UAE’s Golden Visa Benefits

Published on October 13 | Blogs

Are you willing to invest in a prosperous country and enjoy numerous benefits? Then the United Arab Emirates would be the perfect place for you to invest and start a new life. The UAE is one of the most thriving countries and is known to be the center of the new world, especially Dubai; a city with warm temperatures for most of the year, safe living conditions, sophisticated infrastructure, and one of the best banking systems in the world. The UAE is a country offering the future; by the future, we’re talking about Dubai. As many have already been calling it the city of dreams, Dubai is a city that flaunts all types of properties and societies, carving the way to the future by turning everyone’s dreams to invest in their lives and change their future into a reality. What if we can tell you that you can call Dubai, the world's luxury capital, your home? With UAE’s Golden visa, you can call Dubai home and enjoy numerous unmatched benefits. This blog will take you through how to acquire such a golden visa passes you, what you need to be eligible for it, and more.

What is UAE Golden Visa and its latest updates?

Golden Visa benefits allow foreign talents to live and work in the UAE for five to ten years. UAE Golden Visa program was introduced in 2019 to allow anyone from any country, who is eligible to apply for it and enjoy many benefits. Furthermore, in April 2022, HH Sheikh Mohammed bin Rashid Al Maktoum, UAE’s Vice President, Prime Minister, and Governor of Dubai, announced that the program is already benefiting the country’s economy. That’s why in October 2022, the government updated the golden visa rules to simplify the steps and expand the categories eligible for applying under a new set of regulations. Extra advantages for family members of Golden Visa holders include staying in the UAE for the full span of the golden residency even if the original holder passes away. A prolonged duration of up to six months after the expiry or cancellation date. Golden Visa holders may now have any number of their domestic helpers and workers under the new rule. Finally, the amount of investment in real estate and other fields to obtain a golden visa has been lowered to AED 2 million. In light of these newly updated regulations, more people will have the chance to live in the UAE and call it home without needing a sponsor.

UAE’s Golden Visa Holder Can:

● First of all, it offers long-term residency ranging from five to ten years.
● One of the primary benefits is life security. By acquiring a golden visa, you will have a sense of security in living your life in a well-organized and secure country that provides everything you need for you and your family.
● Having a golden visa and a valid driver’s license from your home country allows you to access UAE’s driver exam directly without having to take extra time-consuming driving classes.
● Anyone can apply for it from any country with no age restrictions.
● Once you get it, it can be easily renewed if you are still eligible for it.
● A substantial golden visa UAE advantage is that once you have it, you don’t need to rely on a sponsor to safely work or stay in the city.
● Requirements for a golden visa UAE do not require that you stay in the country for a long term residence visa for a specific period of time. You can travel for more than six months and still have your visa.

In addition to that, there are specific benefits of a golden visa for individual emirates. For example, Dubai provides the significant benefits:

● A driver’s license for golden visa holders who have a driver’s license from one of 32 approved countries, including the UK, Australia, Italy, the US, Saudi Arabia, South Africa, New Zealand, Spain, Qatar, Kuwait, and Ireland.
● HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum has announced that a 10-year residency Golden Visa will be granted to exceptional immigrant students and their families in Dubai and that they will also be offered discounts to complete their higher education in multinational international university branches here in Dubai.
● Some categories of Dubai’s golden visa holders will be given the Esaad privilege card, which offers many benefits.
Golden visa insurance ranges from AED 2000 to AED 50000, depending on several factors such as age and health, for one year and can be renewed yearly.

Who Can Apply for a Golden Visa?

1. Investors
Real estate investors can acquire the UAE’s golden visa by purchasing a property or an off-plan deal that is worth at least AED 2 million.

2. Entrepreneurs
It is feasible for real estate entrepreneurs to apply for a residence visa and get a UAE golden visa under certain conditions.

3. Scientists
Scientists and researchers with high achievements and impact in the world class in their field can apply for a golden visa by acquiring recommendations from the Emirates Scientists Council.

4. Professionals
Professionals or highly-skilled workers with high educational qualifications and professional experience.

5. Outstanding students and graduates,
Outstanding students and high achievers in the UAE’s secondary school system, in addition to, outstanding graduates from the UAE’s universities, are eligible to apply.

6. Humanitarian pioneers
Distinguished members of international or regional charitable organizations, or those who are members of institutions of public benefit.

7. Frontline heroes
Healthcare personnel and any other frontline workers during the pandemic.

UAE Golden Visa Requirements

The new updates to the UAE golden visa eligibility now apply to professionals in all fields and investors under certain conditions. For professionals, multiple entry visa eligibility conditions are as follows:

●  The applying candidate must have a valid job contract in the UAE.
● The applying candidate must be ranked in the first or second occupational level per the Ministry of Human Resources and Emiratisation classification.
● The applying candidate must have a minimum educational level and must hold a bachelor’s degree or equivalent.
● The applying candidate must have a monthly salary of at least AED 30,000.

Golden visa UAE requirements for investors who are willing to invest in Dubai’s real estate and take their place in the future are that they have to fulfill one of the following:

● Own a property worth at least AED 2 million
● Purchase a property using a loan from specified local banks
● Purchase completed or off-plan properties worth at least AED 2 million from a list of authorized local real estate companies.

Real Estate Companies in Dubai

Looking for a real estate company in Dubai that can help you get a Golden Visa in Dubai? In this case, a well-known Dubai-based company such as Sobha Realty can help you achieve all of that and more in the city of dreams and the land of opportunities. Sobha Realty offers you different projects with different budgets, making you a golden visa candidate.

UAE Golden visa has been helping many individuals from different fields of life to gain 5-10 years of residency! People who meet the UAE golden visa requirements can apply for the same or look for routes that allow them to buy a property in Dubai. Real Estate in Dubai is a thriving and prosperous sector, with great business opportunities and for investors to earn high rental yields. Don’t hesitate to contact us at Sobha Realty and let us show you the route to success and help you change your life by securing the future for you and your family.

Frequently Asked Questions (FAQs)

● What are UAE’s golden visa benefits?

UAE golden visas the new visa will allow expats to live, work and study in the UAE without needing a national sponsor and with 100 percent ownership of their business in the UAE.

● How much is UAE’s golden visa price?

For applicants in the UAE, the Golden Visa will cost between AED 2,800 and AED 3,800, but for applicants outside of the UAE, the Golden Visa will cost between AED 3,800 and AED 4,800.

● Do golden visas include families?

Golden Visas include family members, dependents, and senior employees, depending on the nature and eligibility of sponsorship within each visa category.

● How long does it take to get a UAE golden visa?

After successfully submitting the required documents and completing the medical assessment, it takes three to five working days.

● How long can I stay outside of the country?

Golden Visa holders can stay outside of the UAE for prolonged periods of time which can be more than 6 months without affecting their golden visa holder status. There are no limitations for time spent outside the UAE.

● Can I work with a golden visa?

Golden visas include families and allow you and your sponsor family members to work or have domestic employees with no restrictions.