Here is how property investors can apply for UAE Golden Visa
The Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) of the UAE has detailed the eight steps for real estate investors to apply for the UAE Golden visa.
The Golden Visa allows the holders to stay in the country without a sponsor for 10 years. It also grants multiple benefits, like allowing one to be outside the country for more than six months and a decade-long renewal period. Real estate or property investors are one of the many eligible categories. The criteria for investors to apply include fulll ownership over the property worth at least Dh2 million, which is mortgaged only via a local bank.
The eight steps include:
1) Eligibility check: Submit applications to determine eligibility. The examination will include a series of questions from relevant authorities.
2) Wait for notification: Those who gets the nomination can begin the process to obtain residency. The ICP provides updates at each stage, ensuring a streamlined process.
3) Visa approval: Those who get the visa will be notified by the ICP and they can then move on to the next steps.
3) Approval: Applicants will be notified once the visa is approved, allowing them to proceed automatically to the next steps.
4) Cancellation of current visa: This step is applicable to people who currently hold a UAE residency visa. To proceed with the Golden Visa, they must cancel the existing one.
5) Changing the status: The applicant’s visa status will be updates if there are no pending fines on their files. If there are dues, a payment link wil be sent to the applicant to settle the fines before continuing. After settling the dues, the applicant receives a stamped visa copy for the medical test.
6) Medical check: Applicants have to undergo a a medical fitness test and obtain a two-year health insurance policy. Post clearance of the fitness test, ICP will automatically process the Emirates ID and residency visa. If this is not done automatically, the applicant must upload these documents manually.
7. Biometrics: Applicants will have to schedule fingerprinting at a designated ICP service centre via a provided link. This is conditional.
8) New Emirates ID: Once all procedures are completed, the new Emirates ID will be delivered to the applicant's registered address.
Middle East