Golden residence permit in the UAE: The path to elite status

Features and benefits of resident visas

A residence visa is the Arab equivalent of a residence permit, which gives a foreigner the right to live and conduct legal activities in the UAE. The minimum investment amount to obtain a residence permit in the UAE when purchasing real estate is currently 750,000 AED (204,000 $) - such a program operates in Dubai. In this case, housing can be purchased with a mortgage, but from your own money you must pay 50% of the cost of the property or at least 750,000 AED. How long a residence permit is valid depends on the type of visa and the applicant himself. Thus, investors, entrepreneurs, scientists and unique specialists can apply for a golden visa. In particular, to get it, you need to invest at least 2,000,000 AED (544,500 $) in real estate. Previously, the program assumed larger amounts and allowed different terms - 5 or 10 years, depending on the amount of investment. However, from September 2022, all buyers of real estate worth AED 2,000,000 or more will be issued a golden visa for 10 years - except for Abu Dhabi, which will be discussed separately.

Benefits of UAE Resident Visa

The main thing that a residence permit in the UAE gives is that investors and their families can move to the UAE, one of the richest and most developed countries in the world.

• Income, capital gains, inheritance, gifts and real estate are exempt from taxation in the UAE.
• An investor with a residence permit can open accounts in UAE banks in dollars, euros, dirhams or other currencies.
The account is suitable for savings and international transfers.
• Possibility of obtaining a driver's license. A resident must obtain a UAE driving license to drive a car there.
A test is usually required, but citizens of the USA, Britain, Germany, Australia, Turkey, Spain and some other countries can simply exchange their license.
• Foreigners with a residence permit in the UAE can undergo treatment in clinics in the country. The UAE is a global center for medical tourism;
local specialists in dentistry, orthopedics, dermatology and reproduction are in high demand.
• The investor's children can attend schools and universities in the UAE. There are several international schools in the country, and higher education programs
are carried out mainly in English.

In Abu Dhabi, as part of the Thrive in Abu-Dhabi program, you can get a long-term visa for 5 or 10 years. One of the options for obtaining it is purchasing an apartment in Abu Dhabi

Types of resident visas and conditions for obtaining them

Visa for 3 years

Three-year visa - residence permit in the UAE when purchasing real estate in the amount of 750,000 AED (204,000 $). This visa can be extended an unlimited number of times as long as the property purchased under this program remains your property.

To obtain a three-year real estate investment visa, you need to take into account a number of features:

• the property can be purchased with a mortgage, provided that 50% of the loan amount has been paid by the time the visa application is submitted;
• objects more expensive than 750,000 AED, taken on a mortgage also qualify for the program, but with a caveat - at the time of applying for a visa, the established amount of 750,000 AED has already been paid;
• owners of several (up to three) properties with a total value of 750,000 AED are also entitled to a three-year visa.

Visa for 5 years

The 5-year visa, also known as the green visa, is a long-term and renewable visa permit available to skilled professionals, freelancers and investors who can support themselves for five years. The green visa provides more benefits to the applicant's family members:
• easy to obtain residence permits for family members, including spouse, children and first-degree relatives;
• Parents can sponsor their male children up to 25 years of age, with no age restrictions for unmarried daughters.

The place of residence of the family members will be the same as that of the applicant. Freelancers can apply for a green visa with permission from the UAE Ministry of Human Resources and Emiratization, a confirmed bachelor's degree or specialist diploma and an annual income of AED 360,000 (98,000 $) - a two-year certificate will be required. Qualified employees will need a valid employment contract, at least a bachelor's degree and a salary of at least 15,000 AED (4,000 $). Investors can also apply for a green visa.