Significant changes and updates have been made to enhance the golden visa program which is designed to retain residency for foreign investors, entrepreneurs, specialized talents and other remarkable professionals. The aim is to promote the UAE as a global hub for business, innovation, and lifestyle, evolving to meet the dynamic needs of the global economy.
The most important update includes an updated eligible criteria and an introduction of new benefits and incentives, to ensure a high standard of applicants.
The new eligibility criteria is as follows:
- Entrepreneurs: Expanded to include startup founders and innovators with a proven track record.
- Investors: Increased minimum investment thresholds and more stringent documentation requirements.
- Scientists and Researchers: Enhanced criteria to include those with significant contributions to their fields.
- Specialized Talents: Broadened to include more professions such as technology experts, medical professionals, and academic scholars.
The application process for the visa has also been updated to be more efficient and user-friendly. The updated process includes:
- Initial Assessment: Initial evaluation of eligibility based on submitted documents.
- Document Submission: Detailed submission of required documents, including proof of investment, professional qualifications, and other relevant materials.
- Review and Verification: Comprehensive review and verification of submitted documents by relevant authorities.
- Final Approval: Issuance of the Golden Visa upon successful verification and approval.
Existing visa holders benefit from the updated program through enhanced services and additional incentives. Those who meet the new criteria can also apply for an extension of their current visas.
