Permanent residency in UAE: In the new Golden Visa route, you don't need to invest in property, can take family, says report

UAE Golden Visa: Indians in most Gulf Arab nations are unable to stay there permanently because of various regulations, but this could be changing for the United Arab Emirates, if a report in Indian media proves to be true. The United Arab Emirates, one of the main destinations of Indian expatriates, has introduced a new nomination-based Golden Visa that will offer lifetime permanent residency, according to a report in the Times of India newspaper.

No need for property of business investment

In UAE, Indians had to invest in either property or business in order to be eligible for permanent residency. The stipulated value of these investments was AED 2 million, or around 4.66 crore rupees. As per the ToI report, now Indians can pay a one-time fee of AED 1,00,000, or around 2.3 million rupees, and be eligible for permanent residency.

What is the new golden visa scheme for UAE permanent residency?

The Golden Visa of UAE is based on nominations, and is subject to fulfilling certain requirements. The main criteria for nomination for permanent residency under the new system include the individual's professional background, contributions to society, or potential impact in UAE's culture, trade, science, startups, or finance, said the report.

The UAE Golden Visa scheme is in pilot stage for India

The UAE Golden Visa scheme has been launched in India on a pilot basis, according to the report, citing Rayad Group, which was selected to manage the process in the country. Rayad Group is working with VFS and One Vasco centres for the programme. More than 5,000 Indians are expected to apply in three months, the report said citing Rayad Group. The pilot phase has also started in Bangladesh.

How to apply for UAE Golden Visa Scheme?

Applications can be uploaded through the online portal and call centre being managed by Rayad Group and VFS. "This is a golden opportunity for Indians," the report quoted Rayad Kamal Ayub, Managing Director of Rayad Group, as saying.

What is the vetting process of UAE Golden Visa Scheme?

The final decision on the Golden Visa nominations will be made by the UAE government. It will be done after a thorough vetting process. This includes checks on money laundering activities, and verification on criminal background as well as screening of social media activity of the applicants.

Benefits of UAE golden visa

Once approved, the UAE Golden Visa holders can bring their families to the UAE and employ staff in the country. They can engage in business or professional activities uninterrupted. The Golden Visa is permanent, unlike earlier property-based visas, said the report.

Another proof of strong India-UAE relations

UAE, particularly Dubai and Abu Dhabi, is one of the favourite destinations of Indian professionals and businesspeople besides blue-colalr workers. The Golden Visa scheme is yet another example of the strong ties of India and UAE. The two countries reached a Comprehensive Economic Partnership Agreement (CEPA) in 2022. The UAE plans to expand the Golden Visa programme to other CEA parners like China in future, according to the report.