UAE offering Indians lifetime Golden Visa for 23 Lakhs; check details

New Delhi (India) July 8: The new UAE Golden Visa model for Indians, which is based on nomination and offers lifetime residency for a one-time price of AED 1,00,000 (about Rs 23.3 lakh), received a lot of attention but the procedure is more complicated than that. The official UAE government website states that not everyone who has the money is immediately eligible.

Even with the implementation of a nomination-based model that seems to lower the investment barrier, eligibility is still tightly regulated and payment of the fee does not ensure approval. The official UAE websites state that there are particular documentation and clearance requirements for each category, including professional, student, entrepreneur and investor.

Investors must show capital ownership (not a loan) and invest AED 2 million (about Rs 4,67,64,760) in a fund or real estate recognised by the UAE. To be eligible for a 10-year visa, they must also pay AED 250,000 in UAE taxes each year and provide medical insurance.

Entrepreneurs must obtain approvals from auditors, incubators, and local authorities and own a business in the technology or innovation industry worth more than AED 500,000 (1,16,91,190 approximately).

Specialised skills: Government agencies must support sports, scientists, doctors, executives, and artists. A five-year experience letter and a pay certificate worth at least AED 50,000 (about 11,69,119) are also required for executives.

Students from highly regarded international universities who receive high GPAs or high school graduates who receive 95% of the possible points may be awarded visas for a period of five to ten years.

Frontline heroes and humanitarian workers: To be eligible, you must provide proof of your long-term service or acknowledged contributions.

A long-term residency visa that enables foreign nationals to live, work, or study in the United Arab Emirates is known as the Golden Visa. The benefits include the opportunity to stay outside the UAE for extended periods of time, several entrance possibilities, no sponsor need, a 5- or 10-year renewable visa, and full sponsorship rights for domestic help and relatives.

This new UAE nomination-based visa is good for life, even if you sell your home or shut down your company. You are no longer restricted by earlier investment regulations and are allowed to invite family members, drivers, and domestic staff. It is anticipated that more than 5,000 Indians will apply in the first three months.

Authorised organisations including Rayad Group, VFS, and One Vasco are offering the nomination-based Golden Visa, which was just made available to people of Bangladesh and India.

The UAE Golden Visa is still a merit-based system even though the most recent reforms appear to have made entrance simpler. It takes more than a bank account to apply, whether by investment, nomination, or academic achievement.

Aadrika Tayal