Golden Visa holders
The UAE Golden Visa is a long-term residency programme for investors, talents, and entrepreneurs that allows them to live and work in the emirate. The programme offers a variety of benefits for the holder and their family, including access to quality healthcare, education, banking services, and ease of travel between Gulf countries. The programme has been designed to encourage foreign investment and strengthen Dubai’s economy.
The UAE’s world-class infrastructure, state-of-the-art technology ecosystem, and advanced medical facilities are attractive for professionals and entrepreneurs alike. Moreover, the UAE’s location offers unparalleled connectivity to major global markets. As such, the UAE has become a global magnet for talent and business. The Golden Visa programme provides unparalleled opportunities for business and career growth in a competitive and innovative environment.
Applicants are initially granted a six-month visa to enter the country and explore the opportunities on offer. This is followed by the conversion of this visa into a residency permit. Once the holder has a residency permit, they are free to live and work anywhere in the UAE. However, if they wish to relocate to another emirate of the UAE, they must secure a separate visa from that emirate.
Can Golden Visa holders work in any industry in Dubai?
In order to qualify for a Dubai Golden Visa, applicants must invest at least AED 10 million into the UAE economy. This may be done through a combination of assets, such as real estate, shares, or funds. Applicants must also demonstrate that they have significant financial assets outside the UAE, as well as a proven track record of successful investments.
Among the most popular options for Golden Visa holders to invest in is real estate. The UAE property market is one of the most regulated in the world, and the country is home to some of the most expensive real estate in the world. Applicants can purchase commercial and residential properties, such as apartments, villas, townhouses, and office space. They can also invest in commercial or agricultural land.
Successful Golden Visa applicants from abroad are allowed to bring along their spouse, children, partner, and three executives. In addition, they are allowed a multi-entry visa that is valid for ten years.
In recognition of their hardwork and dedication, the UAE government is granting frontline heroes a permanent residency under the Golden Visa scheme. This includes nurses and doctors, who have been the backbone of the UAE’s COVID-19 fight. Those who have received an appreciation award from a humanitarian organisation are also eligible for the golden visa.
In terms of employment, the employer’s obligations towards an employee holding a Golden Visa are similar to those of employees with a normal work permit. They must pay a gratuity to the employee and meet other requirements as set out in Article 13 and 16 of the Employment Act. Furthermore, the employee is protected against termination without cause and a one-year employment ban. The employer must also provide health insurance for the holder and their family. The insurance must cover at least AED 150,000 per year.
