What is the UAE Golden Visa and Its Key Benefits?

The UAE Golden Visa is a 10-year residence permit designed for foreign nationals, allowing them to live, work, or study in the UAE. This visa offers an initial six-month multi-entry access and does not require a local sponsor or continuous residency to remain valid. The Golden Visa is available to various individuals, including scientists, athletes, entrepreneurs, and those with exceptional crisis management skills.

Key Benefits of the UAE Golden Visa

1. Long-Term Residency: The Golden Visa provides a decade-long residency with the potential for renewal, offering stability and security for expatriates.
2. Family Sponsorship: Visa holders can sponsor their family members, including spouses and children, as well as domestic helpers.
3. Exclusive Privileges: Golden Visa holders receive Esaad privilege cards, granting discounts across the UAE and in 92 other countries.
4. Special Benefits for Abu Dhabi Residents: These include property discounts, reduced mortgage rates, and lower health insurance premiums.
5. Benefits for Dubai Residents: Dubai residents can obtain a UAE driving license without additional lessons if they have a license from an approved country, and expatriate students receive educational discounts.

5 Benefits of UAE Residency by Investment

1. Unrestricted Access: The Golden Visa allows expatriates to relocate and live in one of the world's most prosperous countries, with the freedom to enter the UAE at any time, regardless of border closures.
2. Safety: The UAE ranks highly on the World Safety Index, offering a secure environment for residents.
3. Favorable Tax Regime: The UAE is known for its tax advantages, including exemptions on income, capital gains, and inheritance. While a 9% corporate tax applies from January 2023, many investors can mitigate tax obligations through Free Zones.
4. High-Quality Education: The UAE's universities are globally recognized, with 11 institutions featured in the QS World University Rankings 2023.
5. Diverse Entertainment and Shopping Options: The UAE offers iconic tourist attractions like the Burj Khalifa and Sheikh Zayed Mosque, catering to all interests.

Additional Advantages for Real Estate Investors

1. High Returns: Investing in UAE property can yield substantial returns, with a 4.4% increase in real estate prices in Q2 2022.
2. Tax Benefits: The UAE does not impose income tax on rental income or levies on gifts and inheritance. Property owners are only liable for a portion of the transfer fee during a sale.
3. Strict Regulations and Golden Visa Eligibility: The UAE's stringent property regulations provide an avenue for obtaining a 10-year Golden Visa, applicable to various property types.

How to Obtain a UAE Golden Visa

To acquire a 10-year UAE Golden Visa, investors must purchase real estate valued at AED 2 million (approximately $540,000). Married couples can jointly own a property worth at least AED 1 million ($272,000). Required documents include a passport, birth certificate, marriage certificate, certificate of non-marriage for children over 18, a no criminal record certificate from the home country, a UAE Good Conduct certificate, health insurance, a Medical Fitness Certificate, a recent photo, and the current UAE visa.

The process involves several steps, from preliminary due diligence to document preparation, property purchase, medical examination, and finally, Golden Visa acquisition. The visa is typically granted within two months.

UAE Citizenship Through the Golden Visa

While the Golden Visa can be renewed multiple times, obtaining UAE citizenship through this route is challenging and typically requires at least 30 years of residency. For those interested in a second passport, programs in European countries like Portugal, Cyprus, and Greece offer residency followed by eligibility for citizenship in 5–7 years. Malta also provides a naturalization route through direct investment, starting from €690,000.

Interested in UAE Residency?

At Sanctuary, we offer comprehensive services to help you navigate the UAE Golden Visa process and other residency options. Whether you're looking to invest in property, establish a business, or secure a long-term visa, our team of experts is here to guide you every step of the way.

Visit Sanctuary for more information and start your journey to a prosperous life in the UAE today.