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Are you planning a business or career in UAE? Then you must know about the golden opportunity, known as the golden visa. UAE is renowned for its endless market opportunities. Whether you are a skilled professional or an investor, the country has opened its door to new flexibilities. In this article, you will have all your queries answered related to the new golden visa rules that took effect on October 3, 2022.

What is UAE Golden Visa?

The Golden Visa is a long-term resident visa that allows international talents to live, work, and study in the UAE for up to 10 years. This residence visa is renewable. However, the scheme is only available to some particular categories of people. For example, foreign investors and business owners can now own 100% of their companies in the UAE. Their visas are automatically renewed after five or ten years.

The new scheme adjustments were initially announced on Monday, April 18, by the UAE Cabinet, chaired by Sheikh Mohammed bin Rashid Al Maktoum. He is the Vice President and Prime Minister of the country, and the ruler of Dubai. The new Golden Visa scheme is already helping the economy of the nation.

Who are eligible for the Golden Visa?

Under a new set of executive regulations, the eligibility requirements for this visa scheme have been streamlined. There is an increase in the eligible groups of people who can apply for the ten-year long visa.

These individuals include investors, business owners, entrepreneurs, startup owners, scientists, exceptional talents, athletes, Ph.D. holders, professionals, exceptionally performing students and recent graduates, humanitarian icons, and healthcare heroes.

Benefits of Golden Visa

Now, what’s all that craze for? Decide for yourself after looking at these notable benefits of getting this visa.

  • A six-month resident permit that allows multiple entries.
  • A long-term, ten-year residence permit that is renewable.
  • An independent visa (self-sponsored).
  • The person can spend unlimited duration outside the UAE but still their visas will not be repealed.
  • Regardless of their ages, can sponsor their spouses, children, and other family members.
  • Can support as many household help without a set limit.
  • If Golden Visa holder passes away, their family members can still reside in the country. (till the end of their permit’s validity).

Note: Some benefits are specific to each emirate of the UAE.

Application and Fees

Individuals interested in applying can do so via the website (https://business.goldenvisa.ae/). Candidates must provide all needed documentation and agree to relocate to the UAE to pursue their business, profession, etc. The type of service and visa category determine how much the UAE Golden Visa costs. The application fee for the Golden Visa for those submitting applications from the UAE can vary from AED 2,800 to AED 3,800. Also, the fee for those who apply outside the nation varies from AED 3,800 to AED 4,800.

Wrapping Up

The new Golden Visa scheme has been a game changer. The relaxed regulations and policies tend to be helpful for both the deserving candidates and the nation’s economy.