UAE’s Nomination-Based Golden Visa: A Closer Look at the Rs 23 Lakh Offer

Indian media is buzzing with the news that the United Arab Emirates (UAE) has introduced a new type of Golden Visa. According to PTI, this visa will be based on nomination, unlike the current practice of requiring significant investments in property or business.

Under the new nomination-based visa policy, Indians can now obtain a UAE Golden Visa for life by paying a fee of AED 1,00,000 (approximately Rs 23.30 lakh). However, the road to UAE residency for this fee is not as simple as it might seem.

Traditionally, the price for the UAE Golden Visa is substantial. Official records indicate that Indians need to invest in property valued at least AED two million (approximately Rs 4.66 crore) or invest a significant amount in a business in the UAE to qualify for the Golden Visa.

The new nomination-based visa policy for obtaining a UAE Golden Visa does not require any investment in real estate or business. The Golden Visa is one of the services offered by the UAE’s Federal Authority for Identity, Citizenship, Customs, and Port Security (ICP). However, the ICP website currently does not provide details on the new nomination-based visa policy.

The UAE government’s new nomination-based visa policy is designed for those looking to obtain a UAE Golden Visa, which is a long-term residency visa. This visa allows international talent to live, work, and study in the UAE while enjoying exceptional benefits. Eligible individuals include investors, entrepreneurs, scientists, outstanding students and graduates, humanitarian pioneers, and front-line heroes.

According to a VFS release, this opportunity allows eligible individuals, including business owners, professionals, scientists, entrepreneurs, creatives, and influencers, to apply for a 10-year UAE residency under a government nomination category. Visa holders can sponsor their spouse, children (including adult children), parents, and household staff to live in the UAE.

This specialized service will be the first rollout from the Centre of Excellence jointly set up by VFS ETM and Rayad Group in New Delhi, Mumbai, Ahmedabad, Chennai, Hyderabad, and Pune. These centers will use advancements in Generative AI technology alongside legal expertise to assist individuals with migration processes and compliance with immigration regulations.

Over 5,000 Indians are expected to apply for this nomination-based visa in the first three months. However, the visa approvals will go through a vetting process and will not be granted simply by paying Rs 23 lakh.

Rayad Kamal, a spokesperson, stated, “Whenever an applicant applies for this Golden Visa, we will first check their background, which will include anti-money laundering and criminal record checks, as well as their social media.” The background check will also assess how the applicant can benefit the UAE’s market and business activities in areas such as culture, finance, trade, science, startups, and professional services.

After the vetting process, RayadGroup will submit the application to the government, which will make the final decision on the nomination-based Golden Visa. Applicants may obtain pre-approval from their home country without the need to visit Dubai.

Rayad Kamal also mentioned that the property-based Golden Visa ends if the property is sold or divided, but the nomination-based visa will remain valid indefinitely. RayadGroup and VFS have been selected to vet the applicants and forward them to the UAE authorities.

As of now, the UAE Golden Visa is open to investors, entrepreneurs, and individuals with specialized talents, as well as bright students with promising scientific capabilities.