Another category of long-term UAE residency visas is the UAE business visa issued under the Gold Card Visa UAE system. Long-term UAE residency is offered to the holder (entrepreneurs, investors, and special talents) for up to 5 or 10 years instead of the two-year standard visa.
This Business Gold Visa is for non-national entrepreneurs who wish to set up business operations in the country while living in and even outside the UAE. This permanent residency is contingent the applicant’s continuing adherence to the terms and conditions on each visa renewal cycle (5 years).
How Does The UAE Golden Visa Help?
Here are some benefits of a UAE golden visa besides increasing the ease of setting up your business in the UAE:
- Long-term residency visa for the dependents (parents, children, and spouses) with certain conditions.
- 6-month initial multiple-entry visa for business establishment procedures.
- 3 senior business personnel can be nominated for residency.
UAE Golden Business Visa Eligibility
The UAE Business Golden Visa scheme can be applied by entrepreneurs from all around the world, as long as they have set up their own business at least once in their professional career. Here is the eligibility for the entrepreneurs:
- Entrepreneurial experience must be authenticated.
- The majority shares must be held in a startup and/or a senior leadership position in it.
- Plan to legally set up a business and relocate to UAE
- Must have a business plan or ideas for their entrepreneurial venture in the UAE.
Specific Criteria For 10-Year Golden Residency Visa
It has been recently announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates (UAE) for the approval of 10-year golden residency for:
- Holders of doctorate degrees
- Engineers in the fields of computer engineering, programming, electronics, electricity, and biotechnology
- Students from an accredited university with a recurring GPA of 3.8
The fulfilment of the Federal Authority for Identity and Citizenship’s requirements that include a health assessment as well as a thorough background check should be done by the candidate for the UAE Golden Visa. You may qualify for the UAE Golden visa but it is not a guarantee that you might receive the visa. Specialized committees evaluate the candidate for the UAE Business Visa.