Business

The UAE Implements a 10-Year Golden Visa Scheme for Talented Professionals and Bright Students

The United Arab Emirates, on November 15, 2020, announced an expansion of the golden card scheme, to take effect from December 1 onwards. With this change in the scheme, any medical doctor is eligible to apply for the long–term visa. The program also encourages Ph.D. holders, scientists, engineers, investors, entrepreneurs and bright students to apply for the visa.

In May 2019, Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, announced the launch of the golden card visa scheme aiming to allure excellent professionals, outstanding students and ambitious investors to the country. The scheme also facilitates the spouse and children of the card bearer.

The Vice President said that the UAE has always been open to millions of enthusiastic people and the golden card program welcomes all those who would like to join in the process of development and success, and make the UAE their second home.

Furthermore, he tweeted that the 10-year golden visa will be granted to expatriate professionals in the fields of health, engineering, data science and art, and graduates from the UAE accredited university with an average GPA of 3.8 and above.

Features in the golden visa scheme:

  • The visa offers 10 years of residence permit.
  • The visa can be renewed on continuing to meet the terms and conditions of the renewal.
  • The visa allows the cardholder to practice their profession or conduct their business in the UAE.
  • The visa presents investors and entrepreneurs with long-term stability.
  • The long term visa includes the spouse and children of the cardholder. As for an investor, the scheme can also include one executive director and one advisor, whereas, for an entrepreneur, a partner and three executives can also be included. And a student’s long-term visa plan includes his/her family.
  • The card benefiter can travel freely with the visa’s validity un-affected. There are no criteria stating the minimum time span of mandatory stay in the UAE.   

Requirements and conditions to qualify for a golden visa:

1. Investors

The investment must fulfil one of the following criteria:

  • A minimum of AED 10 million deposit in an investment fund in the UAE
  • Company establishment with at least AED 10 million
  • Partner in a company with a share of AED 10 million at the minimum

Mandatory conditions:

  • The investment amount should not be loaned.
  • For at least 3 years, the investment should be reserved.
  • Financial solvency of AED 10 million

2. Persons with specialised talents

  • A Ph.D. degree from any one of the top 500 international universities
  • An award winner or equivalent certificate in the profession or speciality
  • Significant contribution to a major scientific research or study
  • Doctorates with 20 years of experience
  • Specialists in the areas notable to the government

3.  Entrepreneurs

  • Own an existing project valued no less than AED 500,000 or have accredited certificate from the government

4.  Outstanding Students

  • A minimum score of 95 percent in secondary school
  • University graduation with a distinction of 3.75 GPA or more.

With the launch of this promising Golden Visa scheme, the UAE opens doors to experts, big investors and talented youths from around the world. It can also be foreseen that the program will aid significantly in the growth and development of the country and to take another mammoth step in making a glorious history.

Image: Pixabay

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button