Big News For Indians! UAE Launches Nomination-Based Golden Visa For Lifetime Residency Here's All You Need To Know

(MENAFN- Live Mint) UAE Golden Visa: The UAE has introduced nomination-based Golden Visa, which will enable eligible Indians to receive lifetime residency for a fixed fee.

As per the“new nomination-based visa policy,” Indians can get the UAE's Golden Visa for life by paying a fee of AED 1,00,000 (around ₹23.30 lakh), reported news wire PTI citing beneficiaries and people involved in the process.

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Until the latest policy, Indians were required to invest in property worth at least AED Two Million ( ₹4.66 crore), or invest a large amount in a business in the Gulf nation, to access the Golden Visa.

Golden Visa first phase of testing

As per officials, India and Bangladesh have been selected for the first phase of testing of the nomination based Golden Visa.

Nomination-based Golden Visa application process

For every Golden Visa application, a thorough background check will be carried out - including screening for criminal records, anti-money laundering compliance, and even a review of the applicant's social media presence, said Rayad Kamal Ayub, Managing Director of Rayad Group, the firm selected to pilot the nomination-based Golden Visa in India.

The evaluation will also assess how the applicant might contribute to the UAE's economy or society - whether through culture, finance, trade, science, startups, or professional services, said the consultancy's MD.

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Following the checks, the applications will be sent to the UAE government, which "will make the final decision on the nomination-based Golden Visa,” PTI quoted Kamal as saying.

How to apply for the new Golden Visa

Indians seeking to apply for the nomination-based Golden Visa can file their applications through One VASCO centres (visa concierge service company) in India and Bangladesh, Rayad Group's registered offices and the online portal, said the consultancy firm's MD.

Applicants seeking the UAE Golden Visa under the nomination category may obtain pre-approval from their home country without the need to visit Dubai.

Can I bring family members on this Visa?

As per Kamal, those with the nomination-based golden visa get to bring their family members to Dubai.

The visa also enables one to start or run a business, or take up any professional job in the UAE without a separate work permit.

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Unlike the property-based Golden Visa which ends in case of property sale or division, the nomination-based visa permits lifetime residency in the nation.

Nomination based visa to be extended to China

The Golden Visa nomination process is an agreement between the UAE and its (Comprehensive Economic Partnership Agreement) CEPA signatory/partner countries. This is a pilot project which has started with India and Bangladesh and will soon include China and other CEPA countries, reported PTI.

(with inputs from agencies)

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