The UAE Golden Visa program, introduced to attract and retain top talent and investors, has undergone significant changes in 2024. One of the most impactful updates is the new requirement for a basic salary of Dh30,000, which has left many professionals reassessing their eligibility for this coveted long-term residency. This blog delves into what these changes mean, who qualifies, and how to apply for the Golden Visa under the new rules.
What Is the UAE Golden Visa?
The UAE Golden Visa is a long-term residency program designed to attract skilled professionals, investors, entrepreneurs, and other exceptional talents to the country. It offers a 10-year renewable residency, allowing recipients to live, work, and study in the UAE without the need for a national sponsor. The program has been expanded over the years to include a wider range of professionals and investors.
New Dh30,000 Basic Salary Requirement:
In 2024, the UAE government introduced a key change to the Golden Visa application process: a minimum basic salary of Dh30,000 per month. This requirement is now crucial for professionals seeking the 10-year residency. Previously, the total compensation package, including allowances such as housing and transport, was considered. However, the new rule focuses solely on the basic salary, excluding any additional allowances.
This shift raises the bar for eligibility, ensuring that only those with substantial earning capacity can apply. For professionals in managerial roles or specialized fields, this requirement emphasizes the UAE’s intent to attract high-caliber individuals who can contribute significantly to the country’s economic and social development.
Who Qualifies Under the New Rules?
The new salary requirement primarily affects skilled professionals, particularly those in roles like managers, directors, engineers, and doctors. These professionals are already in high demand in the UAE, and the Golden Visa offers them a pathway to secure long-term residency.
Eligible categories include:
- Professionals in Medicine, Sciences, and Engineering: Doctors, scientists, and engineers who meet the salary requirement are prime candidates.
- IT and Business Professionals: Those in the information technology and business administration sectors are also eligible.
- Education and Law: Teachers, lawyers, and other professionals in the education and legal sectors can apply if they meet the basic salary criteria.
- Cultural and Social Sciences: Individuals working in the arts, culture, and social sciences are also included.
Additionally, the visa is available to investors and entrepreneurs who meet specific investment criteria, which we will discuss further.
Benefits of the Golden Visa:
The Golden Visa offers numerous benefits that make it a highly desirable option for professionals and investors alike:
- Long-Term Residency: The 10-year renewable visa provides stability for the holder and their family.
- Family Sponsorship: Visa holders can sponsor their spouses, children, and other dependents, ensuring that their entire family can enjoy the benefits of living in the UAE.
- No Need for a National Sponsor: Unlike other visa types, the Golden Visa does not require a national sponsor, giving the holder greater independence.
- Business and Property Ownership: Visa holders can own and operate businesses, as well as purchase property in the UAE.
- Ease of Travel: Golden Visa holders enjoy greater ease of travel in and out of the UAE, with minimal bureaucratic hurdles.
How to Apply for the Golden Visa?
Applying for the Golden Visa involves several steps, and meeting the new basic salary requirement is just the beginning. Here’s a breakdown of the process:
- Verify Eligibility: Ensure that you meet the basic salary requirement of Dh30,000 and belong to one of the eligible professional categories.
- Prepare Required Documents: Gather necessary documents, including your employment contract, proof of salary, degree certificates, and any relevant professional licenses.
- Submit Your Application: Applications can be submitted online through the UAE government portals, such as the GDRFA (General Directorate of Residency and Foreigners Affairs) or ICP (Federal Authority for Identity, Citizenship, Customs and Port Security).
- Wait for Approval: The processing time can vary, but you should expect to wait several weeks for your application to be reviewed and approved.
- Receive Your Visa: Once approved, you will receive your Golden Visa, granting you 10 years of residency in the UAE.
Costs and Investments:
The cost of obtaining a Golden Visa can vary depending on the applicant's circumstances. In addition to the application fee, there may be additional costs for dependents, health insurance, and other related expenses.
For those applying through investment, the minimum investment amount remains a key factor. Real estate investors, for example, must make a qualifying property purchase, while entrepreneurs may need to demonstrate a certain level of business investment.
At Plan My Firm, we specialize in guiding professionals through the complexities of the UAE Golden Visa application process. With the recent introduction of the Dh30,000 basic salary requirement, our team is here to help you assess your eligibility, gather the necessary documents, and navigate the application steps. We offer personalized support to ensure that your application is complete, accurate, and stands the best chance of approval. In addition to Golden Visa services, our main expertise lies in business setup in Dubai, UAE. We also provide a wide range of other business support services to help you establish and grow your business successfully in the region. Whether you're looking to secure a Golden Visa or need comprehensive business support, Plan My Firm is your trusted partner.