Now, a 10-year UAE golden visa for luxury yacht owners

Abu Dhabi: Luxury yacht owners can now be nominated for a 10-year UAE golden visa under the new ‘Abu Dhabi Golden Quay’ initiative.

The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi), in collaboration with Abu Dhabi Investment Office and Yas Marina, said the initiative aims to attract investment in the emirate from high-net-worth individuals.

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Yas Marina and Abu Dhabi Investment Office will serve as official entities responsible for nominating private yacht owners with vessels 40 meters or longer for the golden visa. The programme also includes key executives in the yachting sector, shareholders of yacht-building companies, major agents, service providers, and insurers. Additionally, family members of nominated individuals will also be eligible for golden residency.

More details are available on the initiative’s website (www.goldenquay.ae).

The announcement follows DCT Abu Dhabi’s participation at Monaco Yacht Show as part of the UAE Pavilion, where the emirate was promoted as a preferred luxury yachting destination.

Saleh Mohamed Al Geziry, Director-General of Tourism at DCT Abu Dhabi, said: “We continue to enhance the extraordinary experiences offered to yacht owners in Abu Dhabi, providing them with seamless access to our state-of-the-art marinas and marine facilities, along with exclusive benefits such as the 10-year golden visa. This initiative reinforces Abu Dhabi’s position as a global luxury yachting capital.”

Hareb Al Mheiri, Executive Director of the Abu Dhabi Investment Office, said: “The initiative allows luxury yacht owners to enjoy the unique advantages of Abu Dhabi’s premier marinas and rich cultural environment. This initiative reinforces our commitment to engaging with diverse investors to contribute to our dynamic economy, aligning with the emirate’s vision for sustainable tourism growth in Abu Dhabi, the region’s most livable city.”

Jonathan Brown, Chief Asset Officer at Miral, said: “Extending golden visas to yacht owners at Yas Marina and industry executives further positions Yas Island as a global hub for leisure and entertainment. Yas Marina plays a pivotal role in the success of this initiative with its award-winning facilities, capacity to host mega yachts, and world-class dining, fitness, and recreational amenities.”

According to the 2024 Henley & Partners Private Wealth Migration Report, the number of individuals with wealth exceeding $1 million residing in the UAE reached around 116,500, including 308 individuals with wealth exceeding hundreds of millions and 20 billionaires.