The United Arab Emirates annually attracts millions of tourists and businessmen. The government believes that the more the best specialists in various fields from all over the world participate in the development of the economy, the faster the standard of living of the citizens of this country will grow. To attract investors and highly skilled workers to participate in building a happy future, the UAE has a Golden Visa program that allows staying in the state for 5 or 10 years.
Real estate investors, scientists, students of the best universities in the world, highly skilled workers, entrepreneurs, and people with high achievements in art, music, sports, etc. can apply for a residence visa in the UAE. The UAE Golden Visa allows you to not only live in the country for up to 10 years but also enjoy discounts in major cities on various goods and services using the Esaad Privilege Card and an affordable tax regime and other delights of life in the UAE.
UAE Golden Visa benefits
- Medical insurance?
Golden Visa holders have the opportunity to take out special medical insurance with three levels of coverage. Such insurance is also available to family members of the main applicant. (Tramadol) It must be renewed once a year.?
- Real estate market?
If a foreigner decides to participate in the program by purchasing real estate in the UAE, such an acquisition can bring a one-time income after the sale in a few years due to the increase in the value of the object. Major cities such as Dubai and Abu Dhabi continue to grow, the population is increasing, and so is the number of businesses. Therefore, investing in real estate is a great idea even for those who have already received a Golden Visa. In addition, you can rent the property and receive passive income.
- Tax regime?
A resident of the UAE does not pay personal income tax, and VAT is only 5%. This is one of the reasons why UAE citizenship is becoming an object of interest for rich people.
- Driver license?
If a foreigner with a Golden Visa has already obtained a driver’s license in their home country, it is also possible to take a driving test in the UAE. In addition, with a Golden Visa, you can buy a car in Abu Dhabi at a discount. Other discounts apply to banking services, healthcare, real estate, etc.
The Esaad card ? another advantage of the UAE Golden Visa
The Dubai Police can provide UAE Golden Visa holders with a special Esaad Privilege Card. This document allows you to use discounts in shops, hotels, restaurants, etc. Some educational institutions, such as the Institute for Management Technology or the American School of Creative Science, will also reduce tuition fees for Esaad card holders.
Golden residency in the UAE in 2022
In September 2022, the new rules that the government has established for the UAE visa regime will come into force. The Golden Visa program will also see some changes. For example, there will be new types of Golden Visa applicants.?
According to Zlata Erlach, an expert from Immigrant Invest, the new rules state that after getting the UAE Golden Visa, a foreigner can spend an unlimited amount of time in other countries. In addition, a foreigner with a visa can sponsor their family members if they want to reside in the UAE. An unlimited number of hired houseworkers are also allowed to sponsor.
How to apply for UAE Golden Visa
1) The ICA Intelligent Services Platform is the website used to apply. Completing the required form implies indicating the category for which the applicant plans to obtain a Golden Visa.?
2) The applicant should prepare all the necessary documents in advance. They include a passport, photographs, and documents confirming the fulfillment of the conditions in the relevant category (for example, proof of investment in real estate).?
3) After checking the correctness of filling in the form and the availability of documents, the applicant must be ready to pay all the necessary government fees for processing the application and obtaining the Golden Visa.
The UAE Golden Visa has many pros that can fuel the desire of foreigners to move to this country. The UAE visa regime is not limited to the Golden Visa only. A foreigner may also be interested in the Green visa or the Visit visa. They also have their terms and conditions. However, this is a great opportunity to come to the United Arab Emirates, find out how the citizens of this country live, or find work with local employers. Of course, for a long stay in this place, the Golden Visa will be more profitable, depending on the category chosen by the applicant.
New rules in 2022 were introduced to attract as many foreign specialists and investors as possible. Now, the Golden Visa removes some restrictions and has more affordable conditions for participation in the program.