Different Types of Golden Visas in Dubai Explained

Dubai’s Golden Visa program offers long-term residency to individuals meeting specific investment or professional criteria. This plan helps to attract great talent and investment from all over the world and bring about economic development for residents. Multiple categories are allowed in the program, including investors, executives, and owners of the property. Applicants get more time to stay, opportunities to do business, and lead a luxurious life in Dubai. This article gives a deeper understanding of the types of Golden Visa, their qualification, and how to apply.

Ten-Year Golden Visa for Investors

Investors can obtain a ten-year Golden Visa by meeting specific financial and operational criteria:

Eligibility Requirements

• A trade license is mandatory in the case of a company that has been in existence for over one year in Dubai.
• The invested capital should be not less than AED 2000000 or AED 4000000 if the investor is a 50:50 partner.
• Requests last year’s audited financial statements and VAT returns of the most recent four quarters.

Documentation

• Original Emirates identification card and passport.
• Bank statements for the last 6 months for the company account averaging AED 500,000 and personal account averaging AED 200,000.
• Freezone NOC if the business is applying for a Freezone license.

Dependent Visas:  These may be used by the investor’s spouse and children.

This visa offers stability to the investor, enabling them to grow their businesses in Dubai.

Ten-Year Visa for Executives

Managers and Directors of any company can also apply for a ten-year Golden Visa.

Eligibility Criteria

• This candidate must have been an employee of the same company in Dubai for at least five years.
• Minimum monthly salary requirement of AED 30000, with a valid bank statement of the concerned salary account.
• It is obligatory to have educational qualifications to complete any certification process.

Documentation

• Emirates ID, passport, and EJARI residency.
• NOC from the sponsor company.

Dependent Visas: These are available for the executive’s spouse and children.

This visa category encourages talent retention as it offers the visa on merit and experience as well as long term commitment.

Ten-Year Visa for Fixed Deposit Investments

Another way, investors can also get a ten-year visa through a fixed deposit.

Eligibility Requirements

• Pledge of AED 2 million in a national bank for a minimum period of two years with no earning of interest on the deposit.
• The applicants require a valid passport, and they should be residents of the UAE at the time of applying.

Dependent Visas: It is available for the spouse and children.

This visa type is perfect for those who want to secure a straightforward investment process without getting into the complexities of operation.

Ten-year Visa for Real Estate Investment

This category aims at property investors with large portfolios in Dubai.

Eligibility Criteria

• It must be an immovable property with a value of not less than two million UAE Dirhams, and the title deed is required.
• If the property is jointly owned, then the applicant’s share should be more than AED 2 million.
• Investor’s share in mortgaged properties is allowed if it is in excess of AED 2 million.

Documentation

• This is evidenced by the origin of the title deed, where the owner is clearly identified.
• Passport and medical insurance in the other original form as required by immigration authorities.

Processing Time: It should take about 10 working days for the total credit report process.

Property investors have full rights to the UAE’s active real estate market and the right to long-term residence.

Three-Year Golden Visa for Real Estate Investors

Those with small property assets can apply for a three-year residence visa.

Eligibility Requirements

• The minimum property value that can be accepted is AED 750,000.
• If the property is jointly owned, the applicant’s share should be more than AED 750,000. If the property is jointly owned, the applicant’s share should be more than AED 750,000.
• The same as above applies to mortgaged properties.

Documentation

• A title deed and a valid passport are the requirements for identification.
• Health insurance is compulsory.

This short-term visa enables property owners to live in Dubai without many financial commitments in the initial stages of settling down.

Application Process

To apply for a Golden Visa, applicants must follow these steps:

1. Document Preparation: Include a valid passport, Emirates ID, bank statements, and any other documents related to property or business.
2. Submit the Application: It can be applied at the authorized visa service centers or through the service of professional consultancy companies.
3. Government Approvals: Submissions are considered and assessed by concerned government agencies, and further information may be sought.
4. Visa Issuance: When approved, the visa is granted to enable the person to reside in the country for the agreed period.

Why Choose a Golden Visa?

Golden Visas offer numerous advantages:

• Temporary residence permit for a term of up to 10 years.
• The right to work and move freely in the United Arab Emirates.
• A dependent can live in Dubai.
• Possibilities to enlarge business and investment specters.
• These visas also make Dubai an ideal hub for international investors and workers.

Final Words

Golden Visa of Dubai can be described as a long-term investment in people, allowing individuals to become residents for investment and work purposes to contribute to the economic development of the UAE. As it provides a wide range of categories, it provides access to the effective business market and luxurious lifestyle of Dubai. Having gone through the necessary procedures and fulfilled the requirements, there is a guarantee for success in the United Arab Emirates. That is why, with the help of reliable partners such as Sotheby’s International Realty, it is possible to make decisions on investment with ease.