TL; DR
- The new nomination-based Golden Visa for the UAE is currently in a pilot phase, during which only nationals from India and Bangladesh are eligible to apply.
- Individuals are granted a visa based on a comprehensive background check, which includes any instances of money laundering, criminal records, and societal influence.
- Indian nationals interested in the new Golden Visa can apply via One Vasco centers in India, Rayad Group’s registered offices (in collaboration with VFS) across India.
- If approved, you’ll be required to pay a one-time fee of AED 100,000 (approximately INR 23.3 lakhs) for the Golden Visa.
As part of a new program launched by the UAE government, Indian nationals can now apply for a “Nomination-Based Golden Visa,” which offers lifetime residency for a one-time fee. The new UAE Golden Visa eliminates the previous requirement to invest a substantial amount in local properties or businesses, or to renew the visa every five or 10 years.
A direct source of revenue for the UAE government and an indirect contributor to the local economy, the updated Golden Visa targets skilled professionals from diverse backgrounds. It also offers family sponsorship, including that of spouses, children, parents, and other domestic staff. Here are more details about the Golden Visa for the UAE, its benefits, application process, fees, and other important information.
UAE’s Nomination-Based Golden Visa: What Does It Offer?
First and foremost, the new nomination-based Golden Visa for the UAE is currently in a pilot phase, during which only nationals from India and Bangladesh can apply. In the first three months, the UAE’s government is expecting to see over 5,000 Indian applications (which seems possible).
The new Golden Visa doesn’t require Indian nationals to invest a hefty amount in property or business in the UAE. It does require applicants to pay a one-time fee (disclosed later in the article). Individuals are granted the visa based on a comprehensive background check (which includes any money laundering instances, criminal records, societal influence, or the potential to contribute to the UAE’s progress).
Once the applicants pass the background check, they should be awarded the new Golden Visa, which comes with lifetime residency and the flexibility to migrate family members (including immediate spouses, parents, and children), as well as employed staff and domestic staff.
Currently, the Golden Visa applications are being processed by Rayad Group (in collaboration with One Vasco and VFS centers in India). Although we couldn’t access the Rayad Group’s website while compiling the article, we could locate this relevant landing page on the ICP UAE website.
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UAE’s Nomination-Based Golden Visa: Who Can Apply?
Applications for the nomination-based Golden Visa for the UAE are now open to a wide range of professionals and individuals.
- Senior professionals in the field of education, healthcare, and the corporate sectors, like educators, scientists, nurses, doctors, or executives with 15+ years of experience.
- Digital content creators, YouTubers, podcasters, authors, and filmmakers with an established presence on the internet.
- Renowned E-sports professionals with an age of over 25.
- Luxury yacht owners and maritime industry workers.
- Young start-up founders who can’t invest in the property of businesses.
UAE’s Nomination-Based Golden Visa: How To Apply?
Indian nationals interested in the new Golden Visa can apply via One Vasco centers in India, Rayad Group’s registered offices (in collaboration with VFS) across India (in cities like Delhi, Mumbai, Ahmedabad, Chennai, Hyderabad, and Pune), Rayad Group’s online portal, or call center.
After you apply, the authorized agencies will conduct a thorough background check, including an anti-money laundering review, a criminal record check, and a review of your social media activity.
An individual’s societal contributions or potential value that could benefit the UAE’s economy should also be considered, including those in areas such as culture, finance, trade, science, start-ups, and professional services.
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Once the background check is complete, Rayad Group will forward the Golden Visa application to the UAE’s government for final review and approval. If approved, you’ll have to pay a one-time fee of AED 100,000 (about INR 23.3 lakhs) for the Golden Visa, and, in return, get lifetime residency in the UAE.
It’s essential to note that applicants can initiate the process and secure pre-approval from their home country without traveling to Dubai.
UAE’s Nomination-Based Golden Visa: Key Benefits
- The most significant benefit of the new Nomination-Based Golden Visa is lifetime residency, which eliminates the need to renew the visa every five or 10 years (as is the case with the conventional Golden Visa linked to investment in property or business).
- Golden Visa holders can be self-sponsored, i.e., they do not need a local sponsor in the region. Further, they can sponsor their immediate family members, employees, or domestic staff.
- Benefits from the UAE’s tax-efficient environment, where the government doesn’t charge any personal income tax, capital gains tax, or inheritance tax on the professional or business income generated by individuals.
Writer’s Note: There appears to be some confusion about whether the lifetime residency is subject to renewal. We’ll update the article as soon as we gather more information about this.
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Moreover, the new Nomination-Based Golden Visa shifts focus from an individual’s investment capacity to talent. It strengthens international partnerships between the UAE and India, fostering economic growth, innovation, and international cooperation.
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