Over 88% of the UAE’s population of 10 million are expats and the Golden Visa is one of the government’s top methods of attracting talent and investment to the country. Introduced in 2019, the Golden Visa program offers long-term residency (5 to 10 years) to investors, entrepreneurs, specialised talents, researchers, and outstanding students. The initiative is part of a broader strategy to turn Dubai into a global hub for business, innovation and talent.
Key features of the Golden Visa are:
- Long-term security – unlike normal work visas that require renewal every few years, the Golden Visa offers long-term stability
- It encourages investment by offering long-term residency to investors attracting significant foreign investment into various sectors and boosting the economy
- Specialised talents in areas such as science, engineering, health, education and the arts are given long-term residency which keeps skilled professionals in the country.
- Entrepreneurs and start-up founders are encouraged to set up their businesses in Dubai, further contributing to local economy growth and an innovative business community.
- Families are included e.g. spouses, and any children up to the age of 25, making it attractive to professionals considering the move. (And were you to pass away, your family can stay for the full length of the visa, it is not revoked.)
- Golden Visa holders can live, work and study in the UAE without needing a native sponsor and can own 100% of their business in the UAE’s mainland
- The visa provides access to all seven of the UAE’s emirates so while it is known as the Dubai Golden Visa or an Abu Dhabi Golden Visa (these two emirates are home to the majority of the UAE’s population and popular among real estate investors), you can also use it in the other 5 emirates should you so wish.
- You will be given access to good government-funded healthcare
- The visa remains valid even if you live outside the UAE for more than six months in a row.
- During the application process, you are given an entry visa with multiple entries allowed for six months.
- The UAE Golden Visa is automatically renewed provided the conditions are still met.
Who Exactly is Eligible for the UAE Golden Visa?
- Scientists, PhD holders, and data experts
- Chief executives
- Medical doctors
- Outstanding students (specific grades apply)
- University graduates with a US equivalent 3.8 GPA or higher
- Investors
- Real estate investors
- Entrepreneurs
What is the Process and How Does It Work?
Previously the rules for the Golden Visa mandated a minimum single investment of AED 1 million but this has since been removed and investors with a property portfolio of AED 2 million and above are now eligible for the Golden Visa.
You will need to put a deposit down on the property to show intention (min 10%) and then acquire a letter from the land department of the emirate where the property is located, confirming the purchase and the property valuation. Both off-plan, and completed, properties are eligible for the Golden Visa; off-plan properties previously needed to be more than 50% complete, however this requirement has since been removed. Exceptions may apply for certain off-plan properties, so it is advisable to contact the developer for specific details.
What Documents Do You Need?
To apply for the Golden Visa, you will need the following documents for you and any family members that will be on the visa with you:
- A copy of your passport
- A recent passport photo
- A copy of your previous visa (if applic.)
- The Title Deed for completed properties
- A Sales Purchase Agreement for off-plan properties
- A Statement of Account (SOA) if the purchase is to be made under a payment plan
- A No Objection Certificate (NOC) from the bank if a mortgage has been taken out to buy the property
- A Non-Objection Certificate (NOC) from the developer detailing the payment amount
What are the Associated Costs?
Fee overview for a 10-year residency permit in Dubai via the Golden Visa:
- Medical Examination for you AED 700 per person (£150)
- Fee for UAE ID for Ten Years: AED 1,153 per person (£248)
- Fee for Confirmation of Residency Permit for Ten Years: AED 2,620 per person (£572)
- Fee for the Land Department: AED 4,020 (£864)
- Administrative Fee: AED 1,155 (£248)
You can pay the fees via bank transfer, credit card or cash. Payment and document submission are done at one of the UAE’s dedicated service centres, where you and your family members will undergo a medical examination. The visa and residency ID are then typically issued within 7 to 10 days.
Does the Golden Visa Allow Access in the Future to UAE Citizenship?
No, but there are ways to qualify in the future. Marriage to a citizen, naturalisation after living in the UAE for 30 years (if you speak Arabic), and nomination for citizenship as a real estate investor are other potential access points.
The Dubai Golden Visa is relatively expensive to apply for, costing more than £2,000 and the application process involves a lot of paperwork. However it is a great opportunity for property investors seeking long-term residence in a thriving and economically stable country and the recent removal of previous restrictions have made the program more accessible for investors considering investing in the Dubai property market.