The UAE’s 10-year golden visa has become one of the most sought-after residency options, providing long-term stability for professionals, investors and skilled workers.
The ‘peace of mind’ and stability it offers individuals has created a ‘golden visa boom,’ say experts, as it has transformed the outlook of people who see a future for their families.
Many multinational companies offer the long-term residency to employees marking a major shift from frequently applying for visas and contributes to a sense of security and permanence.
When you get a golden visa, people think of building a life here
Haider Hussain,
partner at immigration services company Fragomen
“The mindset has changed because before residents would largely earn their livelihood in the UAE but then invest in their home country. The golden visa has opened up the pathway to stay here longer and made it attractive to look at investment in property and reinvesting in the economy,” Haider Hussain, partner at immigration services company Fragomen, told The National.
“For multinational companies supporting employees who qualify is beneficial as they don’t have to be stuck renewing visas every two years. It provides peace of mind as it is a clear pathway for long-term residency. When you get a golden visa, people think of building a life here.
“Other countries like Saudi Arabia, Qatar and Bahrain are also offering premium residencies and golden visas. It’s all out of the golden visa boom happening in the UAE.”
There were questions and confusion last year about basic and gross salary requirements and this has been resolved. While no formal announcement was made, companies handling visas have confirmed the current requirements with authorities.
Mr Hussain outlines the criteria on frequently asked questions about salary and recent January updates on the length of employment to qualify.
What is the salary I need to qualify for a golden visa?
A key eligibility factor for the UAE Golden Visa is a minimum gross salary of Dh30,000 per month, including allowances in addition to their basic salary. To qualify, authorities require a salary confirmation letter from the employer and a bank statement for the past three to six months as evidence that this is the overall monthly salary credited. The criteria is that the bank statements reflect consistently that every month at least Dh 30,000 comes in.
What allowances qualify?
How companies structure pay packages varies. Any fixed allowance that is paid monthly as part of the salary will be considered. Some companies give housing and transport that comes in as a fixed allowance every month as part of the salary. Education and school bus allowance is often a lump sum that companies will reimburse based on receipts and is paid once or twice in a year. For any allowances to be considered as part of the overall monthly salary these should be included every month in the salary statement.
Is there a shift from the previous basic salary rule?
An August 2024 decision by UAE authorities confirms that individuals are once again eligible if they have a minimum gross salary of Dh 30,000 per month, including allowances in addition to their basic salary. This reverses the earlier May 2024 rule that required applicants to have a monthly basic salary of Dh30,000, excluding allowances.
Why do applications get rejected?
Individuals who applied for the golden visa with a minimum gross salary of Dh 30,000 per month may have faced rejections. Rejections could be due to other factors, such as the applicant's job title not aligning with those recognised by the Ministry of Human Resources and Emiratisation, or failure to provide a no-objection certificate from their employer.
Are there exceptions to the salary rule?
It is extremely difficult to get an exception to this rule as a salary confirmation letter and bank statement is needed. The only exception is if an individual is nominated by a UAE government authority under one of the special categories.
What other criteria is considered?
When applying for a golden visa under the minimum gross salary of Dh30,000 per month, the additional criteria includes: a three to six-month bank statement, applicants in Dubai must have a minimum of two years of experience with the same employer within the same local entity sponsoring the visa.
Job title: The applicant's job title on their visa and the emirates identity must align with roles accepted by the Mohre, the Ministry of Human Resources and Emiratisation.
NOC requirement: A no-objection certificate or NOC from the employer is required for applicants without a government nomination.
Degree attestation: The applicant's degree must be attested by the UAE Embassy in the country it is issued and by the UAE Ministry of Foreign Affairs.
Equivalency: The degree must be equalised and recognised by the UAE Ministry of Education.
New two-year requirement
Individuals applying under the scientists and specialists (includes executives) category in Dubai, who do not have a government nomination, should have completed at least two years of employment with the local entity sponsoring their visa.
The January update means that new hires in Dubai will not immediately get golden visas. This eligibility currently applies only to applicants in Dubai. Other emirates, including Abu Dhabi, do not currently have this requirement.
Applicants must ensure they meet the two-year employment condition with the same local entity sponsoring their visa or consider alternative golden visa categories.
What are my other options?
Individuals can be nominated in special categories for scientists, students, artists, athletes, sections for distinguished professionals and exceptional talents. Special categories are via the nomination route and that usually removes the salary criteria.
The investment route
The investment route is an alternative to obtain a golden visa for people who do not meet the salary criteria. They must own property in UAE worth at least Dh 2 million or have a fixed deposit of at least Dh 2 million in a UAE investment fund or have an investment of at least Dh 2 million in a UAE-registered entity. It is important to remember that the investment must be in the same emirate where the individual is applying for the golden visa.
It can be with a single property or combining several properties. Those investing in mortgaged and off-plan properties are eligible if they make a down-payment of at least 50 per cent of the property value or obtain a bank guarantee for the remaining amount. The property should also be at least 50 per cent complete
What is the timeline for a visa to be issued?
This depends on the route you take to apply for your visa. But generally if all your documents are in order it will come through in two to three weeks.
Can I travel overseas?
You can travel while your application is in process, but once your current visa is cancelled and your new golden visa permit is in the process of being issued, you must stay in the UAE to complete your medical. The process should usually be completed within a week.
