Secure a 10-year UAE Golden Visa residency without employment using these 5 methods

The highly sought-after Golden Visa in the UAE has seen a significant rise, with the General Directorate of Residency and Foreigners Affairs (GDRFA) – Dubai revealing a 52% increase in issuances during the first half of 2023. By November 2022, Dubai had granted over 150,000 Golden Visas to eligible property buyers, investors, professionals, and others. This visa, launched in 2019, has become a symbol of prestige and attracts individuals from various fields, contributing to the emirate's appeal as a destination for long-term residency.

The General Directorate of Residency and Foreigners Affairs (GDRFA) – Dubai continues to play a pivotal role in administering the Golden Visa program, facilitating the residence status for investors, professionals, students, and entrepreneurs. The substantial growth in Golden Visa issuances highlights the sustained interest and confidence in Dubai's business environment, making it an increasingly popular choice for individuals seeking stability and opportunities for long-term residence.

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

Professionals in sectors like healthcare, media, IT, and other industries with a monthly salary of Dh30,000 or more qualify for the Golden Visa. Nevertheless, specific categories exempt individuals from requiring a job to apply for a 10-year visa. Here are five of them:

1. Real estate purchasers: Encompassing UAE residents and international investors, qualify for the Golden Visa by acquiring one or more properties totaling Dh2 million or more. This pertains to both off-plan and existing properties within the country.

In a significant development, Dubai has eliminated the Dh1 million down payment prerequisite for property buyers seeking eligibility for the 10-year visa. Nevertheless, the cumulative value of the property must still amount to Dh2 million or more to fulfill the eligibility requirements.

2. Cash deposit: High-net-worth individuals can deposit Dh2 million with a local bank for a period of two years to be eligible for the prestigious visa. Many local banks in the country are offering help to the people who opt for this scheme.

3. Entrepreneur: The executive regulations set flexible requirements for entrepreneurs eligible for the Golden residency. An entrepreneur should own or partner in a startup registered in the country in the small and medium enterprises (SMEs) category and generate annual revenues of not less than Dh1 million.

Moreover, if the person is a founder or one of the founders of a previous entrepreneurial project(s) that was sold for a total value of not less than Dh7 million, he/she will be entitled to the Golden Residence. The approval of the Ministry of Economy or the competent local authorities is required for projects or ideas.

4. Scientist & researchers: Golden visa residency is granted to scientists and researchers with high achievements and influence in their field based on recommendations from the Emirates Scientists Council. The candidate should have a PhD or Master's Degree in the disciplines of engineering, technology, life sciences and natural sciences from the best universities in the world, as well as substantial research achievements.

5. Outstanding students: High-performing students in UAE secondary schools, and outstanding graduates from UAE universities and the best 100 universities worldwide could apply for the 10-year visa. Specific criteria include academic performance (cumulative average), the year of graduation, and the university classification.




Source: khaleej Times
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