Investor Visa vs. Golden Visa in Dubai: Understanding the Key Differences

 I am holding an investor visa in a mainland Dubai-based company and plan to buy a new house to make me eligible for the Golden Visa. What happens to my investor visa if I decide to get the Golden Visa?

 As an individual holding an investor visa in a mainland Dubai-based company, the prospect of obtaining a Golden Visa is undoubtedly enticing. The Golden Visa offers a pathway to long-term residency in the UAE, providing a host of benefits and privileges to its holders. However, the decision to pursue a Golden Visa raises questions about the status of one's existing investor visa and the implications of transitioning between the two.

 In the context of transitioning from an investor visa to a Golden Visa, it is important to note that the Golden Visa is typically granted based on specific criteria, such as property ownership. Therefore, if you decide to purchase a new house in Dubai to meet the eligibility requirements for the Golden Visa, it is likely that your investor visa will be affected.

 In most cases, obtaining a Golden Visa would supersede your existing investor visa, as the Golden Visa represents a higher level of residency status in the UAE. This transition may involve the cancellation or modification of your investor visa, as you would no longer be solely reliant on it for your residency rights in the country.

 Once you acquire your Golden Visa, you are granted a 6-month visa to enter the country before getting residency2. When you acquire your residence visa, you don’t need to stay in the country for long to maintain your status.

 Please note that this information is based on the rules as of early 2024 and may have changed. For the most accurate and up-to-date information, please contact the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) or the UAE’s embassies and consulates. For Dubai visas, contact the General Directorate of Residency and Foreigners Affairs - Dubai (GDRFAD).

This service allows the real estate investor owning a property the purchase value of which is equal to or more than 2 million AED at the time of purchase, to apply for a 10-years renewable residence permit. The husband or wife, children, and parents can be sponsored. In the event that a mortgaged property, a bank letter indicating 2 million AED paid amount as proof to be provided.

 How can I apply for a Golden Visa in Dubai?

Documents Required to Land department.

1- A passport

2- Availability of an e-Certificate of Title / Title deed

3- A personal photo

4- UAE ID (if any)

5- A copy of the current residence permit (if any).

 Charges for 10 years residency permit

1- AED 700 fee for medical examination

2- AED 1,153 fee for UAE ID (10 years)

3- AED 2,656.75 fee for confirmation of residency permit (10 years)

4- AED 4,020 fee for the Land Department

5- AED 1,155 administrative fee

The total is AED 9,684.75

 Family residence permit for 10 years

AED 5,668.50 fees

AED 318.75 fee for opening a family sponsorship file

A residence permit for the parents for 10 years

AED 5,668.50 fee for 10 years

Service Procedures:

Step I: A customer will move to a service center

Step II: A customer will submit the service requirements and pay the fees

Step III: A customer will perform a medical examination at the center

Step IV: Sending the residence permit of the applicant via e-mail

 However, it's important to consult with an immigration professional for specific advice on your situation. They can advise on any potential conflicts between your current visa and the Golden Visa based on your company's specific investor visa program.

Long-term UAE residency visas for expatriates in five new job categories

Maj Gen Saeed Rakan Al Rashedi (left) briefs the media

The long-term residency visas for expatriates from five select categories has come into force, permitting them to stay in the UAE for up to 10 years, a top official of the Federal Authority for Identity and Citizenship announced in the capital 2^nd May 2019.

Announcing details at a media briefing at the General Identity Directorate in Khalifa City of Abu Dhabi, Major-General Saeed Rakan Al Rashedi, Director-General for Foreigners Affairs and Ports, said, “Today we announce the launch of new services in the field of residency, implementing the UAE Cabinet Decision No. 56 for the year 2018. It grants long-term stay in the country to investors, real estate investors, entrepreneurs, talented people like doctors, researchers, innovators and outstanding students.”

