UAE Golden Visa Eligibility Requirements and Application

UAE is considered one of the most progressive and people-centric countries all around the world. This is undoubtedly true as the UAE government always strives to introduce laws, policies, and programs that ensure the sustenance of a healthy and secure multicultural atmosphere. This is the reason that every year, hundreds of thousands of people from all around the world move to the UAE to start a new life. UAE’s government also embraces talented individuals regardless of national boundaries. The launch of the UAE Golden Visa in 2019 is one such step that has simplified the residency process for people who want to reside in the UAE for a long period. However, there are certain UAE Golden Visa eligibility requirements to be fulfilled by the candidates. So, in this blog, we are going to discuss who is eligible for the Golden Visa and what the requirements are. 

What is the UAE Golden Visa? 

The UAE Golden Visa is a long-term residence visa (10 years) that allows expats to sponsor themselves as well as their families to live, work, and enjoy a secure and delightful lifestyle in the UAE. 

Who is Eligible for UAE Golden Visa?

• Investors 
• Entrepreneurs 
• Outstanding Specialized Talent 
• Extraordinarily talented students  

These are the four major categories of individuals who can apply for the UAE Golden Visa. 

What are UAE Golden Visa Requirements? 

1. Investors 

Public Investment

If an individual invests a minimum sum of AED 2 million in an investment fund or company, they may be granted a Golden Visa valid for 10 years without the need of any sponsor. However, as per UAE Golden Visa eligibility requirements, the capital must be completely owned by the investor and it’s not a loan, and the investor submits the proof of medical insurance. Moreover, the investor must submit a verification letter from the investment fund accredited in the UAE, mentioning that the investor has a deposit of AED 2 million or a valid commercial or industrial license and a memorandum of association that proves that the investor’s capital is AED 2 million or more. Furthermore, the investor is also required to submit a letter from the Federal Tax Authority that mentions that the investor pays a sum of AED 250,000 or more annually to the government against taxes. 

Real Estate Investment

If an individual invests in real estate, they become eligible for UAE Golden Visa. However, as per UAE Golden Visa eligibility requirements, the value of the property or group of properties they own must be at least AED 2 million. To prove the value of the property, the investor must provide a letter from the land department of the respective emirate. Moreover, if the property is purchased through a loan by a local bank, the specified bank must be recognized by the competent local authority.  

Previously, to qualify for a 10-year Golden Visa for properties bought on mortgage or installment plans, real estate investors were required to pay a minimum down payment of AED 1 million, or 50 percent of the property's value to the bank or developer. However, the recent change announced by the government of the UAE eliminated the need for a minimum down payment altogether. Now, real estate investors become eligible for the Golden Visa if the property's value is AED 2 million or more, regardless of whether it's off-plan, completed, mortgaged, or not mortgaged. 

2. Entrepreneurs

An entrepreneur who owns an economic project of a technical or future nature, in the field of risk and innovation, may become eligible for a Golden Visa. However, as per UAE Golden Visa eligibility requirements, they need to submit approval letters from a) an auditor in the UAE that verifies that the project’s value is AED 500,000 or more, b) the relevant authorities in the emirate to verify that the project is either of a technical or future nature and c) an accredited business incubator in the UAE to establish the proposed activity in the country.

3. Outstanding Specialized Talent 

Doctors, scientists, creative individuals, inventors, executive directors, specialists in scientific or engineering fields, athletes, and doctorate holders are categorized as outstanding specialized talent. They may become eligible for a 10-year Golden Visa if they fulfill certain requirements. 

Doctors

Doctors must submit a letter from the Ministry of Health and Prevention in the UAE granting them permission for the practice of medicine.

Scientists 

Scientists must submit a letter of recommendation either from the Emirates Council of Scientists or from the Secretariat of the Mohammed bin Rashid Medal for Scientific Excellence which verifies that the applicant has been awarded the Medal of Scientific Excellence.

Inventors

Inventors are required to submit a letter from the Ministry of Economy, which recommends that their patent or invention will add value to the country’s economy.

Creative People 

Creative individuals in the field of art must submit a letter of approval from the Department of Culture and Arts in the respective emirate.

Executive Directors

Executives who wish to apply for the UAE Golden Visa must submit a copy of no less than a bachelor’s degree recognized by the Ministry of Education as well as an experience letter stating that the applicant has worked in the same position for at least 5 years. Moreover, the candidate will also submit a salary certificate proving a monthly salary of AED 50,000 or more and a valid work contract.  

Athletes

Athletes applying for a Golden Visa must submit a recommendation letter from the General Sports Authority or one of the sports councils.

Specialists in Engineering and Science

Individuals holding expertise or specialization in the field of engineering and science must submit a copy of a Bachelor’s or a Master’s degree certified by the Ministry of Education along with a valid work contract.

4. Extraordinary Talented Individuals 

High school students

High school students who have topped in secondary school at the national level with a minimum of 95% marks are eligible to get a Golden Visa. However, as per UAE Golden Visa eligibility requirements, they must submit a letter of recommendation from the Ministry of Education. The visa can be renewed if the student is enrolled in one of the renowned colleges/universities in the UAE and the study period requires a   

University students

A student who graduated from a university recognized as either an A or B class by the Ministry of Education can be eligible for a 10-year Golden Visa, provided that they submit a recommendation letter from the university or an accredited graduation certificate or an accredited academic record which proves that the student’s CGPA is at least 3.5 for A class universities and 3.8 for B class universities. Moreover, the student must have graduated no more than 2 years ago. 

Pioneers of Humanitarian Aid

Individuals who are pioneers of humanitarian aid can be eligible for a 10-year Golden Visa if they meet at least one of the following conditions:

• They have worked for international and regional organizations for at least five years
• They have worked for civil associations and institutions of public interest for at least five years
• They have received an appreciation award from a local, regional, or international organization that promotes humanitarian work
• They are funders of humanitarian work and contribute an amount of no less than two million UAE dirhams or its equivalent.

Frontline Heroes

Frontline workers who exhibited remarkable efforts during predicaments, such as COVID-19, are also eligible to get a Golden visa, provided that a relevant and competent authority recommends them. Frontline heroes include nurses, medical assistants, lab technicians, pharmacologists, and other cadres approved by the Frontline Heroes Office.

How to Apply for the UAE Golden Visa

ICP’s one-touch service has made the Golden Visa application and renewal process quite simple and user-friendly. Users can simply visit the ICP portal, check their eligibility, and initiate the application process accordingly.

This Blog is written for informational purposes only, to provide you with a general understanding of the above-mentioned rules and regulations, and not to provide specific legal advice. The content should not be used as a substitute for professional advice from a licensed professional.