UAE's Golden Visa now available without Investment

Adopted under a new nomination-based visa policy, the UAE is allowing Indians to apply for the Golden visa with one time fee of just AED 1 lakh. Indians are now eligible for Golden visa for AED 1 lakh, approximately INR 23.30 lakh, compared to earlier aspects mandatory for the visa, which is to invest in property whose value be at least 2 million AED, (INR 4.66 crores) or invest in business in the UAE or trade license or business investment.

 India and Bangladesh have been selected for the first phase of testing this visa type as a pilot program. It is expected to expand to other CEPA (Comprehensive Economic Partnership Agreement) partner countries in later phases.

Consultancy named Rayad Group has been chosen as an extended partner with VFS Global or One Vasco Centres.

 Benefits of the UAE’s Golden Visa

 1.   Permanent Residency

The most important benefit applicants will receive will be permanent residency. It imparts PR without any boundation for sponsorship or requirement of any prior job application.

 2.   Work and Business Freedom

Another benefit that would shower applicants is the freedom of Work and business to be sourced anywhere in the UAE.

 3.   Tax Advantage

A major benefit that would attract many applicants is the tax advantage provided by the UAE government. Applicants are freed from income tax and any sales tax.

 Application Process for UAE’s Golden Visa

A structured application process will certainly lead to the UAE’s Golden Visa in no time:

1.   Nomination

The foremost step is the nomination applied for the Golden Visa. Apply for the nomination with VFS Global or One Vasco centres available in India.

 2.   Background Check

Once the nomination has been filed, authorities will check the applicant's background, which includes anti-money laundering and criminal record checks. Applicant’s social media will also be under the scanner.

Authorities will also evaluate applications based on social upgradation that any applicant would produce to the UAE’s market and business activities in any such way, such as culture, finance, trade, science, start-up or professional services.

 3.   Documentation

Applicants must prepare and gather documents required at the time of application, these are:

●    Valid passport copy (minimum 6 months validity).

●    Comprehensive personal and professional profile (CV/resume).

●     Proof of highest academic qualification (attested by the UAE Ministry of Education)

●     Evidence of professional recognition, awards, publications, or contributions relevant to the field.

●     Recommendation letters from relevant UAE authorities or approved entities (e.g., the Ministry of Health & Prevention for doctors, Emirates Scientists Council for scientists, Dubai Culture for artists).

●     Bank statements (personal or company, often for the last 6 months).

●     Police clearance certificate from the home country.

●     Medical fitness certificate.

●     Health insurance (valid local health insurance or recognized non-local insurance).

●     Employment contract (if applicable, approved in UAE).

●     Salary certificate (for skilled professionals, often a minimum monthly salary of AED 30,000 is mentioned).

 4.   Application Fee

There is a one-time application fee of AED 1 lakh to be paid by the applicant during the application submission.

 5.   Final Decision

The final decision on the nomination-based Golden Visa lies with the Government of the UAE.

 6.   Emirates ID & Visa Issuance

Upon approval, applicants will proceed with medical tests, biometrics, and will receive an Emirates ID and a Golden Visa.

 The introduction of the Nomination-based category over the property-based Golden visa is being seen as an opportunity that lasts a lifetime, as the property-based visa is only applicable till the time of the property is not being sold or divided, but the nomination-based visa will remain forever.

 This kind of agreement between the UAE and India was initiated through CEPA (Comprehensive Economic Partnership Agreement), which was made effective from May 2022. With this agreement, economic, cultural, and geopolitical ties have grown stronger over the years.