29 - 04 - 2022
The UAE has become one of the most attractive investment hubs in the world. In fact, it even ranked as the 15th biggest recipient of foreign direct investments in 2020 according to the UN Conference on Trade and Development. Aside from that, the Global Competitiveness Report 2019 recognized it as the 25th most competitive economy in the world, considering its strong financial reserves, healthy international relations, and consistent focus on infrastructure development and digital transformation.
Given how robust and stable the economy of the UAE is, and with its drive to continuously push for innovation, many investors and innovators around the world have chosen to work in and with the country. To retain its innovative population and give back to them as they propel its success, the UAE government introduced a new pathway for long-term residence visa holders known as the Golden Visa.
What is the UAE’s Golden Visa?
The UAE Golden Visa allows foreign nationals to live, work, and study in the country for a period of ten years, without the need for a national sponsor and with 100% business ownership allowance on the country’s mainland. Its grant is subject to certain conditions, and may be renewed as long as the recipient continues to meet them. Moreover, it may only be availed of by specific categories of applicants — investors, entrepreneurs, specialized talents and researchers in various fields of science and knowledge, and highly talented students with promising scientific capacities — but may be extended to include business partners, executive directors, spouses, and children.
How to Avail
To qualify for a Golden Visa, foreigners must be nominated by senior Emiratis or government bodies, or apply and register their interest on the website of the UAE’s Federal Authority for Identity and Citizenship. In the latter case, they will be required to complete an online form in which they must provide their personal information and select the category where they wish to be nominated. Applicants who are outstanding pupils and university students from inside and outside the country must also show proof that they have obtained an average rate of at least 95% and a GPA of no less than 3.75 or its equivalent, respectively.
Within 30 days, they will receive an email informing them of the outcome of their application, and should it be approved, they will be able to begin uploading their visas and other documents.
Make Your Application Easier
If you think you are qualified to avail of the UAE’s Golden Visa, reach out to PRO service providers to help you process your application with ease. To get started, contact the experts at PerfectPlus for more information.