For decades, the most complex aspect of doing business in the UAE was trying to figure out the Visa process. Besides, as you examine different jurisdictions in the UAE you can see that the requirements drastically change. However, since the business landscape in the UAE grew, the government has now introduced the famous golden visa.
In this article, we will discuss everything you need to know about a golden visa. Furthermore, we will help you understand the process of getting a golden visa so that you don’t miss this opportunity. Additionally, we will explain in detail the benefits and the step-by-step guide to getting a golden visa. We will be discussing:
What are the golden visas?
Getting a Visa, for foreigners, is part of the documentation you need to do business freely in the UAE. Additionally, for large-scale businesses trying to establish themselves in the UAE, it is imperative to issue visas for their employees. For that matter, getting a golden visa in the UAE is so useful. For that reason, issuing a golden visa is the dream of many businesses already operating in the UAE.
The golden visas were a paradigm-breaker in many ways after its introduction. These ten-year visas are the result of many limitations within the old system. Therefore, issuing a golden visa is the perfect way of combatting old limiting hurdles that can permanently hinder your business. For that matter, starting the golden visa issuing process before establishing your business is imperative.
Before the introduction of the golden visa, visas were for either high-status employees or big investors, however, the cancellation of these visas could happen at any time. Additionally, for investors, the cancellation of their visas could mean losing their investments, as having a visa is a requirement for investing in national companies. Subsequently, there was a decrease in the UAE’s influx of entrepreneurs and business investors.
For that matter, the golden visa UAE represents a long-term solution for this issue. Besides, as the golden visa offers residence for ten years, it means business freedom in the UAE for a long time. Furthermore, the addition of the golden visa gave the security for foreign businesses to establish themselves in the UAE. Additionally, the golden visa allows investors to keep their money in the country even after retirement.
Why is it important to get a golden visa?
Besides the golden visa benefits, there are aspects of the golden visa that can help you further expand your business. For reference, the prime minister of Dubai has stated that the benefactors selected to get the golden visa, already exceed one billion AED. This means that there are other factors, besides time, that this visa provides to its benefactors.
Furthermore, the golden visa benefits seem closely related to monetary implications, as the first benefactors of the golden visa had already earned enough to be over one billion AED. This is because among the golden visa benefits, having 100% ownership is one of them. Therefore, having a local sponsor is no longer a requirement, and getting 100% of the profits is entirely possible.
Furthermore, there are various schemes of golden visas, thus having a wider range of people eligible to get them. Moreover, the introduction of the golden visa was a plan to raise the influx of businesses, business investors, and professionals. Therefore, by providing accessible residence to the UAE, many entrepreneurs and knowledgeable professionals will secure a spot in the country.
There are many golden visa benefits for professionals and freelancers as well. Thereby, it makes the idea of getting a golden visa UAE very attractive. Additionally, for many freelancers, there is a freelancer visa, and the idea of staying permanently in the UAE is attractive enough to issue a golden visa. However, the golden visa benefits overshadow the little allowances the golden visa provides. Let’s observe:
What are the benefits of acquiring a Golden Visa?
- Being able to freely live, study, and work in the UAE.
- Being able to live long-term in the UAE.
- Security of work permits for spouses and children of the golden visa holder.
- Have 100% ownership of your business.
- Not needing to look for a national sponsor.
Who is eligible to get a Golden Visa?
Despite the fact that there are many benefits of getting a golden visa UAE, there are many restrictions when obtaining it. Additionally, not every foreigner meets the requirements to get a golden visa. The golden visa UAE is a document made to expand the business industry to the country. Additionally, the purpose of the introduction of the golden visa UAE was to bring talent and knowledge. This is a form of ensuring the expansion of fields like engineering, medicine, biotechnology, and more.
The healthcare system in the UAE still has a long way to go as far as medical professionals go. Additionally, because of the pandemic, many of the professionals residing there have to go back to their families. For that reason, professionals in the healthcare area are highly regarded to get a golden visa UAE. For instance, since the pandemic started, the UAE has been recruiting both doctors and nurses to help the country.
Over the last two years, the UAE has given multiple golden visas to frontline workers during these times of crisis. Hundreds of medical assistants have gotten the golden visa UAE for nurses and many more the golden visa UAE for doctors. There are some requirements to get a golden visa UAE for doctors; however, the main requirement is years of expertise. Similarly, the main requirements to get a golden visa UAE for nurses are years of experience and a recommendation letter.
