Introduction to the UAE Golden Visa

As global geopolitical shifts unfold, turbulence follows, and our familiar world becomes unsettled. All the while, the United Arab Emirates remains strong, attracting wave after wave of tourists and expats from around the world. Its stable economy and favorable government policies make it one of the most attractive places to live and a reliable safe haven for those who need one. So, if you’re looking for a place to secure your future, move your family, and save your finances, the UAE may be the right choice.

Apart from a regular residency visa with its numerous advantages, the UAE government offers a special residency program that takes these advantages a step further. Intended to attract high-tier professionals, businessmen, and investors to the UAE, the Golden Visa provides a set of unique benefits that will make your life in the country easier, more convenient, and more enjoyable. In this article, let’s explore the details of what the UAE Golden Visa can offer its potential holders.

What is the Golden UAE Visa?

To begin with, let's clarify what a Golden Visa is and how it differs from a regular residence visa.

A Golden Visa is a type of long-term visa valid for 10 years, available to certain categories of individuals: investors, entrepreneurs, managing/executive directors, highly skilled professionals such as doctors and engineers, as well as people with outstanding abilities and significant achievements, including scientists, athletes, actors, and talented students. Each of these categories has specific criteria that they must meet to be eligible for a Golden Visa in Dubai. We cover these criteria in detail in our comprehensive guide to the Golden Visa 2024. In this article, we want to specifically discuss UAE Golden Visa major benefits.

A standard visa in UAE is issued for 2 years. Such a visa can be granted to business owners who set up a company in free zones or on the mainland in the UAE and want to exercise their right to apply for the residency. After the visa validity expires they are allowed to renew it for another 2-year period.

You can also obtain a two-year visa by investing in real estate for a minimum amount of 750,000 AED, officially securing employment visa in the Emirates, registering as a freelancer, and through other methods.

Benefits of UAE Golden Visa

1. Increased visa validity period.

Unlike a typical UAE residency visa, the Golden Visa is issued for 10 years and entitles its holder to free entry and stay in the UAE over that time. The prolonged validity of the Golden Visa makes it a long-term residence option with a high degree of flexibility.

Also, the Golden Visa applicant is eligible for a multi-entry visa for six months, instead of the standard entry permit with a validity of up to 90 days, in order to have enough time to complete the visa application process hassle-free.

2. Family and household staff visa sponsorship.

Holding a Golden Visa provides UAE residency status to not just you but also your family members. In addition, it allows for visa sponsorship of your domestic helpers, such as nannies, drivers, butlers, etc., granting an opportunity to move to the UAE with both your family and household staff.

3. Advanced traveling opportunities.

Another factor that sets the UAE Golden Visa apart from other types of visas, is the ability to stay outside of the UAE for an extended period of time. The normal 2 years residency visa requires you to fly into the country once every six months to avoid your residency being annulled. The Golden Visa allows you, your family members, and household staff to stay outside of the UAE for as long as you want without the urgency to come into the UAE

4. No sponsorship requirement.

As opposed to most work visas, the Golden UAE Visa requires no employer sponsorship. This allows qualified and skilled specialists to apply for this visa independently without being conditioned to already having a job and an employer in the Emirates in advance.

However, individuals applying for the Golden Visa through the skilled worker category such as doctors, engineers, scientists are required to obtain a no objection letter from their employer in the UAE, for example in Abu Dhabi or Dubai, as a part of the process requirements.

5. Tax-related benefits.

The Golden Visa status comes with significant tax advantages. UAE residents enjoy zero personal income tax, capital gain tax, taxes on gifts, real estate income, inheritance, etc., allowing for considerable saving of funds, as well as an overall tax-efficient environment for businesses.

6. Banking opportunities.

The Golden Visa makes its holders eligible to open accounts at prestigious UAE banks with the ability to hold deposits in major world currencies and use them for international payments. Here are some of the banking privileges holders of the Golden Visa get:

Investors in investment funds can place deposits (2 million dirhams for 2 years) in personal accounts rather than through the central bank or national funds, earning a good income. After 2 years, the deposit can be withdrawn without affecting the residence visa.
Some banks offer Golden Visa holders reduced mortgage rates and attractive deposit rates.
With a Golden Visa, managing finances is easy with the help of an app or mobile banking – approval for various financial services is almost instantaneous.
Fast transfers of any amount to other countries are possible, provided UAE laws are complied with.
Using banks’ cards to pay and withdraw cash anywhere in the world.

7. Free access to the Esaad program.

Since 2022, Dubai's Esaad discount program, which used to be available exclusively to UAE’s government employers, now includes holders of the Dubai Golden Visa. With an Esaad privilege card, UAE residents gain access to various discounts and bonuses at 7,000 of local and international establishments, allowing for significant money saving. The sectors where discounts are available with the Esaad card include:

Dining
Jewelry
Fashion and beauty
Hotels
Airlines
Healthcare
Education, etc.

The Esaad card is recognized in 92 countries worldwide, which is a nice bonus for Golden Visa holders who travel frequently.

8. Access to UAE’s education and healthcare.

The UAE and Dubai in particular are famous for their world-class educational institutions with internationally recognized curricula and top-notch healthcare facilities. Furthermore, Golden Visa holders can take advantage of considerable discounts with healthcare providers through the Esaad program.

