The UAE government introduced the Citizenship by investment scheme in its Golden Visa Programme in 2021. The purpose of this was to attract foreign investors and talented professionals to migrate to the UAE. UAE has been very active among the GCC countries and a lot has been done on part of the government to promote ways in which willing individuals can obtain a Dubai investment visa since most foreigners decide on Dubai as a place of settlement in the Middle East. The vision behind introducing the citizenship by investment scheme or the Gold Visa scheme was to boost the economy of the UAE.
We at Vazir have curated a set of researched programmes about citizenship by investment and residence program. Our team undergoes continuous updates and develops solutions that answer your queries regarding migration and citizenship.
Golden Visa: Gateway to Opportunities
A Golden Visa can be achieved by immigrants who can get a residence permit and citizenship on making a public investment or real estate investment. An investment by buying a house or by making a lump sum investment or even by making a donation is the way to begin. Dubai has been well sought after due to the availability of affordable luxury homes. The other favourable factors for choosing Dubai are its agreeable government measures, for instance, UAE’s long-term visas of five and ten years to professionals, investors, and specialists in scientific, research, technical and medical fields.
To know further on real estate investment you can visit us at Vazir Group. Where we have detailed guidelines to enlighten you about the process and help you navigate along it.
What is Investment Scheme and How to Apply It
Foreign citizens who want to apply for UAE citizenship by investment fall under the categories of skilled professionals like scientists, medical staff and doctors, authors and artists, engineers and researchers. They can immigrate to Dubai with their families. Another option for immigrating would be to acquire an investment visa by starting a company in Dubai. The simplest way of securing a Gold visa is to invest in real estate as the investment size for real estate has been reduced to AED 2 million making it a reasonable deal for investors. The tax-friendly situation in Dubai makes way for easy business and is also another reason to invest as there’s no capital Gain tax in Dubai.
Citizenship by investment in Dubai and The Immigrants in the Special category Qualifying for Application
The recent amendments in the legislation allow certain categories of foreigners already living in the UAE to apply for the Dubai investment visa. The following types of people can do so:
- Investors already owners of real estate in the Emirates
- People in scientific, medical, research and technical fields
- Investors whose at least one parent is recognised by the Government of UAE
- Artists and creators who have at least one international award to their name.
These include spouses and minor dependent children in investment application passports. Citizenship by investment through companies in Dubai can be an option for foreigners who want to own properties and start a business. This is also great for people's interest in profit-making in the gala business hub of the Middle East.
Which is better Immigration to Dubai by residency or citizenship by investment?
Citizens interested in relocating to the UAE have choices between citizenship by residency or citizenship by investment. The catch is when it comes to applying for residency there's no bar but when it comes to acquiring citizenship the nominees undergo a process of election by the Executive Council, The Ruler of Crown Prince Courts in Dubai. Besides these, there’s also an investment requirement charted for the Dubai residence program. The requirements are as follows:
- Public investment of value of at least 10 million AED or approximately 2.3 million USD in various parts.
- Purchase of real estate property amounting to a value of at least 1 million AED or approximately real estate property purchase with value of at least 1 million AED or approximately 367,000 USD;
- Generating business will require an estimated investment of at least 500,000 AED.
It's good to note that each investment option given above leads to a long-term UAE residency by investment for the applicant and close members of the family and is followed by citizenship gradually. Other way around, for people willing to apply for citizenship by investment also have several residency options coupled with the scheme.
Investment Options for Applicants
Following are the options for those who are looking for obtaining Permanent Residency in Dubai by investment:
- An investment in the business will automatically enable the applicant to be eligible to start and operate a business in Dubai.
- One of the simplest ways to start the process of citizenship is to acquire real estate which also justifies why the visa is also known by the name Dubai property investment visa;
- Another option is retirement for people who want to migrate to Dubai;
- Going for investment in various government assets is another way to initiate the process of citizenship.
Requirement for 10-Year UAE Residence Visa for Investors
Making an application as an investor would require the applicant to make a public investment of a minimum value of 10 million AED.
The following are methods of investment:
- There should be a minimum of AED 10 million deposited in a locally-based investment fund.
- Starting a business of AED 10 million in the UAE.
- Building a partnership with an existing or new firm taking into account a minimum of 10 million AED as the share value.
- For making an investment in the above methods a minimum of 10 million AED must be done but on one condition to be maintained by the investor that is investment in every other sector leaving the real estate should not be less than 60 percent.
The requirements to go through
- The investor applicant must prove that they have enough funds and aren't running on loan.
- The investment is bound by a commitment of a minimum duration of three years.
- The investor must have a financial competence of up to the value of AED 10 million.
The visa is also eligible for an extension to accommodate any business partner if involved on the condition that each partner is capable of making an investment of 10 million AED. This visa also includes family members and colleagues.
Citizenship in Dubai by Investment and its Benefits
There are several benefits of obtaining citizenship in Dubai, among which the most important are:
- Allows the immigrant citizen to retain one’s former passport unlike any other country out there.
- Allows visa-free travel to almost 167 countries which is again unique.
- There is no requirement for tax filing and there's no personal income tax levied.
- Ensures the right to live work and study in the UAE.
- Registering assets is allowed by the government which is generally restricted to foreigners in other countries.
- Opening a bank account is also permitted when the foreigner becomes a UAE citizen.
How can Vazir Group Help?
A curated team of experts at Vazir Group will assist you in selecting the residency by investment option that fits perfectly for you. We will work together to lay out your personal requirements and proceed with the required documentation. To ensure the paperwork and verifying documents is our job which will be met with the desired accuracy. Our qualified team coupled with experience is one you can rely on for this part. Once done with the documentation work a final review by our residency specialists will finally prepare your file for submission. Everything would be done methodically to ensure possible ease in the process. Contact our team at the Vazir Group to begin your dreams of living in Dubai today, while making perfect choices for investment. To know more click here. We’ll be happy to help in your journey!
