Introducing a major shift from its earlier rules, the United Arab Emirates (UAE) has rolled out a nomination-based Golden Visa scheme -- specifically targeting Indian and Bangladeshi citizens -- to apply for lifetime at a one-time cost of AED 1,00,000 (approximately Rs 23.3 lakh)
While earlier versions of the Golden Visa focused heavily on property investments, business or start-up ownership, this time the initiative hopes to welcome talent from a wide range of sectors (Image: AP)
For the first phase of testing this visa, India and Bangladesh have been selected. In the future phases of the project, China and other CEPA partner nations are expected to be included (Image: AP)
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For individuals looking for a permanent residency in Dubai without locking funds in real estate, the nomination-based model introduces a more accessible alternative (Representative Image)
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Even under the new Rs 23 lakh route, the approval remains a merit-based system. The applicants will have to go through screening based on their profession, societal contributions as well as perceived economic value to the UAE (Image: AP)
The nomination-based visa opens the door to middle-income professionals and creative talent. Eligible applicants include educators, researchers, senior healthcare workers, business executives, and content creators such as YouTubers, podcasters, and e-sports professionals aged 25+ (Image: AP)
Indians seeking to be a part of the initiative must first begin with a nomination through an authorised consultancy. A consultancy named Rayad Group is among the agencies chosen to test the initial form of the nomination-based golden visa in India (AP Photo)
Once the applicant applies for the Golden Visa, there will be background checks, which will include anti-money laundering and criminal record checks, as well as their social media. It 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, among others, Rayad Kamal Ayub, Managing Director of Rayad Group, told PTI (Image: PTI)
