The acquisition of the golden visa
The Golden visa is a type of resident visa characterized by a longer duration, unlike the partner visa which since October 2022 has seen its duration shortened from 3 years to 2 years, it is also different from the employee visa which has also a duration of 2 years, the golden visa has a duration of 5 or 10 years. Another important feature, unlike other visas which require you to be in the United Arab Emirates every 6 months, the holder of the golden visa is exempt from this obligation, allowing him to stay outside the United Arab Emirates. Thus, this extended visa aims to keep people with specific talent or people who have invested in the country without sponsorship in the United Arab Emirates. At the same time, it allows the holder to sponsor the members of his family, the latter will benefit from the period of 5 or 10 years even if the holder were to die. It is therefore necessary to see the different criteria giving access to the Golden visa to expatriates since November 2022.
The criteria for acquiring the golden visa in Dubai
A - Real estate investments in Dubai
Indeed, with regard to real estate investments in Dubai in particular, holders of real estate up to 2 million dirhams, or 544,000 dollars, are eligible to obtain the golden visa for 5 years renewable under the same conditions. With regard to real estate purchases, this rule applies to purchases called "on plan" not completed, if the total amount of the sum of 2 million dirhams has already been paid. Thus, the golden visa will be granted subject to obtaining proof from the Dubai land department that the property or assets acquired from the expatriate have a value equivalent to 2 million dirhams.
B - Contractors
Regarding this category, it allows entrepreneurs to obtain the golden visa for 5 years, when they are at the origin of an economic project of a technical nature in connection with risk and innovation. However, obtaining the golden visa is subject to several authorizations, in particular from 3 entities including an auditor in the United Arab Emirates who can certify that the value of the project is not less than 500,000 dirhams, from the authorities of the United Arab Emirates indicating that the technical nature of the project meets expectations in terms of innovation. Finally, an accredited business incubator in the United Arab Emirates to verify the proposed activity.
For investors placing in an investment fund, you can benefit from a Golden Visa for a period of 10 years without a sponsor, subject to:
presentation of a letter from an investment fund accredited in the United Arab Emirates indicating that the investor has a deposit of 2 million dirhams, or the presentation of a valid business license or industrial license and a memorandum of association indicating that the investor's capital is not less than 2 million dirhams. In addition, the investor must own all of the capital invested, in addition it must not be a bank loan.
C - People with a special talent
People with exceptional talent can benefit from the 10-year golden visa. In addition to inventors, people with an artistic gift, athletes, specialists in engineering and science, certain students, doctors or scientists can also benefit from the golden visa.
Thus, depending on the talent, it will be necessary to obtain the approval of the various administrative services and departments by mail.
The firm accompanies you in order to obtain a golden visa as soon as possible.
by Akram Cheik - Lawyer
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