There was a time when people dreamed of settling in megacities like New York, Miami or Paris. However, Dubai has now overtaken these cities to become the most preferred city in which to live. Those who dream of settling in Dubai or visit the Emirate regularly, wish to grab a golden visa that allows long–term residency. Dubai, known for its incredible growth in the industrial sector, offers myriad opportunities to those who wish to open businesses here. Moreover, modern facilities and political stability too are highlights of Dubai.
Youth is getting increasingly attracted to Dubai which has grown into a major financial hub of the Middle East. Besides, the favourable visa guidelines are a positive factor that lures enthusiastic youngsters to the Emirate. It was in 2019 that Dubai launched the golden visa program, which brought hundreds of investors and experts in the fields of science, technology and health to the UAE. Not just in Dubai, but the golden visa allows the holder to work and invest in other Emirates like Ajman, Fujairah, Ras Al Khaimah, Sharjah and Umm Al Qaiwain.
What is a golden visa?
The Dubai Golden Visa is a long–term residency program offered by the UAE government to eligible individuals who live and work in Dubai without traditional sponsorship or employment. Golden visa is given to wealthy persons who are potential investors, entrepreneurs, outstanding students and graduates, humanitarian pioneers or experts in any field. The visa processing is quite easy for doctors and artists, especially actors. Usually, the golden visa is valid for five to ten years and can be easily renewed under the same terms. Oil is the main source of income for the UAE; however, the country aims to lessen its dependency on oil by strengthening its health, education and technology sectors. The golden visa has been launched to turn the UAE into a global hub of investors, businesspersons and talented personalities.
Benefits of a golden visa
The golden visa allows long–term residence in the UAE without a sponsor or employment. Golden visa holders can enter or exit the UAE as they wish. However, the most attractive feature is that the visa holder can sponsor their close family members. The visa lets you run businesses or choose employers. Moreover, entrepreneurs can enjoy success and prosperity. The Golden visa holders can also sponsor domestic helpers.
Eligibility for golden visa
Those who have proved their talent in various fields are eligible to apply for a golden visa. Doctors, engineers, artists, actors, investors, sports persons, experts in engineering and technology, talented students, real estate investors and entrepreneurs can apply for the golden visa.
Doctors and healthcare professionals require approval from the Ministry of Health and Prevention and the scientific council. Meanwhile, creative people in the fields of art and culture need an approval letter from the Department of Culture and Arts. Executive directors should be degree holders, have experience of at least five years and draw a salary of 50,000 AED. Investors should invest at least 2 million dirhams, run their businesses or pay 2,50,000 AED as tax. Moreover, the investors should have a proper investment project that is worth 5,00,000 million AED.
The application for the golden visa could be submitted through the UAE government’s official portal. The applicants can register and apply using the ‘One Touch’ golden visa facility.