Golden Residency Permit in UAE for INR 23 Lakh: Does Reality Live Up to Expectations?
The United Arab Emirates (UAE) has introduced a new nomination-based visa policy for obtaining a UAE Golden Visa, a long-term residency visa that allows international talent to live, work, and study while enjoying exceptional benefits. This maiden rollout, jointly set up by VFS ETM and Rayad Group, will be available in several cities in India.
The new policy eliminates the need for property investment or trade licenses, making it more accessible to a broader range of professionals and specialists. Applicants can obtain pre-approval for the UAE Golden Visa from their home country without the need to visit Dubai. The one-time fee for the Golden Visa under the nomination-based policy is AED 100,000 (approximately Rs 23.3 lakh).
The updated visa program covers a wide array of professionals and specialists, including scientists, researchers, and educators, university faculty, school teachers, and nurses with over 15 years of experience, start-up founders and business professionals, digital content creators like YouTubers and podcasters, accredited e-sports professionals over 25, maritime industry professionals, and luxury yacht owners.
Applicants under this policy must fulfill specific conditions, such as providing standard documents like a valid passport, recent passport-sized photo, medical fitness test results, police clearance certificate, and Emirates ID or copy if previously issued. They must also show financial ability to support themselves, prove financial self-sufficiency, have valid private health insurance, and undergo rigorous background screening, including checks for anti-money laundering, criminal records, and social media reviews.
Depending on the category, applicants may need to submit additional documents such as investment proof, business incorporation papers, startup funding proof, employment contract, degrees, professional licenses, recommendations, published work, awards, or official UAE recognition.
The new centers in India will utilize Generative AI technology and legal expertise to assist individuals with the migration processes and compliance with immigration regulations. It's important to note that the visa approvals will go through a vetting process and will not be granted solely based on the payment of the fee.
The nomination-based Golden Visa offers lifetime residency and allows sponsorship of family members, domestic workers, and drivers. Unlike the previous property-based visa, this visa remains valid regardless of property ownership or sale. Application submission is facilitated through authorized centers and online portals, with no requirement to visit the UAE during the process.
The UAE Golden Visa is one of the services offered by the UAE's Federal Authority for Identity, Citizenship, Customs, and Port Security. The background check will also assess the potential benefits the applicant can offer to the UAE's market and business activities.
Over 5,000 Indians and individuals from Bangladesh are expected to apply for the nomination-based UAE Golden Visa in the first three months. Eligible individuals, including business owners, professionals, scientists, entrepreneurs, creatives, and influencers, can apply for the UAE Golden Visa and contribute meaningfully to the UAE's sectors like culture, science, finance, startups, and trade.
The new nomination-based Golden Visa policy, open to professionals in fields like finance, technology, and education among others, eliminates the need for property investment or trade licenses, making it more accessible to a broader range of applicants. Applicants must fulfill specific conditions such as providing financial ability to support themselves, proof of medical fitness, police clearance certificates, and undergo background screening, including checks for anti-money laundering and criminal records. The visa approvals will go through a vetting process and will not be granted solely based on the payment of the fee. The updated visa program offers lifetime residency, allowing sponsorship of family members, domestic workers, and drivers, and remains valid regardless of property ownership or sale.
