Lifetime UAE Golden Visa Now Accessible Through Nomination
The UAE launches a nomination-based lifelong Golden Visa, allowing Indians to apply for residency without investing large amounts in property or business. Over 5,000 applications are expected in the initial phase targeting India and Bangladesh. The initiative reflects strong UAE-India ties post-CEPA agreement.
- Country:
- United Arab Emirates
The United Arab Emirates has introduced a groundbreaking adaptation to its Golden Visa scheme, setting a precedent through nomination-based applications. This initiative allows individuals, particularly from India, to secure a lifetime Golden Visa after a nominal payment of AED 100,000, roughly INR 23.3 lakh.
This novel approach diverges from previous requirements, which mandated investment in property or business within the UAE. Instead, applicants will undergo stringent assessments, including checks on anti-money laundering compliance and criminal background as well as their potential contributions to various sectors such as culture, finance, and trade.
The rollout, initially available to Indian and Bangladeshi nationals, symbolizes deepening economic and geopolitical collaborations between India and the UAE, bolstered by the Comprehensive Economic Partnership Agreement (CEPA). RayadGroup, overseeing the process, will partner with UAE authorities to finalize the nominations, underscoring this pilot's strategic and cultural significance.
(With inputs from agencies.)
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