The UAE is offering a nomination-based Golden Visa system for Indians, replacing the previous process that required investment of large sums in property or business.
Eligible individuals from select countries — including India — can now obtain a long-term residency by paying a one-time fee of AED 100,000 (approximately INR 23.3 lakh), reported CNBC TV 18.
Under the old system, people needed to invest minimum of AED 2 million (INR 4.66 crore) in real estate or business to qualify for the Golden Visa.
The new system does not require investment in assets. It is based on nomination.
The scheme has now been launched for India and Bangladeshi nationals with Rayad Group selected to manage and process the applications.
Rayad Kamal Ayub, managing director of the group, told CNBC TV 18 that the process includes background checks for criminal history, anti-money laundering violations, and a review of the applicant’s potential contribution to UAE sectors such as culture, finance, startups, trade, science, or professional services.
The visa gained under the new system will not lapse if assets are sold, contrary to the old process.
