- May 9, 2023
- 563
- Real Estate
The United Arab Emirates (UAE) is synonymous to the best ROI hub for investors looking to invest in real estate. Additionally, with the country’s stable economy, favourable business climate, and tax incentives, foreign investors are more likely to invest in luxury villas for sale in Dubai.
But do you know what’s more exciting and what makes your move even more irresistible?
It’s the UAE Golden Visa!
Probably, you may have heard about it, but most of you could be unfamiliar with the policy. This program has generated much interest among those who want to invest in villas in Dubai. That’s not all; this golden ticket to Dubai also provides investors with a range of benefits and opportunities.
In this guide, we’ll share all the important details of the UAE Golden Visa. So let’s take a closure look at it now:
What is the UAE Golden Visa?
The UAE Golden Visa was introduced in 2018, which allows foreigners to stay in the country for up to 10 years without a local sponsor. This Visa was launched to attract foreign investors and talent to promote innovation and entrepreneurship in one of the world’s fastest-growing economies.
Also, this programme offers exclusive benefits to eligible foreigners, such as settling, studying, or working in the UAE. People from different professions, such as scientists, students, sportspeople, inventors, entrepreneurs, and business owners, are all eligible for this programme.
The Abu Dhabi government has recently extended its eligibility to include senior scholars and clerks, leading industry specialists, and healthcare and education industry specialists. The Visa programme also aims to enhance the UAE’s reputation as a global hub for business, tourism, and culture, providing opportunities for talented individuals to grow and succeed.
Benefits Offered By UAE Golden Visa!
Investing in Property For Sale Dubai can be highly profitable, and obtaining a UAE Golden Visa can make it even more appealing. The visa provides numerous advantages, including:
1). It offers exceptional benefits for visa holders, such as working and living in the country. Plus, you can access high-quality education and healthcare services, with the additional benefit of sponsoring family members for residency visas.
2). Major benefits include a 6-month entry visa with multiple entries, which allows you to stay outside the UAE without cancelling the visa, and self-sponsorship. Also, you can sponsor your family members, including parents and domestic helpers.
3). In Abu Dhabi, Golden Visa holders are eligible for discounts and offer on cars, Property For Sale Dubai, health insurance, and banking services.
4). Under this programme, visa holders with a driving license from their respective home country can take the driver’s test in the UAE without extra lessons. Those with licenses from approved countries are eligible for a UAE driving license directly.
5). Students who perform exceptionally well and their families living in Dubai are eligible for the 10-year Golden Visa residency.
6). A Golden visa holder in Dubai, will receive the Esaad Privilege Card for free, exclusively available to you, valid for up to two years, providing discounts and benefits at various businesses and government service centres.
7). The Golden Visa holders in the UAE are entitled to free medical insurance, which covers all their medical needs. This insurance provides peace of mind and financial security to the visa holder and their family.
Who Is Eligible To Apply For UAE Golden Visa?
Foreign investors: If you have invested in Dubai properties, you can apply for a visa. However, Dubai’s real estate investment must be AED 2 million* or more, public investments of at least AED 2 million*, or pay the government AED 250,000* or more annually.
Entrepreneurs: As an entrepreneur, if you have your own business in Dubai, you are eligible to apply for a golden visa. Your business must be innovative and have the ability to add value to the UAE economy.
Individuals: People with specialised talents in science, medicine, and research can apply for the golden visa.
Steps To Apply For A UAE Golden Visa
Applying for a UAE Golden Visa is a straightforward process. Also, you need some documentation and proof of eligibility. To apply for the visa, you’ll need to follow these steps:
1. Find out which visa category you qualify for.
2. Gather all required documents, including:
I. Passport
II. Birth Certificate
III. Marriage Certificate
IV. Non-marriage certificate for children above 18 years of age
V. No-Criminal record certificate from the country of citizenship
VI. Good Conduct Certificate addressed to the Dubai Land Department
VII. Medical Insurance
VIII. Medical Fitness Certificate
IX. Photo of the applicant
X. Current UAE Visa
XI. Letter of submission from Federal Tax Authority
XII. Provision letter from concerned authority (if needed)
3. Apply for the visa through the appropriate agencies, such as the General Directorate of Residency and Foreigners Affairs or the Federal Authority for Identity and Citizenship.
4. Pay the visa fees. The cost of a UAE Golden Visa depends on the applicant’s location and category. For 10-year visas, applicants in the UAE pay 2,800-3,800 AED, while those outside pay 3,800-4,800 AED. There are also additional costs like health check-up fees, Emirates ID processing fees, health insurance, and a 150 AED application/service fee.
5. Be patient while the visa application is in process. The processing time may vary depending on several factors, such as the visa type, the application’s completeness, and the volume of applications being processed. However, the process can generally take a few days to several weeks.
It is significant to remember that while the application procedure can be lengthy, the advantages of holding a UAE Golden Visa make it worthwhile to reside in a luxury villa in Dubai.
Finally!
Now you know why UAE Golden Visa is a game-changer for foreign investors looking to invest in Dubai’s real estate market. So leverage the opportunity while you can. It provides long-term residency in the UAE, tax benefits, and the freedom to travel without a visa. With the right documentation and eligibility criteria, applying for a UAE Golden Visa can significantly benefit your investment plans.
Hopefully, Purple Square Feet’s guide to UAE Golden Visa helped you get all the information. If you’ve any further questions regarding UAE Golden Visa, Villas for Sale in Dubai, or any other real estate-related queries about buying a Villa in Dubai or selling property in Dubai, please leave them in the comments below.
