Details about the United Arab Emirates Golden Visa have been revealed by authorities in this country.
The program gives investors, entrepreneurs, scientists and outstanding students and graduates the opportunity to benefit from this program VisaGuide.World reports.
Requirements for this program depend on the type of residence, talent, and entrepreneur, among others, as reported by the Times of India.
Investor in public investments
Those interested in investing in an investment fund are eligible to benefit from the Golden Visa without a sponsor for a period of ten years, provided they meet the following conditions:
Submit a letter from an investment fund in UAE confirming that the investor has a deposit of AED two million.
Submit a valid commercial license or industrial license as well as a memorandum of association, ensuring that the applicant’s capital is not less than AED two million.
They can also submit a letter from the Federal Tax Authority, which shows that the investor pays the government AED 250,000 or more annually.
Investors in real estate
Foreigners are eligible to benefit from the Golden Visa Program of UAE without a sponsor for a period of five years if they meet the following conditions:
Submit a letter confirming ownership of one or more properties valued at 2 million dirhams or more or purchase a property through a loan obtained from a specific local bank approved by the relevant local authority.
Entrepreneurs
The Residency by Investment scheme is also able to benefit entrepreneurs for a period of five years if they have an economic project of a technical or future nature based on risk and innovation.
They are also required to hold an approval letter from an auditor in the UAE confirming that the project value is 500,000 dirhams or more, and also a letter from the authorities in this country stressing that the project is of a technical or future nature and a letter from an accredited business incubator in the UAE to launch the proposed activity in the state.
The Golden Visa Program aims to attract a large number of wealthy foreigners. As part of these efforts, in April this year, the United Arab Emirates launched a new Golden Visa platform called “One Touch” to facilitate the application process for this program.
The decision was confirmed by the UAE Federal Authority for Identity, Nationality, Customs and Port Security (ICP).
The Golden Visa Program gives foreigners the opportunity to acquire residency in the UAE if they meet the needed conditions.