Dubai: Interested in applying for a long-term 'Golden visa' but not sure how to start the process? Here is all you need to know about it.
Following the massive demand for longer residency options in the UAE, the Federal Authority for Identity and Citizenship launched a new website in December 2019 allowing people to apply for a golden visa. On November 15, 2020, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, announced a decision to grant the 10-year golden visa to residents in the following categories: all PHD holders, all physicians, engineers in the fields of computer engineering, electronics, programming, electricity and biotechnology, top achievers of accredited universities in the country scoring 3.8 GPA and above. The golden visa will also be granted to holders of specialised degrees in artificial intelligence, big data, or epidemiology and viruses in addition to high school top achievers in the country along with their families.
What is the golden visa?
The golden visa offers residency for five or ten years, as opposed to the standard two-year residence visa. The Business Visa is part of the Golden Visa system for permanent residents and foreigners to obtain a long-term visa for themselves and their dependents. This may include your mother and father, based on a number of specified conditions by the Federal Authority for Identity and Citizenship.
The Business Visa is based on the idea of permanent residency, given that the applicant complies with the terms and conditions at each renewal cycle (every five years).
The Golden Residency Visa or Gold Card visa process started on May 21, 2020, and the General Directorate of Residency and Foreigners Affairs (GDRFA) announced a target of 6,800 golden visas to be given out by the end of the year.
The Gold Card has three categories as per decree No. 56 of 2018 regarding regulation of residency permits for investors, entrepreneurs and special talents issued by the Council of Ministers.
Investors investing at least Dh10 million would qualify for 10-year visas, while entrepreneurs and special talents would be entitled to five-year residency.
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Who can apply for it?
Professionals with entrepreneurial experience from around the world are eligible to apply for the Business Visa. An eligible entrepreneur is anyone who has set up a business of their own at some point in their careers, and wishes to do so again in the UAE. To obtain the Business Visa, you must:
• Be able to substantiate your experience as an entrepreneur.
• Have been a majority shareholder of a startup or a member of its senior leadership.
• Be willing to relocate to the UAE and legally establish a business in one of the Emirates.
• Have a business idea or business plan that you wish to bring to life in the UAE.
How can I apply for it?
The newly launched website is: https://business.goldenvisa.ae/
Step 1 - Login/Register
You will need to enter your email address and create a password. You will then receive a verification code on your email address.
Step 2 - Enter personal details
You would then be required to fill in your personal details and upload the necessary documents.
Step 3 - Submit application
Once you have submitted the application, the review will take approximately 30 days.
Approval of the nomination does not mean that you will definitely get the visa. It simply implies that you have qualified for the visa, after specialised committees review the application and the attached documents.
Step 4 - Complete the visa requirements
Once your nomination has been approved, you will need to complete the requirements of the Federal Authority for Identity and Citizenship, which can take up to an additional thirty days.
You will then receive an email with further instructions on how to receive your visa.
If you are currently residing outside of the UAE, you will be given a six-month visa to enter the UAE, explore the opportunities, and settle. During this period, you will be required to convert your temporary visa into the residency permit.
If you are currently residing within the UAE, you will be given a temporary one-month visa, and will be required to convert your temporary visa into the residency permit during this period.
In both cases, you can convert your one- or six-month visas into the residency quickly and conveniently at SERVICES 1 in Emirates Towers, Dubai, United Arab Emirates; or, directly through the Federal Authority for Identity and Citizenship.
How can I follow up on my application?
As this visa focuses on entrepreneurs, there authorised incubators in Dubai and Abu Dhabi that deal with the application.
If you are applying for residency in Dubai, you can contact AREA 2071 by emailing firstname.lastname@example.org.
If you are applying for residency in Abu Dhabi, please contact HUB71 by emailing email@example.com.
For matters relating to your application for the visa, please contact the Federal Authority for Identity and Citizenship
- Information courtesy www.business.goldenvisa.ae