The UAE’s Golden Visa and Residency Programme (GV&RP) was launched in 2018 to tap into the huge potential of global investors. The visa essentially lets you become a resident of the UAE by only making one sizable investment, expelling the need to rely on other factors like employment, which many countries require. Dubai is the first place after Tunisia to launch the Golden Visa Scheme in the Middle East. This residency program is for global investors who bring in their significant investments and money into Dubai. Now, this is interesting because although each country has its own constitution, rules, and regulations, the UAE can be seen as a sort of customs union, and thus, businesses or investors from one country can invest in another under the same conditions.
Why is the new golden visa a big deal?
The New Golden Visas are a big deal because they offer the opportunity for those who want to live in the UAE to obtain a residence visa without having to invest in real estate. The new visa is also an incentive for foreigners to invest their money in the UAE and create jobs and could lead to more development in Dubai and other parts of the UAE.
There are a few conditions attached to this visa which are as follows:
- The investor must invest a minimum of AED 2M into an approved investment vehicle. This can be done either by purchasing shares or investing in bonds issued by a company registered in the UAE.
- The investor will get a 10-year residency.
Who can apply for the Golden Visa?
The minimum amount required for each type of investment is set by the federal law but can be increased depending on the investor’s nationality and the location of his residence in the UAE. also One must be at least 18 years old, have no criminal record, and meet all other requirements set out by law. You must also submit all required documents including copies of your passport and residence visa, which will be verified by the gdrfad and Ministry of Interior.
What are the benefits of getting the UAE Golden Visa?
The good news is that there are plenty of benefits to getting your own UAE Golden Visa. Here are some of them:
- Permanent residence in Dubai or Abu Dhabi, depending on which emirate you choose as your home base.
- Access to local health care services and education for children under 18 years old
- Tax exemption for non-Emiratis on their income earned outside the country: The UAE offers tax exemption on all income earned outside the country by non-Emiratis for up to five years after obtaining their work permit or residence visa. In addition, any capital gains from selling real estate assets in Dubai will not be taxed at all during this period. This means that you can invest money in Dubai real estate without it being subject to any taxes at all!
- No requirement for medical check-ups when entering UAE.
If you are looking to invest in Dubai, we can help you get a golden visa. We offer assistance in obtaining a residency permit for investors and their families. We will provide you with all the necessary documents and paperwork so that you can become a resident of the UAE. In addition to this, there are other things that you need to consider when setting up a business in Dubai such as buying shares in companies or forming partnerships with other companies so that they can help you with some aspects of running your business such as marketing, distribution, etc. contact us today!
