The UAE Golden Visa for Entrepreneurs has revolutionized the business landscape, offering a golden gateway for global innovators. Whether you’re exploring the UAE golden visa, the UAE golden visa for entrepreneurs, or the enticing 2 million golden visa, the UAE beckons with unmatched opportunities. With the 2023 updates, the golden visa for business owners and startups in the UAE has become even more appealing. Dive with us into the latest insights on this transformative initiative.
But What’s the #2023 Latest Update on the UAE Golden Visa?
The UAE Golden Visa for Entrepreneurs has unveiled fresh updates, as seen in the recent article inGulf News, further solidifying the nation’s reputation as a prime destination for business innovators:
Abu Dhabi’s Business Incentive:
Entrepreneurs can now kickstart their ventures in Abu Dhabi without the overhead of office space for the initial year. This move, a boon especially for those eyeing the UAE golden visa for startups, significantly trims startup costs.
Cost-Efficient Free Zones:
Several UAE free zones are rolling out enticing offers, slashing the initial costs for new businesses. Whether it’s through direct lease term reductions or one-time incentives, the golden visa in Dubai for entrepreneurs and other emirates is becoming even more appealing.
Broadening the Golden Visa Horizon:
The UAE Golden Visa for Entrepreneurs initiative has expanded, witnessing a surge in entrepreneur-linked long-term resident visas. With cost-saving offers in the mix, the UAE is poised to magnetize a fresh wave of golden visa UAE entrepreneur applicants.
Prioritizing Cost Management:
The UAE is doubling down on its commitment to support businesses in cost management, making the Entrepreneur Golden Visa UAE a formidable contender against other global investment avenues.
Diverse Golden Visa Categories:
Under the entrepreneur bracket, a golden visa for business owners mandates an approval letter from a UAE auditor, confirming an investment value of at least Dh500,000. The diverse categories and routes, some even catering to non-skilled professionals, underscore the UAE’s inclusive approach.
Those in artistic fields can leverage their portfolios and secure approvals from the respective emirate’s culture and arts authority, highlighting the Golden Visa UAE Entrepreneur Scheme’s flexibility and openness to talents beyond just financial prowess.
As an entrepreneur, the UAE’s Golden Visa for Entrepreneurs can catch your attention like no other. The UAE golden visa is a gateway to unparalleled business opportunities. With cost incentives, especially with the UAE entrepreneur visa updates of 2023, scaling a business here is both feasible and rewarding. The business golden visa is a commitment from the UAE to us, the innovators. For entrepreneurs seeking growth in a dynamic environment, the UAE is the place to be.
Benefits of UAE Golden Visa for Entrepreneurs and Business Holders
The UAE Golden Visa has a lot of benefits for global entrepreneurs, offering a plethora of unmatched Golden visa benefits for business owners in UAE that cater to the unique needs of business innovators:
With validity spanning 5 to 10 years and the option for renewal, the Golden Visa ensures long-term stability, empowering entrepreneurs to nurture and expand their ventures in the UAE.
Independence in Business:
The Golden Visa grants entrepreneurs the autonomy to establish and operate their businesses seamlessly.
Full Business Ownership:
Enjoy the privilege of 100% ownership of your enterprise. This not only offers total control but also opens doors to attract international investments.
The UAE prides itself on its world-class infrastructure, which encompasses advanced airports, efficient road networks, strategic ports, and cutting-edge telecommunications, making business operations smooth and efficient.
Thrive in the UAE’s conducive business climate, characterized by minimal regulations and low taxes, which makes it a magnet for entrepreneurial talent.
But that’s not all. The UAE Golden Visa extends its benefits beyond business:
Family Sponsorship: Ensure your loved ones are by your side by sponsoring family members for UAE residency.
Career Flexibility: Golden Visa holders have the freedom to work across diverse fields, tailoring their career paths as they see fit.
Top-Tier Amenities: Access premium healthcare and education facilities, ensuring a high-quality lifestyle.
Safety and Security: Reside in an environment that prioritizes the safety and well-being of its residents.