New long-term visa categories

Investors - 10 Year Visa

Conditions:

• Public investment via deposit or company (not less than Dh10 million)
• Non-real estate investments shouldn’t be less than 60 per cent of total investments
• An investor should hold full ownership – not loan. Or he can prove that he reserves rights of investments for three years as a minimum.
• The asset should not be encumbered by claims that impair the appropriateness of the financial value of Dh10 million

 Benefits:

10-year visa is renewable

Possibilities of having partnered with a condition that each partner should invest Dh10 million

Visa for spouse and children for 10 years

10-year visa for one executive director and one advisor

Six-month validity entry visa with permits for multiple travels

Real Estate Investors - 5 Year Visa

Conditions:

• Total investment in real estate should not be less than Dh5 million
• An investor should hold full ownership – not loan. Or he can prove that he reserves rights of investments for three years as a minimum
• The financial asset should not be encumbered by claims that impair the appropriateness of the financial value

Benefits:

Five-year renewable residency visa

Five-year visa for spouse and children

Five-year visa for one executive director and one advisor

Six-month validity entry visa with permits for multiple travels

Entrepreneurs - 5 Year Visa

Conditions:

Owning a project with a value of not less than Dh500,000 with accreditation certificates from the government

Benefits:

Five-year visa, which can be upgraded to investors visa

Five-year visa for spouse and children

Six-month validity entry visa with permits for multiple travels. This also can be extended for another six months

Five-year visa for three executive directors.

Researchers/ Scientists, Doctors, Innovators - 10 Year Visa

 Conditions:

 Existence of a valid work contract and with specialisation in fields that are prioritised in the country

 Benefits:

10-year renewable visa

10-year visa for spouse and children

Outstanding Students - 5 Year Visa

Conditions:

The student should have at least 95 per cent in secondary school with a distinction of 3.75 GPA upon graduation from any university

Benefits:

Five-year renewable visa

Five-year renewable visa for his family

 Image Credit: Courtesy: Federal Authority for Identity and Citizenship

UAE Cabinet approved 5-year, 10-year visas for investors, entrepreneurs, talented expats

Shaikh Mohammad, Shaikh Mansour, Shaikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance, Shaikh Nahayan Mabarak Al Nahayan, UAE Minister of Tolerance; Mohammad Abdullah Al Gergawi, Minister of Cabinet Affairs and the Future at the cabinet meeting.

The UAE cabinet on Monday approved the regulatory framework for the issuance of five and 10-year UAE residence visas to certain categories of applicants.

His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai has announced on Twitter that the regulatory framework to start issuing long-term residence permits for investors, entrepreneurs, innovators and specialized talents is now in place. Departments in the UAE will now start receiving applications, he tweeted on Monday.

“The UAE has been and will remain a destination for talents... and land to fulfil the dreams of all pioneers", Shaikh Mohammad added in the tweet, as part of his announcements following a cabinet meeting held at the Presidential Palace in the capital on Monday.

The UAE Cabinet approved a long-term visa system for investors, entrepreneurs, specialised talents and researchers in the fields of science, knowledge and outstanding students to facilitate business and create an attractive and encouraging investment environment for the growth of business for investors, entrepreneurs and professional talents.

The decision aims to maintain the position of the UAE as an optimal business environment. The visa benefits also include the spouse and the children to ensure a cohesive family and social structure and to create a stimulating environment for stability and growth.

For investors

 

The provision defines two categories for investors:

• Investors in the property of a value of Dh5 million or more will be granted a residence for five years.
• Investors in public investments through a deposit, an established company, business partnership of Dh10 million or more, or a total investment of not less than Dh10 million in all areas mentioned - as long as non-real estate investments are not less than 60 per cent of the total investment - will be granted a renewable residency visa every 10 years.

For entrepreneurs

The decision also includes the terms to grant a long-term visa to two categories of entrepreneurs:

• Those having a previous project with a minimum of Dh500,000, or having the approval of an accredited business incubator in the country.
• Entrepreneurs will be granted a five-year visa with a possibility for upgrading to an investor’s visa provided they meet the requirements.

 The benefits of the entrepreneurial visa cover entrepreneurs, partners, three executive directors, spouse and children. The entrepreneur is allowed entry into the country for six months, multiple-entry visa period, with renewal for another six months.

For professional talents

The decision also includes provisions for granting a 10-year visa for specialized talents and researchers in the fields of science and knowledge for doctors, specialists, scientists, inventors and creative individuals in the field of culture and art.

 

The visa also covers the spouse and children.

All people categorized as professional talents are required to have a valid employment contract in a specialised field, which is of priority to the UAE. Depending on this field, the requirements can include a doctorate degree, publications or global organisation memberships etc.