Latest news with #AndriBoiko
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Business Standard
21 hours ago
- Business
- Business Standard
Bahrain Golden Visa vs UAE: How Indians can choose the right Gulf path
Dubai's Golden Visa is often the most talked-about long-term residency route in the Gulf. But Bahrain, in 2022, rolled out its own version — the Bahrain Golden Residency Visa — as part of its Vision 2030 plan to diversify the economy. This visa offers a 10-year residency with renewal options, targeting global talent, investors, and long-term residents. According to Andri Boiko, founder and CEO of Garant In, an international citizenship advisory firm, Bahrain's offering is attractive for its affordability, flexibility, and ease of access. 'It offers low-stress, high-value living for expats ready to escape the status race,' Boiko explained to Business Standard. What Bahrain's Golden Visa offers According to Bahrain's Ministry of Interior – Nationality, Passports and Residence Affairs, key features include: • 10-year renewable residency for you and your family • No employer sponsorship requirement—freedom to switch jobs or start a business • No minimum stay condition, making it ideal for digital nomads or frequent travellers • Lower cost of living compared to Dubai or Riyadh • Family-friendly terms, allowing sponsorship of spouse, children, and even parents without extra income or property conditions • Quick online application and tracking system 'The government genuinely wants you there,' said Boiko. 'You can apply online, track your status in real time, and get support without a struggle.' Who can apply The Bahrain Golden Visa is open to four main categories of applicants: • Employed professionals earning at least BHD 2,000 (approx. ₹4.4 lakh or $5,300) per month, with five consecutive years of residence in Bahrain • Retirees receiving a monthly pension of BHD 2,000 within Bahrain, or BHD 4,000 (approx. ₹8.8 lakh or $10,600) if applying from abroad • Property owners holding real estate in Bahrain worth BHD 200,000 or more (approx. ₹4.4 crore or $530,000) • Individuals with exceptional talent in fields like science, arts, entrepreneurship, or sports Dependents—spouse, children, and parents—can also be sponsored under the same visa. How it compares with UAE's Golden Visa 'While the UAE Golden Visa is more globally recognised, with pathways for professionals, creatives, scientists, and students, its eligibility thresholds are higher and the process more selective,' said Boiko. For instance, investors in the UAE often need to commit upwards of AED 2 million (approximately ₹4.53 crore), and cities like Dubai and Abu Dhabi are far more expensive to live in compared to Bahrain. 'From a lifestyle perspective, Bahrain offers a slower, more community-oriented environment—ideal for those prioritising work-life balance and affordability,' Boiko said. 'It's especially attractive to Gulf-based expats looking for a permanent base without the financial intensity of the UAE.' However, he pointed out that the UAE still has stronger infrastructure, global air connectivity, and deeper business ecosystems—particularly in fintech, real estate, and innovation. 'When one goes to Dubai, they go to highly improved infrastructure,' said Boiko. 'When we are talking about Bahrain or Qatar, things are different. On the other hand, it gives you more opportunity, because the country is growing.' Caveats for Indian applicants According to Boiko, while the Bahrain Golden Visa may appeal to Indian professionals, retirees, and high-net-worth individuals, there are a few conditions to keep in mind: 1. It does not lead to citizenship Bahrain's Golden Visa is a long-term residency permit, not a route to citizenship. Dual citizenship is not permitted in either Bahrain or India, so if you're looking for a second passport for global mobility or security, this is not the path. The same applies to the UAE. 2. You must maintain your investment or income If you qualify by property ownership, the minimum BHD 200,000 property must be retained. Selling the asset without meeting another eligibility criterion could result in cancellation of your visa. 3. Renewal is conditional The visa is valid for 10 years, but renewal depends on continued compliance with the original criteria—whether income, pension, or investment. Bahrain's property market is smaller and less liquid than Dubai's. If you're buying property to qualify, be aware that reselling or exiting the investment may take time.
