UAE Golden Visa: 5 Paths to 10-Year Residency without Employment - Smart Zones® UAE
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UAE Golden Visa: 5 Paths to 10-Year Residency without Employment

Explore 5 pathways to secure a 10-year residency through the UAE Golden Visa without employment:

Dubai has recently revised the minimum down payment requirement for property buyers seeking eligibility for a long-term residency permit.

The highly coveted Golden Visa in the UAE has been granted to numerous investors, professionals, students, and entrepreneurs since its introduction in 2019.

As reported by the General Directorate of Residency and Foreigners Affairs (GDRFA) – Dubai, there has been a notable 52% increase in the issuance of Golden Visas in the first half of 2023. By November 2022, the emirate had successfully issued over 150,000 Golden Visas to qualified property buyers, investors, professionals, and others.

This 10-year visa provides several benefits, such as the issuance of residence permits for family members, including spouses and children. Notably, the age limit for sponsored children has been raised from 18 to 25 years, and there is no age restriction for unmarried daughters. Residence permits are extended to children of determination without regard to their age. Furthermore, there are no constraints on sponsoring domestic workers, and the Golden Residence remains valid without limitations on the maximum duration of stay outside the UAE.

Professionals in healthcare, media, IT, and other industries earning a monthly salary of Dh30,000 or more are eligible for the Golden Visa.

However, specific categories exist where individuals do not need employment to apply for a 10-year visa. Here are five such categories:

Property buyers:

Residents and foreign investors in the UAE purchasing one or more properties with a total value of Dh2 million and above can apply for the Golden Visa. This includes both off-plan and existing properties in the country.

In a significant announcement, Dubai has eliminated the Dh1 million down payment requirement for property buyers to be eligible for the 10-year visa. However, the total value of the property should still be Dh2 million and above to meet the eligibility criteria.

Cash deposit:

High-net-worth individuals can deposit Dh2 million with a local bank for a two-year period to qualify for this prestigious visa. Numerous local banks in the country are offering assistance to individuals opting for this scheme.

Entrepreneur:

T

he executive regulations have established flexible requirements for entrepreneurs seeking eligibility for the Golden Residency. Entrepreneurs must own or partner in a startup registered in the country in the small and medium enterprises (SMEs) category, generating annual revenues of not less than Dh1 million.

Additionally, if the individual is a founder or one of the founders of a prior entrepreneurial project(s) sold for a total value of not less than Dh7 million, they qualify for the Golden Residence. Approval from the Ministry of Economy or the competent local authorities is necessary for projects or ideas.

Scientist & researchers:

Golden Visa residency is conferred upon scientists and researchers with significant achievements and influence in their field, based on recommendations from the Emirates Scientists Council. Candidates must hold a PhD or Master’s Degree in disciplines such as engineering, technology, life sciences, and natural sciences from leading universities worldwide, along with substantial research accomplishments.

Outstanding students:

High-achieving students in UAE secondary schools and outstanding graduates from UAE universities and the top 100 universities worldwide may apply for the 10-year visa. Specific criteria include academic performance (cumulative average), the year of graduation, and university classification.

   

Publish January 29, 2024

Source: https://www.khaleejtimes.com/life-and-living/visa-and-immigration-in-uae/uae-golden-visa-5-ways-to-get-10-year-residency-without-a-job?_refresh=true

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