Country programs for wealthy foreigners are called “Golden Visa”. Entrepreneurs who meet the requirements of the state are offered exclusive rights. In addition, fulfillment of the condition of residence in the country allows applying for citizenship.
The attractive side of UAE Golden Visa is the reduced cost. Thus, under the new rules, residents contribute 2 million dirhams instead of 5 million. This innovation only increases the demand for the offer, so a specialist of Immigrant Invest Vladlena Baranova is ready to share her expert opinion.
UAE Golden Visa: A Brief Overview
The UAE program is available to Indians who want to improve their quality of life. Under the terms of the proposal, wealthy investors get access to citizens’ opportunities before the passport is issued. Thus, foreigners enjoy discounts on purchasing real estate, health care services, etc.
A brief overview of the UAE Golden visa for Indian citizens program will help to assess the profitability of the offer:
- Applicants. Wealthy business people may add close relatives to the application. This rule refers only to the close circle.
- Duration. Program participants receive permission to reside in the country for up to 10 years. The possibility to extend residency status is provided.
- Criteria. Not only wealthy Indians but also those who have contributed significantly to culture, science, or religion can apply for the program.
Candidates are thoroughly vetted to confirm eligibility requirements.
Eligibility Criteria for Indians for the UAE Golden Visa
The principal applicant is a businessman who has reached the age of majority. In addition, he must be free of criminal records and diseases that are unsafe for other citizens. These conditions also apply to all added applicants, including children.
Eligible for citizenship are those who have fulfilled the requirements:
- cannot include a son over the age of 30, but this condition does not apply to daughters;
- can make a contribution to the country in the prescribed amount (from 2 million dirhams per person);
- is active in the categories specified by the government (scientists, musicians, imams).
UAE Golden visa for Indians is the preferred option, as you will not need to renounce your citizenship for 30 years. It is enough time to decide and settle in a new country.
UAE Golden Visa Investment Options for Indians
Applicants to the program choose their preferred method of investment. Thus, the country offers to support one of the following areas:
- Property. The main requirement is that the purchase is made without a mortgage. The recommended price is 2 million dirhams.
- Business. The investment amount does not change, but participants must provide a letter about the taxes for the last 2 years.
- Entrepreneurship. Businessmen who own a company with a turnover of funds of at least 1 million UAE dirhams per year can get resident status. In addition, the creator of an innovative project or a start-up with an idea value of 7 million dirhams has this right.
Separate categories are outstanding talents, best students, front-line soldiers, and scientists. Certain conditions for them differ from those listed above.
Application Process for Indians for the UAE Golden Visa
The processing of applications is done in stages. To obtain a Dubai Golden Visa for Indians, the applicant must pass a pre-verification check. The candidate must then:
- collect and prepare documents;
- get an entry visa for 6 months;
- invest in a preferred area;
- undergo a medical examination.
Submitting documents that confirm the necessary preparation will allow you to proceed to the last step of the process – thorough verification. After that, obtaining a Golden Visa at the consulate will be possible.
Living and Doing Business in the UAE
The idea of moving to the Emirates is good for several reasons. First, the program will allow you to obtain a second passport. However, even before then, foreigners enjoy exclusive conditions:
- Favorable tax environment. Fixed interest rate and sometimes tax exemption is attractive. Individuals do not pay income tax. The rent includes a flat tax.
- High standard of living. Health care, education, and infrastructure are developed at a high level, so the Dubai Golden Visa for Indian citizens program appeals.
- Safe residence by investment. The low crime rate is another reason to participate in the program.
The advantages of the UAE are visible even without detailed consideration. The country occupies high places in the ratings, which confirms this.
Conclusion
Moving to the Emirates is available thanks to an excellent program. Foreigners enjoy the benefits of being permanent residents of the country. It is necessary to consult a specialist to choose the best Golden Visa Programs. It is a guarantee of the right choice.
