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Wednesday, October 25, 2023

Three ways to get the Golden Visa through non-real-estate investments in UAE

Dubai: If you are planning to apply for the UAE’s Golden Visa as an investor, did you know that there are several options available to you apart from real estate investments?

The UAE offers investors with various categories that they can benefit from, to apply for the Golden Visa, like ‘non-real-estate investors’ or ‘public investments’. Here is all you need to know.

As reported by Gulf News ↗, while investment in property is a popular option among investors, the other options available can also be suitable for people depending on their preferences. Here is all you need to know.

Three ways to get a Golden Visa through investments apart from real estate

As an investor, you may be granted a Golden Visa for a period of 10 years without a sponsor, for the following categories:

1. Bank deposit:

You will need to submit a letter from an investment fund accredited in the UAE stating that you have a deposit of Dh2 million.

2. Company investor:

Another option available to you is as a company investor where you would need to submit a valid commercial licence or industrial licence and a memorandum of association (MOA) stating that your capital is not less than Dh2 million.

3. Proof of tax payment:

To be eligible for a Golden Visa under this category, you will need to submit a letter from the Federal Tax Authority (FTA) stating that the investor pays the government no less than Dh250,000 annually.

According to the Abu Dhabi Resident Office (ADRO), the applicant is required to provide proof of tax payment for the minimum amount of Dh250,000 per year for two years prior to the application.

ADRO explained that if the investor owns 25 per cent of shares in a company which pays annual taxes amounting to Dh1 million, then the investor needs to provide proof of paying Dh250,000 per year to qualify for the visa.

To apply for a Golden Visa under any of these categories, you must own the invested capital completely – it must not be a loan. Also, you need to provide proof of medical insurance for yourself and your family members.

All the documents you will need to submit

Based on the type of investment, you will have to provide one of the documents:
• A letter from an investment fund accredited in the UAE.
• A valid copy of commercial licence or industrial licence with the investor’s Memorandum of Association (MOA) of their company.
• Letter from the Federal Tax Authority (FTA).
Other documents:
• Recent coloured passport photo.
• Valid passport copy.
• Copy of health insurance.
• Copy of medical fitness test result.
• Copy of UAE entry permit.

Where do I apply for the Golden Visa?

Here are four ways to apply for visas in the UAE:

1. Federal Authority for Identity, Citizenship, Customs and Port Security (ICP)

Visas that are issued in Abu Dhabi, Sharjah, Ajman, Ras Al Khaimah, Umm Al Quwain or Fujairah are managed by the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP). You can apply for a visit visa online, through the ICP smart services platform – smartservices.icp.gov.ae, or the smartphone application ‘UAEICP’, available for both Apple and Android devices.

2. General Directorate of Residency and Foreigners Affairs (GDRFA) Dubai

In Dubai, you can apply for a visit visa through the website of the General Directorate of Residency and Foreigners Affairs (GDRFA) Dubai – gdrfad.gov.ae.

3. Amer centre

Amer centres processes immigration applications on behalf of Dubai’s GDRFA. If you have a visa issued in Dubai and wish to sponsor your family on visit visas or want to apply for a long-term multiple entry permit, you can visit an Amer centre near you with the required documents. You can find the list of Amer Centres located in Dubai, through this website : https://gdrfad.gov.ae/en/customer-happiness-centers#

4. Typing centres

Immigration authorities in the UAE have authorised several typing centres to process visa applications from individuals and establishments. All you need to do is visit a typing centre with the required documents, make the payment for the visa you are applying for and the typing centre will manage the entire application process. However, going through a typing centre, you will have to pay additional service charges.

You can find the complete list of authorised typing offices in the UAE, through this website: https://icp.gov.ae/en/typing-offices/

If you meet the criteria for Golden Visa through investment, you can go ahead and fill up the application form, just make sure you have the required documents and proof of investment. For a detailed breakdown on how to apply for the Golden Visa, click here ↗.

If you are applying from outside the UAE and the initial application is approved, you will have to apply for a six month multiple-entry visa ↗ to undergo the medical fitness test ↗ and apply for an Emirates ID. If you are a UAE resident, you have a one-month temporary visa to finalise the procedures for the Golden Visa, according to ICP.

Michael Maren
Michael Maren
Former marine biologist who likes to spend as much time in the tropics as possible, due to a horrible time I once had in Alaska. Brrrr.

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