Long-term visas are one of the important advantages that are available to buyers of real estate in the UAE.
For an investment of a certain amount, you get the opportunity to stay in the UAE for a long time, live with your family, conduct business and enjoy the benefits of a tax-free regime.
The source https://emirates.estate/ told its readers more about the conditions for obtaining “Golden visas” in 2022.
Features of Golden Visas in Dubai
“Golden” is a long-term visas, the duration of which is 5 and 10 years. Upon expiration, they are automatically extended, and the expat can live in Dubai without leaving the country.
This initiative was introduced in 2019 to attract more foreign nationals, interested entrepreneurs, and talented people to the country.
With visas, foreigners can own 100% of the business on the mainland of the UAE without attracting an Arab sponsor.
Under certain conditions, some people may apply for a visa:
- Talented scientists and researchers from different fields of science
- Students with good academic progress
Features of a 5-year visa
The following categories of foreign nationals can apply for a long-term 5-year visa:
- Real estate investors. They can buy a property for at least AED 5 million ($1,4 million, ¥8,7 million). At the same time: 1) the purchased housing must be owned for at least 3 years, otherwise the visa will be revoked; 2) the purchase must be financed with the investor’s personal funds, without attracting mortgage loans;
- Entrepreneurs with an existing business in the UAE with a minimum capital of AED 500,000 ($136,000, ¥867,000);
- Students of public and private schools with a minimum academic score of at least 95%, as well as students with an average score of at least 3.75. The closest family members can get a visa with the students.
Features of a 10-year visa
Large investors can apply for a visa with a maximum validity period of 10 years. To do this, they need to comply with one of the requirements:
- Invest in the UAE economy from AED 10 million ($2.7 million, ¥17.4 million);
- A deposit of AED 10 million in the investment fund of the United Arab Emirates;
- Create a company in the UAE with a capital of at least AED 10 million;
- The total volume of investments is AED 10 million if investments in other sectors, except real estate, account for at least 60% of the total investment.
These conditions do not apply to all emirates, but only to Dubai. These rules may differ in Abu Dhabi and the Northern Emirates.
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