9. Business and investment opportunities.

The UAE is internationally famous as the Middle East’s top business hub and one of the best places for business and investments in the world. Under the UAE Golden Visa program, investors and entrepreneurs can enjoy numerous opportunities for growth in the country’s various economic sectors, as well as general tax reliefs and other bonuses provided by the UAE government policies.

For business people with a Golden Visa, a local sponsor is not required to open a company.
The company is fully owned by the owner, allowing you to manage and dispose of the profits as you wish.
Personal taxes, such as income tax, capital gains tax, property rental tax, or investment tax, are not applicable.

10. Range of eligibility options.

The most common ways of receiving a Golden Visa are:

through investing in the UAE public or real estate sectors in the amount of AED 2 million (eligible for a 10-year visa)
by introducing an innovative business project with an esteemed value of AED 500,000 (eligible for a 10-year visa).

However, there are other ways of gaining the Golden Visa status, as it can be applied for by outstanding specialized foreign talents in various fields of expertise, outstanding students and athletes, humanitarian work pioneers, and frontline heroes.

11. Freehold property ownership.

Further cementing its holder’s ties to the UAE, the Golden Visa status allows for purchasing real estate in the country with full freehold ownership. This is a major benefit for individuals interested in tapping into investments in the local property market, which has famously grown in recent years and is considered an extremely lucrative opportunity for foreign investors.

12. Retirement planning options.

For those wishing to retire in the UAE, the Golden Visa program also offers retirement options. It is especially beneficial for individuals seeking to spend their golden years in a country renowned for its high living standards, advanced infrastructure, excellent security, warm climate, and cultural diversity. The main requirements for retirees wishing to obtain a long-term Dubai visa valid for 5 years are:

ownership of real estate in the UAE valued at least 1 million dirhams;
age of no less than 55 years;
deposit in a UAE bank for 3 years in the amount of at least 1 million dirhams.

Summing up

The UAE Golden Visa program offers a plethora of advantages, making it an attractive option for global citizens seeking long-term residency in the Emirates. This visa provides an extended validity period for 10 years, eliminating the hassle of frequent renewals. Holders can sponsor their family members and even household staff, facilitating cohesive family living arrangements.

One of the standout benefits is the freedom to travel extensively, with fewer restrictions compared to standard visas. Additionally, the Golden Visa provided by the UAE does not require a local sponsor, offering autonomy and flexibility to the visa holders. Tax-related UAE Golden Visa benefits further sweeten the deal, as UAE does not impose personal income taxes, making it a haven for financial planning and wealth management.

Banking opportunities abound, enabling seamless financial transactions and investments in the thriving UAE economy. Access to the Esaad program provides various social benefits, fostering community integration and support.

Golden Visa holders also enjoy access to world-class education and healthcare facilities, essential for families and individuals planning to settle long-term. Business and investment opportunities are abundant, supported by a stable economic environment and favorable regulatory frameworks.

Moreover, the program offers diverse eligibility criteria, accommodating professionals, investors, entrepreneurs, and retirees alike. Property ownership right to freehold property is another perk, empowering holders to invest in UAE real estate confidently. For retirees, the Golden Visa in UAE offers attractive retirement planning options, ensuring a secure and comfortable future in the vibrant cities of Abu Dhabi and Dubai.

FAQ

How does a Golden Visa differ from a regular residence visa?

Unlike standard UAE residence visas, which typically last for 2 years and require renewal, the Golden Visa offers a significantly longer validity period of 10 years. It grants holders the freedom to enter and exit the UAE multiple times without losing their residency status.

Who is eligible for a Golden Visa in the UAE?

Eligibility criteria vary depending on the category of applicant:

Investors: Must invest in UAE public or real estate sectors with a minimum investment of AED 2 million for a 10-year visa.
Entrepreneurs: Must introduce an innovative business project valued at AED 500,000 or more for a 10-year visa.
Executives, professionals, and individuals with exceptional talents: Must meet specific criteria based on their profession or achievements.

How can I apply for a Golden Visa in the UAE?

Applications must be submitted through official channels, demonstrating eligibility based on the specific category. Detailed documentation and compliance with UAE regulations are essential for a successful application.

Select the desired visa category, such as investors, real estate investors, entrepreneurs, specialized talents, etc.
Gather required documents.
Visit an Amer office to initiate the application process.
Pay fees.
Await approval.
Cancel current visa.
Submit application.
Receive Golden Visa.

Business consultants in Dubai will assist you with the application procedure, tailor solutions to meet your specific requirements, and ensure a hassle-free process to achieve your desired outcome.

What are the advantages of the Esaad program for Golden Visa holders?

The Esaad program offers discounts and benefits across various sectors including dining, fashion, hotels, airlines, and healthcare. It enhances the lifestyle and financial savings for Golden Visa holders and their families.

Can Golden Visa holders own property in the UAE?

Yes, Golden Visa holders are eligible for freehold property ownership in the UAE, allowing them to invest in local real estate without restrictions.

How does the UAE Golden Visa support retirement planning?

For retirees, the Golden Visa provides options such as property ownership and financial deposits, ensuring a secure and comfortable retirement in the UAE.

Top 12 UAE Golden Visa Benefits

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