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UAE Golden Visa
The United Arab Emirates (UAE) comes across as a leading epicenter for business, innovation, creativity, and talent that draws a range of individuals and enterprises from all across the globe. These enterprises and individuals are given a chance to opt for a long-term residency program with the help of a UAE Golden Visa. This visa is specifically made to attract investors, entrepreneurs, professionals, and other talents to the nation. In addition to that, this visa offers a range of benefits such as family sponsorship, investment in the UAE, and more.
Hisab Taskmaster CAdvisors, a leading business advisory firm in the UAE, helps individuals as well as companies to acquire a UAE Golden Visa. Our experts provide key insights into the visa processing, requirements, and more to make sure that you do not face many hurdles. With us, the comprehensive process of applying for a Dubai Golden Visa is simplified and hassle-free. Partner with us to obtain this visa and make the most of Dubai’s flourishing economy.
What is a UAE Golden Visa?
The UAE Golden Visa is a type of long-term residency visa that allows foreigners to live, work, and study in the UAE for 5 or 10 years. They also have an option to renew this visa. As compared to other visas that are usually related to a job or a company, this Dubai Golden visa gives people the independence to stay in the UAE without the need for an employer or sponsor. This visa is launched to attract talented individuals, investors, business owners, and skilled workers in different domains. Therefore, with such initiatives, the country can grow in key areas like technology, health, education, culture, sports, and more.
Who Can Get a UAE Golden Visa?
There are two types of UAE Golden visas, which are primarily based on their duration. Each of them has its own rules and conditions:
1. 10-Year UAE Golden Visa
You may qualify for a 10-year Golden Visa if you are:
- An investor who puts at least AED 10 million into the public sector
- A highly skilled person with talents, such as:
- Doctors
- Scientists
- Inventors
- Experts in culture or the arts
- Professionals in computer programming, electronics, electrical, or biotechnology engineering.
2. 5-Year UAE Golden Visa
You may be eligible for the 5-year visa if you are:
- Being an investor in property means that you have bought real estate in the UAE.
- An entrepreneur with a current business that has a minimum capital of AED 500,000.
- An outstanding student who has either:
- Scored at least 95% in high school (public or private).
- A university GPA of at least 3.75, from a school in or outside the UAE after graduation.
Benefits of the UAE Golden Visa
Golden Visa Dubai comes across with a range of benefits. A person or an entity that holds a UAE Golden Visa can experience key benefits like:
1. Tax Benefits
With the help of a UAE Golden Visa, you need to pay any income tax, inheritance tax, or tax on capital gains. Corporate profits are also tax-free unless your organization has an annual turnover of AED 375,000. In such cases, a 9% tax is applied, which is still lower than in many nations.
2. Open a UAE Bank Account
You can experience the simplified opening of bank accounts in the UAE. This applies to different currencies such as US dollars, euros, or dirhams. These accounts are useful as you can save money and make international transfers.
3. Easy Residency Process
Applying for a golden visa in Dubai is usually an easier process as compared to other visas. You do not need a job or a sponsor to get the visa. You will first receive a 6-month entry visa, which allows you to come to the UAE and complete the residence steps. When you have your visa in hand, you don’t have to live in the UAE full-time to keep your residency active.
4. Chance for Citizenship
The Golden Visa can help you get UAE citizenship after living in the country for 30 years. However, some people might get citizenship before if they provide exceptional services to the country. In addition to that, a UAE passport allows you to travel to 176 countries without a visa, including countries in the Schengen area, the UK, and Canada.
5. Family Visas
With the help of the UAE Golden Visa, main applicants can sponsor their spouse and children to get long-term visas too. Parents of the visa holder can get a 1-year residence visa.
Documents Needed to Acquire a UAE Golden Visa
To acquire a UAE Golden visa, you need to gather the following documents:
- A passport with a validity of at least six months
- Valid health insurance for the applicant and their family
- Proof of family relationships, such as birth certificates, marriage certificates, and more.
- A recent passport-sized color photo with a white background
- A current UAE residence permit
- An Emirates ID card copy
How to Apply for the UAE Golden Visa
The steps to apply for the Golden Visa entirely depend on the category you fall under, such as investor, student, or professional. With the help of experienced professionals from Hisab Taskmaster CAdvisors, you can simplify the application process and relieve your stress. Here is a complete procedure:
1. Submit an Online Application
Go to the UAE government’s official visa website or a portal depending on your category. Now, it’s time to provide your personal details and submit all required documents related to your qualifications, work, or investment.
2. Prepare Your Documents
Documents needed will depend on your situation, but usually include:
- Proof of investment
- Academic degrees
- Evidence of achievements
- Medical and legal documents
3. Wait for the Application Review
After you have submitted your documents, the authorities will carefully check your background, verify your documents, and make sure everything is accurate. This comprehensive process can take a few weeks.
4. Receive Your Visa
After your application is approved, you will get your UAE Golden Visa. You will also be able to sponsor family members if needed.
How to Maintain Your Residency Visa?
Here are some key obligations that you need to remember to maintain your UAE golden visa residency. These include:
- Visitation requirement: It is important to visit the UAE at least once every 6 months so that your visa remains valid. This is only valid for a 2-year investor visa; golden visa holders are exempt from this.
- Ownership: Make sure that your property value continues to fulfill the minimum threshold within the needed amount of time. For example, AED 750,000 for a 2-year visa is needed and AED 2 million for a 10-year visa is needed.
How to Avoid the Risks of Visa Revocation?
Here is how you can avoid visa cancellation:
- Selling property: Your 2-year residency visa will be canceled if you sell your property. For 10-year Golden visa holders, you have to retain the acquisition for at least 2 years to be able to sell it. If you wish to renew your Golden visa, you are required to acquire other pieces of property valued at 2 million AED or more.
- Failure to meet criteria: If you are unable to provide updated proof of income or missing health insurance renewals, your visa might get canceled.
How Hisab Taskmaster CAdvisors Can Help?
Hisab Taskmaster CAdvisors is your trusted business advisory firm in the UAE. Our experienced professionals support individuals and enterprises in getting the UAE Golden Visa in a simplified manner. With a profound understanding of comprehensive processes and requirements for each category, we help you prepare and submit the right documents in front of the authorities. We also assist in getting family visas, health insurance, and setting up bank accounts. Partner with us to get comprehensive benefits of the UAE’s compelling opportunities and enjoy a secure and long-term stay.
