what is the eligibility for uae golden visa in 2024?

Today, thanks to its growing economy and investment in human capital, the UAE has become an ideal destination for investors, skilled professionals, and students around the world. The United Arab Emirates provides the best career opportunities for skilled professionals, great investment opportunities for investors, and world-class learning institutions for students.

The only inconvenience the talented and competent migrants in the UAE had to face was the short duration of their UAE visas. The maximum duration a regular visa allows is 60 days. After that period, the migrants need to apply for a visa renewal or extension. The situation often results in chaos and the migrants need to perform the same procedure again and again. This wastes the precious time of both migrants and the UAE embassy.

To tackle the issue and make sure that the competent and skilled migrants in the country do not face any trouble, the UAE government has started granting the Golden Visa, a long-term residence visa that will make sure that the eligible candidates can live in the UAE without worrying about the duration of their visas.

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The Benefits Of A Golden Visa

A Golden Visa provides the holder with some exclusive benefits, which are:

• A Golden Visa eliminates the need for a sponsor
• The holder can stay outside the UAE for more than six months and still have the visa valid.
• The visa allows the holder to sponsor a family member
• The visa will be renewed automatically until its 5- or 10-year validity.

Who Is Eligible For Golden Visas

The Golden Visa will be issued to foreign talent to live, work/study in UAE. The candidates who can apply for a golden visa are:

Investors

An investor can apply for the Golden Visa if they fulfil any one or more of the given conditions:

• Made an investment of a minimum of AED 2 Million in the real estate sector of the UAE
• Purchased properly, not less than AED Two Million in value
• Purchased a property with a loan from a specified national bank 
• Purchased off-plan property, worth at least AED 2 million, from an approved local real estate company.

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Entrepreneurs

Budding and talented entrepreneurs can apply for a Golden Visa if they fulfil any one of the following conditions:

• Own or partner in a start-up registered as an SME (small Enterprise) in UAE and the venture makes a revenue of not less than AED One Million
• If the entrepreneur has a promising start-up concept that has been approved by the Ministry of Economy, an official business incubator, or any other recognised local authority,.
• Founded a venture that was sold for a minimum of AED 7 Million. 

Outstanding Talents

The UAE government acknowledges the significance of individual talents and hence grants Golden Visas to exceptionally talented personnel. Inventors, innovators, and exceptionally talented personnel from fields such as culture, sports, the arts, and digital technology can apply for the Visa.
The approval of visa applications for such people depends on the recommendation from the federal or local government entity.

Scientists and Researchers

Scientists and researchers with high achievement and expertise in their respective fields can be granted a Golden Visa if the Emirates Scientists Council recommends their profile. The basic eligibility for them is to have a PhD or Master’s degree from the best universities in the world in any one of the following disciplines:

• Natural Science
• Engineering
• Technology
• Life Sciences

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Professionals

Highly qualified professionals with high educational qualifications and vast professional experience can apply for a Golden Visa if they:

• have a monthly salary of a minimum of AED 30,000
• hold a valid employment contract in UAE
• hold a recognised educational degree
• Are categorised in the first or second occupational level

Outstanding Students 

Top-performing students in UAE’s secondary schools and outstanding graduates from the top hundred universities worldwide can apply for a Golden Visa. The application will be assessed based on the academic performance of the candidate.

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Humanitarian Pioneers

The UAE government recognises the significance of social workers and humanitarian people in society and provides them the opportunity to apply for a Golden Visa. The following humanitarian pioneers can apply for a Golden Visa:

• Recipient of an international award in the field of humanitarian work
• An outstanding member of an international or regional organisation
• A distinguished volunteer and sponsor of humanitarian efforts.

Conclusion

The Golden Visa allows eligible candidates to stay in the UAE without the need to keep renewing or extending their visas. It ensures that talented and promising migrants can devote their time and energy to their work without stressing about their visas.

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