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Time of India
09-07-2025
- Business
- Time of India
UAE Golden Visa confusion: Has a Rs 23 lakh special visa programme really been launched for Indians? Here's what we know
The UAE golden visa programme includes options through property investments and business establishment. (AI image) Has the UAE launched a new golden visa pilot programme? Reports about UAE launching a pilot programme for a new golden visa have created excitement on social media. However, visa consultants and applicants are confused due to lack of official announcements, leading to doubt and frustration. The possibility of obtaining a permanent visa to relocate to Dubai, a highly sought-after destination, for the cost equivalent to a mid-range SUV, appeared unrealistic. Indeed, this might be the case, according to an ET report. UAE Golden Visa : Has a Rs 23 Lakh Visa Been Launched? A prominent Dubai-based golden visa consultant confirms that UAE officials have not announced any modifications to Golden Visa regulations permitting Indian nationals to obtain a lifetime Golden Visa for AED 100,000. While Indian media outlets have extensively covered the news about UAE's new golden visa pilot, there has been no coverage in UAE media outlets or the Emirates News Agency, which typically publishes all official announcements. The story has gained significant traction on Indian social media platforms, as affluent Indian citizens have shown keen interest in investment visas and residency programmes in recent years. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like An engineer reveals: One simple trick to get internet without a subscription Techno Mag Learn More Undo Nomination-based visa schemes, despite being contentious, have become a preferred option for wealthy families worldwide seeking relocation opportunities for various reasons including taxation, quality of life, and educational prospects. Speaking to ET from Dubai via telephone, Iqbal Marconi, former chief executive of ECH Group (recognised by Khaleej Times as the region's principal golden visa facilitator), mentioned receiving numerous enquiries from India following the circulation of this information. "I checked with the authorities here, and they say they have no such information. So, the news is likely to be untrue. The only new update they have is that crypto investors won't be considered for the Golden Visa scheme.' 'I checked with the GDRFA (General Directorate of Residency and Foreigners Affairs Dubai) also, they too said they don't have any information on this. I also checked with a couple of officials here who are in the same line of work, they also said they don't have any information in this regard,' he added. UAE Golden Visa Confusion The speculation originated from a PTI wire service report, which was extensively shared, suggesting UAE was testing a new category of golden visa specifically for India and Bangladesh. The report indicated a substantial reduction in financial requirements from approximately Rs 4 crore investment to Rs 23 lakh, stating this nomination-based visa was being trialled exclusively for Indian and Bangladeshi citizens. The article references Rayad Kamal Ayub, MD of Rayad group, a consultancy that recently introduced an advisory programme for UAE golden visa in collaboration with VFS Global, serving India and Bangladesh. However, the nomination-based pathway, which acknowledges an individual's economic contribution potential to the UAE without requiring financial investment, has been available since the golden visa programme's inception in 2019, with approvals solely determined by UAE authorities. "Nomination-based UAE golden visa with no investment requirement is not new at all. Many of us working in this space have helped our clients get such visas and continue to do so. There has been no intimation from any official sources that any policy change has happened with regard to the UAE golden visa," Rajneesh Pathak of Mumbai-based residency and citizenship consultant Golden North was quoted as saying by the financial daily. UAE Golden Visa Route For Indians The UAE golden visa programme includes options through property investments and business establishment that generate employment. This investment route, requiring AED 2 million (equivalent to Rs 4.66 crore), enabled Dubai property developers to promote premium properties as "Golden Visa eligible". Any relaxation in visa regulations could influence this sector's performance. Indians constitute approximately 7-8% of annual Dubai property transactions, primarily driven by Golden Visa aspirations, which will experience changes. The property market dynamics, including supply and pricing strategies, will undergo adjustments, according to Ritesh Mehta, senior director, residential services, JLL India. The UAE government has not officially commented, though relevant authorities have confirmed the Golden Visa programme remains under government regulation. A senior official, speaking anonymously, emphasised that UAE visas are not available for purchase. The government may grant Golden Visas based on various criteria, including AED 2 million real estate investments, business ownership, and notable achievements in science, medicine, arts, culture, media, and sports. An official communication clarified that all applications, including those from authorised agents, undergo thorough government scrutiny, with UAE authorities retaining exclusive decision-making authority. The Vision Dubai 2033 strategy aims to double the UAE economy, acknowledging population growth as essential for achieving this objective. The Gulf nation may consider expanding its visa policies for high-income individuals from various countries in the future. However, there is limited evidence suggesting such changes have already been implemented. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Economic Times
