UAE Golden Visa – Residency Program for Professionals 2022

Foreign nationals and their dependents may apply for and receive a long-term visa in the UAE through the Golden Visa System for a UAE business visa. Entrepreneur who has operated their own business at some point in their career and intends to launch another one in the UAE qualifies for this visa program.

What is a UAE business visa?

A UAE business visa is a type of visa for international business owners who want to start up operations there. Entrepreneurs can apply for and be granted a long-term visa under this Golden Visa System program for themselves and their dependents. The main goal of implementing this visa program was to stimulate the UAE’s economic growth by fostering an atmosphere that would appeal to potential business owners.

Rates

A 10-year and a 5-year validity are included with the long-term residency visa for the UAE.

The cost of a 10-year visa is only 1150 AED, compared to 650 AED for a 5-year visa.

The entrepreneur is not required to provide the government with any money as part of this visa program. If a person invests 5 million AED or more in a UAE property, they will be given a 5-year residency permit. A 10-year residence permit, however, is only granted to those who have accomplished any of the following:

• Made a deposit of 10 million AED or more in any investment fund situated in the UAE; OR
• Started a business in the UAE with a capital of 10 million AED or more; OR
• Acquired shares with a partner firm worth at least 10 million AED; OR
• A total investment of at least 10 million AED in any of the aforementioned sectors, subject to the requirement that sector investments (apart from real estate) make up no less than 60% of the total investment.

UAE Business Golden Visa Requirements

Entrepreneurs of any nationality who have prior entrepreneurial experience are able to apply for a business visa. Anyone who has started a business during their career and wishes to start one in the UAE is regarded as a suitable entrepreneur for this visa.

The candidate must: in order to submit an application for this visa.

Prove their experience as an entrepreneur

• Have been in top leadership positions or as a significant shareholder in a start-up
• Agree to relocate to the UAE and lawfully establish the firm in any of the seven Emirates of the UAE
• Have a plan for the business you want to start in the UAE.

Additionally, candidates must agree to a health evaluation and background check and meet all other conditions outlined by the Federal Authority for Identity and Citizenship (FAIC). However, just because a person meets the requirements for a business visa does not mean that they will be granted one. A specialized committee that evaluates the application and all related documentation grants approval to provide a business visa. After being granted a business visa, the applicant must follow the guidelines established by the FAIC in order for the visa to be provided.

How to apply and process for UAE Golden Visa

The person must have a nomination that has been authorized by an incubator supported by the UAE government in order to apply for a business visa (currently, AREA2071 in Dubai and HUB71 in Abu Dhabi). Following the approval of your nomination, you will be asked to submit an FAIC application for a visa. The following details the nomination process:

• Fill up the form below and we will sen you instruction
• Apply for nomination after your account has been validated by logging in.
• Submit your application after it is complete, then wait for it to be reviewed. The evaluation procedure could take up to 30 days.

Note:

• In the event that your nomination is accepted, you will receive a link where you may submit the required supporting files and finish your golden visa application.
• If your nomination is rejected, kindly reapply 90 days later
• If your nomination is accepted, you will be given the opportunity to submit your visa application online at the FAIC website. Following submission, you will receive an email with instructions on how to obtain your visa. If you currently reside outside of the UAE, you will be granted a six-month visa to enter the country, get a feel for it, and establish yourself. Prior to the temporary visa’s six-month expiration, you must convert it into a resident permit. If you filed for this business visa while residing in the UAE, you will be given a temporary visa good for one month that you can convert to a residency permit before it expires.
• In either case, you can easily change your temporary visa into a resident permit by going through the FAIC or SERVICES1 in Dubai’s Emirates Tower.

Benefits

Following the issuance of the business visa, the applicant is permitted to:

• Enter the UAE for a period of six months with a multiple entry visa to speed up the business’s establishment processes.
• Nominate up to three senior employees of his company for residency.

Alternative options

If you want to visit the UAE before submitting an application for a business visa, you can do so with a single-entry UAE visa valid for 30 days, 90 days, or multiple entries. If an extension is required, there are several options, including doing it without leaving the UAE. There are not many documents needed, and the processing time for visas ranges from 24 to 48 hours.