitals.
- Golden Visa holders can sponsor their family members for long-term residency in Dubai.
- An entry visa is valid for 6 months to settle the procedure of residence issuance. Thanks to this, you can travel outside the UAE while your visa is being prepared.
The Validity of a Golden Visa and the Possibilities of Extension
The UAE Golden Visa program has two validity periods — 5 and 10 years. Here is a table with a list of professions that fall under different periods of visa validity.
| 5-year Golden Visa | 10-year Golden Visa |
|---|---|
| Real estate investors | Investors in public investments |
| Entrepreneurs | Outstanding specialized talents (doctors, scientists, creative people of culture and art, inventors, and executives) |
| High school students | University students (Outstanding students of foreign universities) |
| Pioneers of humanitarian work | |
| Frontline heroes |
Both visa types can be prolonged for the same duration after they expire.
There is one exception to the 5-year visa for students whose major requires more years of study — this visa will be automatically extended.
Dubai’s Golden Visa: A Game-Changer for Property Investors
The Golden Visa program in Dubai is a game-changer for real estate investors. Every year this program will attract more and more investors who will make a significant contribution to the country’s economy.
Apart from long-term residency, you can get benefits, such as access to quality healthcare and education, the ability to open bank accounts, and getting a driver’s license. In addition to the developed infrastructure, you will get a favorable business environment in which last year alone, 97,000 real estate transactions were recorded for a total of €67,38bn.
