What Documents Are Required?
The Golden Visa requirements vary according to the type of residency, such as an investor, talent, entrepreneur, and so forth. For example, if you invest in a public investment fund, you may be awarded a Golden Visa for ten years without needing a sponsor.
For an investor, this is dependent on the following:
- Presentation of a letter from a United Arab Emirates-accredited investment fund verifying the investor's AED 2 million deposit;
- Submission of business or industrial license, as well as a memorandum of association declaring that the initial capital is at least AED 2 million;
- Investment of at least AED 250,000 every year, as shown by a letter from the Federal Tax Authority;
- Lastly, you must own the invested capital so it cannot be a loan, and you also have to produce evidence of medical insurance for yourself and your family (if any).
A UAE Golden Visa may be issued to a property or portfolio owner for a period of 5 years, renewed under the same terms and without a sponsor, provided they meet the following requirements:
- Proof of property ownership of at least 2 million AED (US$ 545,000), as documented by a letter from the relevant Emirati land authority;
- Purchase of real estate using financing from a specific local bank recognized as trustworthy by the relevant municipal entity.
Entrepreneurs may be granted a Golden Visa for five years, while specialized talents in the different fields of science and knowledge can be issued a visa for ten years. Additionally, you must get a letter of approval from each of the following:
- A UAE auditor confirming that the project's worth is more than 500,000 AED (US$136,145);
- Emirate's officials indicating that the initiative is of a technological or futuristic nature;
- A UAE-accredited business incubator to launch the planned activity in the nation.
UAE Golden Visa Costs
Like others, the cost of the UAE Golden Visa depends on your situation and chosen application route. For instance, athletes, creative specialists, executive directors, investors, scientists, outstanding students, and doctors would all pay:
- Golden Visa 10 years
Residency fees: between AED 2,800 to AED 4,800, depending if you are currently in the UAE or not;
ID fees and medical examination: approx. AED 1,000 + additional administrative costs.
- Golden Visa 5 years
Residency fees: approx. AED 2,280;
ID fees and medical examination: AED 575 + additional administrative costs.
However, a retired foreigner may be given a Golden Residence Visa for five years without needing a sponsor, with the possibility of renewal. A bank letter with a deposit value or income of AED 15,000 or real estate ownership of AED 1 million would be required.
The cost of a Golden Visa for Retired Foreigners is as follows:
- Golden Visa 5 years
Residency fees: AED 2,280;
ID fees: AED 575.
An entrepreneur who owns an economic project of a technical or future nature based on risk and innovation can be granted a Golden Residence Visa for five years with an approval letter from Dubai Future Foundation.
Golden Visa cost for entrepreneurs:
- Golden Visa 5 years
Residency fees: AED 2,280;
ID fees: AED 575.
Furthermore, as with any other Golden Visa, you will be required to provide standard documents, including:
- Personal photo;
- Certificate of medical insurance;
- The accessibility of a digital copy of the title deed certificate;
- Marriage certificate;
- Emirates ID.
Note: The fees are accurate at the time of posting the article; however, our service fees are applicable on top of the administrative fees listed above.
UAE Golden Visa Tax Considerations
In the United Arab Emirates, residents are not required to pay taxes on their income, capital gains, inheritance, gifts, or properties. In addition, there is no tax on corporate profits; however, starting in 2023, a 9% tax will be imposed on companies that earn a profit of AED 375,000 (US$102,000) or more.
Alternatives to UAE Golden Visa
The United Arab Emirates' capital, Abu Dhabi, has been named the safest city in the world for six years in a row and is an excellent location for living, working, and investing due to the city's unrivalled way of life, extensive cultural offerings, and diversified population.
Abu Dhabi’s Golden Visa is an option for investors and entrepreneurs looking for a long-term visa to enjoy the advantages of the UAE.
The Abu Dhabi Golden Visa is offered to people from across the world who have exceptional skills and are working, learning, excelling, or investing in critical industries. There are many high-growth sectors in Abu Dhabi, which provide possibilities for bright people to develop their careers, accomplish their goals, and be successful in the emirate.
Investors and entrepreneurs may apply for permanent residence in Abu Dhabi via the Golden Visa, which has a validity period of up to 10 years and provides a variety of visa choices for professions such as inventors, real estate investors, entrepreneurs, and more.
Abu Dhabi Golden Visa for Investors
For investors, Abu Dhabi has two options: the standard investor visa and a real estate investor visa.
Non-Real Estate Investors
Abu Dhabi Golden Visa for investors is for ten years and is ideal for those who engage in non-real estate projects, and businesses in Abu Dhabi are eligible for the Golden Visa program, which provides residency for investors and their families, as well as one adviser and one executive director.