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Business Standard
5 days ago
- Business
- Business Standard
₹23 lakh Golden Visa? These residency schemes are meant only for ultra-rich
Golden Visas are for the ultra-wealthy, not middle-class dreamers. Last week, a fake scheme claiming Indians could secure a 'lifetime UAE Golden Visa' for ₹23.30 lakh went viral, offering what seemed like a budget-friendly shortcut to long-term residency in one of the world's wealthiest nations. Within 48 hours of the buzz, the UAE government shut down the story completely, calling it baseless and warning that such residency routes must go through official channels only. The fact is that the Golden Visas aren't for the average migrant. They're built for rich investors with deep pockets, not middle-class families. Golden Visas are for the wealthy — no shortcuts Golden Visas do exist, but they're not a shortcut to permanent residency for the middle class. They're investment-driven and geared towards those who can inject substantial capital into a country's economy. 'These are not immigration pathways for the general population; they are exclusive to High Net-Worth Individuals and Ultra High Net-Worth Individuals seeking to expand their global footprint,' Andri Boiko, founder and CEO of international advisory firm Garant In told Business Standard. According to Boiko, entry into these programmes doesn't come cheap. Most countries require investments ranging from hundreds of thousands to several million US dollars or euros, depending on the route. 'Over the years, I've seen various nations fine-tune their offerings, tailoring them to appeal to affluent investors by offering a mix of security, mobility, and premium lifestyle benefits. But the entry point remains firmly out of reach for most,' he said. There's usually a long list of requirements too—proof of legal income, a clean legal record, and holding the investment for a minimum number of years. What other countries offer UAE: Requires real estate investments worth AED 2 million (approx. USD 545,000) for a 10-year visa Singapore: Demands a SGD 2.5 million investment under its Global Investor Programme Grenada: Offers citizenship via a $235,000 donation or $270,000 property investment Now, Trump is also planning to come up with a similar, yet much pricier 'Gold Card' for $5 million. 'These visas are about opening borders with capital,' said Boiko. 'For the select few who qualify, the world becomes significantly more accessible.' Why the ₹23 lakh rumour took off The idea of a Golden Visa for just ₹23 lakh caught fire for a reason. It felt reachable. 'The viral belief in the ₹23 lakh UAE Golden Visa scheme among Indians was fuelled by a mix of economic aspiration and a genuine desire for a better life abroad,' said Boiko. 'The UAE is always seen as a land of opportunity—offering tax-free income, modern infrastructure, and a cosmopolitan lifestyle.' Compared to the usual ₹4 crore needed for such programmes, ₹23 lakh didn't sound that far-fetched. And that's what made it so easy to believe. The story spread fast—consultancy firms hinted at it, and influencers jumped on board. Soon, it was all over YouTube, Facebook and family WhatsApp groups. Prashant Ajmera, an immigration lawyer and founder of Ajmera Law Group, didn't mince words. 'The so-called scheme was fake, generated by those wanting to scam Indians,' he told Business Standard. Ajmera pointed to a deeper problem — media channels picking up such news without checking the facts. 'I received several phone calls, and when I said the information wasn't true, people simply replied, 'But it's in the newspaper.' There's a deeply ingrained assumption that if something appears in print, it must be true,' he said. 'In my view, the media failed to verify this information properly, which is what led to all the confusion over the past four days.' He added that some firms in the global residency business release sensational reports just to stay in the spotlight and attract high-profile clients. 'These firms, who are often legal advisors in the residency and citizenship business, use this attention to grow their practice. And their clients? Often politicians, corrupt bureaucrats, and even criminals looking for safe havens abroad,' he said, though he did not name specific firms. Fake visa pitch preys on real hopes Boiko said the fake visa pitch preyed on real hopes. 'This misinformation exploits the aspirations of individuals seeking better opportunities abroad,' he said. He made it clear that Golden Visas are not something you can simply purchase. 'The Golden Visa is indeed a legitimate pathway for highly skilled professionals, investors, and other eligible categories, but it is not a commodity to be bought outright. Eligibility is determined by professional merit, contributions to the UAE economy, and a thorough vetting process—not by a simple fee payment.' He said the UAE's Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) has confirmed that no internal or external consultancy is authorised to process Golden Visa applications. Any offer that claims otherwise, he said, is fraudulent. How did the ₹23 lakh Golden Visa rumour start? It all began with a press release from Dubai-based firm Rayad Group, which claimed that Indians could secure a Golden Visa at a fraction of the usual cost. News agency PTI picked it up, and within hours, the story was everywhere. The offer sounded almost too good to be true, and it was. Soon, WhatsApp forwards, Facebook reels and X threads were flooded with posts marvelling at the deal. Some went as far as saying that for the price of a Mercedes-Benz E-Class in India, you could not only get the same car in Dubai but also bag a long-term UAE residency. However, after two days of #UAEGoldenVisa trending online, the UAE government broke its silence. It called the claims baseless and confirmed there is no such 'lifetime residency' visa. It also reminded the public that all Golden Visa applications must go through official government channels only. Rayad Group then withdrew its press release and issued an apology, saying its managing director, Rayad Kamal Ayub, had made incorrect statements.
