In a landmark move, the United Arab Emirates has launched a new nomination-based Golden Visa program, making lifetime residency accessible to eligible Indians for a one-time fee of AED 100,000 (about Rs 23.3 lakh). This initiative marks a significant shift from the UAE’s earlier investment-heavy residency model and positions India as one of the first countries to benefit.
What’s new about this Golden visa?
- No investment needed: Unlike the previous requirement of investing at least AED 2 million (Rs 4.66 crore) in property, the new Golden Visa can be obtained without any real estate or business investment.
- Nomination-based: Applicants are nominated based on their professional achievements, contributions to society, or potential to benefit key UAE sectors like culture, trade, science, startups, and finance.
- Lifetime validity: The visa offers permanent residency, not tied to property ownership or business interests.
Who can apply?
- Eligibility: Indians and Bangladeshis are included in the pilot phase.
- Expected Uptake: Over 5,000 Indian applications are anticipated in just the first three months.
How does it work?
- Vetting Process: Applicants undergo checks for criminal records, anti-money laundering compliance, and social media behavior.
- Application Process: Managed by Rayad Group in partnership with VFS and One Vasco centers across India and Bangladesh. Applications can be submitted in person or online—no need to visit Dubai initially.
- Benefits: Approved visa holders can bring family, employ domestic staff, run a business, or take up employment in the UAE. The visa is permanent, even if property is sold or business interests change.
How will this benefit India?
1. New pathways for Indian professionals and entrepreneurs
- Broader Access: Talented Indians from diverse backgrounds—arts, science, technology, and business—can now secure residency without massive financial barriers.
- Startup and Innovation Boost: Indian entrepreneurs and startups gain easier access to the UAE’s dynamic business environment, fostering cross-border collaborations and investment.
2. Stronger India-UAE economic ties
- CEPA Synergy: The initiative builds on the momentum of the 2022 Comprehensive Economic Partnership Agreement (CEPA), deepening trade, investment, and people-to-people links.
- Gateway to Global Markets: UAE’s strategic location and business-friendly policies make it a launchpad for Indian companies targeting the Middle East, Africa, and Europe.
3. Support for Indian families and diaspora
- Family Inclusion: Visa holders can bring family members and hire staff, making long-term settlement viable and attractive.
- Stability: Lifetime residency offers security and planning flexibility, encouraging more Indians to consider the UAE for work, education, or retirement.
4. Talent mobility and brain gain
- Reverse Brain Drain: With easier residency options, skilled Indians who might have moved elsewhere may now choose the UAE, keeping talent within the region and benefiting both economies.
- Cultural Exchange: Enhanced mobility fosters cultural ties and mutual understanding between India and the UAE.
What’s next?
The pilot phase targets India and Bangladesh, with plans to expand to other CEPA partner countries, including China. As the UAE continues to diversify its economy and attract global talent, India stands to gain from new opportunities for its professionals, entrepreneurs, and families.
Altogether, the UAE’s new Golden Visa is opening doors for thousands of Indians to live, work, and thrive in one of the world’s most dynamic regions.