What is the Golden Visa in the UAE?
The Golden Visa is a special residency programme of the United Arab Emirates (UAE) that offers various foreign investors, entrepreneurs, specialists and outstanding talented individuals the opportunity to obtain a long-term residence permit. Through the Golden Visa, holders benefit from numerous advantages, not only professionally but also personally.
Advantages of the Golden Visa
- Long-term residence: The Golden Visa allows a stay of up to 10 years without the need for an Emirati citizen as sponsor.
- Include family members: Golden Visa holders can apply their immediate family members, such as spouse and children, for the visa as well.
- Freedom of movement: With the Golden Visa, holders can move around the UAE and other countries with ease.
- Competitive advantage for entrepreneurs: Entrepreneurs benefit from simplified business set-up and access to financing options.
Who can apply for a Golden Visa?
The Golden Visa is open to various groups of individuals, including:
- Investors who purchase properties worth at least AED 2 million (approximately 550,000 euros).
- Entrepreneurs with a minimum capital of AED 500,000 (approx. €137,000) or who have an approved start-up investment.
- Highly qualified professionals working in the UAE with specialised skills.
- Students from the best universities in the world who have an outstanding academic record.
The application process for the Golden Visa
While the process to apply for a Golden Visa in the UAE is simple, it does require some documents and prerequisites. The following steps are necessary:
- Verification of qualification: check if you qualify the requirements for a Golden Visa.
- Compilation of required documents: This includes proof of identity, financial and income proof, and specific documents that may vary depending on the applicant.
- Apply online: Submit your application through the official Dubai Land Department website.
- Await approval: After submitting your documents, you will need to wait for approval, which is usually granted quickly.
How the Golden Visa affects the property market in Dubai
The Golden Visa has had a significant impact on the property market in Dubai. By encouraging investment from abroad, it has not only increased interest in property in Dubai, but has also contributed to the stability and growth of the market. The government recognises the importance of foreign investors and has therefore created more attractive conditions to attract new investments.
Conclusion
Overall, the Golden Visa represents an excellent opportunity for individuals considering long-term living and working in the UAE. With the multiple benefits and opportunities it offers, it is an attractive proposition, especially for investors and talented professionals.
Illustrative example on the topic: Golden Visa
Imagine an entrepreneur named Thomas from Germany wants to start a new business in the technology sector in Dubai. After thoroughly researching and analysing the market, he decides to invest in a property worth AED 2 million to establish his business locally. By applying for the Golden Visa, Thomas can not only realise his business idea but also bring his family to Dubai. This will allow them to enjoy the many benefits and international quality of life that the UAE offers. Thanks to the Golden Visa, Thomas can now live and work in Dubai long-term without having to worry about the uncertainties of a short-term visa status.