Mint
10-07-2025
- Business
- Mint
As UAE rejects ‘Golden Visas for ₹23.3L' claim, expert reminds ‘importance of due diligence'
As the UAE dismissed claims that it is offering lifetime Golden Visas for some nationalities for around ₹ 23.30 lakh, an immigration expert said, 'This is a stark reminder of the importance of due diligence in immigration matters'. The UAE's Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) on Wednesday dismissed reports that claimed that lifetime 'golden visas' for some nationalities could be obtained for all categories from outside the UAE via consulting or commercial entities under simplified conditions. On Thursday, Dubai-based Rayad group 'apologised' for the 'public confusion' over the purported nomination-based resident initiative, which included references to a 'fixed AED 100,000 fee' and a so-called 'lifetime visa' arrangement. 'We apologise unreservedly for the public confusion caused by recent reports and commentary, and we take full responsibility for ensuring future communications are clear, accurate, and consistent with the UAE's stringent regulatory frameworks,' the Rayad Group said in a statement. "These statements did not accurately reflect our intent, our scope of services, or the limitations of our authority in relation to the UAE Golden Visa programme. To reiterate with full clarity: no guaranteed visa, fixed-price programme, or lifetime UAE residency product currently exists, and the Rayad Group does not offer, support, participate in, or endorse any such arrangement. 'Due to the confusion caused, the Rayad Group is discontinuing private advisory services for Golden Visas,' it said. 'The recent false news surrounding the UAE Golden Visa is a stark reminder of the importance of due diligence in immigration matters,' Andri Boiko, Founder &CEO, Garant In, an international advisory firm of Citizenship and Residence Permit. He further advised, 'Aspiring applicants must remain vigilant, verify all information through official sources, and avoid the temptation of shortcuts that are too good to be true.'
Mint
10-07-2025
- Business
- Mint
As UAE rejects ‘Golden Visas for ₹23.3L' claim, expert reminds ‘importance of due diligence'
As the UAE dismissed claims that it is offering lifetime Golden Visas for some nationalities for around ₹ 23.30 lakh, immigration expert says 'this is a stark reminder of the importance of due diligence in immigration matters'. The UAE's Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) on Wednesay dismissed reports that claimed that lifetime "golden visas" for some nationalities could be obtained for all categories from outside the UAE via consulting or commercial entities under simplified conditions. On Thursday, Dubai-based Rayad group has "apologised" for the "public confusion" over the purported nomination-based resident initiative, including references to a 'fixed AED 100,000 fee' and a so-called 'lifetime visa' arrangement. "We apologise unreservedly for the public confusion caused by recent reports and commentary, and we take full responsibility for ensuring future communications are clear, accurate, and consistent with the UAE's stringent regulatory frameworks," the Rayad Group said in a statement "These statements did not accurately reflect our intent, our scope of services, or the limitations of our authority in relation to the UAE Golden Visa programme. To reiterate with full clarity: no guaranteed visa, fixed-price programme, or lifetime UAE residency product currently exists, and the Rayad Group does not offer, support, participate, or endorse any such arrangement. "Due to the confusion caused, the Rayad Group is discontinuing private advisory services for Golden Visas," it said. 'The recent false news surrounding the UAE Golden Visa is a stark reminder of the importance of due diligence in immigration matters,' Andri Boiko, Founder &CEO, Garant In, an international advisory firm of Citizenship and Residence Permit. He further advised, 'Aspiring applicants must remain vigilant, verify all information through official sources, and avoid the temptation of shortcuts that are too good to be true.' The Golden Visa is indeed a legitimate pathway for highly skilled professionals, investors, and other eligible categories, but it is not a commodity to be bought outright. Eligibility is determined by professional merit, contributions to the UAE economy, and a thorough vetting process—not by a simple fee payment, he concluded.
