Everything You Need to Know About the Dubai Golden Visa

For decades, Dubai has always been seen by people around the world as a city of many opportunities. The United Arab Emirates has built upon that reputation by encouraging more people to come to the country and take advantage of its many opportunities and businesses. With the introduction of the Dubai Golden Visa in 2019, the city is poised to further evolve into the ideal hub for foreign individuals and businesses to thrive in. This guide discusses everything you need to know about the Golden Visa and what you can do to get one.

What is the UAE Golden Visa?

A Golden Visa is awarded to well-off individuals who plan to invest generously in a country for the chance to live there. It’s practically a long-term visa that will enable foreigners to live, work, and study in the UAE even without the help of a national sponsor. According to the UAE’s government portal, a Golden Visa also gives total ownership of the business to entrepreneurs who are planning to build their own business in the UAE’s mainland. This is one of the most desirable benefits of the program since it empowers foreigners to get their long-term visas along with their dependents, allowing them to be in the country for a long time.

The visa itself will be issued for a period of five to ten years and is automatically renewed, which can be quite convenient for foreigners. The government of Dubai gives Golden Visas to investors, professionals like engineers and doctors, property owners, students with promising capacities, and specific skill sets in different fields, such as science and information technology. 

What are the Benefits of Having a Golden Visa?

The Dubai Golden Visa framework offers long-term residence to those who are eligible to receive it. The primary advantage of a Golden Visa is the privilege to have a safe and secure future in the country. Anyone with a Golden Visa is practically given some sort of a “VIP status” in the country. In exchange for your valuable contributions, you’ll have the opportunity to stay in the country for a long time, and you can even bring your dependents with you. Here are some of the most important benefits of having a Golden Visa:

• No Sponsors Required - without a Golden Visa, you may need to have a sponsor to back you up so you can stay in the country for an extended period of time. However, having a Golden Visa bypasses that requirement, giving you 100% accountability for your business in the land of Dubai.

• Multiple Accounts - A Golden Visa gives you the privilege of opening your own bank account in Dubai for business or work use, which can be a huge advantage. Getting into a country by a Golden Visa makes it a lot simpler to have another protected vault for your reserve funds by smoothing out the financial arrangement of that country for you.
• Ease of Travel - As a Golden Visa holder, you’ll be treated just like nationals of the UAE. This makes investing and traveling quite easy for you. You never have to apply for the visa again, and you can live, study, and start your own business in the country without any inconvenience.

Who is Eligible for a Golden Visa?

The criterion for eligibility for a Golden Visa depends on the duration of the visa. Since the government is targeting specific types of individuals as recipients of a Golden Visa, they have different eligibility requirements for each. Whether you’re an investor or an individual with a specialized type of skill, you’ll need to fulfill a couple of criteria in order to qualify for a Golden Visa. Check out the UAE government’s official website for the complete list of qualifications.

Conclusion

Having a Golden Visa is definitely a huge advantage for many people who dream of starting a life in Dubai. If you’re interested in owning a property or starting your own business in Dubai, getting a Golden Visa can be an excellent opportunity for you.

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