In essence, the UAE Golden Visa for Entrepreneurs isn’t just a residency permit; it’s a comprehensive package designed for entrepreneurs eager to carve a niche in the UAE’s dynamic business landscape.
UAE Golden Visa
Long-term Residency (5-10 years)
No Local Sponsor Requirement
Access to World-class Infrastructure
Favorable Business Climate
Ability to Sponsor Family
Access to Premium Amenities
Extended stay outside the UAE
Eligibility of UAE Golden Visa for Entrepreneurs
The UAE Golden Visa has always been a sought-after privilege for global entrepreneurs. With the 2023 updates, the eligibility criteria have been refined to further streamline and enhance the process:
Entrepreneurial Role: The applicant should either be the founder or a pivotal member of a startup or SME registered within the UAE’s dynamic business landscape.
Financial Stability: The associated startup or SME should boast an annual revenue of AED 1 million or more, showcasing its viability and success in the market.
Educational Background: Holding a bachelor’s degree or its equivalent is a testament to the entrepreneur’s expertise and knowledge in their domain.
Impeccable Record: A clean criminal record is imperative, ensuring the entrepreneur’s credibility and trustworthiness.
Language Proficiency: Effective communication is key. Thus, proficiency in either Arabic or English is essential for seamless business operations.
Beyond these primary criteria, entrepreneurs can also secure their Golden Visa by meeting one of these additional conditions:
Successful Past Ventures: If you’ve previously sold an entrepreneurial project for a sum of AED 7 million or more, you’re a step closer to the Golden Visa.
Official Approval: Projects or ideas that receive a nod from the Ministry of Economy or relevant local authorities are also considered eligible.
The UAE Golden Visa for entrepreneurs is not just about long-term residency. Valid for a span of 5 to 10 years and renewable, it’s a testament to the UAE’s commitment to fostering global entrepreneurial talent. Plus, with a user-friendly online application process, securing your future in the UAE has never been easier.
Requirements and Steps to Get UAE Golden Visa in UAE
The UAE Golden Visa Nomination process? Expect swift responses. Within a month, you’ll be notified via email about your nomination status. Successful nominees will promptly receive a link to submit essential visa documents.
Post document submission, the Federal Authority for Identity and Citizenship will review your application, ensuring a seamless verification process. In just a few weeks, your Golden Visa will be in your hands.
For those already in the UAE, a provisional one-month visa is granted. It’s essential to transition this temporary visa to a residency permit within the stipulated timeframe.
Golden Visa Requirements
Investors in public investments
– Submission of a letter from an accredited investment fund in the UAE stating a deposit of AED two million – Valid commercial or industrial license with a memorandum of association stating a capital of not less than AED two million. – Letter from the Federal Tax Authority confirming an annual payment to the government of no less than AED 250,000. – Ownership of the invested capital (not a loan). Proof of medical insurance for the investor and family.
Real estate investors
– Title DEED from the land department confirming ownership of property valued at not less than 2 million dirhams. – Property purchase with a loan from specific local banks approved by the competent local entity.
– Ownership of a technical or future-oriented economic project based on risk & innovation. – Auditor’s letter in the UAE confirming project value of not less than 500,000 dirhams. – Approval letters from the emirate authorities and an accredited business incubator in the UAE.
Outstanding specialised talents
– Categories include doctors, scientists, artists, inventors, executives, specialists in scientific fields, athletes, doctoral degree holders, and specialists in engineering and science. – Specific requirements vary for each category, such as approval letters from relevant ministries, recommendation letters, university degrees, experience certificates, and more.
High school students: – National-level topper with a minimum grade of 95% in public or private secondary school. – Recommendation letter from Ministry of Education (Emirates Schools Establishment). University students: – Enrolment in a university rated either A or B class by Ministry of Education. Recommendation letter from the university or an accredited graduation certificate with a specified GPA. – Graduation from a top 100 global university with a specified GPA and accreditation from the Ministry of Education.
Pioneers of humanitarian work
– Membership or employment in international/regional organizations or civil associations for a minimum of five years. – Receipt of an appreciation award from a recognized humanitarian organization. – Funding of humanitarian work with a value not below two million UAE dirhams.
