Jaw-dropping high-rise beauties, ultra-modern transportation system, hi-tech amenities, no income tax regime, easy-breezy visa policies, and whatnot! Who wouldn’t want to live in a country like the United Arab Emirates that’s as pretty as a picture and as welcoming as the flowers in May? UAE Golden visas are a ticket to long-term residency for certain categories of people, ranging from investors to individuals with outstanding talents, who are looking to secure permanent residency in any of the emirates of the country. Business Golden Visa is one of them. Launched in 2019 as part of the UAE Golden Visa system, UAE Business Golden Visa is the most coveted long-term UAE residency visa among wealthy business persons and investors. If you are one of them and scouring the internet to find out the answers to the questions about this visa type – What is the UAE Business Golden Visa and for how long is it valid? What are the requirements to apply for UAE Business Golden Visa? What are the benefits of acquiring a UAE Business Golden Visa? How does the Golden Business Visa help? How can I obtain the UAE Business Golden Visa? – then you are on the right page. Ahead Adam Global, the Golden Visa Expert in Dubai, would like to enlighten you about the greatly desired UAE Golden Visa, and by the time you will reach the end of the article you’ll have all your answers. So, let’s start!
What is Business Golden Visa in the UAE?
Issued under the UAE Golden Visa program, the UAE Business (or Investor) Golden Visa is a type of long-term residency visa that permits non-national foreign business owners, investors and entrepreneurs to live in their favourite emirate of the United Arab Emirates and do business even from outside the UAE while enjoying exclusive benefits including a multiple-entry visa for 6 months to proceed with residence issuance. Unlike the standard two-year visa, this visa type comes with an auto-renewable validity of up to 5 or 10 years. This means if certain terms and conditions are met on completion of the visa renewal cycle (usually 5 years) the visa’s validity extends for the next 5 years or 10 depending on the visa type.
Advantages of holding a Business Golden Visa in the UAE?
The UAE Business Golden Visa brings to its holder a smorgasbord of benefits. The visa empowers them:
- to apply for long-term residency visas for their first-degree family members (parents, children and spouses), subject to certain conditions
- with an initial 6-month multiple-entry visa, which is helpful in speeding up business incorporation procedures
- to nominate up to 3 senior business personnel for residency
- to stay outside the UAE without the fear of losing the validity of the Golden Residency
- to not apply for this visa if they are an employer or sponsor
- to have their family members, stay in the UAE until the visa expires even after he/she (the Golden Visa holder) dies
Who is eligible for Business Golden Visa in the UAE
Any entrepreneur from around the world who has set up their own business at least once in their professional careers is eligible to apply for the UAE Business Golden Visa. To qualify for the UAE Golden Business Visa, the eligible applicant must:
- Be able to present valid proofs of their entrepreneurial experience
- Hold/have held the majority shares in a startup and/or a senior leadership position with a minimum value of AED 500,000
- Be willing to establish a business and migrate to the UAE legally
- Have a blueprint ready for their new business venture in the UAE
- Be the owner of a company or a partner in a UAE-based start-up (SME) with a capacity to generate annual revenue of up to AED 1 million
- Have received approval for their start-up idea from the Ministry of Economy, an official business incubator and other competent authorities to mature their business idea
- Have been a sole proprietor or one of the founding members of a previous project sold with a minimum value of AED 7 million
Note: With the UAE government eligibility tool, you can evaluate your candidacy against the UAE Golden Visa requirements.
How can I evaluate if I meet the criteria of attaining a 10-year Golden Residency Visa in the UAE?
Yes, there are specific terms and conditions to fulfil to be eligible for the Business Golden Visa with 10-year validity. The UAE government eligibility tool can help you figure out whether you match the 10-year Golden Residency Visa criteria.
Who are eligible for Golden Visa Program?
