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Arabian Post
2 hours ago
- Business
- Arabian Post
UAE Clarifies No Golden Visa for Crypto Investors
UAE authorities have categorically dismissed claims that cryptocurrency investors can secure a 10‑year golden residency visa, stating that such privileges are reserved for specific sectors such as real-estate investors, entrepreneurs, top-tier talents, scientists, specialists, leading students and graduates, humanitarian pioneers and frontline workers. In a joint statement, the Federal Authority for Identity, Citizenship, Customs and Port Security, the Securities and Commodities Authority and the Virtual Assets Regulatory Authority made clear that no visa pathway exists based solely on digital asset investment. The clarification, issued in response to social media promotions tied to TON coin staking, noted that licensed companies dealing in virtual assets must follow standard visa procedures set by Dubai authorities—contradicting any assertion of automatic long-term residency for such investors. The declaration emphasised that golden residencies, formally known as 'golden visas,' are awarded selectively. Eligible recipients include individuals contributing significantly through real-estate acquisition, entrepreneurship, exceptional professional or academic achievements, humanitarian efforts, scientific innovation and frontline services. Digital asset holders, including those with TON coin, are not part of this framework. ADVERTISEMENT VARA underscored that any licensed firm engaged in virtual assets must adhere strictly to visa regulations approved by Dubai's government. The authority explicitly stated that TON is not among the licensed virtual asset service providers regulated by VARA—which serves as a reminder that third-party programme claims cannot confer regulatory endorsement or visa rights. Market reactions were swift. TON's market value dropped roughly 6% after the regulators' denial, reversing an earlier 10% rally sparked by reports suggesting that staking over $100,000 of the cryptocurrency for three years would qualify investors for golden residency. The dip reflects investor recalibration, as participants digest the official position. Crypto-focused platforms including Cointelegraph and CryptoBriefing reported that the golden visa narrative around TON did not originate from UAE government entities, but from promotional efforts tied to TON itself or affiliates. Such promotions framed virtual-asset investments as viable residency routes, a stance regulators assert is misleading. Historically, the UAE has granted golden visas to boost innovation and long-term commitment within its economic ecosystem. Introduced in 2019, the visa allows extended residency ranging from five to ten years for designated groups, including investors, researchers, medical professionals, outstanding students, frontline responders and humanitarian workers. The UAE's focus has been on attracting tangible economic and social capital—not speculative virtual-asset portfolios. The political economy of the golden visa scheme underscores the government's desire to diversify its talent pool while retaining high-calibre individuals. Notably, real-estate investors must typically commit AED 2 million or more, and entrepreneurs require projects valued at least AED 500,000, alongside approved incubator backing. There is no parallel threshold for cryptocurrency holdings. ADVERTISEMENT VARA's clarification additionally served as a broader caution to the public, urging consumers to engage only with fully licensed and regulated entities in the virtual-asset space. This aligns with the authority's ongoing efforts to mitigate risk, prevent fraud, and ensure compliance within the rapidly evolving crypto sector. Legal analysts note that agencies like ICP, SCA and VARA carry statutory authority over immigration, securities and virtual asset regulation, respectively—a strong indicator that their joint statement holds legal weight. Any company or platform claiming otherwise could face regulatory investigation for misleading representations. Industry experts praised the clarity of the communication, saying it helps dispel misconceptions among investors attracted by sensational claims. 'Regulation must keep pace with innovation,' commented one Dubai-based compliance specialist. 'But investors also bear responsibility to verify claims, particularly when residency and investment are involved.' Within the wider crypto ecosystem, this development is neither isolated nor unexpected. Regulators across jurisdictions have increasingly emphasised that digital-asset holdings alone rarely guarantee immigration benefits. The UAE's decisive response may serve as a model for governments balancing openness to innovation with prudence in immigration policy. Moving forward, observers will watch closely whether the UAE institutes any formal framework for crypto-linked residency benefits. VARA and SCA have previously launched licensing regimes for exchanges and service providers, hinting at a broader regulatory ecosystem under development. However, until there is explicit policy inclusion, golden visa eligibility remains restricted to well-defined categories. Legal scholars suggest that should UAE authorities wish to incorporate virtual-asset investment into residency policy, formal amendments would need to be tabled via corporate regulations and immigration law. Meanwhile, the current guidelines offer clear instruction: digital asset investment, regardless of size, is not sufficient to obtain a golden residency in the UAE.
