Good news for Indians as UAE announces lifetime residency under Golden Visa, applicants need to pay..., documents required are...
It is important to note that until now, one way for Indians to obtain Dubai's Golden Visa was by investing in property. The investment in property would have required a substantial investment of at least Rs 4.66 crore. Under this new UAE visa policy, Indians will be able to avail the lifetime benefits of the UAE's Golden Visa by paying a fee of Rs 23.30 lakh. How Many People Benefited?
According to the reports, under this scheme, more than 5,000 Indian applicants are likely to get the Golden Visa in the first three months. The initiative by the UAE government marks an important shift from the traditional investment-based model. The main motive behind this initiative is to attract professionals contributing to fields such as culture, business, science, and finance. Here are some of the key details: India and Bangladesh have been selected for the first phase of this visa trial.
For the initial rollout of the nomination-based Golden Visa in India, Rayad Group Consultancy has been chosen.
Rayad Group's head, Rayad Kamal Ayoub, stated that this is a golden opportunity for Indians to obtain the UAE's Golden Visa.
Indians who want to obtain the 'Golden Visa' will have to pay a one-time fee of 100,000 dirhams, which is approximately 2.33 million Indian rupees.
By paying this fee, Indian nationals can acquire lifetime residency in the UAE without the need to invest in property or business (i.e., without a trade license or property purchase).
Under this scheme, more than 5,000 Indian applicants are likely to get the Golden Visa in the first three months. What are the benefits of this visa?
Those who obtain the Golden Visa will enjoy several benefits. They can bring their family members to the UAE, hire employees, and participate in business or professional activities within the UAE. How to Get the Golden Visa
Rayad Kamal said, 'When an applicant applies for the Golden Visa, we first conduct a thorough background check. This includes anti-money laundering and criminal record verification, along with screening their social media presence. The background check also helps determine how the applicant can contribute to the UAE's market and business ecosystem through fields like culture, finance, business, science, startups, and professional services.'
Those who are applying must note that the visa application process involves multiple layers of verification, including anti-money laundering checks, criminal background screening, and social media review, and the final nomination authority rests with UAE government officials.
This initiative by the UAE government is the testimony of growing economic and strategic ties with India following the Comprehensive Economic Partnership Agreement (CEPA) signed in 2022. The program is expected to be expanded in later phases to include other CEPA partner countries, including China.
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