Below are the eligibility criteria and the steps on how to apply.
problem: I have been reading that many people have obtained the UAE Golden Visa even though they have no real estate or investment here. In addition to investors or businessmen, what other categories can obtain long-term residency? How did they do it? Can those under the sponsorship of their company get it? What is the process?
Reply: According to your inquiry, it should be noted that the UAE Cabinet Resolution No. 56 of 2018 allows foreigners to obtain long-term residence visas (golden visas) in the UAE.
If an individual’s investment in the UAE is at least 10 million dirhams, he is eligible to apply for a 10-year visa without a guarantor. The above investment should be without any loans and should be retained for at least three years.
Under this category, investors may also include their spouse and family members as well as an executive director and a consultant of their business entity when applying for a residence visa.
In addition, any individual who owns real estate worth 5 million dirhams or more in the UAE is eligible to apply for a five-year visa. Under these categories, the property should be retained for at least three years and no loans are allowed.
Emirati entrepreneurs with an investment value of at least AED 5 million in existing projects in the UAE are also eligible to apply for a five-year visa. These entrepreneurs may include their spouse, family members, a business partner and three executives.
Individuals who do not meet the qualifications for investors and businessmen who have specialized professionals can apply. Individuals engaged in research in the fields of science and knowledge, such as doctors, experts, scientists, inventors, and creative individuals in the fields of culture and art, can also apply.
Such special talents can obtain a 10-year visa.
Other categories include:
> Scientists must be recognized by the UAE Committee of Scientists or the recipient of the Mohamed Bin Rashid Award for Scientific Excellence
> Creative personnel in the field of culture and art must be recognized by the Ministry of Culture and Knowledge Development
> Inventors must obtain valuable patents, which will increase the UAE’s economy.Patent must be approved by the Ministry of Economic Affairs
> Outstanding talents must have patents or scientific research published in world-class journals
> Executives must be owners of leading, internationally recognized companies or people with high academic achievements and positions
> Doctors and specialists must meet at least 2 of the following conditions:
-PhD degree from one of the world’s top 500 universities
-Reward or certificate of appreciation in the applicant’s work area
-Contribute to major scientific research in the applicant’s field of work
-Publish articles or scientific books in outstanding publications in the applicant’s field of work
-Membership of organizations related to the field
-Doctorate degree and 10 years of professional experience in the applicant’s field of work
In addition, outstanding students studying in accredited schools and universities inside and outside the UAE can apply for long-term residence visas. They may include the families of these students.
If any individual in the UAE falls into the above categories, they can apply for a golden visa through the website of the Federal Identity and Citizenship Administration (ICA). For further clarification on this matter, you can contact the Directorate General of Residence and Aliens Affairs.
Ashish Mehta is the founder and managing partner of Ashish Mehta & Associates. He is qualified to practice in Dubai, the UK and India. For complete details of his company, please visit: www.amalawyers.com. Readers can email questions to: firstname.lastname@example.org or to Legal View, Khaleej Times, PO Box 11243, Dubai.