UAE says there no lifetime Golden Visa at Rs 23 lakh for 'certain nationalities'
It emphasised that all Golden Visa applications are handled exclusively through official government channels within the UAE, and that no internal or external consultancy entity is recognised as an authorised party in the application process. The reports of the launch of a pilot programme for a new kind of golden visa by the UAE had set social media abuzz with excitement. Unsurprisingly, the story had gone viral on Indian social media. Investment visas and residency programmes had been lapped up with great zeal by well-heeled Indian citizens in recent years.A top golden visa consultant based in Dubai had already told ET that United Arab Emirates authorities were unaware of any change in Golden Visa rules that would allow Indian citizens to purchase a lifetime Golden Visa to the Emirate on apayment of AED 100,000. No legal basis The Authority, as per the report had recently observed news articles from a consultancy office based in another country, suggesting that lifetime Golden Visas could be obtained for all categories from outside the UAE via consulting or commercial entities under simplified conditions. These claims have no "legal basis and were made without coordination" with the relevant authorities in the UAE.It also stated that legal action will be taken against entities spreading such false information in an attempt to illegally collect money from individuals aspiring to live and reside in the UAE, exploiting their hopes for a dignified and secure life. Too good to be true While controversial, such visa programmes have become a common route for wealthy families globally to relocate for tax, lifestyle, education and other reasons.Therefore, the prospect of a lifetime visa to enable relocation to Dubai, a city of choice for many, at the price of a mid-range SUV, seemed too good to be true.It all started with a story by the wire service PTI, disseminated widely, that claimed a new kind of golden visa was being piloted by UAE for India and Bangladesh, which would dramatically lower the financial outlay from about Rs 4 crore of investment to a mere Rs 23 lakh. The story made the distinction that this new kind of nomination-based visa was being offered in a test phase to Indian and Bangladeshi nationals.
The story quoted Rayad Kamal Ayub, MD of Rayad group, a consultant that has just launched an advisory programme for the UAE golden visa with visa services provider VFS Global, in India and Bangladesh. But the nomination-based route, which recognises an individual's ability to contribute to the economy of the UAE, and does not require any financial investment, has existed from the beginning of the golden visa programme in 2019 and is entirely granted at the discretion of the UAE government.
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