UAE Golden Visa: Who other than businessmen and investors can apply

Dubai - Here are the eligibility criteria as well as the steps on how to apply.

Question: I have been reading about a lot of people getting the UAE Golden Visa despite not having properties or investments here. Which categories other than investors or businessmen can get the long-term residency? How do they go about it? Can those under the sponsorship of their companies get it? What is the process?

Answer: Pursuant to your queries, it should be noted that the UAE Cabinet Resolution No. 56 of 2018 allows a foreign national to obtain long-term residency visa (Golden Visa) in the UAE.

An individual is eligible to apply for a 10-year visa without a sponsor if his investments in the UAE are at least Dh10 million. The said investments should be free of any loans and should be retained for at least three years.

Under this category, the investor - while applying for the residency visa - may also include his spouse and dependents as well as one executive director and one advisor of his/her business entity.

Further, any individual who owns properties worth Dh5 million or more in the UAE is eligible to apply for a five-year visa. Under these categories, the properties should be retained for at least three years and there should be no loan on them.

Entrepreneurs in the UAE whose investments in existing projects in the UAE are valued at a minimum capital of Dh5 million are also eligible to apply for a five-year visa. Such entrepreneurs may include their spouse, dependents, one business partner and three executives.

Individuals who do not fall under the investors or businessmen eligibility criteria may apply if they possess specialised professional talents. Individuals who are researchers in the fields of science and knowledge such as doctors, specialists, scientists, inventors as well as creative individuals in the field of culture and art may apply as well.

Under this category, the specialised talented individuals may be granted a 10-year visa.

Other categories include:

> Scientists must be accredited by Emirates Scientists Council or holders of the Mohammed Bin Rashid Medal for Scientific Excellence

> Creative individuals in culture and art must be accredited by Ministry of Culture and Knowledge Development

> Inventors must obtain a patent of value, which adds to the UAE's economy. Patents must be approved by Ministry of Economy

> Exceptional talents must be documented by patents or a scientific research published in a world-class journal

> Executives must be owners of a leading and internationally recognized company or holders of a high academic achievement and position

Ashish Mehta is the founder and Managing Partner of Ashish Mehta & Associates. He is qualified to practise law in Dubai, the United Kingdom and India. Full details of his firm on: www.amalawyers.com. Readers may e-mail their questions to: news@khaleejtimes.com or send them to Legal View, Khaleej Times, PO Box 11243, Dubai.