The world came to a standstill last year with the global spread of Coronavirus. Countries had to go under lockdowns, people were forced to stay at home and the overall way of life was suddenly disrupted. Given the unprecedented nature of the pandemic, governments across the globe were and some still are struggling to balance between controlling the virus and ensuring the smooth flow of economics. It was a real litmus test of governance under crisis.

The United Arab Emirates struggled with the same issues and came out victorious. Various departments of the UAE government worked in perfect harmony to flatten the curve of new infections while avoiding lockdowns. It was one of the first countries to open public places, allow tourists, and get life back to normal. The country has also run one of the most successful vaccination drives. Not only are the majority of the resident vaccinated free of cost, now the government has started vaccinating tourists.

The government’s response to the pandemic coupled with the UAE’s well-renowned lifestyle has turned it into the perfect oasis for the riches to call home. People from across the globe now want to move to the UAE for good.

How does one go about it? How to attain residency in the UAE?

In response to the high demand, the government has come up with several residency visa programs based on investment in Real Estate & Enterprise.

5 Year Residency Visa:

On the basis of Real Estate:

To qualify for this visa, you need to own Real Estate of more than AED 5 million in the UAE. Following are the conditions that dictate the qualification:

• The value of the property should be more than AED 5 million
• Property should be fully paid up without any loan/mortgage
• Property should be retained for more than 3 years

On the basis of Enterprise:

Entrepreneurs with existing projects in the country with a capital investment of more than AED 500,000 or with an approval of an accredited business incubator in the country.

On the basis of Academic Merit:

Students with extraordinary merit can also qualify for the 5 Year visa.

• School: A minimum score of 95% is required for school students
• University: Distinction GPA of more than 3.75 is required upon graduation

Family members of individuals who qualify for this visa under any category can also avail long-term residency.

10 Year Residency Visa (Golden Visa):

Golden Visa or the 10-Year Residency Visa is the highest form of residency that one can avail in the UAE. Qualification can either be by investment or by special talent:

By Investment:

Any individual that has invested an amount of no less than AED 10 million in the UAE can qualify for this visa. The investment can be in the following forms:

• Investment of AED 10 million in a public fund inside UAE
• Establish a new company with a minimum capital of AED 10 million
• Share capital of AED 10 million or more in a partnership enterprise
• A combined investment of AED 10 million in all of the above-mentioned instruments provided that non-real estate investments add up to at least 60% of the total investment

By Specialized Talents:

Individuals with specialized talents in the fields of science, research, art, culture, etc. qualify for an honorary Golden visa in the UAE.

UAE Retirement Visa:

The government has also introduced a long-term visa for individuals who want to spend their retirement in the UAE. To qualify for the Retirement visa, individuals 55 years or older have to fulfill any one of the following requirements:

• Invest in a real estate well worth over AED 2 million

or

• Have financial savings of no less than AED 1 million

or

• Have monthly earnings of no less than AED 20,000

To know more about investments and residency in the UAE, feel free to reach us at info@inspire.propeties or call on +971522607035.