Usually, individuals falling in the following categories are eligible for a UAE Golden Visa:
- Investors (Public/Real Estate)
- Executive Directors
- Humanitarian Pioneers
- Outstanding talents in art, culture, sports, digital technology and other vital fields
- Holders of doctorate degrees
- Scientists as well as professionals in health, business administration, information technological, legal, cultural and social fields
- Engineers in the fields of computer engineering, electronics, programming, electricity and biotechnology
- Specialists in Priority Educational Fields, including Early Childhood
- Outstanding students and graduates
- Experts in the field of Big Data, Artificial Intelligence, Virology and Epidemiology
- Frontier workers who channelised exceptional efforts during the COVID-19 pandemic
- Distinguished members, sponsors and volunteers of regional & international humanitarian organisations
Note: Apart from meeting these requirements, the hopeful must also complete the Federal Authority for Identity and Citizenship prerequisites, such as a health assessment and an exhaustive background check. This is also worth noting that even if you somehow manage to qualify for the Golden Residence Permit UAE, it is at the sole discretion of specialised committees, assigned to evaluate the UAE Golden Visa applications, profile and attached documents, whether you will receive one or not.
What is the UAE Business Golden Visa application process?
Here’s what you are required to do, in order to obtain a Golden Visa in the UAE:
1. Visit the website of the Federal Authority for Identity and Citizenship (ICA) and click on the tab ”Golden Services” from the category section at the top
2. Now scroll down and click on ”Visa – Golden Visa – Nomination Request For Golden Residence” and ”Start Service”
3. Generate the request for your visa by completing the application form asking for the following information:
- Personal profile (name, visa category, nationality, gender, origin, date of birth and so on)
- Passport details (passport type, number and expiry, etc.)
- Contact details (phone number, permanent address, country of residence, etc.)
- Professional and entrepreneurial experience
- Upload the required attachments
4. Pay application fees
5. Submit the application
After application submission, authorities can take up to 30 days to review it and approve your request for the Golden residence permit. If approved, you will be inboxed a link to upload the rest of the documents to complete the process. This could take 1 more month to perform a check on the provided papers. If everything is positive upon the final evaluation, you will receive an email summarising the details on how to acquire the UAE Business Golden Visa.
What is the cost of the UAE Golden Visa?
Depending on the type of service and visa category, the cost of the UAE Golden Visa can swing between AED 2,800 and AED 3,800 if applied from the UAE. For those applying from outside the country, the cost can range from AED 3,800 to AED 4,800. This doesn’t include health insurance. You may easily get a medical insurance in the UAE with a coverage limit of up to AED 300,00000 by paying an annual premium of AED 2,393.
What if my UAE Business Golden Visa is rejected?
If your UAE Business Golden Visa application is unsuccessful within 30 days, you can attempt to apply for it again after a gap of 90 days. Now that you know the reasons for your Golden Visa request disapproval, the chances of Golden Visa nomination this time increase. There is one more way to ensure that your UAE Business Golden Visa application gets accepted, and that is – to engage an experienced Golden Visa expert in Dubai such as Adam Global. Not only they will help you attain the UAE Golden Business Visa on the very first attempt, but also set up your business in Dubai or any other emirate of the UAE.
Who can help me to obtain a Business Golden Visa in the UAE?
Either you may apply for the UAE Business Golden Visa online through the web portal of the Federal Authority for Identity and Citizenship or approach one of the best Dubai business advisors and Golden Visa specialists in Dubai such as Adam Global. With the latter option, the probabilities of application denial are negligible.
How can track my Dubai Golden Business Visa Application?
To follow up on your Dubai Business Golden Visa nomination in Dubai, you may write to firstname.lastname@example.org until your initial application is approved. Once your visa is in process, your point of contact changes to the Federal Authority for Identity and Citizenship, either via email or call. The contact details of ICA are as follows:
We hope you have a better understanding of the UAE Business Golden Visa now. Get in touch with our UAE Golden Visa experts in Dubai for more information.
Need professional assistance in acquiring a UAE Golden Business Visa or other visas?
Feel free to meet our Visa experts in Dubai, for UAE Golden, Investor Visa or any other visa assistance or Business setup consultant in Dubai for any sort of service in obtaining a trade licence and starting a business in Dubai or any part of the UAE. Dubai Business Advisors at Adam Global are here for more than two decades helping individuals bring their entrepreneurial dreams to fruition in Dubai’s world-class business infrastructure.