In the year 2021, the UAE made certain amendments to the laws of conferring citizenship by investment. After the amendments, this specific UAE golden visa is granted to eligible investors, healthcare professionals, and exceptionally talented individuals, along with their families. This visa program will allow expats to have a five or ten-year residence visa to live, work, and study in the UAE.
The main aim of introducing this visa is to attract special talents, professionals, and investors to help develop the UAE’s economy. This visa is granted after approval from the Crown Prince, Executive Council, and courts. Now, we will discuss in detail the process of obtaining UAE citizenship and its requirements.
UAE Golden Visa
The UAE golden visa, or Dubai golden visa, is a long-term residence visa granted to foreign nationals to work and live or study in the United Arab Emirates. The main aim of the government of UAE was to attract special talents that can contribute to the development of the economy.
There are two categories of UAE golden visas, and the validity period of these long-term UAE residence visas is five or ten years. However, there are certain criteria for obtaining UAE citizenship.
Who can Apply for UAE Citizenship?
Certain types of individuals can apply for UAE citizenship by investment, which are,
- Entrepreneurs
- Investors
- Special talents
- Scientists and Doctors
- Exceptional students
- Frontline heroes
- Humanitarians
Here, we have shared information about the criteria for UAE citizenship.
Eligibility Criteria for UAE’s Citizenship
The eligibility criteria for getting UAE citizenship are discussed below.
| UAE Citizenship Category | Requirements |
| Investors | Real estate or property investment |
| Special Talents | Must be innovators in their fields and have won at least one international award. |
| Medical Professionals and Doctors | Must be a specialist in their field and have at least ten years of experience in a highly demanded skill in UAE. |
| Exceptional students | Best performance in secondary schools, top graduates from UAE universities. |
| Humanitarians | Famous regional and international humanitarians who have won international awards. |
| Front line Heroes | Frontline heroes who have volunteered in times of disasters like earthquakes and pandemics. |
Additional Requirements
Here are some additional requirements for UAE Citizenship;
- For investors to get a UAE visa, an investment of AED 10 million is required.
- For entrepreneurs, the investment requirement is AED 5 million, along with proof of their successful business.
- Applicants must have clean criminal records and other requirements like documents and valid visas.
10-Year Residence Visa in UAE-UAE Golden Visa
Investors are required to invest in real estate to get a ten-year residence visa in the UAE.
Ten-Year Residence Visa – Real estate investment
By investing in the property or real estate, the investors can get a ten-year long-term residence visa. Candidates must buy an off-plan real estate or property in the UAE by investing AED 10 million. There is also an option of taking a partial mortgage to buy property.
Ten-Year Residence Visa – Business Investment
The investors can also get a ten-year residence visa in the UAE by making investments in a running business. The investors must invest an amount of AED 10 million. They can either set up a new company or invest this capital in an established company in the UAE.
5-Year Residence Visa in UAE-UAE Golden Visa
The government of UAE has introduced a five-year long-term residence visa for investors, entrepreneurs, and other exceptional talents. Here, we will cover citizenship through investment in the UAE.
5-year Residence Visa in UAE – for investors
For investors to be eligible to get a 5-year long-term visa in the UAE, they need to invest capital in UAE’s property. The value of the purchased property should be AED 5 million. For property purchasing, you can not take a loan from banks. Also, you must keep this property in your possession for three years.
5-year Residence Visa in UAE – for entrepreneurs
Suppose you are an entrepreneur with an ongoing business project and a capital investment of AED 5 million or have been approved by an established innovative company in the Emirates. In that case, you are eligible for this UAE golden visa.
After getting your residence visa, you can also sponsor your close family, including your spouse, children, and up to three senior managers. The entrepreneurs will be granted a multi-entry visa in the UAE, with a validity of six months. This visa can also be renewed for an additional six months.
Application Process for Golden Visa UAE
There is a simple and easy procedure for submitting your visa application for the UAE golden visa, which is discussed below.
Getting an Entry Visa for UAE
In order to submit your UAE golden visa application, you’ll need an entry visa. Apply to get a UAE entry visa and submit your application. The authorities will investigate this UAE golden visa application for approval. After the visa application approval, you will be granted a six-month entry visa for the UAE.
Finalizing investment
It is necessary to complete your investment requirements and documents before submitting your visa application for UAE citizenship.
Starting Application Process
After the investment, you can submit your application to the authorities in Abu Dhabi or Dubai. There is also the option of an online portal for application submission.
If your application form is complete and you have submitted the necessary documents, you’ll receive the approval of authorities through email.
Undergoing Medical Checkup
The UAE government has mandated visa applicants to undergo a medical checkup. This step is also necessary to get UAE citizenship via investment.
Cost of UAE Golden Visa UAE
The cost of a golden visa in UAE can be different depending on the type of visa and included services. The main costs are listed below.
- If someone is submitting a visa application from within the UAE, it will cost between AED 2,800 and AED 3,800.
- However, if someone is applying from outside the country, the cost will be between AED 3,800 and AED 4,800.
Validity of UAE Golden Visa
The UAE golden visa holders are not required to stay in the country to maintain their residency visa. They are free to live within or outside of the country without any effect on their UAE citizenship.
Benefits of Getting UAE Visa Through Investment
Numerous benefits are granted to investors and entrepreneurs with UAE citizenship through investment or UAE golden visa. Some of these are discussed below.
- The benefit of getting a UAE visa is that you can live, work, and study in the emirate’s safe environment.
- With the residence visa, you can sponsor your close family and live with them in the UAE.
- You can also register your wealth in the UAE without any government restrictions.
- You can Start Your Business in the Emirates and open a corporate Bank Account after getting UAE citizenship.
- With the UAE passport, you can travel to a large number of European countries without a visa. These countries are Austria, Belgium, Canada, Italy, Mexico, Poland and many more.
- There is no income, property, or inheritance tax in the UAE, which is a huge benefit for citizens.
There are a lot of benefits that come with obtaining a UAE passport and visa, as the Government of UAE is continuously introducing new laws and regulations. The government also presents a social welfare program to help people with disabilities or people with financial needs. This financial program will be discussed in the upcoming sections.
Financial Help for UAE Nationals
The UAE government introduced the UAE’s social welfare program to extend aid to poor and disabled individuals. UAE citizens get money from government if their monthly income is less than AED 25,000 per month. This program includes different social aspects and support programs, which are described below.
New Allowance Programs
Through this program, UAE citizens get money from government. This program covers the housing allowance, education allowance, and allowance for unemployed job-seeking individuals and citizens over the age of 45 who have no job.
Increasing Existing Allowance
Through this program, the government increases the existing allowance for a needy family. Additionally, the government of UAE has introduced an inflation allowance for food, water, electricity, and fuel.
Summary
All in all, there is no direct UAE citizenship through investment schemes for foreigners. However, the government has introduced a five and ten-year investment visa for selected foreigners to obtain a long-term UAE residence visa.
The citizenship of UAE and visa are only available to some applicants, as there is a strict procedure of nomination and approval by the council and executive councils and courts. Make sure to gather all required documents and make a required investment before applying for a UAE golden visa.
We at Al-Riyady are here to assist you with all your queries related to investment visas and the procedure for applying for a UAE golden visa. Contact our expert team today and get business consultation services for your business. Our services include Tax Consultancy, Auditing and Accounting, Business Liquidation, and much more.
