The UAE has reportedly launched an expanded Golden Visa program, offering lifetime residency to select Indian nationals through a nomination-based route. This new initiative significantly reduces the financial barrier compared to previous investment-heavy options, aiming to attract skilled professionals and foster deeper ties between the nations.
UAE Unveils New Golden Visa Pathway for Indians
The United Arab Emirates has reportedly introduced a pilot project for a nomination-based Golden Visa, making long-term residency more accessible to Indian citizens. This new scheme, which is said to start at approximately 23 lakh Indian Rupees (AED 100,000), marks a significant departure from the previous requirement of substantial investments, such as AED 2 million (approximately 4.66 crore INR) in property.
Key Takeaways
- Reduced Cost: The new nomination-based Golden Visa is significantly more affordable than the traditional investment-based routes.
- No Investment Required: Unlike previous versions, this visa does not necessitate property or business investments.
- Nomination-Based: Eligibility is merit-based, requiring applicants to be nominated for their professional achievements or potential contributions to key UAE sectors.
- Family Sponsorship: Golden Visa holders can sponsor their immediate family members, including spouses, children, and parents.
- Pilot Program: The initiative is currently in a pilot phase, starting with India and Bangladesh, with plans for future expansion.
Eligibility and Application Process
Eligibility for the nomination-based Golden Visa is not universal; it is highly selective and merit-based. Applicants must demonstrate professional accomplishments or potential contributions in fields such as science, education, entrepreneurship, digital content creation, and other specialized talents. Categories include researchers, experienced teachers, startup founders, YouTubers, podcasters, and e-sports professionals.
The application process involves:
- Background Check: A thorough screening process, including anti-money laundering checks, criminal record verification, and social media audits.
- Nomination: Applicants must be nominated by relevant UAE authorities or authorized entities.
- Pre-Approval: Candidates can obtain pre-approval from their home country without needing to travel to the UAE.
- Document Submission: Required documents include a clear passport copy, past UAE visas (if any), recent passport-sized photos, proof of eligibility, financial statements, valid health insurance, and a police clearance certificate.
Benefits and Future Outlook
Recipients of the Golden Visa gain long-term residency in the UAE, typically for 5-10 years, with the ability to sponsor their family members. This residency permit allows individuals to live, work, or study in the UAE, enjoying benefits such as no income tax, capital gains tax, or inheritance tax. It is important to note that this visa is strictly a residency permit and does not lead to citizenship.
While the program is currently in a pilot phase, its success with Indian and Bangladeshi applicants could pave the way for its expansion to other nationalities and further solidify the UAE’s position as a global hub for talent and business.
Sources
- Is UAE offering Indians Golden Visa for Rs 23 lakh?, India Today.
- UAE’s nomination-based Golden Visa vs real estate-linked residency: Know the key differences, Moneycontrol.
- Rs 23 lakh UAE Golden Visa a marketing gimmick? It’s a ‘rebranding’ of the existing practices, says
immigration consultant – Investing Abroad News, Financial Express. - UAE’s Golden Visa: Cost, application process, documentation, India Today.
- Want the UAE Golden Visa for ₹23 lakh? Here’s what really stands between you and approval, Business Today.
