The United Arab Emirates (UAE) has eased its visa norms, making it easier for foreigners to buy properties and live there for the long term.
The new rules, introduced in April 2022, particularly related to the UAE’s Golden Visa, provide long-term visas to foreigners without the need for a national sponsor. Earlier, foreigners could only stay in the UAE if they had an Emirati sponsor.
The new rules will officially come into effect this September.
Why is the Golden Visa important?
Golden Visa holders can stay in the UAE for 10 years. They can also enjoy some “exclusive benefits” under the new system. They can sponsor family members, including spouses and children, regardless of their age. The Golden Visa will be issued for 5 or 10 years and will be renewed automatically.
There is no restriction on the maximum duration of stay outside the UAE to keep the Golden Visa valid. Earlier, visa holders had to return to the UAE every six months if they traveled abroad.
If the original holder of the Golden Residence visa dies, his or her family members can stay in the UAE until the permit expires. Golden Visa holders will also receive an exclusive government-issued discount card, called the Esaad card. They can avail of discounts on the purchase of cars, insurance plans, dining, stay, and spa treatments.
Who is eligible to apply for a Golden Visa?
Investors, entrepreneurs, and researchers in various fields of science and knowledge are eligible for the Golden Visa. Bright students with promising scientific capabilities are also eligible for the Golden Visa. Scientists can get the Golden Visa based on a recommendation from the Emirates Scientists Council. Entrepreneurs can also get a 10-year residence visa by investing in a startup in the UAE.
People can also own their dream home in Dubai if they have a minimum monthly salary of AED 50,000 or a fixed deposit of AED 2 million in a local bank for two years.
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