Golden Visa Be Revoked
The UAE’s long-term residency visa scheme, known as the Golden Visa, is open to investors and business owners, providing them with the right to live in one of the world’s most vibrant economies for a period of up to 10 years. It also allows them to sponsor their spouse, children, and domestic helpers such as nannies and maids.
A number of wealthy individuals from across the globe are considering investing in the UAE to enjoy long-term residence and gain access to a thriving economy. This is largely due to the country’s low tax rate, world-class attractions and quality of life, and its strategic location.
However, with so many factors to consider, deciding how and when to invest in the Golden Visa UAE can be difficult. This is especially true for those who are concerned about their ability to maintain a steady flow of income once they move to the country. In order to ease their concerns, the UAE government has made several changes to its Golden Visa program this year.
Can a Golden Visa Be Revoked?
The UAE is known as a global investment hub and has one of the lowest taxes in the world. The country has seen a surge of interest in its Golden Visa programme over the last few years, as it continues to welcome high-net-worth individuals and families from around the globe.
In a bid to attract the best and brightest talent from around the world, the UAE has introduced a number of changes to its Golden Visa programme. The country now offers a range of different visa options for those who want to invest in the UAE, including a new 10-year Golden Visa that is solely based on talent and not on qualifications or salary.
This new Golden Visa category, which was introduced in November 2023, offers a path to residence for exceptional individuals with a wide array of professions and skills. This includes doctors, scientists, creators of culture and art, innovators, sports people, entrepreneurs, COVID frontline heroes, doctoral degree holders, and more.
The new 10-year Golden Visa is a significant improvement on previous iterations, as it no longer requires a minimum down payment of AED 1 million. This makes it accessible to a wider variety of investors, and is expected to boost the number of foreign investors in the UAE real estate market.
The Golden Visa will also continue to allow the holder to sponsor their family members, such as spouses and children, and domestic helpers (such as nannies and maids). It is also possible for the holder to transfer their visa to another emirate within six months of their current residence in the UAE.
While the UAE’s long-term residency visa is attractive for a number of reasons, there are still a few things that need to be taken into consideration. For example, it is important to ensure that all documents used for legal purposes are translated and notarized before they can be accepted in the UAE. Additionally, the holder must be present in the UAE for at least 180 days in order to avoid their visa being cancelled.