To visit, live or work in Dubai, you must obtain a suitable visa. There are many different visa types depending on your reason for visiting and how long you plan to stay. In this article, we’re answering queries pertaining to the longterm golden visa in Dubai.
What is a Dubai golden visa?
The Golden Visa was introduced in 2019 and has been a popular choice for those seeking residency in the UAE. This type of visa allows for long-term residency within the UAE, allowing foreigners to live, work and study in the country. UAE golden visas last for up to 10 years and can be renewed after this time subject to eligibility.
The UAE Government created this residence visa type to encourage expatriates to invest and start businesses in the UAE, while seeking to retain talent in the country. There are so many benefits of company formation in Dubai. Our expert team can support you with the entire process, from visa applications to UAE PRO services.
What are the Dubai golden visa requirements?
The requirements for the visa depend on your reason for obtaining it. For example, entrepreneurs will have different requirements compared to researchers and real estate investors. Some of the fastest-growing businesses in Dubai include hospitality, healthcare and technology.
As a foreigner, you will need to meet the following criteria to obtain the Dubai golden visa.
- You must be over the age of 18 to apply for a UAE golden visa
- You must be able to provide evidence of income upon request, such as a salary certificate, investment proof or a valid work contract
- You must have no criminal record
- You must have a clear bill of health and no contagious diseases
Family members of the golden visa applicant may also complete the application for the visa, but they must meet their own requirements. At CBD Corporate Services, we can support you with all Dubai visa applications.
To maintain this long-term residence visa, you can choose to live in the UAE or visit at least twice a year. This will allow you to continue utilising the golden visa scheme.
Some visa types are university degree accredited, meaning you’ll need to have a bachelor’s degree at the minimum. This means you’ll need to provide proof of education and have reached the minimum grade when you apply for the golden visa program. Find out about the extensive range of UAE visas.
Dubai Golden visa benefits
There are so many benefits to starting a Dubai business, as well as benefits to gaining a golden visa for foreign nationals.
As well as having a stunning landscape, Dubai is also a great place to do business. Dubai has fantastic links across many different industries. Importing and exporting are made simple due to its regulations and ease of doing business.
In the UAE, investors using this residence visa can benefit from paying no tax on income, capital gains, inheritance, gifts and property. From 2023, those earning a profit of over AED 375,000 will be required to pay corporation tax at the low rate of 9%. This is a huge benefit to many investors seeking residence visas.
Use of a UAE bank account
Obtaining a golden visa allows you to open a bank account in the UAE. The bank account can be opened using your chosen currency. We offer bank account assistance to investors who require it.
UAE driver’s license
In many countries, expatriates are required to complete driving lessons and pass another test. However, with the UAE golden visa system, many people can simply convert their licences to be able to drive.
Access to healthcare and education
The golden visa opens the door to healthcare access and gives family members the ability to learn.
How much does a Dubai golden visa cost?
The cost of the Dubai golden visa can vary based on the location in which you apply. If you apply within the UAE, you will need to obtain an entry visa before the golden visa. On average, applying from within the United Arab Emirates costs between AED 2800 and 3800. You may be required to pay for health checks and other elements while obtaining this long-term residence visa.
What is the UAE golden visa application?
The Dubai golden visa is issued by the General Directorate of Residency and Foreigners Affairs Dubai (GDRFAD). The process is generally fast, taking up to 30 days at a maximum. In most cases, you’ll be asked to provide documentation and evidence during the process. After the documents have been received, you’ll be notified of the application outcome within 30 days.
The documents can include, but are not limited to, your passport, passport-sized photo, travel documents and investment proof. You must provide all requested documents promptly, as this will help to ensure a smooth process for the UAE golden visa. Find out if you can start a business in Dubai without a residence visa.
Abu Dhabi visas
The Abu Dhabi Commercial Bank and the First Abu Dhabi Bank offer various advantages to golden visa holders. Under the Abu Dhabi Residents Office, you can also gain access to discounts in the area.
As your trusted corporate services provider in the UAE, we can assist with all your golden visa queries. Don’t hesitate to contact us if you need any support with your visa application.