validity period of a UAE Golden Visa

In addition to providing a convenient route to long-term residence in the UAE, the Golden Visa offers other advantages. For example, it enables investors to sponsor family members and domestic helpers and enjoy a variety of benefits such as reduced mortgage rates and savings account interest rates. Additionally, it makes it easier to get a driver’s license and receive discounts on higher education. Furthermore, family members of a Dubai Golden Visa holder can attend some of the country’s top international schools and universities such as Dubai British School Jumeirah Park and Dunecrest American School.

UAE Golden Visa holders can also invest in real estate and other financial assets. Investors must commit to a minimum investment of AED 10 million, which cannot be financed with loans. Furthermore, the investment must be held for three years to maintain the visa’s validity. Moreover, the investments must be in sectors that have been identified as strategic for the UAE’s future economic growth.

The UAE government has recently expanded the eligibility criteria for the Golden Visa. It now includes doctors, scientists, creative people of culture and art, inventors, executive directors, athletes, and doctoral degree holders. Furthermore, the emirate of Abu Dhabi has added senior scholars and clerics to the eligible categories for its Golden Visa.

How long is the validity period of a UAE Golden Visa?

Additionally, a recent change in rules makes it easier for families of Golden Visa holders to stay outside the country for more than six months without losing their residency status. This rule change applies to all family members sponsored by a UAE Golden Visa holder, including children who received 10-year residence permits under the scheme. The new rule was announced by the Federal Authority for Identity, Citizenship, Customs and Port Security (ICA) in Abu Dhabi and Dubai.

The rules were also modified to allow Golden Visa holders to apply for a new visa within six months of the expiry date or cancellation of their existing one. Previously, the period was 30 days and was subject to fines for those who overstayed their visa. The authorities did not announce a rollback of this exemption, so the change will likely be effective from 2023. It is expected to encourage foreign nationals to renew their visas and remain in the UAE.

The new rule is a great step towards promoting a more flexible and open-minded immigration policy for foreign nationals. It will help the UAE to attract more quality talent and boost its economy. This in turn, will increase its competitiveness globally. Consequently, it will boost the UAE’s ranking in the ease of doing business index. This will eventually contribute to increased foreign investments in the country.