collaborative post | The United Arab Emirates (UAE) has, for the longest time, been the top choice for individuals looking for fresh prospects and high living standards. Recently, the UAE government has launched a very important initiative called the Golden Visa, which has opened doors for foreigners seeking to settle in the country. The program has garnered great interest from Indians who are prepared to relocate and take advantage of this golden opportunity in the UAE.
Both the UAE visit visa program and the Golden Visa are initiatives by the UAE government to attract foreign investors, business owners, and highly skilled experts.
The programs offer long-term residency visas to qualified individuals, providing them with a plethora of benefits and opportunities to prosper in the UAE. There are several visa categories, but the investor visa is the most enticing visa for Indians who want to explore possible opportunities.
The migration patterns in the UAE cities have significantly changed since the corona pandemic. Individuals from around 200 countries have moved into the United Arab Emirates, and the numbers are projected to rise in the following years.
The UAE has also made numerous changes to the United Arab Emirates immigration policy, which went into effect on October 3 last year to become the global center for immigration.
The Indian population in the UAE cities has increased substantially since the Corona pandemic. As of now, Indians constitute 38% of the United Arab Emirates population, with over 3.8 million people.
The major factors for increased Indian immigration to the UAE include government policies, good political and cultural relations, proximity to the home country, high income, and returns against investment.
The newly launched Golden Visa by the local authority played a key role in overtaking other countries to pull in talent. With the new talents, UAE is changing its image from just oil and luxury to a center of innovation and technology, start-ups, sustainability, and the hub for tolerance and coexistence.
The Popularity of the Golden Visa among Indians
The Golden Visa presents an exceptional opportunity for Indian nationals to explore the UAE’s thriving business landscape and make meaningful investments.
Indians are well known to be entrepreneurship-smart, and the UAE’s vibrant economy and business-friendly environment present them with an ideal platform to blossom. The Investor visa came in handy for Indian investors as they can now establish businesses, invest in real estate and contribute to the growth of several sectors in the UAE.
Individuals eligible for the Golden Visa include investors, entrepreneurs, humanitarian pioneers, frontline heroes, and outstanding students and graduates.
The Golden Visa is valid for ten years, previously five years. The visa can also be used as an entry visa to the UAE and can be renewed when it expires. The visa can be used to sponsor spouses and children irrespective of their age and also sponsor unlimited support services.
Unlike in other Gulf countries, you do not need the backing of a sponsor or employer to stay in the UAE if you have a Golden visa. There is no restriction of the maximum amount of time you spend outside the UAE and yet maintain your Golden residence.
In the past, visa holders who traveled outside the UAE were required to return to the country every six months. If the principal holder of the UAE Golden Visa dies, the family members are permitted to stay in the UAE until the visa expires.
Under the new laws, entrepreneurs and investors are eligible for a 10-year residence visa when they invest in a start-up. Influential researchers and scientists with high achievements in their specific fields can also get the Golden Visa.
Easy Process to Get a Visa
The application of the Golden Visa is developed to be straightforward and efficient. The UAE government has taken the initiative to make the application process simpler by making it accessible and streamlined for all applicants.
Individuals who qualify for the visa can apply through designated government portals or authorized service centers without hassle.
This efficient application process signifies the UAE’s government’s devotion to attracting global talent and fostering a favorable environment for economic growth and development.
Real Estate Market Boom for Investors
The declining prices of real estate following the Covid-19 pandemic have attracted a variety of entrepreneurs and experts. Dubai is still a buyer’s market due to the affordability of housing for the past few years.
With only an investment of AED 2 million, investors can get a Golden visa and venture into the UAE real estate business.
The Golden Visa route has raised the demand for luxury homes and other real estate in the country and turned it into a second home for Indians. After the revision of the Golden Visa program, the desire for real estate in Dubai has surged among wealthy Indians.
Dubai has experienced an extraordinary increase in real estate demand due to the change in Golden Visa rules. After Indians, Russians are the second in real estate investment in Dubai.
Easy Policies from the Government to Make Investments in Dubai
The Reserve Bank of India’s “Liberated Remittance Scheme” enables an Indian investor to officially send $250,000 to Dubai annually. A couple is allowed to transfer $500,000 per year under this program for real estate investments in Dubai.
According to industry insiders, Indian investors invested up to $2 billion during the first quarter of 2023, accounting for 20% of all real estate deals in Dubai.
Benefits for Family Members
The Golden Visa also extends its privileges to the spouse, children, and other immediate family of the visa holder. Indian families can therefore move to the UAE through an authorized UAE tour operator for a secure and prosperous future.
Kids can experience quality education in prestigious international schools and universities in the UAE, thus making the Golden Visa more appealing to Indian families.
The Golden Visa program in the UAE offers Indians who are ready to relocate and start a new chapter in life a golden opportunity. Indian citizens can take advantage of the Golden Visa to build a great life in the UAE. Whether an investor or a highly skilled professional, all benefactors of the program contribute to the thriving UAE economy in one way or another.