Everything You Need To Know About The UAE's 'Golden Visa'

Movie superstar Rajnikanth was recently granted a “golden visa” by the UAE’s Department of Culture and Tourism. The scheme was launched in 2019 to allow certain people to work and settle in the Emirates for a longer duration to boost the country’s economic and investment profile. It hopes to attract and retain talented individuals, researchers, outstanding students, doctors, specialists, innovators, athletes, entrepreneurs, investors in the economic and real estate sectors, and emerging companies.

According to the General Directorate of Residency and Foreigners Affairs (GDRFA) in Dubai, 158,000 “golden visas” were granted in the emirate alone. Here’s all you need to know about the UAE “golden visa”.

What Is The Visa About?

The “golden visa” is a residence permit which allows immigrants to live in the country for five to 10 years. It does not require an Emirati resident to sponsor your stay in the country as was the norm for decades. Immigrants to the UAE have to typically renew their visas every two to three years which this visa does away with. However, the “golden visa” does not entitle individuals to Emirati citizenship.

With the “golden visa”, residents can stay outside the UAE for over six months. Previously, residence visas required a trip every six months to the country for them to still be valid. The “golden visa” enables individuals’ families to receive “golden visas” too. In the event of the primary visa holder’s death, their families can stay in the UAE until their own permit expires.

Who Is Eligible?

There are several different categories of the “golden visa.”  You can apply for it even if you are living outside the UAE.

Those applying under the investors stream should have a letter from an investment fund approved in the UAE stating that they have deposited approximately INR 45 million in the country, or that their capital is not less then that amount. Furthermore, they need a letter from the Federal Tax Authority stating that their company pays no less than INR 5.6 million in annual taxes.

Those applying under the management stream should prove they have a monthly salary of approximately INR 678,000. They also need to furnish six months of bank statements, a salary certificate and a No Objection Certificate from their employer.

Check your eligibility here.

How To Apply?

Those interested in applying for a “golden visa” should visit the Federal Authority for Identity, Citizenship, Customs and Port Security’s website. You can seek the help of UAE-based or India-based typing centres and immigration services to apply for the “golden visa” if you prefer the help of a third-party. Those applying by themselves should follow the instructions and guidelines or call the helpline number provided on the website.