The United Arab Emirates has recently launched a new visa status called the ‘Gold Card Residency Visa’. This new opportunity was initiated by the Government of Dubai to encourage individuals to invest in the country. It also attracts highly qualified professionals and students to apply for this permit, through a simple procedure, at the accredited centers in the UAE. Applicants seeking the Gold Card Residency Visa from abroad are able to apply online on the Federal Authority for Identity and Citizenship website.
The UAE ‘Gold Card’ includes categories of 5 and 10-year residency permits in three categories investors, entrepreneurs and special talents issued by the Council of Ministers. This means CEOs, real estate investors (property of more than AED 5 million), inventors, entrepreneurs and specialized doctors and teachers in rare fields are all eligible to apply for this special visa. Investors investing at least AED 10 million would qualify for 10-year visas, while entrepreneurs and special talents would be entitled to 5-year residency.
The gold card visa is renewed automatically every 10 years, provided the individuals applying for the permit adhere to the GDFRA’s terms and conditions and are still functioning in the same activity. The General Directorate of Residency and Foreign affairs is planning to issue a further 6,400 gold card visas by the end of the year. The first batch of investors would hold total investments of AED 100 billion ($27 billion).
His Highness Sheikh Mohammad Bin Rashid Al Maktoum has also said that the UAE was and will continue to help people pursue their dreams and better their lives and the Gold Card is the countries way of welcoming those who seek to be part of the UAE’s success story and make it a second home
The permanent residency programme will drive long-term competitiveness of the real estate industry and attract better-quality, long-term foreign direct investment (FDI) to the country, in consideration of the World Expo (Expo 2020) that takes place next year.
Kelmer Middle East have been assisting business owners and entrepreneurs in this region for more than two decades. We are an International Service Organization that helps companies access the fast-growing UAE market. If you are looking to invest in the UAE, you can reach out to our experts at Dubai@kelmer.com and we would be more than happy to assist you.