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6 Benefits of UAE Golden Visa: Real Estate and Residency Perks

6 Benefits of UAE Golden Visa: Real Estate and Residency Perks

Aug 1, 2024

by

QUBE Development

Dubai, Immigration, Residency

If you're a foreign national looking to live and work in the UAE, the Golden Visa UAE program may be the solution you're looking for.

 

This long-term residency program offers a range of benefits and privileges to eligible applicants, including investors, entrepreneurs, students, and humanitarians.

One of the key advantages of the Golden Visa UAE is the ability to live and work in the country for up to 10 years without the need for a local sponsor. This gives you greater freedom and flexibility to pursue your personal and professional goals in the UAE.

 

In addition, the program offers visa-free travel to a number of countries, making it easier to explore new destinations and expand your business network.

Investing in property is a particularly attractive route to obtaining the Golden Visa. The UAE's booming real estate market provides lucrative opportunities for investors seeking high returns and long-term residency benefits. 

By investing in residential or commercial properties, you not only secure a stable and profitable investment but also gain access to the exclusive privileges of the Golden Visa.

Let’s dive into this article to discover how this golden ticket can change your life with various benefits.

Understanding the Golden Visa Program (Eligibility and Application Process)

To be eligible for the Golden Visa UAE, you must fall under one of the following categories: 

  • Investors
  • Entrepreneurs
  • Scientists
  • Outstanding students and graduates
  • Humanitarian pioneers
  • Frontline heroes

The eligibility criteria vary based on the applicant's category, but generally, it encompasses those who have shown exceptional talents or made significant contributions in their respective fields.

  • For real estate investors the value of the property should not be lower than 2 million dirhams.
  • For investors, the minimum investment required is AED 10 million, and the investment must be retained for at least three years. 
  • Entrepreneurs must have a previous project with a minimum value of AED 500,000 or have the approval of an accredited business incubator in the UAE. 
  • Scientists must have a Ph.D. degree from a reputable university and must have at least ten years of experience in their field of specialization.
  • For outstanding students and graduates, the applicant must have a minimum GPA of 3.8 or higher, and the graduate degree must be obtained from one of the top 100 universities in the world. 
  • Humanitarian pioneers and frontline heroes must have made significant contributions in their respective fields, and their achievements must be recognized and documented.

Breaking Down the Application Process

The application process for the Golden Visa UAE is straightforward. 

You can apply for the visa through the Federal Authority for Identity and Citizenship (ICA) website or through the approved service centers. 

In order to apply you will need to provide the necessary documents, such as a valid passport, proof of residency, and evidence of meeting the eligibility criteria.

Once your application is approved, you will receive a six-month entry visa, which you can use to enter the UAE and complete the residence issuance process. The residence visa is valid for ten years and is renewable.

It is important to note that the Golden Visa UAE is a self-sponsored visa, which means that you do not need an employment sponsor. 

Additionally, the visa allows you to stay outside the UAE for more than the usual restriction of six months.

Comprehensive Benefits Overview

Visa Privileges and Rights

As a holder of the Golden Visa UAE, you will enjoy numerous privileges and rights that are not available to other visa holders. 

One of the most significant benefits of the Golden Visa UAE is that it provides you with long-term residency in the UAE for up to 10 years. This means that you can live, work, and study in the UAE without worrying about the expiry of your visa.

Moreover, the Golden Visa UAE also grants you the right to sponsor your family members, including your spouse, children, and parents.

 

This is a significant advantage, as it allows you to keep your family close and enjoy the benefits of living in the UAE together.

Another privilege of the Golden Visa UAE is that it exempts you from the need for a local sponsor. This means that you can start your own business or work for any company in the UAE without the need for a local sponsor. 

This is a significant advantage, as it allows you to have complete control over your career and business.

Family Inclusion and Advantages

The Golden Visa UAE also offers numerous benefits for your family members. As mentioned earlier, you can sponsor your family members, including your spouse, children, and parents to live with you in the UAE. 

This means that your family can enjoy the same benefits as you, including long-term residency, access to healthcare, education, and other services.

Moreover, the Golden Visa UAE also offers discounts on schooling for your children, making it easier for you to provide them with quality education. 

Additionally, your family members can also enjoy the same visa privileges as you, including the right to work and study in the UAE.

From long-term residency to the right to sponsor your family members, the Golden Visa UAE provides you with the freedom and flexibility to live, work, and study in the UAE with ease.

Economic and Investment Opportunities

The UAE's Golden Visa program offers a range of economic and investment opportunities to foreign investors, entrepreneurs, and talented individuals. Here are some of the key benefits of the program.

Boosting Economic Growth

The Golden Visa program is designed to attract foreign investment and talent to the UAE, which in turn helps to boost the country's economic growth. 

By offering long-term residency visas to investors and entrepreneurs, the UAE is able to encourage foreign businesses to establish themselves in the country and contribute to its economic development.

Real Estate and Business Opportunities

The Golden Visa program also presents a range of real estate and business opportunities for foreign investors. With the program, investors can enjoy long-term residency in the UAE, which allows them to establish businesses and invest in the country's booming real estate sector.

The real estate sector in the UAE has seen significant growth in recent years, with a number of high-profile developments attracting investors from around the world. 

By investing trending off plan properties such as Cubix or Midora, foreign investors can enjoy strong returns on their investment while also contributing to the UAE's economic growth.

