UAE's nomination-based Golden Visa vs real estate-linked residency: Know the key differences

The UAE Golden Visa grants long-term residency, typically ranging from 5-10 years.

Indians aspiring to move to the United Arab Emirates (UAE) can now apply for its nomination-based Golden Visa programme that offers a 10-year residency in the country for a fixed fee, according to reports.

This initiative comes as a significant relief for Indians planning to relocate to the Emirates, who previously had to invest around AED 2 million (approximately Rs 4.7 crore) in local real estate to qualify for a 10-year renewable residency visa.

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According to Henley & Partners, the UAE continues to dominate as the top destination for wealthy migrants, with an estimated 6,700 millionaires relocating to the country by the end of 2024. The US comes next with inflows of more than 3,800 millionaires estimated last year.

According to a PTI report, the UAE government has introduced a new category of Golden Visa based on nominations, offering an alternative to the existing system that requires substantial investments in property or business. This new visa type comes with certain conditions but eliminates the need for large financial commitments.

VFS Global's Education, Trade & Migration (VFS ETM) Services, a business unit of the VFS Global group, in partnership with the Rayad Group, has announced that it will offer advisory services for UAE Golden visa applicants in India.

The service will allow eligible individuals including business owners, professionals, scientists entrepreneurs, creatives and influencers to apply for a 10-year UAE residency under a government nomination category, with no requirement to invest in real estate or establish a company. Visa holders can sponsor their spouse, children (including adult children), parents, and household staff to live in the UAE, according to VFS Global.

This specialised service will be the maiden roll out from the 'Centre of Excellence' jointly set up by VFS ETM and Rayad Group recently in New Delhi, Mumbai, Ahmedabad, Chennai Hyderabad and Pune.

The specifics

The UAE Golden Visa under the nomination category can be obtained with pre-approval from the applicant’s home country, without the need to visit the UAE.

Nomination here refers to the applicant being recognised for their achievements or potential in fields such as medicine, science, technology, art, trade, or business within their home country.

Who is eligible?

Applicants who can demonstrate significant contribution to the UAE’s trade and economic development, business, advancements in science and technology, or the enrichment of the arts and cultural landscape are eligible to apply.

Documents required

• Comprehensive personal and professional profile.
• Bank statements for the last six months.
• A copy of passport.
• Highest academic qualification.
• Valid proof of address.
• A police clearance certificate

Key benefits of the Visa

• No employer or sponsor required
• No need to incorporate a company
• Travel freedom and family benefits
• Easier options to support family members
• Obtain a driver’s license without completing mandatory courses
• Access to a premium health insurance plan

How to apply?

Over 5,000 Indians will get to apply for this nomination-based visa in three months. India and Bangladesh have been selected for the first phase of testing this visa, and a consultancy named Rayad Group has been chosen to test the initial form of the nomination-based Golden Visa in India, as per PTI.

Applications can be submitted through One VASCO centres (visa concierge service company) in India and Bangladesh, Rayad Group's registered offices, their online portal or dedicated call centre.

The team at Rayad Group will assess the profile to determine eligibility for the Golden Visa programme. It will guide applicants through the entire process, including the documentation requirements and application to the UAE Government.

The application and pre-approval process can be completed online without the need to travel to the UAE.

Rayad Kamal Ayub, Managing Director of Rayad Group, said, “The United Arab Emirates’ unique blend of economic stability, favourable tax policies, and luxurious living standards positions it as a premier destination for high-net-worth individuals seeking new opportunities and an elevated quality of life."

The primary applicant can sponsor their spouse, children, and eligible support staff under the UAE Golden Visa programme.

Access to government services

Much like the UAE nationals, Golden Visa holders by nomination will have access to a range of government services, including healthcare and education.

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Indians will be able to access UAE's Golden Visa (nomination category) by paying a fee of AED 1,00,000 (around Rs 23.30 lakh), PTI reported. This is expected to be a one-time fee.

On the other hand, for obtaining real estate-linked visa, one has to obtain a 10-year renewable residence visa by purchasing one of the following:

• A property worth a minimum of AED 2 million (approximately Rs 4.7 crore).

• A property worth a minimum of AED 2 million, with a loan from specific local banks.

• One or more off-plan properties worth a minimum of AED 2 million from approved local real estate companies.

Selection process

Whenever an applicant applies for this Golden Visa, Rayad Group will first check their background, which will include anti-money laundering and criminal records, as well as their social media history.

The background check will also show if and how the applicant can benefit the UAE's market and business activities in any other way such as culture, finance, trade, science, startups, professional services, etc.

In the existing investment-linked programme, applications for UAE residency need to be accompanied by the appropriate fees and supporting documents.

The government's registration and application fees are about AED 2,800 to 5,000, with additional fees for family sponsorship. Additional costs also include medical tests, biometric scans, legal and advisory fees.

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Kamal Ayub told PTI that while the property-based Golden Visa becomes invalid if the property is sold or divided, the nomination-based visa offers residency regardless of such changes.

Benefits of UAE golden visa

No income tax: The UAE offers a favourable tax environment, with no personal income tax, making it an attractive destination for high net worth individuals and professionals.

Travel benefits: The Golden Visa grants multiple-entry privileges, allowing you to travel in and out of the UAE without the need for additional visas.

Apart from real-estate investment Golden Visa and the new nomination-based visa, other types of visas on offer by UAE include Entrepreneur & Business Investor Visa, Highly Skilled Professionals Visa (doctors, engineers, scientists, etc), outstanding Students Visa, Creative & Cultural Talent Visa, Freelancers & Remote Workers Visa and Humanitarian & Social Work Visa.

Keep in mind that the UAE Golden Visa is strictly a residency permit and does not lead to citizenship. The UAE only grants citizenship in exceptional cases such as for individuals who have made significant contributions in the fields of science, business or culture.