The United Arab Emirates (UAE) has introduced a new nomination-based Golden Visa, making lifetime residency in the country far more accessible to Indians. Unlike the traditional route, which required property investments worth at least AED 2 million (Rs 4.66 crore) or significant business stakes, this new scheme opens doors for eligible individuals at a fraction of the cost, starting from Rs 23 lakh.
The pilot project, which has started with India and Bangladesh, and will soon include China and other Comprehensive Economic Partnership Agreement (CEPA) countries.
Those who opt for this visa can do any business or professional work in the UAE.
With over a billion Indians already calling the UAE home and having strong ties, the Golden Visa move could greatly aid those looking to settle more permanently in the Arabian nation. Rayad Kamal Ayub of the Rayad Group, which has been mandated to carry out the Golden Visa process, termed it a golden opportunity for Indians.
However, only around 5,000 Indians will be able to apply for this nomination-based visa in three months, beneficiaries and people involved in the process told news agency PTI.
Those with a Golden Visa are allowed to sponsor their family members to join them in Dubai.
“You can also keep servants and drivers based on this visa. You can do any business or professional work here,” news agency PTI quoted Rayad Kamal as saying.
He added that the property-based Golden Visa ends in case of property sale or division, but the nomination-based visa will remain forever.
The UAE government’s decision to launch this visa programme and choose India as the initial country is a testament to deepening business, cultural, and geopolitical ties between the two nations, which were further strengthened by the 2022 bilateral Comprehensive Economic Partnership Agreement (CEPA).
