Embarking on a journey of economic evolution, the UAE unveils its Golden Visa program, a gateway to unparalleled opportunities. In this exploration, we delve into the intricacies of the UAE Golden Visa and its synergy with the world of travel, emphasising the significance of online international travel insurance, particularly in Dubai’s vibrant landscape.
The United Arab Emirates (UAE) is embarking on a strategic initiative, introducing fifty projects to boost industrial development and competitiveness. Among these, technology-based projects are pivotal, aiming to attract foreign nationals and skilled labour. The ‘Golden’ visa system is a cornerstone in this effort.
The UAE Golden Visa: Overview
In 2019, the UAE launched the Golden Visa, offering long-term residency to foreigners for work, study, and residence. This initiative aims to attract global talent, particularly to Dubai, fostering economic growth.
Eligibility Criteria:
- International Investors: Those investing a minimum of AED 10 million qualify for a 10-year visa, while AED 5 million investors can apply for a 5-year visa. Investments must be maintained for three years, with no lending involved.
- Specialised Talent: Individuals with unique skills, accredited by relevant authorities, can obtain a 10-year visa. This includes scientists, artists, and educators from approved international universities.
- Real Estate Investors: Similar to general investors, real estate investors can apply for a 5-year visa after making a minimum investment of AED 5 million.
- Exceptional Students: High school students with a minimum grade of 95% and university graduates with a GPA of 3.75 or higher qualify for a Golden Visa.
- Business Owners: Those with approved projects requiring a minimum capital of AED 500,000 or approval from an authorised business incubator can apply.
- Chief Executives: Bachelor’s degree, five years of experience, a valid UAE work contract, and a salary of at least AED 30,000 are required for executives.
- Families: The Golden Visa covers the spouses, children, chief executives, and advisors of the visa holder.
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Application Process:
Applications can be submitted online to the General Directorate of Residency and Foreigners Affairs (GDRFA) or the Federal Authority for Identity and Citizenship (ICA). GDRFA allows both online and offline applications through approved typing centres.
Cost Of Application:
The 5-year Golden Visa costs AED 650, and the 10-year visa costs AED 1,150.
Advantages Of The UAE Golden Visa:
The Golden Visa grants 100% ownership of businesses, a six-month entry visa with multiple entries, and residency permits. Visa holders are permitted to sponsor their spouses and children of any age.
As the UAE’s Golden Visa opens doors to new horizons, it aligns seamlessly with the necessity of safeguarding these ventures. Considering the dynamic travel landscape, integrating online international travel insurance becomes pivotal.
Securing comprehensive Bajaj Allianz travel insurance in Dubai ensures a worry-free and protected journey in the vibrant and dynamic city. Exploring options like Bajaj Allianz travel insurance renewal ensures a comprehensive safety net, harmonising the wonders of the Golden Visa with the assurance of secure and uninterrupted journeys. This convergence exemplifies a holistic approach, propelling individuals towards success while prioritising their well-being in global exploration. Claims are subject to terms and conditions set forth under the travel insurance policy.
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