Big Relief for Indians: UAE Launches Affordable Golden Visa Scheme
Dubai (The Uttam Hindu): The United Arab Emirates (UAE) has made a historic change in its visa policy, making it easier and cheaper for Indians to get the coveted 'Golden Visa'. The UAE government has introduced a new nomination-based golden visa process, removing heavy investment conditions, which will directly benefit Indian professionals and investors.
The condition of investing crores is abolished
Till now, Indians had to invest a large amount in property or business in the UAE to get Dubai's 10-year Golden Visa. For this, one had to buy property worth at least 2 million dirhams (about Rs 4.66 crore) or take a large stake in a local business. But under the new nomination-based policy, eligible Indians can now get this lifetime visa by paying a fee of about Rs 23.30 lakh.
India got a chance in the first phase
. India and Bangladesh have been selected for the first phase of testing this new visa policy. It is estimated that more than 5,000 Indians may apply for visa under this new system in the next three months. A consultancy named 'Raid Group' has been authorized to conduct this process in India.
What is the application process?
Raed Kamal Ayub, Managing Director of Raed Group, has called it a golden opportunity for Indians. He said that under the application process, the applicant's background will be thoroughly investigated. This will include money laundering and criminal record checks as well as analysis of their social media profiles.
The aim of the investigation is to ascertain how the applicant can contribute to the UAE's economy and business activities through culture, finance, trade, science, start-ups or other professional services. The most special thing about this new system is that interested applicants can get pre-approval for visa from their country itself, without traveling to Dubai.