What is the value of the property eligible for a Golden Visa in the UAE?

If you own a property or group of properties worth at least two million dirhams, you may obtain a golden residence visa renewable under the same conditions and without the need for a guarantor, after fulfilling the requirements, enabling you to live, work, invest and study with exclusive benefits.

The Federal Authority for Identity, Citizenship, Customs and Ports Security has provided, through its website and smart application, a service under which an initial approval is issued for the issuance of a golden visa, including several categories, including investors in public investments, investors in real estate, and entrepreneurs, where the transaction is received via e-mail.

The Authority stated that the golden residency system entitles individuals to obtain a residency for a period of five or ten years, depending on the category, in a way that enhances the attractive environment for business growth and success.

Several inquiries were received by "Emirates Today" from individuals about whether it is required to own one property worth two million dirhams to obtain a golden visa or if there is more than one property worth two million dirhams.

The Federal Authority for Identity, Citizenship, Customs and Ports Security has set two conditions for an investor in a property to obtain a golden residency, namely bringing a letter from the Real Estate Registration Department in the competent emirate stating that he is the owner of one or more properties worth not less than AED 2 million, and proof of residence in the country (house ownership or house lease contract).

As for an investor in public investments to obtain a golden visa, the Authority specified five conditions for issuing a visa: to have the idea of establishing an investment project in one of the Emirates legally, to bring a letter from an investment fund accredited in the country stating the existence of a deposit of AED 2 million, or to bring a valid commercial or industrial license with the company's memorandum of association with the investor so that the capital is not less than AED 2 million, or to be a partner in the company's capital less than AED 2 million or bring a letter from the Federal Tax Authority stating that he is the owner of a company that pays the government at least AED 250,250 annually, or bring a letter from the Federal Tax Authority stating that he is a partner in an establishment that pays tax to the government and his share of tax contribution is not less than AED <>,<> annually.

For entrepreneurs, the conditions for issuing a visa for them include: Bring a letter from an auditor in the country stating that the value of the project is not less than AED 500000,71 (project owner), Bring a letter from the competent authorities in the emirate stating that the project is of a technical or future nature in which leadership is achieved (project owner), Bring a letter from an accredited business incubator or from the competent authority in the emirate stating that the project is pioneering and of a technical or future nature (project founder), A copy of the passport Valid travel, health insurance of at least one year and extendable, proof of residence in the country (house ownership / house lease contract), this type of application is submitted for (entrepreneurs according to the procedures referred to above, except for the Emirate of (Abu Dhabi and Dubai), so the application is made through the business incubator in the approved platform Abu Dhabi (HUB2071) Dubai platform (Dubai Future Foundation) "Area <>".

She stated that the holder of the golden visa enjoys the following rights and benefits: An investor from outside the country is granted a multiple-entry visa for a period of 6 months, the investor and entrepreneurs are given within 6 months the opportunity to study starting their projects in one of the Emirates after completing the study of the projects and fulfilling the requirements of the Federal Authority for Identity and Citizenship The visa is changed from a 6-month visa to a 10-year golden visa, if you are a resident within the UAE, you will get a temporary visa for one month, and You can convert your temporary visa into a golden residence during this period, reside and live in the United Arab Emirates and bring his family (wife, children and parents) when the required conditions are met, owning projects in the field of public investments such as real estate, trade and investment industry, and for entrepreneurs they can nominate 3 employees or partners in the project to obtain a golden visa, and brilliant students can bring their families when they have the financial means.