Everything You Need to Know About UAE Golden Visa and Its Benefits
By Space Coast Daily // March 16, 2023
There are many countries where you can live a bright and unforgettable life and open a business that will bring considerable income.
The list of the richest countries in the world includes the UAE. You can see luxury in all its manifestations at every step. But the most interesting thing is that the locals can see with their own eyes the prosperity and economic stability of the country. It is not surprising – the government quickly raised the quality of life of its citizens due to the oil fields.
Many people dream about immigration to this paradise. However, the state there cares about the population, providing a comfortable stay for natives and foreigners. It is also worth noting the lack of crime, high level of security, high wages, and affordable real estate prices.
You need the Dubai Golden Visa to start living and running a business freely in the country. This program is in great demand, and thousands of people have already taken advantage of it. It does not require age restrictions; a citizen of any country can apply.
What is the UAE Golden Visa?
The first thing to specify is that it is permission to live in the selected country for ten years. The program began in 2019, and in April 2022, it became known about the relaxed conditions. The minimum investment amount was reduced, and the list of recipients was expanded. Such an initiative opens up the possibility for foreign nationals to reside in the country without a sponsor.
The following categories of people can hold a Dubai golden visa:
- financial investors;
- CEOs and executives;
- financial investors;
- scientists and doctors of science;
- persons making an investment in real estate.
When this visa expires, the foreigner has the opportunity to extend it. But it is real only if the conditions under which it was obtained are preserved. For example, a person must still run a company or own real estate.
Benefits of Dubai Golden Visa you should know about
The list of the main advantages of this program is extensive. If you have decided to participate in it, you need to know about them in detail:
- The candidate’s ability to obtain a permit for the required number of persons. They must meet the requirements and not be on the list of UAE citizens. We are talking about people that the depositor requires as domestic staff.
- Freedom of movement. A golden visa in UAE gives the right to live in the country. Its holders are not obliged to stay there permanently. You can leave and enter the territory as much as you need. You can easily visit your loved ones or travel for business purposes.
- Tax optimization. There is no income, property, or dividend tax in this country. All financial prospects are available to residents. In addition, the property is also tax-free.
- High level of medicine. Depositors and their closest relatives have the full right to receive treatment in local clinics. The health system there, by the way, deserves the highest praise. The UAE is generally considered one of the most popular areas of medical tourism.
The leading UAE golden visa benefits also include the ability to educate the applicant’s children in international schools by the best standards. Therefore, the attractiveness of the program is undeniable. You and your family members will benefit from it.
Eligibility Criteria for obtaining UAE Golden Visa
The first thing you should know is that it takes a minimum of 2 months and a maximum of 3 months to get what you want. It is necessary to open and run a business, having in stock 2 million dirhams, which is equal to 544,500 dollars.
There are several requirements for UAE golden visa:
- the investor must be of legal age, pass a test to confirm the legality of income and absence of problems with the law;
- it is necessary to undergo a medical examination in the selected country, which should show the absence of serious illnesses;
- you must have at least $ 136,000 in the capital – it is proposed to invest in businesses, real estate, and funds;
- it is allowed to include the person with whom the marriage is officially registered, as well as unmarried children can be included in the application.
You also need to know precisely what categories of people are eligible to participate in the program. Find out in advance if you are one of them.
How to Apply for the desired Dubai Golden Visa
You must go through a preliminary security check to become its owner, which takes one working day. Then, a little more time is needed to purchase and register the property while preparing the documents – all takes about seven weeks. Then, you get a temporary visa and undergo an examination at a medical institution.
Documents Required for UAE Golden Visa
It will be necessary to provide copies of passports, marriage certificates, and color photos of all who are included in the application. You also need a letter confirming the cost of what is being purchased.
Dubai Golden Visa Cost
If you choose the option that involves investing money, you will have to stock up at least 500,000 dirhams. The cost of UAE golden visa varies depending on what you invest in.
According to the expert of Immigrant Invest Zlata Erlach, there is nothing complicated in this procedure, and everything is solved quickly.