UAE GOLDEN VISA
Considering making the UAE your long-term home? Whether you are a skilled professional or an entrepreneur. The UAE visa is a long term residence visa introduced by the United Arab Emirates government. This visa attracts and retain professionals, students, investors etc.
This visa allows people to study, live and work in UAE without any national or local sponsor. Whether you are a businessman or a student with potential it opens the door to the future in one . of the world’s dynamic economy. The UAE has introduced a new nomination based golden visa offering eligible Indians lifetime residency in the country by paying onetime fee AED 1.00,000 that is 23.3 lakhs without need to invest in property or business. Until now, Indian nationals were eligible for UAE coveted golden visa Program primarily through high value investments, including a minimum of AED 2 million that is 4.66 crore in property. But under this new system the applicants are now nominated and approved based on their professional background, any societal contribution, potential benefits to UAE sectors such as culture, trade, finance and etc . Indians and Bangladeshis are now eligible in pilot phase.
A pilot phase is when there is no property ,no company registration and no local sponsors. Nearly 5000 applicants are expected to connect with golden visa. Applicants are vetted or checked upon whether they have any criminal record, is involved in any anti money laundering compliance, social behavior and potential contributions in culture, finance, cultural trade, science , startups and professional area. People can apply through submitting their applications at online portals, Vasco centers and or Rayad’s group registered offices. This visa provides you some benefits like life term golden visa without linked to partnership and property. Approved applicants can bring their family members, hire domestic staff, run a business and take up employment in the UAE. But as we know there are always two sides of coin. Similarly there are some disadvantages of having a golden visa.
First comes in way is cost of living and lifestyle inflation. Rents in popular areas like Abu Dhabi are already very expensive. Similarly healthcare cost and premium quality education are expensive too. There are various real estate risks and various changing eligibility rules. The Golden Visa allows long-term stay, but citizenship is rarely granted and typically by presidential decree for individuals who demonstrate exceptional talent or service to the country.
The Golden Visa has now expanded to cover scientists, executives, frontline workers, schoolteachers, principals, university faculty, nurses with 15+ years of experience, YouTubers, podcasters and digital creators, accredited e-sports professionals above the age of 25, and luxury yacht owners and maritime executives. The initiative reflects the UAE growing economic and strategic ties with India following the CEPA that is comprehensive economic partnership agreement. The recent overhaul of UAE golden visa marks a significant shift in country’s residency landscape. The new framework is more inclusive and strategically aligned with UAE’s long impact. For the Indian investors this is a cue to recalibrate from residency led transactions to value led strategies.
