Over 6 million Indians visit Dubai each year, making India one of the significant sources of tourists for the country. Indian citizens planning to reside in Dubai can remain rest-assured about their residency. Because the government of UAE has started a new type of Golden Visa for Indians based on nomination. Though there are some conditions unlike the current practice of investing large amounts in either property or business here.
The Golden visa for Indians also offers lifetime residency for a one-time fee of AED 100,000 (around INR 23.30 lakhs). The new scheme by the government of the United Arab Emirates eliminates the need for property investment or a trade license. Therefore, the visa is a highly attractive option for those seeking long-term residency in the UAE.
The New Nomination-Based Visa Policy
Previously, acquiring a UAE Golden Visa involved hefty investment in business or property. But the new nomination-based visa policy enables Indians to obtain a Golden Visa for life for a single payment. It forms part of a pilot project involving India and Bangladesh at present with other Comprehensive Economic Partnership Agreement (CEPA) nations.
Application Process and Eligibility
To be eligible for this nomination-based Golden Visa, applicants go through a rigorous background check. This entails anti-money laundering verification, criminal record checks, and a scan of their chances of contributing to the UAE’s business and economic scene. They can make applications at One VASCO centres in India, registered offices, an online portal, or through a special call centre. The program is anticipated to receive more than 5,000 Indian applicants within the first three months.
Why is the Golden Visa Beneficial?
The benefits of Golden Visa by UAE includes,
- Life-Long Residency: The visa holders can reside in the UAE for an extended period without the need for a local sponsor.
- Family Inclusion: Spouses and dependent children of visa holders can also obtain residency permits.
- Work Flexibility: The golden visa holders can work in the UAE without a separate work permit.
- Better Access to Services: Holders and families can access education, healthcare, and other government services.
- Tax Benefits: There is no personal income tax in the UAE, providing significant financial advantages for visa holders.
- Global Mobility: Indian citizens with golden visas can enjoy visa-free travel to 133 countries and visa-on-arrival to 47.
End Note
More than 5,000 Indians are expected to apply for the nomination-based visa in three months. There will be background verification of the applicants for inclusion of anti-money laundering and criminal record checks. Furthermore, the applicants seeking the UAE golden visa under the nomination category can obtain pre-approval from their home country. Therefore, for people considering moving to the UAE, the golden visa is now a golden chance to obtain long-term residency.
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