UAE Golden Visa FAQs: unlock your opportunities in the Emirates with Ocorian
The UAE Golden Visa program offers a compelling path to long-term residency in the United Arab Emirates. At Ocorian, we understand the potential of this program and can guide you through the application process. Here are some frequently asked questions about the UAE Golden Visa:
What is the UAE Golden Visa?
The UAE Golden Visa is a long-term residence permit, valid for 10 years (5 years for Retirement Golden Visa), that allows foreigners to live, work, and study in the UAE without requiring a local sponsor.
Who is eligible for the UAE Golden Visa?
Several categories of individuals qualify for the Golden Visa, including:
- Investors: Those investing in real estate, financial deposits, or businesses in the UAE.
- Entrepreneurs: Owners or partners of UAE-based start-ups.
- Talented individuals: Skilled professionals like scientists, doctors, engineers, artists, and researchers.
- Senior Management & C-level executives: Individuals holding senior positions in companies.
- Outstanding Students & graduates: Top graduates from prestigious universities.
- Humanitarian pioneers: Individuals with significant contributions to humanity.
What are the benefits of obtaining a UAE Golden Visa?
- Long-term residency without a sponsor.
- Freedom to travel outside the UAE for extended periods.
- Sponsorship of family members and domestic helpers.
- Access to healthcare, education, and other government services.
- Eligibility for a UAE Tax Residency Certificate.
- Automatic eligibility for a UAE driver's license (subject to conditions).
How can I apply for the UAE Golden Visa?
The application process varies depending on your qualification category. However, it often involves:
- Submitting a comprehensive profile highlighting your achievements.
- Providing financial documents like bank statements and investment proofs.
- Sharing employment or business information (if applicable).
- Securing health insurance coverage.
What are the investment requirements for the UAE Golden Visa?
- Real estate: Invest at least AED 2 million in property (mortgaged and off-plan properties qualify).
- Financial deposit or investment capital: Deposit or invest a minimum of AED 2 million in an investment fund, existing or new business, or a UAE-licensed bank.
- Annual tax payment: Own a business that pays annual tax of at least AED 250,000 to the UAE federal government.
- Entrepreneur: Establish a UAE-based start-up generating annual revenue of at least AED 1 million.
- Retirement: Meet one of the following criteria:
◦ Receive a monthly income of AED 15,000.
◦ Have AED 1 million in a 3-year fixed deposit (FD) in a UAE institution.
◦ Invest AED 1 million in an unmortgaged or mortgaged property.
Can I sponsor family members under the Golden Visa?
Yes, Golden Visa holders can sponsor their spouse, children, and, in some cases, parents and siblings, subject to certain conditions and approval by UAE immigration authorities. There are no restrictions on the number of domestic helpers you can sponsor.
What happens if I lose my job while holding a Golden Visa?
The visa typically remains valid until its expiry even if the holder loses their job. However, you might need to notify the authorities and fulfil additional requirements to maintain your visa status.
Is it possible to switch employers or start a business while on a Golden Visa?
Yes, Golden Visa holders can switch jobs or start a business in the UAE. It's important to ensure compliance with all regulatory requirements and inform immigration authorities.
What are the residency requirements for Golden Visa holders?
Golden Visa holders can stay abroad indefinitely without affecting their residency status. However, we recommend returning to the UAE at least 90 days before the 10-year expiry date to initiate renewal procedures.
Do Golden Visa holders require health insurance?
Yes, comprehensive health insurance is mandatory for each Golden Visa holder.
How can Ocorian help?
The UAE Golden Visa program offers a unique opportunity to live, work, and invest in a dynamic and prosperous nation. At Ocorian, our team of experts can assist you throughout the application process and guide you towards a successful future in the UAE.
Contact us today to discuss your eligibility and explore your options.