However, getting a golden visa UAE for doctors is easier than a golden visa UAE for nurses. This is because doctors are a priority during these critical times and there are nurses available in the UAE. Furthermore, both the golden visa UAE for doctors and the golden visa UAE for nurses offer permanent residence for spouses and children as well.
How difficult is it to get a golden visa?
Getting a golden visa UAE is mostly a matter of having the criteria the UAE government is looking for. However, matching these high standards can be somewhat difficult, especially if you do not have the knowledge. There are many requirements to get a golden visa; however, they vary depending on the type you are looking for.
For instance, getting a golden visa UAE for doctors or a golden visa UAE for nurses is considerably easier to get than an investor golden visa. This is because doctors and nurses are a requirement for the country, while investors are an addition to the market. Both are important to the UAE, however, medical professionals are a priority. For that reason, there are not many restrictions or requirements for nurses and doctors to get a golden visa UAE.
Getting a student golden visa is also a bit difficult. For students, it is important to have an outstanding GPA. Furthermore, it would help if the student comes from a renowned university or school. Additionally, to get a student golden visa in the UAE it is important to have a recommendation letter. The university or school the student comes from must issue this letter before the application process. Besides, getting a golden visa as a student it’s still radically easier than getting an investor visa.
The investor golden visa is probably the hardest to get. This is because to get an investor golden visa, it is necessary to have the right documentation about the company, bank, and get permissions other golden visas do not require. Let’s observe the requirements for each golden visa:
Requirements to get an investor golden visa:
Getting an investor golden visa is the dream of many. However, getting a visa can be quite difficult. Additionally, the list of requirements for this visa is a bit extensive and can be overwhelming for those unfamiliar with the process. For that reason, here at PEO Middle East, we want to help you get your golden visa. Our team of specialized professionals has the expertise you need to get the golden visa you are looking for.
Our company has many years of experience working in different fields of the business industry. Therefore, we can assist you in the areas your company needs the most by finding the solutions to the problems that might arise. Getting a golden visa can be difficult due to the extensive requirements, and our company can help you obtain it. Here is a list of all the previous requirements you need to have:
- At least one public investment of over 10 million AED.
- Settle a company in the UAE with a capital of at least 10 million AED.
- Having a partnership in a local company with an investment of at least 10 million AED.
- The amounts you are investing in must not be from a loan of any sort.
- Holding the investment for at least three years.
Requirements for a student to get this visa:
There are not many requirements to get a student golden visa. Besides, the only two particular requirements to get a student golden visa are to have a high GPA and to have the money to pay for the transaction. Furthermore, while coming from a famous school is an advantage, it is not a requirement. Here are some of the requirements to get a student golden visa:
- Having a GPA above 3.8.
- Passing the entrance exam for the college or school you are about to enter.
- Having a recommendation letter signed by your previous school.
Requirements to get a medical golden visa:
Similar to the student golden visa, there are not many requirements to get a medical golden visa. Besides, considering the current pandemic, medical professionals are a priority. For that reason, getting a medical golden visa is relatively easy. However, depending on the duration of the visa, the golden visa UAE price can change.
Is it expensive to get the golden visa?
When talking about the golden visa UAE price we also need to consider some variants. Golden visas come in two presentations, the five-year golden visas and the ten-year golden visas. Each of them has a different price. Let’s observe the golden visa UAE price available for each of them:
- The ten-year golden visa UAE price is the most expensive of the two. Counting the application cost and the insurance cost, the total amount you will pay for the ten-year golden visa is AED 2.230.
- On the other hand, there is the five-year golden visa. Adding the application cost and the insurance cost the total golden visa UAE price would be AED 1.300.
How can PEO Middle East assist you during the process?
As we have been able to see, getting a golden visa UAE is the desire of many but the achievement of few. This is because of the many existing restrictions for foreigners to get such a useful document. Additionally, getting to understand the whole process as a foreign can be difficult. Furthermore, making sure all your documentation is error-free can be a stressful process. However, with the right assistance, getting a golden visa is entirely possible.
For that reason, PEO Middle East is the best possible ally you can have during your golden visa registration. The goal of our company is to aid people like you during the challenges your company can face. Additionally, we have a team of specialized professionals that are fully capacitated to help you during every step of the process. If you are interested in knowing more, you can phone us at + (971)43316688. However, if you want to get the information first you can email us at [email protected] and we will kindly answer all your inquiries.