Best Opportunity For Investors – Obtain 10 Year Golden Visa In Dubai
Dreams did indeed come true for many living in the United Arab Emirates, especially the exciting city of Dubai. It promises endless business opportunities, tax-free income, beautifully and technologically advanced living spaces, and mouthwatering world-class dining. But as a setting amidst sun, sand, and sea, one couldn’t describe the place much more aptly as a heaven for many people.
In a world where several economic cost-of-living increases and uncertain political climates characterize most regions, it is little wonder that expats from around the world are interested in obtaining residency within the UAE. Long-term residency options through the Golden Visa program have become one of the most attractive options for investors to pursue residency.
What is the Golden Visa?
The new immigration system was introduced as Golden Visa and assigned to the Ministry of Interior in January 2019. Under this new concept, it shall ease their stay in the country and give the immigrants a long-lasting residency visa, which is renewable. On the other side, this valid visa more than 10 years gives an opportunity to citizens to live and work or do studies in that country.
Pros of Golden Visa:
Not only does the Golden Visa offer a residency permit but also several additional benefits, which make it quite attractive:
The Golden Visa offers long-term residency, good for up to 10 years, and can be renewed to stabilize you and your family.
Family Sponsorship: Latest changes are included as spouses and dependents of every age group eligible under the umbrella of Golden Visa and hence will reap the reward by living together as a whole family in Dubai.
Security of Residence: When a Golden Visa holder passes away, family members may continue their residency in UAE.
Flexibility of Stay: The Golden Visa holder is not bound by the rule that restricted the residents from leaving the UAE. He can stay abroad for as long as he wants without losing his residency status.
Access to World-Class Amenities: Living in Dubai means top-notch healthcare, education, and entertainment facilities that make it a great place to live for both families and professionals.
How to Get the Golden Visa in Dubai
Immigration is a very complex process, but the Golden Visa program has made it less complicated for investors and other qualified individuals. The following is how to get the Golden Visa in Dubai in a step-by-step guide:
Step 1: Eligibility Criteria
To qualify for the Golden Visa, the applicant must fulfill certain requirements, especially those associated with investment. The following are eligible categories:
Real Estate Investors:
You can qualify by buying a property over AED 2 million.
Purchase properties from the government-approved real estate company.
Investors: If any person buys a property in the country and opts for local bank finance for the same, he can also qualify.
Entrepreneurs:
The person with the startup with a minimum capital investment of AED 500,000
Exceptional Talents:
The person with outstanding achievements in art, culture, sports, and science
Specialized Professionals:
Healthcare, engineering, and technology experts
Excellent Students and Alumni
Alumni from the UAE secondary schools with a grade of 95% or equivalent
Humanitarian Leaders
Those who have performed outstandingly in humanitarian work
Frontline Workers
Experts who have contributed in a major way to the efforts against the COVID-19 pandemic
Step 2: Documents to be obtained
Once you are eligible, you must gather the relevant documents. Even though the conditions vary from category to category, some of the common documents include the following:
Valid passport valid for a period of six months.
Recent photograph of the current passport.
Documentary proof of investment in the form of the purchase documents of a property.
Certificate of good conduct issued by your country of origin.
Medical fitness certificate.
More documents depending on your category, such as business licenses for businessmen.
Step 3: Apply for Golden Visa
The Golden Visa applications are available online and through the approved service centers. The application procedure is as follows in general steps:
Online Registration: One needs to register on the particular UAE government portal.
Application Form: Fill up the Golden Visa application form completely and accurately.
Submission of Documents: Upload all the documents based on the eligibility criteria.
Payment of Fees: You have to pay the associated fee. Fees will differ based on the kind of visa and how fast you want it to be processed.
Step 4: Wait for Approval
Once you apply, the form is submitted for assessment. It takes some weeks or so, depending on the processing time involved in the complexity. The approval notice will be communicated to you during this time frame. When your application gets approval, you will be given the Golden Visa, allowing you to live in the UAE for the period specified.
Step 5: Medical Checkup
Upon the approval of your Golden Visa, you are required to undertake a medical examination at an accredited medical center in the UAE. It is a mandatory step for all residency applicants and generally consists of a health check-up and screening for communicable diseases.
Step 6: Obtain Your Golden Visa
After a successful medical checkup, you will receive your Golden Visa and, with it, you and your family can enjoy many more opportunities for enjoying life in Dubai.
Dubai Real Estate Investment
Golden Visa through investment in real estate means the way to numerous opportunities for investing in the rapidly developing real estate sector in Dubai. Some of the facts why Dubai is the perfect choice for investment are presented below:
- Tax-Free Income
It is a tax-free place; thus, earnings in this place could be relatively higher than other countries where investing could have expensive and heavy tax liabilities. This in itself makes it an attractive haven for expats looking for value in their investments.
- High Rental Yields
High rental yields are among the characteristics that have defined the Dubai real estate market forever, in most cases, above many of those found in the Western world. Therefore, it extends beyond offering a platform to obtain residency to become financially rewarding as well.
- Several property options
Dubai offers property investments in several choices. Among these, investment options range from luxurious villas and high-rise apartments to commercial properties and off-plan projects, among others. This will give investors the possibility of selecting any type of property they desire to suit their personal preferences and objectives.
- Infrastructure Development
It has mega-infrastructure projects and is constantly developing, so property value appreciates further. The Dubai Creek Tower and Public Transport expansion still under development increase the chances of making an intelligent investment in Dubai real estate.
- Cultural and Lifestyle Attraction
Dubai is a melting pot of cultures with a lifestyle so unique that expatriates from all over the world are attracted to visit and stay there. The city offers world-class dining, entertainment, and recreational facilities that provide an unparalleled quality of life.
The Future of the Golden Visa Program
Furthermore, the system program of the Golden Visa system is to be implemented further. More categories will find their accommodation with increased benefits for investors and residents. This way, the UAE will be a business and tourism hub across the globe and the golden visa significantly contribute in this regard with attracting lots of talents and investments.
Conclusion
A Golden Visa, for all those who have the dream of living in the UAE and especially in this extremely thriving city known as Dubai, is an extraordinary golden opportunity. It offers tremendous, long-term benefits in the form of residency, even more attractive, and with investment offers that have something to do with a lively lifestyle – the real deal of nothing less than a residency permit to live, cherish, and enjoy life within one of the world’s most dynamic cities.