Midora Residencies by QUBE

Similarly, the Golden Visa program also presents a range of business opportunities for foreign entrepreneurs. 

By establishing a business in the UAE, entrepreneurs can benefit from the country's favorable business environment and access to a range of markets across the Middle East and beyond.

Sector-Specific Benefits and Industry Impact

Healthcare Sector Advantages

If you are a healthcare professional, the Golden Visa UAE offers several benefits that can help you grow your career. 

The UAE has invested heavily in its healthcare sector in recent years, making it one of the most advanced in the region. Infrastructure such as:

  • Al Jalila Children’s Specialty Hospital and Medcare Women & Children Hospital in Dubai
  • Emirates Health Services (EHS), took on much of the responsibility for building the capacity of the local healthcare sector. 
“Our strategy for developing DHCC is aligned with Dubai’s economic vision to elevate the emirate’s position on the Global Competitiveness Index,” 
Jamal Ahmad Abdulsalam
‍CEO of Dubai Healthcare City Authority (DHCA).

As a result, healthcare professionals in the UAE have access to state-of-the-art facilities and equipment, as well as opportunities to work with some of the best medical professionals in the world.

Moreover, the Golden Visa UAE allows healthcare professionals to work in the UAE for an extended period, giving them the time they need to establish themselves in the industry.

 

This can be particularly beneficial for doctors and nurses who want to build a long-term career in the UAE.

Innovation and Technology Growth

The UAE is known for its commitment to innovation and technology, and the Golden Visa UAE reflects this. 

The visa is designed to attract entrepreneurs, scientists, and other innovators to the UAE, with the aim of growing the country's technology sector.

As a result, if you are an entrepreneur or innovator, the Golden Visa UAE can offer you several benefits. 

For example, you will have access to funding and resources to help you start and grow your business. Additionally, you will be able to work with other like-minded individuals and companies, which can help you form valuable partnerships and collaborations.

Area 2071 is a  unique ecosystem that nurtures global talents to start and grow their business in the UAE. Members of Area 2071 have access to a network of strategic partners, entrepreneurs and investors.

Source: UAE Business Incubators

Overall, the Golden Visa UAE offers several sector-specific benefits and has the potential to have a significant impact on industries such as healthcare and technology.

Future Trends and Policy Developments

As the UAE continues to attract investors and entrepreneurs from around the world, it is expected that the Golden Visa program will continue to evolve and expand. 

Trends in Residency Programs

The government has already made changes to the program, such as allowing property investors to qualify for a 10-year visa by owning property worth AED 2 million or more.

It is possible that additional investment categories will be added in the future, providing more opportunities for individuals to obtain a Golden Visa.

Policy Developments and Revisions

In terms of policy developments, the UAE government has shown a commitment to attracting and retaining top talent. In 2021, they launched the "Retire in Dubai" program, which offers long-term residency to retirees over the age of 55 who meet certain financial criteria. 

It is possible that similar programs will be developed in the future, further demonstrating the government's commitment to attracting and retaining skilled individuals.

Another potential policy development is the expansion of the Golden Visa program to include family members of visa holders. 

Currently, only the visa holder is eligible for the benefits of the program. However, there have been discussions about allowing family members to also obtain a Golden Visa, which would provide a significant incentive for families to relocate to the UAE.

Overall, the future of the Golden Visa program in the UAE looks bright. With a commitment to attracting and retaining top talent, the UAE is well-positioned to continue to be a top destination for investors and entrepreneurs from around the world.

Frequently Asked Questions

What are the benefits of the Golden Visa for family members in the UAE?

The Golden Visa program in the UAE offers benefits not only to the primary visa holder but also to your family members. 

Spouses and dependent children can obtain residency permits that are valid for the same duration as the primary visa holder. 

This means that your family can live, work, and study in the UAE without the need for a separate visa. Additionally, family members of Golden Visa holders can also benefit from visa-free travel to other countries.

What are the eligibility criteria for obtaining a UAE Golden Visa?

The eligibility criteria for obtaining a UAE Golden Visa vary depending on the category of visa. Generally, the program is open to investors, entrepreneurs, scientists, outstanding students and graduates, humanitarian pioneers, and frontline heroes. 

The specific requirements for each category can be found on the official portal of the UAE government.

How does the Golden Visa UAE facilitate visa-free travel to other countries?

The Golden Visa program in the UAE offers visa-free travel to more than 100 countries. This is because the UAE has signed agreements with these countries that allow Golden Visa holders to travel without the need for a separate visa. 

What are the financial implications of applying for a Golden Visa in the UAE?

The financial implications of applying for a Golden Visa in the UAE vary depending on the category of visa. The cost of the visa ranges from AED 500,000 to AED 5 million. 

Additionally, there may be other costs associated with the application process, such as fees for medical tests and background checks.

It is important to consult with a professional immigration advisor to understand the full financial implications of applying for a Golden Visa in the UAE.

Are there any new regulations introduced for the UAE Golden Visa in 2024?

As of 2024, there have been no new regulations introduced for the UAE Golden Visa program. 

However, it is important to stay up-to-date with any changes or updates to the program by regularly checking the official portal of the UAE government.

How can parents benefit from the Golden Visa program in the UAE?

Parents of Golden Visa holders can also benefit from the program by obtaining a long-term visa that is valid for up to 5 years. 

This visa allows parents to live with their children in the UAE and also provides them with access to healthcare and education services. The specific requirements for obtaining a parent visa can be found on the official portal of the UAE government.