Dubai Golden Visa - Eligibility, Process, Requirements And More (2024)

The UAE is one of the fastest-growing economies in the world. The country’s economy is expected to grow by4%in 2024, which is higher than the country’s average CAGR of 3.7%. The country is a business hub with one of the lowest tax rates globally.

Many foreign business owners and investors have set up their businesses here. Foreign students and workers also find the country attractive due to world-class attractions and the high quality of life here.

To facilitate living in the UAE for such people, the UAE government has introduced many programs to bring top talent and boost the economy. Hence, the government introduced theDubai Golden Visa, a new framework for long-term residence visas, in 2019.

Check your eligibility if you fall under any of the categories below.

The new framework empowers foreigners to live, work, and study in the UAE without the need for the support of any local sponsor and with 100% ownership of business in the UAE Mainland. The Dubai golden visa will be given for 5 or 10 years and renewed automatically.

What is Dubai Golden visa?

The Golden Visa in the UAE is a long-term residence visa offered to foreigners who fulfil specific requirements. One of the most appealing features of this visa is that you do not need to renew it for 5-10 years.

TheGolden Visa in Dubaicomes with a number of exclusive benefits, and the process to obtain one is not too complex. The UAE government offers various visa programs, which we will discuss in detail later.

What are the Benefits of Golden Visa Dubai?

The UAE Golden Visa has quickly gained popularity among expats as it offers unique benefits that are not available or are limited with other visas. A Golden Visa holder enjoys long-term residence in Dubai. Other Golden Visa benefits also include travelling and sponsorship privileges. Overall, a Golden Visa in Dubai provides more flexibility in terms of personal as well as professional life.

Who can apply for a Golden Visa in UAE?

As stated earlier, the Golden Visa is only given to individuals who meet certain criteria reserved by the UAE government. People who make outstanding contributions to the country, are highly skilled, or work in specific sectors are only considered eligible.

In May 2024, changes were made in the Article 17 of Cabinet Resolution 65-2022. As per the latest update, the minimum basic salary must be AED 30,000 monthly for an applicant to become eligible for a UAE Golden Visa on a salary basis.

If you want to apply for the Golden Visa, you must fall into one of the following groups:

• Public investors
• Real estate investors
• Entrepreneurs
• Executive directors
• Doctors and scientists
• Lawyers
• Students
• Athletes
• Creative people in the fields of culture and art
• Specialists in engineering and science

Golden Visa Requirements

To apply for the Dubai Golden Visa, you must fulfil certain requirements based on the visa program you are applying for. Here we take a look at the Golden visa requirements for all types of visa applicants:

Investors

For the 10-year visa, investors with at least AED 2 million worth of public investment can apply.

You must submit a letter showing you have invested AED 2 million in an approved UAE investment fund.

Or, you can submit a valid company licence and memo of association showing an investment of at least AED 2 million in the company’s capital.

You can also submit a letter proving you paid at least AED 250,000 to the Federal Tax Authority.

The investor must:

• Fully own the invested money – no loans
• Have health insurance for them and their families

Property Investors

Real estate investors can get a 5-year renewable Golden visa If they own property worth at least AED 2 million.

They must provide:

• Letter from the land department proving at least AED 2 million property value
• Purchase the property through loans from approved local banks only

P.S. Property owners were required to make a down payment of at least AED 1 million before. The UAE government has removed this requirement. You can apply for a 10-year residency visa now, regardless of the down payment amount.

Entrepreneurs

If you own a project that is innovative, technical, or future-focused, you can get a 5-year Golden visa by providing:

• Auditor letter showing project value of at least AED 500,000
• Approval letter from Emirate authorities calling it a technical/innovative project
• Letter from an accredited UAE business incubator agreeing to host your project

Executive Directors

Executive directors need a Bachelor’s degree or higher that is certified by the Ministry of Education. They must have 5+ years of experience without switching positions and a salary of over AED 50,000. Executive directors must also have a valid UAE work contract.

Doctors and Scientists

Doctors have to provide approval from the Ministry of Health to practice medicine in the UAE.

Scientists need to present a letter showing they have won theMohammed bin Rashid Medalfor Scientific Excellence or have a recommendation from theEmirates Council of Scientists.

Inventors can also apply by providing a letter from the Ministry of Economy that their patent brings value to the UAE economy.

Students

High school students with outstanding performance can get a 5-year visa. He/she must be a national-level topper with a minimum of 95% marks in a public or private sector school.

Students from highly rated universities with high GPAs can get a 10-year visa. Foreign university students can also apply if they have graduated from a university rated among the world’s top 100 universities. They must have graduated at most 2 years ago, and their GPA should be at least 3.5.

For high school and university students, you would require a letter of recommendation or certificate accredited by the Ministry of Education.

Athletes

Athletes must provide a recommendation from theGeneral Sports Authorityor emirate sports councils.

Creative people in the fields of culture and art

Creative people require an approval letter from the arts and culture department in their respective emirate.

Specialists in Engineering and Science

Specialists in science and engineering need to provide the following:

• Bachelor’s/Master’s degree certified by theMinistry of Education
• A Valid UAE work contract

Humanitarian Work

You can get a 10-year visa if you have been involved in humanitarian work. To meet the criteria, you must:

• Have worked for 5+ years in international and regional organisations.
• Have received awards for humanitarian work
• Have worked for institutions that work in the public interest
• Have donated over AED 2 million for humanitarian causes

Frontline Heroes

Frontline workers who have showcased extraordinary effort during crises can also get the Golden Visa. They must provide a recommendation letter from any competent authorities.

How to Apply for Golden Visa UAE?

First, to apply for a Golden Visa in the UAE, check if you are eligible. Ensure you select the right visa type you want.

You can follow these steps:

• Visit the officialwebsiteand click on “Services”
• From the drop-down menu, select “Golden Residency Services”
• Scroll below and click on “Applying for Golden Visa”
• Now, you can choose the type of Golden visa you want to apply for
• Click “Start Service” to begin the application

In the next step, you are required to

• Fill in your personal details
• Attach required documents
• Review your visa application before submission
• Pay the visa fees

You must ensure that you accurately provide personal details and attach correct documents. The immigration office reviews your application, which can take 5-30 days.

What is the Cost of the Golden Visa in Dubai?

The price for the Golden Visa is not fixed. The cost will differ for public or real estate investors as they must show proof of investments in the UAE. And different for other categories.

You have to pay for a medical exam and an Emirates ID as an additional cost.

How Avyanco Can Assist with Your Golden Visa Application?

Avyanco Business Setup is a leading business setup consultant in Dubai. We have expertise and years of experience managing our client’s visa applications. We help foreigners with business setup in Dubai and assist with visas for them and their employees.

Our professional visa experts have significant experience helping our clients with Golden Visa applications. We have a proud team of pro executives, tax advisors, business consultants, seasoned lawyers, and visa experts.

Our consultants are known for their customer-centric approach. We assist you with your visa applications and a wide range of services, including business registration, VAT assistance, auditing, and compliance.

We ensure you move to Dubai and scale your business as smoothly as possible.

Our scope of services include:

• Visa Services
• Company Registration and Formation
• UAE Local Sponsorship
• Corporate PRO
• Accounting and Bookkeeping
• Trademark Registration
• VAT Consultation and Registration
• Internal and external audit
• Ultimate Beneficial Owner Disclosure
• AML Regulations
• Company License Renewals
• Document Clearing
• Economic Substance Regulation