The UAE Golden Visa program has become a popular option for expatriates looking to establish a long-term presence in the country. With benefits such as residency for up to 10 years, the Golden Visa offers a pathway to stability and security in the UAE. However, one key aspect that applicants need to consider is the salary requirements for the Golden Visa, especially as they may change in 2024.
Therefore, understanding the UAE golden visa salary requirement in 2024 is crucial for those looking to qualify for this prestigious visa status.
What is Golden Visa UAE
The UAE Golden Visa is a long-term residency permit offering individuals and families many benefits, including extended residency, multiple entry visas, and the ability to sponsor dependents. It’s designed to attract skilled professionals, investors, entrepreneurs, and individuals with exceptional talents to the UAE.
Eligibility Criteria for the Golden Visa
The eligibility criteria for the Golden Visa vary depending on the specific category you fall into. However, some common requirements include:
1. Employment
Individuals employed in specific sectors, such as healthcare, education, technology, or research, may be eligible if they meet certain salary criteria.
2. Investment
Investors who invest a specified amount in real estate, businesses, or government bonds can qualify for the Golden Visa.
3. Entrepreneurship
Entrepreneurs who establish a new company in the UAE with a minimum capital investment may be eligible.
4. Talent
Individuals with exceptional talents in fields such as arts, culture, sports, or sciences may qualify based on their achievements.
5. Family
The Golden Visa can be extended to family members of the primary applicant.
New Salary Requirements for Golden Visa UAE
The UAE golden visa salary requirement in 2024 has significantly changed. Previously, the total compensation package, including allowances, was considered. However, the new rule focuses solely on the basic salary.
Professionals seeking the 10-year Golden Visa must now have a basic monthly salary of AED 30,000 (approximately USD 8,200). This requirement excludes any additional allowances such as housing, transportation, or other benefits. This means that even if your total compensation package exceeds AED 30,000, you may still not be eligible if your basic salary falls short.
The new salary requirement primarily affects skilled professionals, particularly those in managerial roles or specialized fields. This emphasizes the UAE’s intent to attract high-caliber individuals who can contribute significantly to the country’s economic and social development.
Public investors seeking a UAE Golden Visa must also present a letter from the UAE Federal Tax Authority (FTA) indicating that they pay at least AED 250,000 (USD 68,000) in taxes annually.
To be eligible for a UAE Golden Visa as an entrepreneur, your project must be innovative and contribute to the UAE’s economy. Your company must be registered in the UAE. The project’s value must be at least AED 500,000.
For investors, the required investment amount varies depending on the specific investment option. It can range from a minimum of AED 2 million for real estate investments to higher amounts for other investment options.
Individuals with exceptional talents in fields such as arts, culture, sports, or sciences may be eligible for a Golden Visa based on their achievements, without necessarily meeting specific financial requirements.
Documents Required to Get the UAE Golden Visa
The specific documents required for a UAE Golden Visa may vary depending on your eligibility category (e.g., employee, investor, entrepreneur). However, some common documents typically include:
- A passport with a validity of at least six months
- Recent passport-sized photographs
- A medical certificate confirming good health
- No Objection Certificate (NOC)
- Proof of Address
- Investment documents (e.g., property deed, bank statements, investment certificates), for investors
- Company registration documents (for business owners)
How to Apply for the UAE Golden Visa
The process for applying for a UAE Golden Visa involves several steps:
1. Determine Eligibility
Assess your eligibility based on your specific category (employee, investor, entrepreneur, talent).
2. Gather Required Documents
Collect all necessary documents as outlined in the previous response.
3. Choose an Application Channel
You can apply either online through the UAE government’s official portal or in person at a designated visa center.
4. Submit Application
Submit your application along with the required documents and fees.
5. Biometric Enrollment
Attending a biometric enrollment appointment to provide fingerprints and other biometric information.
6. Wait for Processing
The processing time for Golden Visa applications can vary. You may be required to wait for a decision.
7. Receive Approval or Rejection
If your application is approved, you will receive a Golden Visa. If rejected, you may be notified of the reasons for rejection.
Read these posts also:
How to Get a Dubai Golden Visa
Top 12 Amazing UAE Golden Visa Benefits
Take the Next Step!
The UAE Golden Visa offers a valuable opportunity for individuals and families seeking long-term residency and many benefits in the United Arab Emirates. As we’ve discussed, the minimum salary threshold for eligible professionals has increased in 2024. However, there are various pathways to obtain a Golden Visa, including investment, entrepreneurship, and talent-based categories, which may have different financial requirements.
By carefully considering your options and meeting the necessary criteria, you can take advantage of the numerous benefits that the Golden Visa offers, such as extended residency, multiple entry visas, and the ability to sponsor dependents.
Shuraa Business Setup is here to assist you throughout your journey. Our experienced team can provide expert guidance on company formation and visa assistance to ensure that you meet all the essential eligibility criteria. With our support, you can seamlessly go through the process and enjoy the benefits of working and living in Dubai. Get in touch today at +971 4 4081900, WhatsApp at +971 50 7775554, or [email protected].
