People from diverse nations who have aided in the growth and development of the nation have grown to view the UAE as a warm home away from home. The Gold Visa programme was established to grant long-term residency in the UAE to a limited group of people who have made significant contributions to the country’s economic development. To advance this progress and encourage leadership and investment in the nation, the government developed the UAE Golden Visa for businesspeople. Here is all the information you require on the UAE’s Business Golden Visa.
What is the Golden Business Visa in the UAE?
Another class of long-term UAE resident cards offered through the Gold Card Visa system is the Golden Business Visa. Instead of the usual two-year visa, the Golden visa programme gives holders (entrepreneurs, investors, and extraordinary talents) long-term UAE residency for up to 5 or 10 years.
Particularly, this Business Gold Visa grants permanent residency to foreign business owners who seek to establish operations in the nation while residing in or even outside of the UAE. The applicant’s continuing compliance with the terms and conditions during each cycle of a visa renewal is a requirement for this permanent residency (5 years).
Golden Business Visa in the Uae Benefits: How Does the Golden Investor Visa Help?
In addition to making it simpler to start a business in the UAE, some significant advantages of the UAE Golden visa include:
- Long-term residency permit for their dependents (spouses, children, and parents), if certain requirements are met.
- To speed up business establishment procedures, an initial 6-month multiple-entry visa is available.
- The ability to request residency for up to 3 top business persons
- The Golden Residency can be used anywhere in the world without restriction.
- No employer or sponsor is necessary to apply for this visa.
- In the event of the death of the visa holder, family members may remain in the UAE until their permit expires.
UAE Golden Business Visa Eligibility
In order to be eligible for the UAE Business Golden Visa programme, entrepreneurs must have opened their own company at least once during their professional careers.
An entrepreneur who meets the requirements must:
- Authenticate their entrepreneurial experience
- Hold or have held a senior leadership position with a minimum worth of AED 500,000 or the majority of the shares in a startup.
- Be prepared to legally establish a business and relocate to the UAE.
- Possess a business strategy or ideas for their own firm in the United Arab Emirates
- Own a business or participate as a partner in a start-up in the UAE with a potential annual revenue of up to AED 1 million.
- Gotten the Ministry of Economy, an official business incubator’s, and other relevant authorities’ approval before beginning to develop their business idea
- Is/was a sole proprietor or a founding member of a prior initiative that sold for at least AED 7 million
Specific Criteria for a 10-year Golden Residency Visa in the UAE
To find out if you meet the requirements for the 10-year Golden residence visa, use the UAE government’s eligibility tool. You can assess your eligibility based on the requirements for the UAE Golden Visa using this tool.
People who fall into the following categories are typically qualified for a Golden Visa.
- Investors (Public/Real Estate)
- Executive Directors
- Humanitarian Pioneers
- Exceptional talents in art, culture, sports, digital technology and other vital fields
- Holders of doctorate degrees
- experts in the domains of health, business administration, information technology, law, culture, and society, as well as scientists
- engineers in the fields of biotechnology, computer engineering, electronics, programming, and electrical
- Outstanding students and graduates with expertise in Priority Educational Fields, including Early Childhood
- experts in the fields of virology, epidemiology, big data, and artificial intelligence
- Workers on the frontier who put out great effort during the COVID-19 pandemic
- Honorable contributors, supporters, and volunteers for local and global humanitarian organizations
The applicant must also meet the requirements of the Federal Authority for Identity and Citizenship, which include a health evaluation and a thorough background check, in addition to the requirements for the UAE Golden Visa described above.
It is crucial to note at this point that while you could be eligible for the Golden residency permit in UAE, that does not ensure that you will get one. A team of specialized committees has been tasked with reviewing your application, profile, and any attachments.
How to Apply for the Golden Visa in the UAE
Have questions about the UAE Golden visa application process? What you must do is as follows:
- Check out the website of the Federal Authority for Identity and Citizenship (ICA).
- Select “Golden Services” in the top category list.
- To create a “Visa- Golden Visa – Nomination Request For Golden Residence” request, scroll down.
- To begin a service, click.
- Complete your application, which requires the following information:
- Personal profile (name, visa category, nationality, gender, origin, date of birth, and more)
- Passport details (passport type, number, and expiry, etc.)
- Contact details (phone number, permanent address, country of residence, etc.)
- Professional and entrepreneurial experience
- Upload attachments
- Pay application fees
- Submit the application
Your application for the Golden resident permit programme may be reviewed in up to 30 days after it is submitted. If your application is accepted, you will receive an email with a link where you can submit the remaining paperwork for your visa. You may need to wait another 30 days for review, but after it has been accepted, you will receive an email with instructions on how to secure a UAE business visa.
You can always reapply after a 90-day period has passed if your nomination is not accepted in 30 days.
How to Follow Up on the Gold Business Visa Application
To track your UAE Business Visa nomination, use the following contact points.
- Applications for Dubai Residency: firstname.lastname@example.org
- Applications for Abu Dhabi Residency: email@example.com
Once your initial application is approved and the visa is in process, you should contact the Federal Authority for Identity and Citizenship.
- ICA Email: firstname.lastname@example.org
- ICA Contact: +971-2-495-5555
Insurance Packages for Golden Visa Holders
Recently, insurance plans for Golden visa holders were revealed.
AED 2,393 in yearly premiums for coverage up to AED 300,000.
Enhanced Gold Package: AED 4,985 in yearly premiums for AED 2.5M in coverage.
Premier Package: AED 39,857 in yearly premiums for AED 20M in coverage.
Essad Cards will also be offered to Dubai Golden Visa holders. Members will get fantastic deals and rebates on a variety of brands in the UAE and 92 other countries.