Immigration to UAE Golden Visa

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UAE Introduces 10-Year Golden Visa for Professionals

The United Arab Emirates (UAE) recently decided to issue a 10-year golden visa to professionals that will include engineers, physicians, Ph.Ds. who are from UAE accredited universities who have scored Grade Point Average or GPA of 3.8 and above. The motive behind issuing this visa is to retain ‘talented people and great minds’ in the country.

The golden visa was introduced in 2019 as a long-term residency program by Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai. After its launch, more than 400 investors, businessmen and some of their family members have been granted the visa.

About the United Arab Emirates

The United Arab Emirates (UAE) is a federation of seven emirates – Abu Dhabi, Sharjah, Dubai, Ajman, Umm Al Quwain, Khaimah, and Fujairah.

Together the seven emirates make up the Federal Supreme Council.

The federal capital lies at Abu Dhabi, the largest among all the emirates that make up the UAE. Abu Dhabi takes up more than three-fourths of the total land area of the UAE.

With the presence of many multinationals amidst several skyscrapers, the port city of Dubai is the capital of the emirate of Dubai.

The UAE has an estimated population of around 9.9 million individuals.

Prominent Cities in the UAE Include

  • Dubai
  • Zayed City
  • Sharjah
  • Abu Dhabi
  • Dibba
  • Al Ain
  • Ajman
  • Ras Al Khaimah
  • Fujairah
  • Um Al Quwain
  • Khor Fakkan

Reasons for Introducing the UAE Golden Visa

The reason for introducing the golden visa was to project the UAE as a destination for business investment and encourage business development in the region. The visa was introduced to recognize residents who have been here for the long-term and their contribution to their country’s development.

The golden visa is a means to recognize their contribution and to thank them with a log-term visa that is valid for ten years and can be renewed.

Who can Apply for the Golden Card?

Five categories of non-residents can apply for the golden card, these include entrepreneurs, chief executives, investors, meritorious students and scientists.

Requirements for Foreign Investors

They must full fill at least one of the following conditions:
  • Must make a deposit of up to 10 million dirhams in an investment fund in the UAE.
  • Must be an owner of a company with 10 million dirhams as capital investment or must be a partner in a company with a share of up to 10 million dirhams.

Apart from this, the following conditions must be fulfilled

  • Investment funds should be fully owned rather than be funded through a loan and adequate proof must be given
  • The applicant must have held the investment for at least three years
  • The applicant must have an insurance document for themselves and their family members

Requirements For Entrepreneurs

  • Applicants must be owners of a project that has a value of 500,000 dirhams or above in a field certified in the UAE
  • Applicant must be approved as a certified business incubator and a founder of the project
  • Applicant must have health insurance coverage for himself and his family members

Eligibility Conditions for Specialists

  • Applicant can be a professor from any one of the top 500 international universities that is approved by the ministry of education
  • Applicant with an award or certificate of appreciation for his area of specialization can also apply
  • Scientists who have made major contributions to an area of study
  • Ds. with 20 years of practical experience in their field of expertise
  • Applicants who are specialists in fields significant to the UAE

Eligibility Conditions for Chief Executives

  • Must have a bachelor’s degree or its equivalent
  • Must have experience of five years and above
  • Must be earning a salary of 30,000 dirhams or more in the UAE and have a valid job contract
  • Must be covered by health insurance which includes family members

Eligibility Criteria for Others

As for the criteria for inventors, they must have a patent that should be of value to UAE’s economy and should have the approval of the patent from the ministry of economy.

Apart from this, the program includes art and culture specialists who must be approved by the Ministry of Culture and Knowledge Development in the UAE.

How Foxton can Help you

Foxton provides you unbiased immigration advice, helping you to select the best overseas option for yourself, based on your educational background, qualifications, requirements and preferences.

How Foxton can Help you

  • Generally, countries look for applicants skilled in their occupation, with at least three years’ work experience. Those with close relatives living in the country or an offer of employment are preferred.
  • A Bachelor’s degree or higher education might be needed.
  • Proficiency in the English language might be required.
  • IELTS is not mandatory. IELTS is one among the acceptable standardized tests. Other tests are also available.
  • Spouse/partner and children can be included in the permanent residence submission. Certain countries allow parents of the main applicant to be included as well.
  • After migrating and settling abroad as a permanent resident, you might be able to get your parents to join you, and also sponsor eligible close relatives.
  • Most countries allow permanent residents to live, work, or study anywhere in the country.
  • Job offer is not mandatory. Certain immigrant pathways don’t require you to have a job offer from an employer in Canada to be able to apply.

