Exciting news – UAE has launched the permanent residency program “Golden Card” issuance to:
- specialised talents,
- outstanding Students.
In the first phase 6800 qualified individuals will be eligible for this program.
Along with travel benefits for GCC residents in terms of travel, the status that comes along with UAE residence, along with your family members, and the right to do business or buy property, the program also allows to manage tax burdens when you decide to become a UAE tax resident. For existing investors this program creates more opportunities for stability and long-term strategic planning.
This was an important step for the UAE economy and made mainly to attract more foreign direct investments and ease the administrative burden as well as long term prospects for talented individuals in different professions such as scientists, engineers and artists.
Whether you are an existing businessmen, highly-qualified professionals, entrepreneur or exceptional academic you will be eligible to obtain the Golden Card.
The UAE expects the permanent residence program to add value in the long term: economic growth, business reputation and attracting new talent which will bolster it’s SME sector giving it a much needed virtuous cycle diversifying from the real estate sector.
Furthermore the UAE already offers long-term residence visas valid for 5 to 10 years for property investors, people with exceptional talents and entrepreneurs without a local sponsor.
The general requirement for investors to obtain 10 years residence visa is a minimum investment of AED 10M such as:
- A deposit in an investment fund inside the UAE
- Incorporation of a company with a capital no less than AED 10M
- Being a partner in an existing or a new business with a share total value not less than AED 10M or
- Having a total value of investments not less than AED 10M in all above mentioned areas with a main condition that the investments other than real estate is not less than 60% of the total investment.
The long-term visa can include also the spouse and children, as well as one advisor or executive director.
Investors can obtain for a 5 year residence visa with the following requirements:
- To invest in a property not less than AED 5M
- The invested amount must not be on a loan basis
- The property must be retained min 3 years.
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