Non-real estate investors require either a deposit or a business with a minimum worth of AED 2 million.
The other option is proof of AED 250,000 tax payment per year for the two years before the application. For instance, the investor must provide documentation of paying AED 250,000 per year if they control 25% of a firm that pays AED 1,000,000 in taxes to qualify for the visa.
For a fixed deposit:
A declaration from a UAE-licensed investment fund or national bank confirming a two-year deposit of at least AED 2 million.
Investors in a company or partnership
- A valid firm trade license to prove incorporation or share ownership;
- Commercial Registration Certificate (CRC) showing current paid-in capital and ownership stakes by each investor;
- A letter from a bank or investment fund certifying that at least AED 2 million has been placed as capital or the value of the share in the firm;
- A copy of the firm's or business's commercial register shows that neither the company nor the investor's stake in the company is subject to any legally mandated proportions for corporate investors.
Investors with tax settlement evidence
- A legitimate business trade license to demonstrate that the firm has been formed or the investor's share ownership;
- A CRC proves the amount of money invested in the firm and the percentage of ownership held by each investor;
- Tax Return Form demonstrating that taxes totalling at least AED 250,000 were paid in the two years before the visa application;
- Tax receipts for taxes that have been settled.
Real Estate Investors
The Abu Dhabi Real Estate Investor Golden Visa is for 5 years and is suitable if you want to invest in or own property in Abu Dhabi. The visa extends to the principal applicant’s spouse and children.
Investors are eligible, provided they meet the following requirements:
- Must own real estate that has been acquired for a minimum of AED 2 million;
- Must keep the investment for at least two years after receiving the Golden Visa.
One of the following is required to prove full ownership of a property:
- A purchase agreement for a real estate unit with a value of at least AED 2 million must be recorded with the Department of Municipalities and Transport (DMT) or another competent body in charge of real estate registration in the UAE;
- Real Estate Unit Value Certificate provided by the DMT or any other authorized organization in charge of real estate registration in the UAE.
For mortgaged real estate:
Real Estate Unit Value Certificate from DMT or another UAE real estate registration authority. In addition, you are required to provide a search certificate from the DMT or other UAE real estate registration authority stating that the property is not susceptible to judicial seizure and is worth at least AED 2 million.
Off-Plan real estate:
A purchase agreement from a developer on the authorized list attesting to the landlord's details, the property's condition, and the unit's purchase price. On top of evidence indicating no less than AED 2 million in payments have been paid to the real estate developer.
Abu Dhabi Golden Visa for Entrepreneurs
The Global Entrepreneurship Monitor (GEM) named the UAE first in its Global Entrepreneurship Index 2022. If you wish to relocate your business to Abu Dhabi, you may sponsor yourself, your family, and your workers with a long-term visa for 10 years.
You are eligible if you meet the following criteria:
- You are an owner or partner who has secured authorization from an authorized business incubator, the Ministry of Economy, ICP, or a competent local government to launch the planned activity in the UAE for the idea of a pioneering company initiative.
- A pioneering business project owner or partner in a Ministry of Economy, ICP, or competent local authority-approved sector. The business initiative must be categorized as an SME with a minimum annual turnover of AED 1 million.
- To have started, or to have been a founder of, a prior pioneering project(s) that, with the consent of the Ministry of Economy or ICP or a relevant local government, sold for a total of no less than AED 7 million.
A trade license, financial or social certificates (required by Hub71 and Ma'an, respectively), audited financial statements for the past two years, company profile/deck, LinkedIn profile, and nomination issued by a business incubator in the UAE are all required for an owner or partner in a pioneering project.
For entrepreneurs with a viable pioneering project concept, a nomination letter for a business incubator, the founders' LinkedIn profiles, overview decks of their firm ideas, acceptance letters from incubators, venture studios, or accelerator programs, and trade licenses (if available).
Lastly, for a founder (or founders) of a previous pioneering project, a nomination issued by a business incubator in the UAE, trade license of an earlier project, founders/co-founders’ LinkedIn profiles, proof of company being sold for AED 7 million and new owner full name or LinkedIn profile (if applicable).
An innovation hub, booming cultural and entertainment landscape, and home to one of the most stunning buildings in the world, UAE is regarded as a top destination not only for tourists but also for investors, entrepreneurs, and highly affluent individuals and their families.
Do not miss this unique opportunity and apply for one of the most sought-after Golden Visas in the world with the help of the High Net Worth Immigration team! Book a free consultation today!