Unlike the current five- to ten-year residency policy, the nomination-based scheme grants recipients lifetime residency in the UAE. Here’s what you should know.
The UAE government has launched a trial nomination-based Golden Visa program for Indian and Bangladeshi residents aiming for lifelong residency, according to PTI.
Sources told PTI that under the proposed scheme, Indian applicants can obtain a lifetime Golden Visa by paying a fee of AED 100,000 (approximately ₹23.3 lakh), eliminating the current need to invest in property or business in the UAE.
So, what is the Golden Visa, and how does the nomination process change things? Here’s what you need to know.
What are Golden Visas?
Typically, individuals wishing to move abroad must meet eligibility requirements such as educational qualifications or secure a job offer from an employer in the destination country — a process that can be lengthy and complex.
Golden visas offer an alternative route by allowing individuals to gain residency by making substantial financial contributions to the host country. These contributions can take the form of investments in government bonds, real estate, or other approved avenues.
Some countries go a step further by offering ‘golden passports’, which grant full citizenship through investment.
What is the UAE’s Golden Visa Scheme?
According to the UAE’s Federal Authority for Identity, Citizenship, Customs & Port Security, the Golden Visa allows foreigners to live, work, and study in the UAE without needing a local sponsor. This long-term residency is usually granted for five to ten years and is renewable.
The visa aims to attract skilled professionals, investors, and exceptional talents, contributing to the UAE’s economic development. It is open to two main groups:
- Investors and Entrepreneurs
- Those investing at least AED 2 million (approx. ₹4.67 crore) in business or real estate.
- Entrepreneurs launching ventures worth at least AED 500,000 (approx. ₹1.17 crore).
- Individuals with Exceptional Talent
- Distinguished professionals across fields like medicine, science, arts, sports, and academia.
- Executive directors and doctorate holders in priority scientific fields.
- Outstanding students from high schools or universities.
What’s New About the Nomination-Based Golden Visa Policy?
As per a PTI report, the UAE has introduced a pilot nomination-based Golden Visa program targeted at Indian and Bangladeshi nationals seeking permanent residency. Under this scheme:
- Indians can receive lifetime residency by paying AED 100,000 (around ₹23.3 lakh).
- Unlike previous requirements, no investment in property or business is needed.
- The program moves beyond the current 5–10 year validity and offers lifetime residency.
- For instance, real estate investors previously held visas tied to the lifespan of their projects. This new model removes such limitations.
The pilot project is being managed by Rayad Group, whose Managing Director Rayad Kamal Ayub explained that the nomination process includes a thorough background check — covering criminal history, financial integrity (anti-money laundering), and social media behavior.
The government will make the final decision based on the application and review.
Notably, applicants do not need to visit Dubai to apply. They can obtain pre-approval in their home countries and apply via OneVASCO centres in India and Bangladesh.
Kamal added that once approved, visa holders can:
- Bring their family members to the UAE.
- Employ domestic staff.
- Engage in any business or professional activity.
Why is This Scheme Significant?
India being chosen as the first beneficiary of this scheme highlights the growing strategic, business, and cultural ties between India and the UAE. These relations have strengthened further following the Comprehensive Economic Partnership Agreement (CEPA), which came into effect in May 2022.
The nomination-based Golden Visa is expected to expand to other CEPA countries, including China, after this initial rollout.
These types of visa schemes can bring mutual benefits — generating revenue for host countries and offering new opportunities for investors and professionals. For example:
- Saint Kitts and Nevis launched a citizenship-by-investment program in 1984 to revive its sugar-dependent economy.
- Portugal introduced similar measures following the 2008–09 financial crisis and European debt crisis in 2012.
Concerns and Controversies
Despite potential benefits, these programs have faced criticism and scrutiny for risks related to:
- Security
- Money laundering
- Tax evasion
- Corruption
A 2019 European Commission report flagged that such schemes could be exploited by individuals seeking to escape legal consequences in their home countries or hide illicit assets.
Prominent examples include:
- Mehul Choksi, involved in India’s ₹13,000 crore banking scam, who acquired Antiguan citizenship via such a program.
- Nirav Modi, also accused in the PNB fraud case, reportedly used a UK investor visa route.
Due to these risks, several countries have reconsidered or scaled back their programs:
- The UK abolished its Tier 1 investor visa in 2022.
- Ireland, Greece, and Malta have restricted similar schemes, citing housing shortages and rising real estate prices.
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