Dubai took 5th place in the ranking of the World's Best Cities Report 2021 by the Resonance Consultancy company. Many foreign investors, entrepreneurs and professionals strive to get a residence visa in the emirate, so the government of the UAE has launched several initiatives aimed at attracting top talent in the state.
The UAE Golden Visa is one of these initiatives. We have prepared a special article with information about how to apply for the Golden Visa, as well as the requirements and benefits of having one. We have listed popular real estate projects in Dubai, where the purchase of real estate within these communities will give you the right to apply for a 5-year residency visa. In addition, we will also provide you with information on how to apply for this type of visa if you are residing outside of the country.
About The Golden Visa in Dubai
About The Golden
Visa in Dubai
Golden Visas are long-term residence visas in the UAE, which are issued for either 5 or 10 years and are renewed automatically. The new system was implemented by the state in 2019, and according to the new rules, foreign nationals can live, study and work in the country without the need of a national sponsor. Additionally, 100% business ownership by foreigners on the UAE’s mainland is now also allowed. One more benefit of granting a Golden Visa is a long-term residency in the UAE (5 or 10 years), which is convenient for foreign nationals, who want to live in the country without the hassle and worry of renewing it.
The government of the country launched the Golden Visa in order to retain talented people in the state. In accordance with the Cabinet Resolution No. 56 of 2018 Regarding the Organization of Residence Permits for Investors, Entrepreneurs and Professional Talent, Golden Visas may be granted to:
Eligibility for A 5-Year Visa
A 5-Year Visa
The following categories are eligible to apply for a 5-year residence visa in the UAE:
Eligibility for A 10-Year Visa
A 10-Year Visa
The following categories are entitled to apply for a 10-year residence visa in the UAE: investors in public investments of at least AED 10M (USD 2.7M) and individuals with specialised talents. In the first case, investments may be in the form of:
There are also several conditions for obtaining a 10-year residence visa in the UAE by investors:
The visa can be extended to include business partners, but on condition that each partner contributes AED 10M. A 10-year residence visa can include one Executive Director and one Advisor as well as the spouse and children.
The second category of those who are entitled to apply for this visa, include specialised talents and researchers in the fields of science and knowledge such as inventors, doctors, scientists and specialists, as well as creative individuals in the field of culture and art. The obligatory condition for all these categories is to have a valid employment contract in a specialised priority field in the country.
There are several conditions for obtaining this type of visa. For example, scientists must be accredited by the Emirates Scientists Council or holders of the Mohammed Bin Rashid Medal for Scientific Excellence, while creative individuals in culture and art must be accredited by the Ministry of Culture and Youth. The full list of necessary conditions can be found on the official website of the UAE government.
How to Obtain A Golden Visa in Dubai
How to Obtain
A Golden Visa
The process of obtaining a UAE Gold Visa includes the following steps:
Note: Only the applicant can provide the relevant information via the specified visa centers. You can submit all required documents by uploading them to the DLD Vault.
If you are residing outside of the country, you need to apply for a 6-month multi-entry visa, which allows you to enter the UAE and convert a temporary visa into a residency permit. The price for a multi-entry visa constitutes AED 1,150 (USD 313).
In order to obtain a Golden Visa you should have an NOC letter. The cost of a 5-year and 10-year Golden Visa is AED 4,850 (USD 1,320). Application costs constitute AED 150 (USD 41) and the issuance of visa costs are AED 1,000 (USD 272). So, in total, you will pay around AED 6,000 (USD 1,633).
Popular Real Estate Projects to Apply for A Golden Visa in Dubai
Popular Real Estate
Projects to Apply for
Golden Visa in Dubai
Purchasing a property is one of the easiest ways to obtain a 5-year residency visa in the UAE. According to the requirements, the minimum amount of the investment should be AED 5,000,000 (USD 1,361,000). Below is a list of popular freehold projects in the emirate of Dubai, in which buying real estate will give you the opportunity to apply for a UAE Golden Visa.
Note: The Dubai real estate market offers a wide range of investment opportunities, including buying real estate using cryptocurrency. You can learn more about the buying process and conditions here.
Buy with Metropolitan Premium Properties
Communities in Dubai
If you are interested in obtaining a Golden Visa in the UAE, Metropolitan Premium Properties is ready to assist you in the process. Our team of specialists will guide you through every stage of the visa process, ensuring full legal support, analyzing the real estate market, finding a suitable investment property (ready-made or under construction), and taking care of collecting and devising all the necessary documents.
Specialists of Metropolitan Premium Properties will help you to create a long-term income for the future from purchased off-plan real estate with the help of our property management service, or help you to resell the property on more favourable terms.