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Dubai Golden Visa: Eligibility rules and its impact on global mobility
Dubai has rapidly turned into one of the most sought-after destinations for expatriates considering relocating abroad. Surpassing iconic cities like New York, Miami, and Paris, Dubai's allure is rooted in its strategic location, cutting-edge infrastructure, political stability, and business-friendly environment. As the UAE establishes itself as the financial nucleus of the Middle East and Central Asia, its appeal to top talent, academicians, and entrepreneurs continues to grow.One of the key factors behind Dubai’s rising prominence is the UAE’s progressive visa policies. In 2019, the UAE government introduced the Golden Visa, a landmark initiative designed to attract and retain global talent and investors. This long-term residency visa represents a strategic shift from temporary expatriate labour towards a more permanent and stable talent pool. The Golden Visa enables individuals to live, work, and invest in any of the UAE’s seven emirates—Abu Dhabi, Ajman, Dubai, Fujairah, Ras Al Khaimah, Sharjah, and Umm Al Quwain.
All about the UAE Golden Visa
The Golden Visa offers a range of benefits that cater to wealthy and skilled individuals. Issued for 5 to 10 years and automatically renewable, the visa aims to support the UAE’s diversification strategy by reducing its dependency on oil and bolstering sectors like technology, education, and healthcare. This initiative aligns with the UAE’s vision of becoming a leading global hub for business and talent.
Key benefits of the Golden Visa
Extended residency: The visa provides a long-term residence permit without the need for a local sponsor.
Ease of travel: Visa holders can travel in and out of the UAE with minimal restrictions and sponsor immediate family members.
Professional freedom: The visa allows for full business ownership and freedom to choose employers, fostering a conducive environment for entrepreneurial and professional growth.
Family and domestic worker sponsorship: Visa holders can sponsor their family members and any number of domestic workers.
Eligibility and requirements
The Golden Visa caters to various categories of applicants, like doctors and scientists, investors, creative individuals, executive directors, athletes, specialists in engineering and science, outstanding students, public investment investors, real estate investors, and entrepreneurs.
Applicants are required to meet specific criteria too like doctors and scientists need approval from the Ministry of Health and scientific councils; creative professionals require approval from the Department of Culture and Arts; Executive Directors need a degree, five years of experience, and a salary of AED 50,000; investors must deposit AED 2 million, own a business, or pay AED 250,000 in taxes; entrepreneurs must have a project valued at AED 500,000 with relevant endorsements.
Applying for the UAE Golden Visa is streamlined through the official portal. Applicants can register and apply via the ‘One-touch’ Golden Visa service, accessible on the ICP website or app available on Google Play and the App Store. This simplified process reflects the UAE’s commitment to facilitating global talent and investment.
Source: Times Of India
