Long-term residence visas in the UAE
A high standard of living, good ecology, high-quality medicine and favorable tax conditions attract millions of foreign specialists and businessmen to the UAE. The population of the Emirates is 9.77 million people, 85% of whom are foreigners. In 2019, the local authorities launched the Golden Visa program for high-profile professionals, talented scientists, entrepreneurs and investors from abroad. Five-year and ten-year resident visas (analogous to a residence permit) have appeared due to this initiative. Everything is fair: the country receives an influx of capital and brains, and foreigners get the opportunity to move to the UAE, increase their savings, build a career or business.
Program's details
- $1,35 million minimum investment
- Returnable investment potentially profitable
- For the whole family spouses, children, parents
- The right to live in the UAE in any emirate
- No restrictions for study, work and business
- Simple procedure applications are considered up to 30 days
- Low taxes for the UAE residents
- Sunny weather all year round
The official website of the program
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About the Program
There is no concept of "residence permit" and "permanent residence permit" in the legislation of the United Arab Emirates. Residence visa is comparable to a residence permit in terms of functionality. A foreign investor can obtain a long-term residence permit in the UAE for investments in real estate, investment funds or business.
Investors, who are ready to invest significant capital in the UAE economy, are eligible for a "golden visa" and can move to a country with their families. A contribution starting from 5 million dirhams ($ 1.35 million) makes it possible to request a five-year resident card, from 10 million dirhams ($ 2.72 million) - a ten-year one. Any of the long-term visas can be renewed multiple times.
Investments in real estate, funds and business are returnable and potentially profitable. For example, a five-year resident card obliges you to keep your real estate investments for at least three years. Other types of investments must remain in the local economy until the investor decides to move and cancel (not renew) the resident visa.
It is important to note that long-term residence in the Emirates on the basis of "golden visas" does not give the right to local citizenship. An applicant for a passport must not only speak Arabic at a good level, but also prove family ties with the UAE or the countries of the Gulf Cooperative countries and also convert to Islam. If successful, it will not be possible to keep the first passport: the local authorities will not recognize the second citizenship. In practice, cases of granting citizenship to foreigners are rare.
Investment Options
- $1,35 mln (AED 5 mln)
Resident visa for 5 years
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To obtain a visa, the following conditions should be met:
- The applicant should buy a completed real estate object (or 2-3 objects) with an estimated value of 5 million dirhams or more
- Freehold ownership
- No mortgage and loans
- Keep in assets for at least 3 years
- The investor should not be financially responsible for claims
- His fortune must exceed 10 million dirhams (2.72 million)
- $2,72 mln (AED 10 mln)
Resident visa for 10 years
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To obtain a visa, the following conditions should be met:
- The applicant should create a local company/partnership with a company in the Emirates / invest in an investment fund in the UAE
- If investing in business, then the company's activities should be performed in the UAE (offshore companies are not suitable)
- Without using credit funds
- Part of the capital may be invested in real estate, up to 40% of the total investment amount.
Resident visas in the UAE are available not only to investors, but also to valuable specialists (outstanding doctors, scientists and engineers), managers, businessmen, start-ups, as well as students with excellent academic performance. Also, owners of real estate with the estimated value of 1 million dirhams ($272,000) are eligible to obtain resident visas for 6 months or 2 years. Please contact the immigration consultants for details.
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Residence Permit for Family Members
The relatives can receive a residence permit: spouse and children, parents can receive a residence permit together with the investor. Only the investor gets the right to work. An investor can apply for a visa for relatives within 60 days after arriving in the UAE.
A spouse
In an officially registered marriage.
Children
Dependent on the investor.
Parents
If the investor finances the parents' relocation to the UAE and their residence.
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Requirements to the investor
- The investor should be over 21 years old
- There should be no criminal record
- Medical certificate (about the absence of infectious diseases and compliance with health criteria) is obligatory
- There should be successful due diligence
- There should be accomodationg in the country owned or rented
- There should be Medical insurance certificates for all family members
- Financial sufficiency is also important: minimum monthly income should be 10,000 dirhams (about $2,700) and 20,000 dirhams ($5,400) if they sponsor dependent parents.
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Documents
Depending on the reason for moving, the set of documents may vary. All lists are presented on the website of the Federal Agency for Identity and Citizenship (ICA).
Those who have violated the conditions of stay in the UAE, have a criminal record, or are wanted by Interpol and other international police structures can be denied a "gold card".
Main package
- Application form
- Medical insurance
- Marriage certificate
- Birth certificates of the children
- 4 pictures
- A copy of the applicant's passport
- Valid international passport
- Current visa status / copy
- Utility bill to confirm residence
- Summary
- UAE Police Good Conduct Certificate
- confirmation of passing the Due Diligence
Financial documents
- Confirmation of the source of income in the UAE
- Bank statements on account status
- Real estate ownership title or long term lease
- Documents confirming investments in the UAE economy
- In case of investments in business, the documents confirming the investments, as well as the license
- Receipts of payment of visa fees
Additional Expenses
- State fees
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Application processing fee:
- AED 1,150 ($310) for a 10-year visa
- AED 650 ($180) for a 5-year visa
- For a family, the fee will be from AED 3,500 ($950)
Visa application:
from AED 15,000 ($4,100)
- Administrative fees
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Legal services, tax advice: from $500-600 per hour
Translation: from $20 per page
Certification of documents:
- individual property - from $50 per document;
- commercial property - from $600 per document
- Insurance and license
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Compulsory medical insurance: from $500.
The investor is obliged to provide insurance not only for himself, but also for dependent family members.
If the investor has invested in business, then the license will cost at least AED 15,000 ($4,100).
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Rights and Obligations
The holder of a resident visa in the UAE has the right:
- To legally live in the UAE until the expiry date of the resident card; then the document can be extended
- To be outside the UAE up to 6 months a year
- To bring his family to the Emirates (if the investor meets the financial criteria)
- To open an account with a local bank
- To send children to study in a public or private school, university
- To get access to public and private health services
- To optimize taxes
- To live, work, do business, study in the UAE
- To buy a car, get the local license
- To take out a mortgage on more favorable terms than a non-resident
The holder of a resident visa in the UAE is obliged:
- To become a tax resident in the UAE
- To stay in the UAE for at least 183 days a year
