UAE nomination-based Golden Visa scheme
Kartavya Desk Staff
Source: TOI
Context: The UAE has introduced a new nomination-based Golden Visa scheme for Indian and Bangladeshi nationals, offering lifetime residency without any property or business investment.
About UAE nomination-based Golden Visa scheme:
• What is the UAE Golden Visa? The UAE Golden Visa is a long-term residency visa that enables foreign nationals to live, work, study, or run a business in the UAE without the need for local sponsorship.
• The UAE Golden Visa is a long-term residency visa that enables foreign nationals to live, work, study, or run a business in the UAE without the need for local sponsorship.
• Objectives: Attract global talent in science, culture, trade, and innovation
• Attract global talent in science, culture, trade, and innovation
• Boost UAE’s position as a global hub for skilled professionals and entrepreneurs Strengthen strategic ties with countries like India under CEPA Diversify UAE’s economy beyond oil by encouraging knowledge-driven growth
• Boost UAE’s position as a global hub for skilled professionals and entrepreneurs
• Strengthen strategic ties with countries like India under CEPA
• Diversify UAE’s economy beyond oil by encouraging knowledge-driven growth
• Key Features of the Golden Visa:
• Lifetime Residency: No renewal or expiration upon asset sale One-time Fee: AED 1,00,000 (Approx. ₹23.3 lakh) No Investment Needed: No property or business investment required Sponsor Family and Staff: Family members of any age + unlimited domestic staff No Sponsor Requirement: Independent of local UAE sponsorship Uninterrupted Residency: Can live outside UAE >6 months without losing visa Multiple-Entry Starter Visa: 6-month visa for entry to complete formalities ‘One Touch’ Service: Streamlined portal for all documentation and renewals
• Lifetime Residency: No renewal or expiration upon asset sale
• One-time Fee: AED 1,00,000 (Approx. ₹23.3 lakh)
• No Investment Needed: No property or business investment required
• Sponsor Family and Staff: Family members of any age + unlimited domestic staff
• No Sponsor Requirement: Independent of local UAE sponsorship
• Uninterrupted Residency: Can live outside UAE >6 months without losing visa
• Multiple-Entry Starter Visa: 6-month visa for entry to complete formalities
• ‘One Touch’ Service: Streamlined portal for all documentation and renewals
• What’s New for Indians? Under the new nomination-based system:
• Under the new nomination-based system:
• Indians can now qualify without property or business investment Selection based on: Professional background Social contributions Potential in science, culture, startups, trade, or finance Pilot phase applies to India and Bangladesh.
• Indians can now qualify without property or business investment
• Selection based on: Professional background Social contributions Potential in science, culture, startups, trade, or finance
• Professional background
• Social contributions
• Potential in science, culture, startups, trade, or finance
• Pilot phase applies to India and Bangladesh.
• Significance for India-UAE Relations:
• Deepens India-UAE people-to-people ties, aiding skilled diaspora. Complements India-UAE CEPA (2022) with broader mobility and talent exchange. Helps Indian professionals access UAE markets more easily.
• Deepens India-UAE people-to-people ties, aiding skilled diaspora.
• Complements India-UAE CEPA (2022) with broader mobility and talent exchange.
• Helps Indian professionals access UAE markets more easily.