Indians to get UAE's Golden Visa without trade license, property purchase
Until now, one of the ways to get Dubai's Golden Visa from India was to invest in property whose value should be at least AED Two Million, or invest a large amount in business in the country.
PTI
-
Over 5,000 Indians will apply for this nomination-based visa in three months
Dubai, 6 July
The United Arab
Emirates government has started a new type of Golden Visa, which will be based
on nomination, albeit with some conditions, unlike the current practice of
investing large amounts in either property or business here.
Until now, one of the
ways to get Dubai's Golden Visa from India was to invest in property whose
value should be at least AED Two Million (Rs 4.66 crore), or invest a large
amount in business in the country.
Under the “new
nomination-based visa policy,” Indians can now enjoy the UAE's Golden Visa for
life by paying a fee of AED 1,00,000 (INR around 23.30 lakh), beneficiaries and
people involved in the process have told PTI.
Over 5,000 Indians
will apply for this nomination-based visa in three months, they said.
India and Bangladesh
have been selected for the first phase of testing this visa, and a consultancy
named Rayad Group has been chosen to test the initial form of the
nomination-based golden visa in India.
Rayad Kamal Ayub,
Managing Director of Rayad Group, said this is a golden opportunity for Indians
to get the UAE's Golden Visa.
Whenever an applicant
applies for this Golden Visa, we will first check their background, which will
include anti-money laundering and criminal record checks, as well as their
social media,” said Rayad Kamal.
The background check
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,
Start Up, professional services, etc.
“After this,
RayadGroup will send the application to the government, which will make the final
decision on the nomination-based Golden Visa,” he added.
Applicants seeking
the UAE Golden Visa under the nomination category may obtain pre-approval from
their home country without the need to visit Dubai.
“Applications can be
submitted through One VASCO centres (visa concierge service company) in India
and Bangladesh, our registered offices, our online portal, or our dedicated
call centre,” he added.
After getting the
Golden Visa, one gets the freedom to bring his or her family members to Dubai.
“You can also keep servants and drivers based on this visa. You can do any
business or professional work here,” Rayad Kamal said, adding, 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
initiative and India's selection as the first country for this visa reflect the
strong business, cultural, and geopolitical relations between India and the
UAE, which have become stronger after the Comprehensive Economic Partnership Agreement
(CEPA) between the two countries, effective May 2022.
The Golden Visa
nomination process is an agreement between the UAE and its (Comprehensive
Economic Partnership Agreement) CEPA signatory/partner countries. This is a
pilot project which has started with India and Bangladesh and will soon include
China and other CEPA countries.
RayadGroup and VFS
have been chosen to vet the applicants and then forward them to the UAE
authorities.
Leave a Reply
Your email address will not be published. Required fields are marked *