Exploring the Different Categories of the UAE Golden Visa

The United Arab Emirates (UAE) has been known for its vision and exceptional leadership, which puts the country among the top business-friendly destinations in the world. To further attract highly skilled individuals and investors, the UAE government recently introduced the Golden Visa program. The Golden Visa is a long-term residency program that grants eligible individuals the right to live, work and study in the UAE without the need for a national sponsor. In this article, we will explore the different categories of the UAE Golden Visa and what sets them apart from each other.

From investors to students, researchers, professionals, and entrepreneurs, the UAE Golden Visa comes in multiple categories, each with its unique eligibility criteria. Let's begin by reviewing the Investors category.

Investors

The Investors category is for individuals who have made significant investments in the UAE. The investment can be in various sectors, including property, real estate development, business set up, or deposit in a UAE bank. The minimum investment amount is around AED 10 million ($2.7 million) for property investment or business setup. The property purchase within UAE has to be held for at least three years. A UAE bank deposit, on the other hand, will require the money to be held in the bank account for at least three years.

Entrepreneurs

The Entrepreneur category is for individuals who want to set up a business in the UAE. The business idea must be innovative, feasible, and contribute positively to the economy. Such innovative ideas should add value to the UAE economy, create job opportunities for Emiratis, and demonstrate clear financial projections to support their business.

The entrepreneur must also present a detailed business plan in front of a special committee, outlining products or services provided, market analysis, demand forecasting, and other relevant financial and operational details. Upon approval, the entrepreneur will be granted a Golden Visa for a period of five years, this category can be further extended on expiry.

Outstanding Students

The Outstanding Students category targets high-achieving students who have demonstrated excellence in their academic pursuits. To qualify for the Golden Visa, such applicants must have excellent academic records, be currently studying at a recognized educational institution within the UAE or abroad, and have a minimum Grade Point Average (GPA) of 3.8.

The Outstanding Students category aims to retain highly talented minds in the UAE, positioning the country as a destination that fosters academic excellence.

Professionals

The Professionals category is for individuals who have exceptional skills and are specialists across various sectors such as science, medicine, engineering, or art. To qualify for a Golden Visa, such applicants need to meet specific requirements that include a minimum of ten years of experience in their field of specialty. They must have a proven track record in their respective fields, including publications, patents, and other awards.

This category targets individuals who are internationally recognized for their accomplishments in their fields, and those the government and country seek to retain through a long-term residency permit.

Researchers and Innovators

Finally, in the Researchers and Innovators category, the UAE government aims to attract the world's best researchers and innovators who have demonstrated a significant contribution to science, research, and other innovative solutions.

This category requires that the applicant demonstrate extensive knowledge and achievements in their field of specialty and provide evidence of their research or innovation projects' results.

Conclusion

The UAE Golden Visa, launched in 2019, aims to attract highly skilled individuals and investors to the UAE, promoting the country as a hub for talents, innovations and investments. With the various categories of the Golden Visa, the UAE captures diverse individuals from different backgrounds and skill-sets, making it a unique offer compared to visa programmes from other nations. By securing a Golden Visa, the individual will also be able to extend his long-term investment in the UAE, and what has become a proven strategy for many medium-term careers and more long-term financial goals. Investing in one of the largest and safest economies in the Middle East could offer numerous opportunities for growth, access to a vibrant lifestyle, and much more. Regardless of one’s purpose for a Golden Visa, the benefits of being among the chosen few are then obtainable.