Exploring the Benefits of UAE Golden Visa for US Citizens

UAE Golden Visa

The United Arab Emirates, or UAE, is a popular international tourist destination for Americans, especially the Dubai and Abu Dhabi emirates. As the UAE is the perfect blend of culture and modernism, more than 1 million tourists visit this Arab country from the USA. The UAE is a country that gives all the comforts that the US citizens enjoy back at home while giving the opportunity to learn and experience a new and exotic culture. But did you know that more than 50,000 Americans live and work in the UAE as expats? The high standards of living, the ultra-modern amenities, the lack of a personal tax system, etc., are reasons US citizens love to stay in the UAE. To encourage more Americans to set their base in this Middle Eastern country, the UAE government has introduced the UAE golden visa. Here is everything you need to know about UAE golden visas for US citizens.

What is the UAE Golden Visa?

A UAE golden visa is a long-term visa or residence permit allowing the recipient to stay and work in the UAE for 5 or 10 years. This visa is special because you do not need a local sponsor to apply for this visa. The golden visa is given to those individuals who are ready to make public investments or invest in real estate in the UAE. It is also awarded to exceptional individuals in various fields like athletes, scientists, inventors, doctors, entrepreneurs, etc. It is also given to professionals who showcased their dedication and hard work during the Covid-19 pandemic. This includes medical assistants, nurses, lab technicians, etc.

Advantages of UAE Golden Visa for US Citizens

The UAE or Dubai golden visa program was launched in 2019 in lieu of attracting serious investors and talented professionals to the UAE. A person needs to invest $136,000 in any business project in the UAE to get a UAE golden visa for five years and $545,000 for a golden visa for ten years. But before you start thinking of applying for one, you must know about the advantages of having one.

Long-Term Stay in the Country

People with a regular UAE residence visa must renew their visa every 1-3 years if they want to continue living in the country. But this does not apply to a person with a golden visa. The golden visa is issued for 5 years or 10 years, depending on the investment you have made in the UAE. Depending on the validity of your golden visa, you will have to renew it only after 5 or 10 years.

Secure the Residency of Your Family

The UAE golden visa is not just for the individual. It also extends to their spouse and children, including unmarried and adult children. Your family gets an automatic residency permit along with you. You can enroll your children in schools and colleges in the UAE, giving them access to the premium quality of education they can receive. Another advantage of the UAE golden visa is that the family of the primary applicant can stay in the country till the validity of the visa expires, even in a situation when the person has passed away. UAE golden visa owners can also take their parents to the country for a maximum of ten years. You can also sponsor house help from your home country or any other foreign country with this visa.

Own Your Company

It is common knowledge that foreigners need to have a UAE citizen sponsor or backer if they want to start their own business in the country. The possession of a UAE golden visa will negate this requirement. You can have complete ownership of your company in the UAE if you have a golden visa. This is especially true if you start your business in one of the free zones in the country, which are present in Dubai and Abu Dhabi. As a business owner, you have the right to avail exemptions from import and export taxes, corporate taxes, and VAT, making doing business in the UAE easier and more profitable.

Business Opportunities in GCC Countries

US citizens are free to visit numerous countries around the world on an e-visa or visa on arrival, including almost all the other GCC (Saudi Arabia, Qatar, Bahrain, Kuwait, and Oman) countries. However, as a US citizen who has a UAE golden visa, you can do more than just visit the GCC countries for leisure or personal reasons. In fact, the UAE golden visa gives you the right to do business or commercial dealings in these countries.

Own a Property

Until recently, expats could not buy a property in the UAE. But this has changed now. If you have a UAE golden visa, you can buy a property of your choice anywhere in the Emirates. It is quite advantageous for Americans. This is because you can buy a lavish residential unit or house in the UAE at less than the price that you will pay for a smaller or similar property in the United States of America, especially in larger cities like New York, California, etc. Plus, it is a great investment, as property prices in the UAE are growing consistently.

Access to High-Quality Education

US citizens with UAE golden visa have the right to live and work in the country and study there. The UAE is home to some of the best world-class educational institutions, many of which are associated with the prestigious institutions of the UK and the USA. You and your family members can get access to the high quality of education that these schools, colleges, and universities offer.

FAQs About UAE Golden Visa

1. What are the documents to apply for UAE Golden Visa for US citizens?

While applying for a golden visa, you will need to submit the following documents:

  • Passport
  • Recent photo
  • Marriage certificate (if applicable)
  • Birth certificate
  • Certificate of non-marriage for children
  • Health insurance
  • No criminal record certificate from home country
  • Medical fitness certificate
  • UAE good conduct certificate issued by the Dubai Land Department
  • Current UAE or Dubai visa

2. What makes you eligible for a UAE Golden Visa?

You can get a UAE golden visa if you are an investor (public or real estate), entrepreneur, scientist, doctor, inventor, sports professional, Ph.D. holder, creative (art and culture), specialist in science or engineering, specialist in priority educational fields, etc.

3. What is the process of applying for a UAE Golden Visa?

  • The first step is preliminary due diligence, where a preliminary assessment is conducted by an anti-money laundering officer. This is done in a confidential manner to rule out any kind of issues.
  • The second is where the applicant submits all the necessary documents. While some documents are the same for everyone, you will have to submit some documents as per your eligibility.
  • Once your papers are in order, you will receive a six-month UAE visa. This is a multiple entry visa, and you can visit the UAE as many times as you want with this visa. During these six months, you need to complete a medical examination, choose a property, and apply for a golden visa.
  • You need to purchase a property or invest in a public domain.
  • When all the processes are completed, you will receive your UAE golden visa.

4. What is the processing time for a UAE Golden Visa?

The processing time for a UAE golden visa can be anywhere between a few weeks to a month. The processing time is usually less for those who are already residents of the UAE.

5. What is the difference between a golden and a green visa in the UAE?

Most people are confused between the UAE golden and green visa. Unlike the UAE golden visa, the UAE green visa is exclusively given to investors and entrepreneurs who align with the sustainable development goals of the country. Another difference is that the green visa is only available for 5 years, while the golden visa is available for 5 and 10 years.

6. Will I get UAE citizenship if I have a golden visa?

There is no guarantee that a UAE golden visa will be converted into UAE citizenship. Sometimes, you may get it if you have lived in the UAE for over 30 years. But this is not a sure thing.

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