The Benefits and Drawbacks of the UAE Golden Visa for Long-term Expats
The Emirates is famous for the world’s tallest buildings and oil tycoons. But it is not only these pros that attract tourists and dual citizens here. The development of the economy, industry, and tourism in recent years has contributed to the highest annual per capita income among neighboring states. Many strive to get a “golden pass” to the rich power for these and other reasons. The Emirates is one of the few territories in the world with a promising future and the best quality of life.
Benefits of the UAE Golden Visa for Long-term Expats
The list of UAE Golden visa benefits:
- You do not need to send original documents or visit a consulate to have them processed.
- Submission of documents can be performed online, which will save time.
- You have the right to enter and leave an unlimited number of times during the validity period of the stamp in your passport.
The state provides a high standard of living, modern infrastructure, many international companies for employment, as well as beautiful beaches, luxurious hotels, and numerous attractions to visit in your free time.
The system to obtain UAE golden visa allows foreign nationals to:
- live a long life;
- do business;
- get an education;
- fully own their business inside the state.
This permission was implemented to attract highly qualified specialists, workers, and talents successfully. In this way, it is possible to stimulate the investment environment and promote the development and success of businesses. Unlike other nations with this type of permit, in the Emirates, its presence does not guarantee getting citizenship, only long-term residency. Consider a few more advantages of the Dubai Golden visa and minuses in detail, according to Zlata Erlach (agency Immigrant Invest).
Improved job security and stability
Serious crimes such as murder or rape are infrequent here; most incidents are petty thefts, and even then, – they are committed only in some, not too-rich regions. There are a lot of police officers patrolling the city so that one can walk around at any time of the day or night.
Opportunity to purchase property in the UAE
There is no shortage of office space or housing in the Emirates. In addition, foreigners have had the right to purchase real estate in certain areas and take full ownership rights: to rent, resell, and bequeath it to their heirs.
Ability to sponsor family members for residency in the UAE
The investor can take his children, elderly relatives, spouse, parents, brothers, and sisters. They and the principal applicant must provide all documents confirming the absence of serious life-threatening diseases and their reliability, lack of a criminal record, etc.
Access to healthcare and other benefits
Exclusive health care packages: It has been announced that foreigners are entitled to free health care and insurance.
Drawbacks of the UAE Golden Visa for Long-term Expats
Despite the attractive benefits, there are also some disadvantages that a resident should consider:
- High cost.
- Limited Rights.
- Difficulties with moving.
There is also a limit on the number of visas issued, which may make it inaccessible to most emigrants.
High cost of living in the UAE
It is expensive to live in the UAE because of the local population’s high level of economic development and income. In addition, many goods and services, such as imported food, electronics, and cars, are more expensive due to high customs duties and taxes.
Limited job opportunities in certain sectors
There are several reasons why it is difficult to get a job:
- competition for vacancies;
- the need for a work permit from the employer;
- High qualifications and experience requirements can make it challenging to find work for those just starting their careers.
At certain times of the year, it can be challenging to find work because there are so many seasonal jobs.
Cultural differences and potential language barriers
The language barrier, unfortunately, can be a significant obstacle at first. Although English is widely spoken in the UAE, knowledge of Arabic will be advantageous in job hunting and day-to-day communication.
Uncertainty surrounding the visa renewal process
So far, the government has not yet approved the possibility of extending the visa or citizenship as a result of long-term residence. Therefore, this issue remains open and uncertain.
Thus, against the background of considerable Dubai Golden Visa benefits, the prosperous area of the world still has cons. So it is available only to privileged individuals – talented people, investors, professors, doctors, etc. It should be noted that, despite the lack of chance to formalize the political and legal ties to the region, you will have almost all the rights of citizens and receive UAE residency by investment benefits.
If you turn to professionals in this matter, you can be 100% sure of an excellent result. Experienced employees know all the details and pitfalls that may arise at each stage of paperwork, which allows you to resolve the issue in the shortest possible time.