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UAE Golden Visa – An Investor’s Guide to Long-term Residency

Home / Golden Visa / UAE Golden Visa – An Investor’s Guide to Long-term Residency
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As the UAE continues to establish itself as a leading international business destination, attracting investment from around the world, the country has introduced the Golden Visa program to further incentivize high net worth individuals, entrepreneurs, and businesses to put down roots in the region. By offering long-term residency options, the UAE Golden Visa program not only simplifies the process of living and doing business in the country, but also provides an array of benefits and opportunities for those looking to invest and reside in the UAE. This guide aims to demystify the UAE Golden Visa program, offering invaluable insights into the requirements, investment options, benefits, and application process, as well as highlighting the role of trusted legal partners like Al Kabban & Associates in supporting investors throughout their journey.

The UAE Golden Visa is a long-term residency program that grants eligible investors, entrepreneurs, and outstanding talents in various fields a renewable 10-year residence permit. The program was introduced in 2019 as part of the UAE’s broader efforts to foster foreign investment, economic diversification, and job creation. While the traditional UAE residence visa is linked to an individual’s employment status and typically lasts for two or three years, the Golden Visa provides increased flexibility and security to beneficiaries.

To qualify for the UAE Golden Visa, applicants must meet specific criteria and fulfil investment requirements in areas such as real estate, business, or government securities. These investments need to be substantial, demonstrating the individual’s commitment to contributing to the country’s economy. Additionally, applicants must showcase good conduct, provide proof of financial stability, and obtain comprehensive health insurance.

In the subsequent sections of this guide, we will delve deeper into the details of the UAE Golden Visa program, exploring the various investment options available to applicants, outlining the benefits of obtaining long-term residency in the UAE, and outlining the application process. Furthermore, we will discuss how partnering with a reputable law firm, such as Al Kabban & Associates, can enhance the chances of a successful application and help investors navigate the complexities of residency by investment in the UAE.

Eligibility Criteria and Investment Options

To be eligible for the UAE Golden Visa, applicants must fulfil specific criteria and investment requirements in one of the following categories:

1. Real Estate: Invest a minimum of AED 5 million in the UAE property market. The real estate must be retained for at least three years and must be solely owned by the investor. It is crucial to note that mortgaged properties or those owned under a partnership do not qualify.

2. Business Establishment: Establish or partner in an existing UAE-based company with a capital of at least AED 10 million. The investment sum must be wholly owned by the applicant without loans, and the company must be operating within a high-value economic sector.

3. Capital Investment: Deposit a minimum of AED 10 million in an investment fund based in the UAE, or invest the same amount in an existing or newly launched business venture. The investment sum must be committed for at least three years and cannot be loan-based.

4. Government Securities: Secure a minimum investment of AED 10 million in government bonds with a five-year duration.

Meeting these investment requirements in addition to demonstrating good conduct, providing proof of financial stability, and obtaining comprehensive health insurance are essential for a successful application.

The Benefits of the UAE Golden Visa

The UAE Golden Visa program offers numerous benefits to investors and their families, including:

1. Long-Term Residency: With a renewable 10-year residence permit, beneficiaries can enjoy increased flexibility, stability, and security compared to traditional short-term residence visas.

2. Family Sponsorship: Golden Visa holders can sponsor their immediate family members (spouse, children, and dependent parents) for long-term residency in the UAE, thereby keeping the family united.

3. Business Opportunities: Long-term residency allows investors to establish and grow their businesses within the UAE’s dynamic and thriving economic landscape.

4. Mobility and Connectivity: The UAE’s strategic location and extensive global connectivity make it an ideal base for international investors looking to expand their reach.

5. Access to World-Class Facilities and Services: Golden Visa holders can benefit from the UAE’s high living standards, excellent healthcare system, outstanding educational institutions, and state-of-the-art infrastructure.

The Application Process

While the UAE Golden Visa application process is relatively straightforward, enlisting the help of a legal professional can smooth the process and enhance the chances of success. The primary stages of the application process include:

1. Preparing Documentation: Compile the necessary documents, such as passport copies, proof of investment, no criminal record certificate, financial stability documents, and health insurance.

2. Submitting the Application: Submit the completed application, together with the required documentation, to the relevant authorities or through the General Directorate of Residency and Foreigners Affairs (GDRFA) website or app.

3. Undergoing Review: The application will be reviewed by UAE authorities to assess eligibility and ensure all criteria are met. This process includes background checks, investment verification, and validation of supporting documents.

4. Receiving the Residency Permit: Once approved, the applicant will receive the UAE Golden Visa, granting long-term residency rights in accordance with the program’s guidelines.

5. Maintaining Compliance: Investors must maintain their investments throughout the visa’s duration and regularly comply with any reporting requirements and regulations to retain their long-term residency status.

The Role of Legal Experts in the Golden Visa Application Process

Given the substantial investment sums involved and the complexity of the requirements, seeking the support of skilled legal professionals like Al Kabban & Associates ensures a seamless and efficient application process:

1. Legal Advice and Consultation: Expert guidance on the UAE Golden Visa program’s requirements, investment options, and potential risks, tailored to the applicant’s unique needs and goals.

2. Documentation Assistance: Aid in preparing and organizing the necessary documents, including certifying, translating, and notarizing relevant documents to meet application standards.

3. Application Guidance: Step-by-step assistance throughout the application process, including submitting the application, liaising with authorities, and addressing any issues that may arise.

4. Post-Approval Support: Ongoing legal support for maintaining compliance with regulations, renewing the Golden Visa, and addressing any modifications or changes to the residency status.

Conclusion

The UAE Golden Visa program offers promising investment opportunities and the prospect of long-term residency in a flourishing economic landscape. Understanding the program’s requirements, investment options, and application process is vital for those seeking to establish a foothold in this thriving region. Engaging the services of a trusted business set up consultants, such as Al Kabban & Associates, can provide invaluable support and guidance, ensuring a successful application and seamless integration into the UAE’s dynamic investment environment.

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