The United Arab Emirates- UAE’s new Advanced visa system announced new rules last month. These rules are all set to come into effect from October 3rd,2022.
In UAE golden Visa rules and its long-term visas, there are some changes in permits to enter the country and stay.
In April, UAE’s cabinet approved new visa rules that aim to transform the country’s residence policy and immigration.
The changes in new visa rules include long tourist visas, an extension of residency for professionals on green visas, and an expansion of the 10-year golden visa scheme.
As per the new rules, the long-term visas and golden visa benefits can now be extended to immediate family members. Golden visa or Green Residence visa holders can sponsor children until the age of 25. This includes the expansion of the age limit which was initially 18 years old. Moreover, The visa has no age limit for unmarried daughters, and children of determination will be granted a residence permit irrespective of age.
UAE golden Visa Eligibility Parameters
To qualify for a golden visa, the applicant needs to fulfill all the requirements. In case of any change in documents or missing documents, your visa can be rejected. There are different criteria for different individuals such as
Golden Visa for Real Estate Investors Eligibility:
Real estate owners or investors are eligible to apply and obtain a golden visa after investing/purchasing a property worth $544,500 (AED 2 million).
With the changes in Rules, now real estate investors are purchasing property with a loan from certain local banks to obtain a Golden Residence visa.
In addition, real estate investors can obtain golden residence when purchasing one or more off-plan properties for no less than $544,550 from approved real estate companies(local).
Golden Visa for Startups and entrepreneurs Eligibility Criteria:
New Golden Visa Rules have made more flexibility for business owners, startup owners, and entrepreneurs. They can obtain a visa on various eligibility grounds including:
- To obtain a golden visa, entrepreneurs should own or partner with UAE-based businesses under the SMEs category. Moreover, the registered startups should generate revenue of not less than $272,250
- Entrepreneurs who are partners, co-founders, or the founders of Entrepreneurial projects sold for a minimum total of $1.9 million. In addition, the project should have approval from the ministry of the economy or local competent authorities for the project or ideas.
- Startup owners or entrepreneurs who have obtained approval from the official business incubator for their business idea. The approval should also be obtained from the ministry of economy, or local competent authorities are eligible to obtain a golden visa.
Green Visa for Investors and Business Partners
The new green residence visa is started to encourage investments. Initially, green residence visas offered 2-year residency for investors participating in commercial activities. Now, it has been extended to 5-year residency. You need approval and proof of investment. If the partner or investor is having more than one license the total capital investment will be calculated with the mandatory approval of authorities.
The Benefits of Obtaining a Golden Visa for Real Estate Investors or Businesses
The new system of golden and green residence visas allows immediate family members to apply for golden visas. Children can also be sponsored up to 25 years of age.
Green residence visas allow first-degree relatives and will be valid till the original visa holder’s validity. It means if you are investing in Dubai you can invite your family members to live in Dubai.
All the visa entries single or multiple can be renewed and are valid for 60 days from the date of issue.
New Business Entry Visa
Visa and courage investors entrepreneurs and startup owners who explore business and investment opportunities. The entry is enabled without any sponsor or host.
UAE has made these changes to golden visas and green residence visas to attract more startup and business investments in UAE. If you are looking to move to Dubai for investment, this is your chance as your family and children are also eligible.
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