– Frontline workers who displayed extraordinary effort in crises, such as the COVID-19 pandemic. – Includes nurses, medical assistants, lab technicians, pharmacologists, and other approved cadres. – Recommendation from a competent authority.
Documents Required for UAE Golden Visa in 2023
The documents required by entrepreneurs for the UAE Golden Visa in 2023 are as follows:
Passport copy (with a minimum validity of 6 months)
Proof of investment (for investors)
Business plan and investment of not less than AED 500,000 (for entrepreneurs)
Proof of education and work experience with minimum salary of 30000 AED (for highly skilled professionals)
Proof of registration of the startup in the UAE
Proof of annual revenue of at least AED 2 million for investors
For Property investors minimum 2 million AED worth of property value in UAE.
Clean criminal record
In addition to the above documents, the entrepreneur may also be required to provide additional documents, such as:
Letter of approval from the Ministry of Economy or the competent local authorities (if applicable)
Letter from a bank stating that the entrepreneur has a minimum balance of AED 1 million (if applicable)
Letter from the entrepreneur’s employer stating that they are a key member of the startup or SME (if applicable)
The specific documents required may vary depending on the individual’s circumstances. It is advisable to contact the UAE government authorities for more information.
Tips from Adam Global for entrepreneurs who are applying for the UAE Golden Visa:
Start the application process early. The application process can take several weeks or months, so it is important to start early.
Get all the required documents in order. Make sure that all the required documents are complete and accurate.
Have your documents translated into Arabic or English. If your documents are not in Arabic or English, they must be translated into one of these languages.
Hire a consultant like Adam Global. This will help you in the application process and ensure that you are meeting all the requirements.
Why Choose Adam Global?
Unparalleled Expertise: With years of experience in the global business landscape, Adam Global has honed its skills to offer top-tier consultancy and guidance.
Tailored Solutions: Every entrepreneur and professional has unique needs. Adam Global prides itself on crafting bespoke solutions that align perfectly with individual aspirations.
Global Network: With connections spanning continents, Adam Global ensures that clients have access to a vast network of opportunities, no matter where they are.
Trust and Credibility: Our track record speaks for itself. Numerous businesses and professionals have trusted Adam Global with their ventures, and we’ve consistently delivered.
Comprehensive Services: From business consulting to visa guidance, Adam Global offers a one-stop solution for all your entrepreneurial needs.
In the ever-evolving world of business and residency opportunities, having a reliable partner can make all the difference. Adam Global stands as that steadfast partner, guiding you through every step, ensuring that your journey, whether it’s business expansion or securing the UAE Golden Visa, is smooth and successful. Choose Adam Global, and let’s craft a brighter, more prosperous future together.
What is the UAE Golden Visa for Entrepreneurs?
The UAE Golden Visa is a long-term residency visa tailored for entrepreneurs, allowing them to live, work, and invest in the UAE with added benefits and privileges.
How long is the UAE Golden Visa valid for?
The Golden Visa offers long-term residency, with validity options of either 5 or 10 years, and it can be renewed.
Do I need a local sponsor to apply for the Golden Visa?
No, one of the significant advantages of the Golden Visa is that entrepreneurs do not require a local UAE sponsor, granting them greater autonomy in their business ventures.
Can I own 100% of my business with the Golden Visa?
Yes, entrepreneurs with the Golden Visa can have 100% ownership of their businesses in the UAE.
What is the minimum annual revenue required for my startup to be eligible?
Your startup or SME should have an annual revenue of at least AED 2 million to qualify for the Golden Visa.
How long does the Golden Visa application process take?
Once you've been nominated and your documents are uploaded, the Federal Authority for Identity and Citizenship typically verifies your application within a few weeks.
Can I sponsor my family with the Golden Visa?
Yes, Golden Visa holders have the privilege to sponsor their family members for UAE residency.
What happens if I'm already residing in the UAE when I receive my Golden Visa?
If you're already in the UAE, you'll be granted a temporary one-month visa. It's essential to convert this temporary visa into a residency permit within that period.
Disclaimer: Please note that this information should not be considered the ultimate guidelines, and one should consult with our experts for advice or assistance.