This visa is now in its first phase of testing; India and Bangladesh were chosen for this first phase. And in India, the Rayad Group consultancy has been contracted to conduct the initial testing of the nomination-based golden visa.
Dubai:
United Arab Emirates is desperately trying to make their residency program more amenable to professionals within the various sectors. This Gulf country, from a recent perspective, has introduced a new type of Golden Visa, one which is an endorsement-visa and comes with conditions. This gesture, unlike what it was a few years ago, where an applicant had to spend exorbitant amounts either on properties or on businesses set upon by the country, has surely come as a nice feeling for Indian nationals, composing one of the largest expat groups in the UAE.
The widened Golden Visa now extends to nurses, teachers, and content creators, thereby expanding this category which originally attracted entrepreneurs, investors, students, and professionals to this Middle-Eastern country for its tax benefits, unparalleled infrastructure, and stability.
What The Golden Visa Originally Offered
Launched in 2019, the program was originally tailored for high-net-worth individuals via real estate investment. In 2022, the Higher Court dropped the minimum amount for the purchase of property for a 10-year visa to AED 2,000,000, thus creating a much larger pool of investors. Immigrants could also obtain Dubai’s Golden Visa through very hefty investments into business in the country.
What New Program Offers
From May, scientists, company executives, frontliners, school teachers and principals, university faculty, nurses with 15+ years’ experience, YouTubers, podcasters and digital creators, accredited eSports professionals above age 25, and luxury yacht owners and maritime executives were all taken into consideration for the Golden Visa, besides investors, entrepreneurs, and top students.
Indians will be eligible for lifetime Golden Visa from now under the “new nomination-based visa system” by paying a fee of AED 1,00,000 (approximately INR 23.30 lakh), beneficiaries and those who are part of this process have told news agency PTI.
In a minimum of 3 months, the visa based on nomination, will be availed by over 5,000 Indians is what they said.
India On The Testing Group
India and Bangladesh have been chosen for the first phase of testing out this visa, and a consultancy called Rayad Group will be testing the preliminary model of the nomination-based golden visa in India. Indians have a “golden opportunity” to avail the UAE’s Golden Visa, says Rayad Kamal Ayoub, Managing Director.
The Selection Process
“When ever the applicant applies for this Golden Visa, we will first screen his background, that will include anti-money laundering, criminal record and social media,” Rayad Kamal told PTI.
If the applicant is able to benefit the UAE’s economy or market in any other way, the employment background check will also reveal how the candidate can be useful to the UAE, for example culture, finance, trade, science, Start-up, professional services, etc.
“After this, RayadGroup will submit the application to government, and the government shall decide with regard to the nomination-based Golden Visa,” he continued.
Advantages Of The Golden Visa In The UAE
Once you have the Golden Visa, you also have the freedom to bring your family members to Dubai. You can also maintain housemaids and drivers on this visa. You can do business of any kind or any professional here,” Rayad Kamal explained, adding that in case of property sale or division, the property-based Golden Visa will expire, but the nomination-based visa will never expire.