Discover the New Golden Visa in Dubai: A Game-Changer for Indian Nationals!
Introduction to the New Golden Visa
The government of the United Arab Emirates has introduced a new Golden Visa option that relies on a nomination process, differing from the previous requirement of substantial investments in property or business ventures.
Previously, Indian nationals could secure Dubai's Golden Visa by investing a minimum of AED 2 million (approximately Rs 4.66 crore) in real estate or making significant business investments.
With the newly established nomination-based visa policy, Indians can now obtain a lifetime Golden Visa for a fee of AED 100,000 (around INR 23.30 lakh), as confirmed by beneficiaries involved in the process.
It is anticipated that over 5,000 Indians will apply for this new visa within the next three months.
India and Bangladesh have been selected for the initial phase of this visa program, with the consultancy firm Rayad Group appointed to oversee the testing of the nomination-based Golden Visa in India.
Rayad Kamal Ayub, the Managing Director of Rayad Group, emphasized that this presents a remarkable opportunity for Indians to acquire the UAE's Golden Visa.
When applicants submit their Golden Visa applications, a thorough background check will be conducted, which includes assessments for anti-money laundering, criminal records, and social media activity, according to Rayad Kamal.
This background evaluation will also determine how the applicant can contribute to the UAE's market and business sectors, including areas such as culture, finance, trade, science, startups, and professional services.
Following this assessment, Rayad Group will forward the application to the government, which will make the final decision regarding the nomination-based Golden Visa.
Individuals applying for the UAE Golden Visa under this new category can receive pre-approval from their home country without needing to travel to Dubai.
Applications can be submitted through One VASCO centers (a visa concierge service), Rayad Group's registered offices, their online portal, or a dedicated call center.
Once granted the Golden Visa, holders can bring family members to Dubai and are permitted to employ domestic staff. They can also engage in any business or professional activities within the UAE. Rayad Kamal noted that while the property-based Golden Visa is revoked upon the sale or division of property, the nomination-based visa remains valid indefinitely.
This initiative by the UAE government, along with India's selection as the first country for this visa, underscores the robust business, cultural, and geopolitical ties between India and the UAE, which have strengthened following the Comprehensive Economic Partnership Agreement (CEPA) that took effect in May 2022.
The nomination process for the Golden Visa is part of an agreement between the UAE and its CEPA partner countries. This pilot project has commenced with India and Bangladesh, with plans to expand to China and other CEPA nations in the future.
Rayad Group and VFS have been designated to evaluate applicants before forwarding their information to UAE authorities.