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St. Lucia

St. Lucia lies in the eastern Caribbean Sea, northwest of Barbados and south of Martinique. A volcanic island mostly covered in rainforest, it is famous for its twin peaks — the Pitons — and its magical beaches. St. Lucia is a member of the Commonwealth and CARICOM and has excellent air links to Europe and North America.

Investment

Minimum contribution of USD 100,000

Processing Time

Three–four months

Key Benefit

Three–four months

Benefits of the St. Lucia Citizenship by Investment Program

  • A St. Lucian passport provides visa-free or visa-on-arrival travel to 147 destinations including Europe’s Schengen Area, Hong Kong, Singapore, the UK, and many others.
  • No residence or visitation is required.
  • Applicants are able to include a spouse, children under 31, siblings under 18, and parents aged 56 and over, as well as to add dependents after they have been granted citizenship.
  • The program has attractive investment and processing costs.
  • St. Lucia recognizes dual citizenship.

Malta

Situated in the center of the Mediterranean Sea, Malta enjoys an excellent reputation for its splendid climate, friendly people, low crime rate, and superb quality of life. An attractive place in which to live or own a second home, Malta also has excellent air links.

Investment

EUR 738,000 for a minimum residence period of 36 months or EUR 888,000 for a minimum of 12 months (including property lease)

Processing Time

Applicants and all adult dependents must hold Maltese residence status for a minimum of 36 months (or 12 months by exception) before they may apply for citizenship

Key Benefit

An attractive place to live or own a second home in, strategically located, with excellent air links

Requirements of Maltese citizenship by Naturalization

The application for Malta Citizenship by Naturalisation for Exceptional Services by Direct Investment is thoroughly checked and assessed and undergoes a four-tier due diligence process. To qualify, the following requirements must be fulfilled:
  • A minimum age of 18 years for all applicants
  • A contribution of at least EUR 600,000 for a minimum residence period of 36 months or EUR 750,000 for a minimum of 12 months
  • The purchase of a residential property in Malta of at least EUR 700,000, which must be held for five years. Alternatively, the lease of a residential property with a rental value of at least EUR 16,000 per annum, also held for five years. Please note that the property cannot be sublet during this five-year period. A 36-month (or 18-month, by exception) lease agreement or property purchase is required during the residence period
  • A donation of at least EUR 10,000 to a registered sport, cultural, scientific, philanthropic, animal welfare, or artistic non-governmental organization or society, as approved by the Community Malta Agency
  • Legal residence of Malta for at least 36 months (or 12 months, by exception), which includes the lease of a residential property with a rental value of at least EUR 16,000 per annum, held for that same period. Applicants require a valid residence card in order to apply for citizenship

Austria

Austria is one of Europe’s wealthiest countries, offering a very high quality of life to its people. With awe-inspiring natural attractions and a well-developed and stable economy, Austria makes for an outstanding place of residence.

Investment

Substantial contribution to the Austrian economy

Processing Time

Varies per application but usually takes 24–36 months

Key Benefit

Visa-free or visa-on-arrival travel to 188 destinations including Canada, Hong Kong, the rest of the EU, and Europe’s Schengen Area

Requirements of Austria Citizenship by Investment

Under the citizenship by investment provisions, an applicant is required to invest actively in the Austrian economy, for example in the form of a joint venture or direct investment in a business that creates jobs or generates new export sales. Significant direct investment is generally required. Passive investments in government bonds or real estate, for example, do not qualify.

In addition to standard documentary requirements (such as passports, birth, and marriage certificates), a completely clean personal record (certificate of no criminal record), a comprehensive CV, and business background information, as well as impeccable references must be provided by all applicants.

The Austrian Citizenship Act generally requires the applicant to abandon their current citizenship as a precondition for being granted Austrian citizenship. However, in case of a grant of citizenship under the provisions of Article 10 (6) of the Citizenship Act, the former citizenship can be legally maintained, that is, the applicant may not be required to give up their present citizenship.