Your 10-Year Ticket to Living in the UAE: Everything You Need to Know About the Dubai Golden Visa

Looking for a way to living in the UAE for 10 years or longer? The UAE Golden Visa might just be your golden ticket. In this guide, I’m going to give you the inside scoop on everything—from the incredible tax benefits to the stunning lifestyle—and even share a few insider tips that you won’t find anywhere else. Whether you’re an investor, entrepreneur, or simply someone seeking the good life in the UAE, keep reading because this visa is for you.

Why Dubai Should Be on Your Radar

First off, Dubai offers some serious tax advantages. Imagine: no taxes on income, capital gains, inheritance, gifts, or properties. That’s right—nothing. In fact, the UAE has one of the lowest corporate tax rates globally. For example, countries like Malta and Portugal have corporate tax rates of 35% and 21%, while the UAE remains much more tax-friendly.

But tax isn’t the only reason to make the UAE your new home. The UAE also boasts excellent healthcare facilities, and it’s become a popular destination for medical tourism. You can get top-notch medical care and insurance here, which makes living here even more appealing.

Let’s talk about infrastructure. The UAE’s infrastructure is insane—clean, efficient, and impressive. The metro system is a dream; it’s nicer than anything I’ve seen in major cities like New York. And forget the pricey taxis—if you’re not carrying a ton of luggage, the metro gets you to the airport in a flash.

Dubai Golden Visa: Your Key to Long-Term Residency

Now, here’s where it gets interesting: the UAE Golden Visa. If you’ve ever thought about living in the UAE for a longer period, this visa is your best bet. It offers a 10-year residency with an option to renew it. And here’s the best part: you don’t need to worry about how long you’re away from the country. Unlike other visas that are canceled if you’re out of the country for more than six months, the Golden Visa lets you come and go as you please while enjoying all the perks of residency.

And speaking of perks, holders of the Golden Visa receive an “Assad privilege card” in Dubai. This card gets you up to 70% off everything from medical care and shopping to travel and dining out. Abu Dhabi residents enjoy similar perks, with additional discounts on healthcare, insurance, properties, and even cars.

Do you pay tax in dubai?

The short answer is: generally, no. Dubai, as part of the United Arab Emirates (UAE), is renowned for its tax-free status for individuals. However, the tax landscape has evolved in recent years, particularly for businesses. Let’s break down the current tax situation in Dubai:

Personal Income Tax

Dubai maintains a 0% personal income tax rate (source). This means that individuals, whether UAE nationals or expatriates, do not pay any tax on their personal income, including salaries, investment returns, or rental income. This tax-free environment has been a significant draw for expatriates and continues to be one of Dubai’s most attractive features.

Corporate Tax

While individuals enjoy a tax-free status, businesses in Dubai now face a different scenario:

• A 9% corporate tax was introduced for companies, effective from June 1, 2023.
• This tax applies to taxable profits exceeding AED 375,000.
• Small to medium-sized companies in Free Zones may qualify for 100% tax exemption.
• Multinational corporations with global revenues above AED 3.15 billion are subject to a 15% corporate tax rate.

Other Taxes in Dubai

While Dubai remains largely tax-free, there are a few other taxes to be aware of:

• Value Added Tax (VAT): A 5% VAT is levied on most goods and services1.
• Property Transfer Tax: When purchasing property, there’s typically a 2-4% transfer fee5.
• Tourism Taxes: Various fees apply to the tourism sector.

Tax Exceptions

Some specific sectors face different tax rates:

• Oil companies are taxed at rates between 55% and 85%.
• Foreign banks typically pay a 20% tax rate.

While Dubai remains a tax haven for individuals, recent changes have introduced corporate taxation, aligning the emirate more closely with global financial practices while still maintaining its competitive edge in attracting businesses and talent.

How to Qualify for the Golden Visa in Dubai

There are several ways to qualify for the Golden Visa, depending on your situation. Here are a few options:

1. Investment: If you’ve got the funds, you can invest in the UAE by buying a property worth at least 2 million Dirhams or by making a bank deposit of the same value. But be warned—once you’ve invested, you can’t sell the property without losing the visa.
2. Income: If you earn a monthly salary of at least 50,000 Dirhams outside the UAE, you might qualify for the Golden Visa too. Just provide proof of income and education, and you’re good to go.
3. Entrepreneurship: If you’re an entrepreneur and your startup is valued at 500,000 Dirhams or more, you can qualify. You’ll need proof from an accredited business incubator and Emirates authorities that the project is tech- or future-oriented.
4. Retirees: If you’re over 55 and financially comfortable, the UAE’s retirement program might be for you. You’ll need a pension of at least $4,000 per month, and either a property investment or bank deposit in Dubai worth $275,000.
5. Specialized Talent: Engineers, doctors, investors, artists, and athletes with specialized talent can apply for the Golden Visa with the right documentation, such as a recommendation letter from the relevant ministry and a job contract with a salary of at least 30,000 Dirhams per month.
6. Students: High school students with a GPA of 95% or higher, and university graduates with a GPA of 3.5 or higher from a Top 100 university, are eligible for the Golden Visa as well.

Costs and Considerations

Of course, there are some costs to consider. Application fees can range from AED 3,800 per person, depending on your category. There’s also the medical insurance, which is mandatory for all UAE residents, starting from AED 400 per person. You’ll also need a medical test, which typically costs about AED 100 for the basic option.

The real cost, however, comes in the form of the paperwork. Translating and getting documents certified can set you back up to $1,000, and the process might take up to 7 weeks, depending on your category.

Your Family and the Golden Visa

One of the best things about the Golden Visa is that it extends to your family. You can sponsor your spouse, children (up to 25 if they’re unmarried and dependent on you), and parents. You can even sponsor your household staff, like nannies or housekeepers, with a clean record and no serious health issues.

The Application Process: Step by Step

1. Visit the Government Website: Start by heading over to the UAE’s official government website for Golden Visa applications. This is where you’ll find all the information you need about categories, requirements, and paperwork.
2. Gather Your Documents: You’ll need a range of documents, such as your passport copy, photo, and current visa. Depending on your category, you might also need proof of your property purchase, income, or job contract.
3. Submit Your Application: Once your documents are ready, head to the Customer Happiness Center to submit your application. After that, you’ll make a pit stop at the typing center for document preparation.
4. Medical Exam: Get a medical exam at an approved clinic and wait for your health certificate.
5. Emirates ID: Once everything is in order, you’ll be scheduled for a biometric appointment and receive your Emirates ID.

Is the Golden Visa Right for You?

If you’re ready to take the plunge, the UAE Golden Visa could be your ticket to an amazing lifestyle with benefits that are hard to beat. But the process can be a bit of a hassle if you go it alone. If you’d prefer a smoother experience, consider working with an expert who can help guide you through the process and avoid any costly mistakes.