The United Arab Emirates is one of the most fascinating countries in the world. The crushing majority of its population, almost 90%, is composed of foreign nationals, revealing the country’s harmonious balance between natives and expats. It does not surprise anyone to discover that it has become one of the world’s most highly sought-after destinations, whether for tourism, study, or work. Its cosmopolitan lifestyle, high and varied financial opportunities, and tax benefits are only some of the reasons that truly depict the UAE’s desirability.
The UAE Golden Visa Program
For most people, relocating to the UAE requires a sponsored visa, either by an Emirati national or an Emirati company. However, high net-worth individuals can bypass this requirement and acquire a self-sponsored visa for residency purposes and become able to move to Dubai without a job. These visas relax the entry and residency permits for a wide variety of people, including, but not limited to, those simply wanting to enjoy a luxurious lifestyle, retirees seeking to enjoy their golden years, highly skilled workers looking to place their talents to good use, to a myriad of others. Self-sponsored visas arise as the UAEs investment immigration solutions to enhance its attractivity, professional landscape, competitiveness, and job market flexibility. Moreover, several visas that previously mandated sponsorship no longer require it. The application process has also been streamlined.
The UAE Golden Visa stands out among the self-sponsored visas, offering long-term residency in the country plus the ability to work and study. Holding the UAE Golden Visa allows you to make cities such as Dubai and Abu Dhabi your new home for up to 10 years. There are many avenues eligible for the UAE Golden Visa, including investment and entrepreneurial ventures, if you are an outstanding talent in specialized fields, a humanitarian worker, or a frontline hero.
UAE Golden Visa: Property Investment Options
Real Estate offers a viable path to unlock the coveted UAE Golden Visa. If you own a property evaluated at AED 2 million (roughly USD $545,000), the long-term residency in the UAE is within reach. Being a residency holder, you will have many other benefits, including the ability to sponsor visas for your family and stay outside the UAE for more than 6 months every year.
February 2024 Update: The UAE is set to simplify its Golden Visa Real Estate program. Up until now, a down payment of 50% has been required upfront to apply for the UAE Golden Visa, meaning investors had to pay a minimum of AED 1 million to kickstart the residency acquisition process. However, this requirement is going to be dropped soon, facilitating the process even further, and opening the country to more worldwide investors.
Property investment at a lower amount, AED 750,000, is also an option in Dubai through the Land Department. This option offers a residency visa for 2 years, as opposed to the 10 years enabled by the UAE Golden Visa.
Alternative Self-Sponsored Visas
Other types of self-sponsored visas include the Virtual Work residency visa, also known as the Remote Work or Digital Nomad visa. This visa enables foreign nationals to live in the UAE while working for a foreign company if all other requirements are fulfilled.
Another example is the Retirement residency visa, available for retirees seeking to enjoy all the benefits of living in the UAE for five years, with the possibility of renewal. People who have worked for at least 15 years, whether in the UAE or abroad, or who are 55 years or older are eligible to apply if they meet certain criteria. The Green Investor residency visa is also an interesting option for those seeking to establish commercial ventures in the UAE. Issued for two years, this visa will require approval from the respective authorities and proof of investment.
Investment Visa: Your Trusted Golden Visa Partner
All the self-sponsored visas will require providing an extensive list of documents, such as in-color photographs, copies of passports, proof of financial means, a medical fitness certificate, a clean criminal record, and health insurance, among others. While sponsorship may no longer be needed in some cases, the process of navigating the requirements and obtaining the UAE Golden Visa remains complex. To mitigate this, Investment Visa provides advisory on Golden Visas in countries from all over the world.
Led by a team with nearly three decades of experience, Investment Visa prides itself on its one-of-a-kind personalized service, which completely caters to the needs of our partners and is executed to ensure a successful journey. Its reach extends the entire globe, where Golden Visas and investment immigration programs are found, including the UAE.
The emergence of self-sponsored visas in the UAE reveals the country’s commitment to becoming the premier destination worldwide for high net-worth individuals from all sorts of backgrounds. From expats seeking to invest and obtain a return, to digital nomads on a quest for new adventures to retirees just on the lookout to enjoy life, the cosmopolitan, luxurious lifestyle of the UAE is now easier. With Investment Visa’s help, it is effortless.
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