Time Out Abu Dhabi
5 days ago
- Time Out Abu Dhabi
This new app will make airport travel in Abu Dhabi a lot faster
If you've ever wished your airport experience could be quicker and more seamless, the UAE has heard you. A new digital innovation called UAE Fast Track is changing the way travellers enter Abu Dhabi, offering a dramatically faster immigration process powered entirely by your smartphone. Developed by the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), UAE Fast Track lets you complete all the usual arrival procedures – like passport scanning, fingerprinting and facial recognition – before you even leave home. Once registered, you can breeze through immigration in as little as ten seconds without ever pulling out your passport at the gate. Say goodbye to queues as you cruise through, courtesy the UAE Fast Track app, a faster, smoother airport experience enabled at Zayed International. #ZayedInternationalAirport #AUH — Zayed International Airport (@AUH) July 1, 2025 The app, now available on the Apple App Store and Google Play, is designed to be intuitive and user-friendly. Travellers simply download it, register by scanning their passport, capture their facial data using the front camera and complete fingerprint scans using the phone's rear camera. You'll also be prompted to enter your arrival date, departure details and port of entry. The goal is to eliminate queues and paperwork, all while maintaining a high level of security and data accuracy. Once everything is submitted and verified, travellers arriving at Zayed International Airport can skip the manual checks. The airport's smart immigration lanes will automatically recognise pre-registered passengers, offering a swift and touch-free entry experience. The new app isn't just about speed. It's about convenience and precision. By removing the need for manual input at border control, the UAE Fast Track system minimises human error and enhances the overall airport journey for residents and visitors alike. Officials are urging users to enter their information accurately, as incorrect or false details could lead to legal complications. With security built into every step, UAE Fast Track aims to make high-volume international arrivals safer, smarter and significantly more efficient. If you're flying this summer, it's worth getting a head start. UAE Fast Track is now live and ready to simplify your next arrival. Need some travel inspo? Etihad Airways is giving away cute presents on their summer flights A flight and a gift? Yes please 18 countries offering visa-on-arrival to UAE residents Here's where to go UAE citizens now get visa-on-arrival for India: a game-changer for travellers That quick trip to India just got even easier
CairoScene
19-06-2025
- Business
- CairoScene
Iranian Nationals in UAE Exempted From Visa Overstay Fines
The ICP-led initiative waives fines for Iranians in the UAE amidst travel disruptions caused by regional tensions, suspended flights, and closed airspace. Jun 18, 2025 The UAE has announced the waiver of visa overstay fines for all Iranian nationals currently in the country—covering both residents and visitors—regardless of visa type. The Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) confirmed the exemption applies as a response to the "exceptional circumstances" arising from regional disruptions, including flight suspensions and airspace closures. Issued under the directives of President Sheikh Mohammed bin Zayed Al Nahyan, the measure aims to alleviate the financial burden on Iranians unable to leave the UAE due to these travel challenges. Eligible individuals are required to register through the ICP Smart Services platform or visit any Customer Happiness Centre to claim the waiver. The exemption will remain in effect until December 31st, 2025.
Gulf Insider
18-06-2025
- Business
- Gulf Insider
UAE Waives Visa Fines for Iranians
The UAE has announced a waiver on visa fines for Iranians currently in the country. The Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) announced the exemption of Iranian citizens currently in the UAE from all overstay fines. This applies to both residents and visitors, regardless of their visa type. The measure is a direct response to the exceptional circumstances in the region, aiming to alleviate the burden on individuals who have been unable to return to Iran due to airspace closures and flight suspensions. While reaffirming its dedication to humanitarian considerations and its commitment to providing comprehensive support to all residents and visitors in the United Arab Emirates, ICP calls upon those eligible for this exemption to register via the ICP Smart Services Platform or visit any customer happiness centre in the country. Also read: UAE Ranked 5th in Global Competitiveness Ranking; Cabinet Reviews $1.4tn Trade Success
What's On
18-06-2025
- What's On
UAE activates emergency airport response amid regional airspace closures
If you're heading to the airport or waiting on someone flying in, here's the latest travel update you need. The UAE has activated an emergency response plan across its major airports, following temporary suspensions and disruptions to several flight routes due to regional airspace closures. Authorities have moved quickly to keep things running smoothly. The Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) has rolled out a continuity plan to maintain passenger movement and airport operations with minimal delays and disruptions. What airports are affected? Flight cancellations have been reported at Dubai International Airport (DXB), Dubai World Central (DWC), Zayed International Airport Abu Dhabi, and Sharjah International Airport. However, thanks to fast action, services remain operational and the impact has been reduced. What's being done for passengers? Support teams are on the ground offering direct assistance, helping travelers reschedule flights and get updated info. Passengers are being offered temporary accommodation and logistical support, with clear communication provided at every step. Need to travel soon? Expect enhanced support at the airport and a smoother check-in process, but still allow extra time and stay in close contact with your airline. If you're affected by cancellations or delays, the ICP and UAE-based airlines are coordinating closely to get you back on track. Travellers have been praised for their patience and understanding during what officials described as 'exceptional regional circumstances.' Safety remains the top priority, and all necessary precautions are being taken to protect passengers and maintain service quality. Travel tips If you're flying soon, check your flight status, head to the airport a little earlier than usual, and follow the guidance from airport and airline staff. And as always, keep calm. We'll keep you updated on as the situation develops. Images: Archive > Sign up for FREE to get exclusive updates that you are interested in
