The Golden Visa program launched by the United Arab Emirates has become a popular option for expatriates who wish to stay in the country for a long duration. With residency for up to 10 years, this visa offers benefits like stability and security to foreigners living in the UAE. However, there is one key aspect they need to consider while applying for the Golden Visa – the salary requirement, which is expected to change in 2024. Hence, those looking to qualify for this prestigious status need to be well aware of the UAE golden visa salary requirement.

Golden Visa in the UAE: Brief Overview

The Golden Visa is a long-term residency permit issued to foreign individuals in the UAE who fulfill specific criteria. Along with an extended stay, this prestigious visa offers several other benefits such as multiple entry, family sponsorship, access to healthcare and education services, and many others. This scheme is launched with the intention to attract skilled professionals, investors, entrepreneurs, and exceptionally talented individuals to the UAE.

Benefits of UAE Golden Visa

The holder of a UAE Golden Visa can avail the following advantages:-

Long-term residency – The Golden Visa allows its holders to stay in the UAE for up to 10 years. Not only is the visa renewable, but it also helps them establish a solid base in the country.

Sponsor-free residency – Earlier, gaining long-term residency in the UAE without employment was complicated. However, the introduction of the Golden Visa program has changed that scenario. Foreign individuals, especially investors, entrepreneurs, and executive directors can now attain an extended hold within the country without having to rely on continued employment or local partnership.

Family Sponsorship – The Golden Visa makes it easier for its holders to bring their family members to the UAE. They can sponsor their spouses, children, and parents in some cases, without having to endure lengthy and costly visa applications.

Eligibility Criteria

The eligibility criteria to apply for the UAE Golden Visa differ on the basis of the specific category the applicants fall into. However, some general requirements include:-

• Employment – Individuals employed in healthcare, education, technology, or research need to meet the defined UAE golden visa salary requirement to be eligible for application.
• Investment – Investors need to invest a specified amount in real estate, businesses, or government bonds to qualify for this status.
• Entrepreneurship – Entrepreneurs need to establish a new company in the UAE with a minimum capital investment to be eligible for this visa.
• Talent – Individuals who are exceptionally talented in fields of arts, culture, sports, or science can apply based on their respective achievements.
• Family – The primary applicant of the Golden Visa can extend residency to their family members.

Updated UAE Golden Visa salary requirement

The Dubai golden visa salary requirements have significantly changed in the year 2024. The new rule focuses solely on the basic salary of the applicant. Previously, the total compensation package, including allowances was taken into consideration.

As per the new rule, professionals applying for the 10-year Golden Visa must have a basic monthly salary of AED 30,000, excluding any additional allowances such as housing, transportation, or other benefits. This simply means the basic salary of the individual must not fall short of the specified amount, even if the total compensation package exceeds AED 30,000.

The reformed UAE golden visa salary requirement primarily affects skilled professionals who are in managerial roles or specialized fields. This clearly depicts the UAE’s intent to attract remarkably talented individuals who can contribute significantly to the economic and social development of the country.

On the other hand, public investors are required to present a letter from the Federal Tax Authority (FTA) confirming an annual payment of taxes of at least AED 250,000. Similarly, an entrepreneur seeking a Golden Visa in the UAE must ensure that their project is innovative, legally registered, and contributes significantly to the nation’s economy. Moreover, the value of the project must be at least AED 500,000.

The Golden Visa requirements for investors vary depending on the specific investment option. For instance, a minimum of AED 2 million for real estate investments, higher amounts for other investment alternatives, etc. Foreign individuals who are outstanding in fields such as arts, culture, sports, or sciences must possess certain achievements to qualify for this permit. Nevertheless, they are not subject to any UAE golden visa salary requirement.

Additional requirements:-

• Public investors must hold a valid commercial or industrial license and submit proof of investment of at least AED 2 million.
• Real estate investors must invest in property with a loan sanctioned by an approved local bank.
• Entrepreneurs who want to establish their proposed activity in the UAE must get approval from a certified business incubator.
• Executive directors must hold a bachelor’s degree from an accredited university, a valid work contract, and work experience of at least five years in the same position.

Documents required for the Golden Visa application:-

The documentation requirement for the UAE Golden Visa varies depending on your eligibility category. For example, employee, investor, entrepreneur, etc. However, there are some general requisites, such as  –

• A Passport valid for at least six months
• Passport-sized photographs clicked recently
• A medical certificate confirming that the applicant is medically fit
• No Objection Certificate (NOC)
• Address proof
• Investment documents such as property deeds, bank statements, and investment certificates (for investors)
• Documents of Company registration (for business owners)

Procedure to apply for UAE Golden Visa

Once you have arranged for the UAE golden visa salary requirement, follow the below steps to obtain your visa –

• Determine the eligibility – Check the specific category you fall into (employee, investor, entrepreneur, talent) and accordingly assess your eligibility.
• Prepare the necessary documents – Gather all the documents stated earlier. There might be some additional requirements based on your visa category.
• Choose a channel for the application – There are two options to apply for the Golden Visa – Apply online through the official portal of the UAE government or visit a designated visa center in the UAE. After deciding on the channel you want to use, submit your visa application along with the requested documents and visa fees.
• Enroll your biometrics – The authorities would require you to enroll your biometric details for which you need to provide your fingerprints and other biometric information.
• Wait for the confirmation – Upon submission, wait for the processing of your application. If approved, the authorities will issue the Golden Visa. If rejected, you will be notified along with the reason for rejection.

Take your next step to the UAE with Shuraa

Hence, the Golden Visa is a wonderful and valuable opportunity for individuals and families looking for long-term residency and other benefits in the United Arab Emirates. However, the government recently brought some amendments to the Dubai golden visa salary requirements. Therefore, individuals need to carefully consider their options and meet the necessary criteria to take advantage of the benefits of the UAE Golden Visa.

Shuraa Business Setup will be your trusted companion throughout your journey to obtain a Golden Visa in the UAE. They have a team of experienced visa experts who will provide comprehensive guidance on company formation and visa assistance and make sure that you meet all the eligibility conditions of the authorities. On the whole, you can seamlessly navigate through the process and enjoy the benefits of working and living in the UAE.

Get in touch with Shuraa Advisors today!