UAE’s Golden Visa: Entrepreneurs – Comprehensive Guide

UAE’s Golden Visa: Entrepreneurs – Comprehensive Guide

The UAE Golden Visa for Entrepreneurs is a long-term residency program aimed at fostering innovation and economic growth by supporting entrepreneurs who own or lead impactful projects. This visa allows entrepreneurs to live, work, or establish businesses in the UAE while enjoying numerous benefits.

Benefits of the Golden Visa for Entrepreneurs

1. Long-Term Residency:
   • A 5-year renewable visa without the need for a sponsor.
2. Family Sponsorship:
   • Entrepreneurs can sponsor their family members, including spouses and children, regardless of age.
3. Flexibility in Travel:
   • Visa holders can stay outside the UAE for more than six months without invalidating their visa.
4. Unlimited Domestic Helpers:
   • Entrepreneurs can sponsor an unlimited number of domestic helpers.
5. Stability for Family Members:
   • Family members can stay in the UAE until the end of the visa validity, even if the primary visa holder passes away.

Eligibility Requirements for Entrepreneurs

Entrepreneurs can qualify for the Golden Visa if they meet specific criteria that demonstrate their innovative contributions and economic impact.

1. Ownership of an Economic Project

• The entrepreneur must own an economic project of a technical or future-oriented nature that involves risk and innovation.

2. Required Approvals

The entrepreneur must secure approval letters from the following entities:

1. Auditor in the UAE:
   • A letter confirming that the project value is not less than AED 500,000.
2. Local Authorities:
   • A letter stating that the project is of a technical or future nature.
3. Accredited Business Incubator in the UAE:
   • Approval to establish the proposed activity in the UAE.

3. Business Compliance

• Entrepreneurs must ensure that their projects comply with UAE business regulations and contribute to the economic development of the country.

Steps to Apply for the Entrepreneur Golden Visa

1. Preparation:
   • Gather required documents, including approval letters, project valuation, and other evidence supporting the nature and value of the project.
2. Application Submission:
   • Submit the application through the Federal Authority for Identity, Citizenship, Customs, and Port Security (ICP) or the relevant emirate’s portal.
   • Applications can also be initiated via the ICP App, available on Google Play and the App Store.
3. Review and Approval:
   • The UAE authorities will evaluate the application based on the project’s economic impact, innovation, and alignment with national goals.
4. Issuance:
   • Once approved, the Golden Visa will be issued, granting the entrepreneur long-term residency in the UAE.

Documents Required

• Approval Letters:
  • Auditor’s letter confirming the project value.
  • Local authority letter certifying the technical or future-oriented nature of the project.
  • Business incubator approval letter.
• Proof of Business Activity:
  • Trade license or equivalent documents.
• Identity Proof:
  • Passport and valid identification documents.
• Additional Supporting Documents:
  • Any certificates or evidence of the project’s innovative or economic significance.

Why Choose the UAE Golden Visa for Entrepreneurs?

1. Thriving Business Ecosystem:
   • The UAE provides a supportive environment for startups, including access to global markets, advanced infrastructure, and pro-business policies.
2. Access to Funding and Resources:
   • Entrepreneurs can leverage business incubators, accelerators, and venture capital networks in the UAE.
3. Global Connectivity:
   • As a major global hub, the UAE offers unparalleled connectivity to international markets.

Where to Apply

• ICP Website: Federal Authority for Identity, Citizenship, Customs, and Port Security
• ICP App: Available on Google Play and App Store.
• Local authorities or free zone entities where the business is established.

Related Services

• Business Licensing and Permits:
  • For free zones, mainland companies, or specialized activities.
• Innovation and Incubation Programs:
  • Access through organizations like Hub71 and Dubai Future Foundation.
• Golden Visa Services:
  • Offered by the General Directorate of Residency and Foreigners Affairs (GDRFA) and local business councils.

The UAE Golden Visa for Entrepreneurs represents a significant opportunity for innovators and business leaders to establish a long-term presence in one of the world’s most dynamic economies. By fulfilling the outlined criteria and leveraging the UAE’s business-friendly environment, entrepreneurs can thrive and contribute to the nation’s vision for sustainable economic growth.