Killing of Qassem Suleimani
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
Company profile: buybackbazaar.com
Name: buybackbazaar.com
Started: January 2018
Founder(s): Pishu Ganglani and Ricky Husaini
Based: Dubai
Sector: FinTech, micro finance
Initial investment: $1 million
Stamp duty timeline
December 2014: Former UK finance minister George Osbourne reforms stamp duty, replacing the slab system with a blended rate scheme, with the top rate increasing to 12 per cent from 10 per cent:
Up to £125,000 - 0%; £125,000 to £250,000 – 2%; £250,000 to £925,000 – 5%; £925,000 to £1.5m: 10%; Over £1.5m – 12%
April 2016: New 3% surcharge applied to any buy-to-let properties or additional homes purchased.
July 2020: Rishi Sunak unveils SDLT holiday, with no tax to pay on the first £500,000, with buyers saving up to £15,000.
March 2021: Mr Sunak decides the fate of SDLT holiday at his March 3 budget, with expectations he will extend the perk unti June.
April 2021: 2% SDLT surcharge added to property transactions made by overseas buyers.
UAE currency: the story behind the money in your pockets
How to join and use Abu Dhabi’s public libraries
• There are six libraries in Abu Dhabi emirate run by the Department of Culture and Tourism, including one in Al Ain and Al Dhafra.
• Libraries are free to visit and visitors can consult books, use online resources and study there. Most are open from 8am to 8pm on weekdays, closed on Fridays and have variable hours on Saturdays, except for Qasr Al Watan which is open from 10am to 8pm every day.
• In order to borrow books, visitors must join the service by providing a passport photograph, Emirates ID and a refundable deposit of Dh400. Members can borrow five books for three weeks, all of which are renewable up to two times online.
• If users do not wish to pay the fee, they can still use the library’s electronic resources for free by simply registering on the website. Once registered, a username and password is provided, allowing remote access.
• For more information visit the library network's website.
MATCH INFO
Euro 2020 qualifier
Ukraine 2 (Yaremchuk 06', Yarmolenko 27')
Portugal 1 (Ronaldo 72' pen)
About Proto21
Date started: May 2018
Founder: Pir Arkam
Based: Dubai
Sector: Additive manufacturing (aka, 3D printing)
Staff: 18
Funding: Invested, supported and partnered by Joseph Group
Muslim Council of Elders condemns terrorism on religious sites
The Muslim Council of Elders has strongly condemned the criminal attacks on religious sites in Britain.
It firmly rejected “acts of terrorism, which constitute a flagrant violation of the sanctity of houses of worship”.
“Attacking places of worship is a form of terrorism and extremism that threatens peace and stability within societies,” it said.
The council also warned against the rise of hate speech, racism, extremism and Islamophobia. It urged the international community to join efforts to promote tolerance and peaceful coexistence.
Reputation
Taylor Swift
(Big Machine Records)
What sanctions would be reimposed?
Under ‘snapback’, measures imposed on Iran by the UN Security Council in six resolutions would be restored, including:
- An arms embargo
- A ban on uranium enrichment and reprocessing
- A ban on launches and other activities with ballistic missiles capable of delivering nuclear weapons, as well as ballistic missile technology transfer and technical assistance
- A targeted global asset freeze and travel ban on Iranian individuals and entities
- Authorisation for countries to inspect Iran Air Cargo and Islamic Republic of Iran Shipping Lines cargoes for banned goods
Three trading apps to try
Sharad Nair recommends three investment apps for UAE residents:
- For beginners or people who want to start investing with limited capital, Mr Nair suggests eToro. “The low fees and low minimum balance requirements make the platform more accessible,” he says. “The user interface is straightforward to understand and operate, while its social element may help ease beginners into the idea of investing money by looking to a virtual community.”
- If you’re an experienced investor, and have $10,000 or more to invest, consider Saxo Bank. “Saxo Bank offers a more comprehensive trading platform with advanced features and insight for more experienced users. It offers a more personalised approach to opening and operating an account on their platform,” he says.
- Finally, StashAway could work for those who want a hands-off approach to their investing. “It removes one of the biggest challenges for novice traders: picking the securities in their portfolio,” Mr Nair says. “A goal-based approach or view towards investing can help motivate residents who may usually shy away from investment platforms.”
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
TOURNAMENT INFO
Women’s World Twenty20 Qualifier
Jul 3- 14, in the Netherlands
The top two teams will qualify to play at the World T20 in the West Indies in November
UAE squad
Humaira Tasneem (captain), Chamani Seneviratne, Subha Srinivasan, Neha Sharma, Kavisha Kumari, Judit Cleetus, Chaya Mughal, Roopa Nagraj, Heena Hotchandani, Namita D’Souza, Ishani Senevirathne, Esha Oza, Nisha Ali, Udeni Kuruppuarachchi
War 2
Director: Ayan Mukerji
Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5
How to help
Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200
THE SPECS
Engine: 1.6-litre turbo
Transmission: six-speed automatic
Power: 165hp
Torque: 240Nm
Price: From Dh89,000 (Enjoy), Dh99,900 (Innovation)
On sale: Now
Engine: 3.5-litre V6
Transmission: eight-speed automatic
Power: 290hp
Torque: 340Nm
Price: Dh155,800
On sale: now
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
THE SPECS
Engine: 1.5-litre, four-cylinder turbo
Transmission: seven-speed dual clutch automatic
Power: 169bhp
Torque: 250Nm
Price: Dh54,500
On sale: now
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
