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Everything you need to know about the long-term residency programme
Words by Ankita Bhowmick in The Guides · Feb 24th, 2020
Offering five or ten years of residency, Gold Card Visa is the first type of visa in the UAE that came up with a long-term residency programme for expats. It also allows the visa holders to obtain long-term residency for their dependents that include their spouses and children and also father and mother, which are based on some specified conditions by the Federal Authority for Identity and Citizenship.
In order to retain this visa, the holder is required to comply with the terms and conditions during the renewal of the visas.
The Gold Card Visa's process was initiated on May 21, 2019, and has three categories as per decree No. 56 of 2018 regarding the regulation of residency permits for investors, entrepreneurs and special talents issued by the Council of Ministers.
Those investors, who have invested a minimum of AED 10 million qualify for a ten-year visa, whereas entrepreneurs and individuals with special talents are eligible for five-year residency.
The visa can be applied by professionals with entrepreneurial experience from around the world. In order to qualify for the visa, they will have to be able to substantiate their experience as an entrepreneur. They will also be required to have been a majority shareholder of a startup or a member of its senior leadership. The other prerequisites include willingness to relocate to the UAE and being able to conceive a business idea or a plan which can be brought to life in the UAE and establish a business in the country.
Applying for a Gold Card Visa is quite simple. If you think that you are eligible for the visa, then all you will need to do is visit the official website - https://business.goldenvisa.ae/
Upon filling the required information, uploading the necessary documents, and a two-minute video profile, you can submit the application. The application takes around 30 days to be reviewed by the specialised committees. Once the nomination is approved, it implies that you have qualified for the visa but it does not mean that you will get the visa.
Upon the approval of the nomination, you will have to complete the requirements of the Federal Authority for Identity and Citizenship. If you are not living in the UAE, the authorities will offer you a six-month visa, for you to come to the country and settle. During this period, you will be required to convert the temporary visa into a residency permit.
If you are living in the UAE, you will be offered a one-month visa. You will be required to convert the temporary visa into a rensidency permit within that one month.