In 2024, the UAE made a huge shift to its salary criteria for golden visas.
Previously, it was AED 30,000, including allowances, compensations and other packages. However, a significant change has turned the focus solely on basic salaries. To apply for a UAE golden visa, you must have a basic salary of 30,000 dirhams, which could be 8,200 USD.
So, let’s figure out how this new salary criteria for Golden Visa UAE will impact professionals and whether it is still worth getting.
What is Golden Visa UAE?
A golden visa is the most viable option if you want a long-term residency permit in the UAE.
It helps you avail yourself of multiple benefits, including 5 to 10 years of residency visa, free from sponsor needs, and multiple entry visas. You can also sponsor unlimited domestic workers with a Golden visa.
The sole purpose was to attract individuals, investors and successful professionals to UAE.
New Salary Criteria for Golden Visa UAE:
A significant change in salary criteria for Golden Visa UAE has turned the focus on basic salary.
Firstly, it was AED 30000 but also included compensation and allowances. However, according to the new salary criteria for Golden Visa UAE, it is compulsory to have a basic salary of 30000 dirhams.
This means the allowances given by your employer will no longer be included in your salary. Even if your salary exceeds AED 30,000, including your total compensation, you can still not apply for a golden visa in the UAE.
To secure a golden visa, your basic salary must start from AED 30,000 (excluding compensation).
A real estate investor must invest AED 2 million to be eligible for a golden visa. This range can even go higher depending on the investment channels/options.
If you are an entrepreneur and willing to apply for a golden visa in UAE, you should know that your project value must be more than AED 500,000. Not only this, but it should also be eligible to contribute to the UAE economy.
Public investors may have to present a letter from the Federal Tax Authority. It should be mentioned there that your pay is at least AED 250,000.
However, if you are talented in sports, culture, arts, or any other field, you can apply for a golden visa in the UAE without meeting any requirements. The only thing you need to show is your achievements.
Will the New Salary Criteria Impact Ongoing Applicants?
Yes, if your golden visa application is ongoing, the chances are it might be affected by salary requirement changes.
It doesn’t matter if you have the pre-approval. You could even face hurdles at the final approval.
Meanwhile, if you are an existing golden visa holder looking to renew it, you can also be affected by these new changes if you fail to meet the criteria. It’s because the compensation given by the employer is no longer a part of your salary. However, if your basic salary is Dh 30,000, you can easily renew your golden visa.
Some Other Requirements for Golden Visa UAE:
Apart from the basic salary requirement, there are several other conditions that you must have to meet.
For instance:
- You must have a labour permit or employer contract.
- A bachelor’s degree is also essential to process the golden visa requirements.
- You must have a valid permit if you are a teacher, pharmacist, physician, or any other special role.
- Comprehensive health insurance could also be mandatory.
- An entrepreneur must have to secure approval from the relevant authority.
- Special talents could have seperate requirements to approve a golden visa. For instance, they might have to prove their experience in the relevant field. It could be in the form of a prestigious award or a letter from a relevant authority.
Is the UAE Golden Visa Still a Reliable Option?
Indeed, golden visas have always been a powerful tool for the UAE economy. It helps them to attract new talents and gain more investments. On the contrary, it is equally beneficial for applicants who want long-term residency in the UAE. They can enjoy 5 to 10 years of residency and many other benefits.
However, after this significant change in salary criteria for Golden Visa UAE, you may wonder if it is still a reliable option.
So, it’s a YES. UAE golden visa is still a reliable option to avail.
The recent update shows that the UAE committee is trying to attract the world’s top talent. The new restrictions will help attract only applicants who are willing to contribute to the UAE economy actively.
Meanwhile, you can see these changes as opportunities rather than restrictions. The reduced number of applicants and strict eligibility pool will increase the demand.
Ready to Take Your Step?
In conclusion, the new salary criteria for golden visas in UAE will impact many individuals. However, it could also be a rising opportunity to gain more exposure due to fewer applicants.
So, take your first step towards the golden visa and secure your career now.