09-07-2025
- Business
- Economic Times
UAE's ‘Rs 23 lakh golden visa' reports trigger buzz in India, but consultants say nothing official
Agencies Representative image While reports of the launch of a pilot programme for a new kind of golden visa by the UAE has set social media abuzz with excitement, visa aspirants and consultants are groping in the dark in the absence of any official communication, causing frustration and scepticism. While wide-ranging media reports in India have said UAE is piloting a new kind of golden visa, there have been no reports in the UAE media, or in the Emirates News Agency, which disseminates all official notifications. Unsurprisingly, the story has gone viral on Indian social media. Investment visas and residency programmes have been lapped up with great zeal by well-heeled Indian citizens in recent years. Nomination-based route for visa 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 might well be. Atop golden visa consultant based in Dubai says 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. Iqbal Marconi, ex-CEO of ECH Group (according to Khaleej Times the largest golden visa facilitator in the region), told ET over phone from Dubai that he has been getting calls from India ever since this news came out. 'I checked with the authorities here, and they say they have no such information. So, the news is likely to be untrue. The only new update they have is that crypto investors won't be considered for the Golden Visa scheme. I checked with the GDRFA (General Directorate of Residency and Foreigners Affairs Dubai) also, they too said they don't have any information on this. I also checked with a couple of officials here who are in the same line of work, they also said they don't have any information in this regard.' 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. 'Nomination-based UAE golden visa with no investment requirement is not new at all. Many of us working in this space have helped our clients get such visas and continue to do so. There has been no intimation from any official sources that any policy change has happened with regard to the UAE golden visa,' said Rajneesh Pathak of Mumbai-based residency and citizenship consultant Golden North. The UAE golden visa also offered a path through real estate investments as well as job creation, by investing in businesses. This route, which required an investment of AED 2 million, or more than Rs 4.66 crore, helped Dubai developers market high-value properties as 'Golden Visa eligible'. If the visa regime is liberalised, the sector could be impacted. 'Around 7-8% of Dubai properties sold every year involve Indians aiming for Golden Visa and that segment will see an impact. The developers' supply and pricing strategies will see a change,' said Ritesh Mehta, senior director, residential services, JLL India. While the UAE has not issued a statement on the matter, relevant UAE authorities have clarified that the Golden Visa initiative remains a government-regulated programme. The UAE visa 'is not for sale,' a highly placed official said, speaking on the condition of anonymity. 'Golden Visas may be granted by the UAE government on several grounds, including but not limited to real estate investment to the tune of AED 2 million, business ownership, and distinguished contributions in fields such as science, medicine, the arts, culture, media, and sport. All nominations undergo a government-led vetting process, even those coming from authorised agents, with the final decision resting solely with UAE authorities,' an official message stated. The Vision Dubai 2033 document envisages doubling of the UAE economy and recognises that increasing the population of the country would be a key necessity in that journey. Tactically therefore, the gulf nation might eventually liberalise its visa scheme for upper income segments from other nations. But on whether it has already done so, there are few indications. (Join our ETNRI WhatsApp channel for all the latest updates) Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Newton vs. industry: Inside new norms that want your car to be more fuel-efficient India's gas dream runs on old pipes. Can a European fix unclog the future? Is gold always the best bet? Think again Can this cola maker get back bubble valuation pricked by Ambani? 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