Guide: How to Obtain the Golden Residency Visa and Permanent Residency in Dubai
One of the options to become a part of Dubai is obtaining the Golden Residency Visa and Permanent Residency in Dubai.
In the United Arab Emirates, there is no permanent or temporary residency for citizens of other countries. To reside in the UAE for a long term, one needs to obtain a residency visa. The Golden Residency Visa is issued for up to 10 years and provides a unique opportunity for foreign investors and entrepreneurs to acquire the status of long-term residents in Dubai, allowing them to enjoy freedom of movement, access to high-quality healthcare and education services, and the ability to develop their business in an attractive and promising environment.
However, the process of obtaining the Golden Residency Visa in Dubai requires compliance with certain requirements and undergoing the necessary procedures. Are you ready to embark on this exciting journey towards new opportunities and benefits that await you in Dubai? Then let's get started!
Who Can Obtain the UAE Golden Visa
To obtain the Golden Residency Visa in Dubai, one needs to make substantial investments in the country. The exact requirements may vary, but typically, it is required to invest a certain amount of money in real estate, business, or contribute to local funds.
- Investments in real estate - starting from 2 million dirhams (approximately $545,000 USD).
- Entrepreneurs with a minimum share capital of 500,000 dirhams (approximately $136,000 USD).
- Owners of companies approved by a business incubator in the UAE.
- Outstanding scientists and students with excellent grades.
The capital should not be borrowed. Documents substantiating this fact need to be provided.
Where to Apply for the UAE Golden Visa
In Dubai, the application for the Golden Visa for foreigners can be made to the following authorities:
- Federal Authority for Identity & Citizenship.
- General Directorate of Residency & Foreigners Affairs.
Main Requirements for Applicants
To apply for the UAE Golden Visa, candidates must meet the criteria set for the Golden Visa in the UAE.
1. No criminal record or violations of visa regulations, public order in the UAE, threats to national security, or interests of the country.
2. Provide evidence of sufficient financial means to meet the investment requirements.
3. Provide proof of permanent residence in the country through property ownership/lease documents (applies to real estate investors only).
4. Obtain UAE health insurance for the applicant and dependents (spouse, unmarried children under 25) as per the UAE Golden Visa application. Domestic staff should also be included in the application.
5. Demonstrate good health by undergoing a medical examination at designated medical facilities, confirming the absence of infectious diseases for the candidate applying for the UAE Golden Visa. Domestic staff will also be screened for pregnancy and additional diseases from an extended list.
How to Apply for a Golden Visa in Dubai for Real Estate Investors
Step 1: Choose the Suitable UAE Golden Visa Program
Select a suitable program to obtain a residency or Golden Visa and identify the real estate property you wish to invest in.
Step 2: Finalize the Deal
Make a down payment for the property to reserve it. This is necessary as the demand for real estate in Dubai is high, and properties are quickly taken off the market. After the down payment, sign the sales purchase agreement and pay the full cost of the chosen property. Register the transaction with the Dubai Land Department and obtain the Title Deed.
Step 3: Collect the Required Documents
Collect the necessary documents, have them apostilled, order document translations, and have the translations notarized.
Step 4: Undergo Medical Examination in the UAE
This step is required for all foreigners relocating to the UAE, whether they are investors, scholars, or students. The examination takes place at any certified medical center in the country to exclude any infectious diseases.
Step 5: Submit Documents to Relevant UAE Authorities
Provide fingerprints, take a biometric photo at one of the UAE government centers, and submit the original passport there. Other documents are submitted online to the Federal Authority for Identity & Citizenship or the General Directorate of Residency & Foreigners Affairs.
Step 6: Obtain Temporary Investor Visa
Now you can obtain a 6-month visa that allows you to enter the country and settle in. Within these 6 months, you will need to convert the visa to a long-term residency visa.
Step 7: Obtain the UAE Golden Visa
After the 6-month period, visit the Foreigners Affairs Department to obtain the Golden Visa. The visa will be affixed to your passport, and you will receive a UAE resident identification card.
Upon expiration, the Golden Visa can be renewed if the conditions under which you obtained it are still met, i.e., you are still managing a company or owning real estate.
To obtain a Golden Visa, it is worth considering investments in one of the Emirates or utilizing professional merits if applicable. It is necessary to allocate time, resources, and effort for the documentation process, fee payments, and medical examination, but it is worth it for the benefits that UAE residency offers in return.
It is worth noting that in mid-November 2022, statistics on the issuance of Golden Visas in the Emirates were published. Since the program started three years ago, more than 150,000 individuals have obtained long-term residency status. The number has been rapidly increasing after the introduction of new visa regulations. Perhaps you too are eligible to apply for a Golden Visa?