Published
March 22, 2024
Category
Residency by investment programs

Benefits of United Arab Emirates Golden Visa

In recent years, the United Arab Emirates (UAE) has emerged as a global hub for business, innovation, and luxury living. One of the instrumental initiatives that have moved the UAE onto the international stage is the introduction of the Golden Visa program. The UAE Golden Visa program is a desired and exclusive opportunity that grants individuals and their families the privilege of obtaining long-term residency in this dynamic and thriving nation.

The benefits of obtaining a Golden Visa in UAE are a lot and investors are fortunate enough to be able to take part and secure residency through the UAE Golden Visa program. From financial and tax advantages to a comprehensive overview of the real estate market, and a heightened quality of life, the UAE Golden Visa represents a freeway to a new world of possibilities. The UAE, a nation renowned for its visionary leadership, robust economy, and cosmopolitan lifestyle, has truly rolled out the golden carpet to attract global talent and investors. Let's explore the various dimensions of this extraordinary opportunity and understand why it has garnered so much attention and acclaim.

What Are The Benefits of Obtaining UAE Residency by Investment 

The United Arab Emirates Golden Visa program offers a plethora of enticing perks to individuals who are fortunate enough to get a long term residency through investment. The appeal of residing in one of the world's wealthiest countries is only the tip of the iceberg, with a slew of benefits that turn the Golden Visa into a golden chance.

Living in One of the Wealthiest Countries in the World   

The United Arab Emirates is known for its booming economy and luxurious lifestyle, making it one of the richest countries in the world. If you get a Golden Visa, you and your family can take advantage of the country's success and live in luxury, convenience, and financial stability.

Possibility to Renew Golden Visa after Expiration:

Unlike many residency programs, the Golden Visa in the UAE offers the invaluable option of renewal, allowing individuals to extend their residency and continue enjoying the program's benefits.

No Further Sponsorship Required 

No need to worry about sponsorship - Golden Visa holders don't have to be tied to a sponsor, so they can pursue their careers, start their own businesses, and make their own decisions without any strings attached.

Access to Quality Healthcare

The UAE is a global medical tourism hub, offering world-class healthcare facilities and services. Golden Visa holders benefit from easy access to top-notch medical care, ensuring their health and well-being is well-catered for.

No Residency Requirements

Unlike many other residency programs, the UAE Golden Visa does not mandate individuals to maintain a physical presence in the country for the whole year, making it a flexible choice for those with international commitments.

Tax Benefits

One of the most enticing features of the Golden Visa program is the significant tax benefits it offers. The UAE has no personal income tax, making it a tax haven for individuals looking to maximize their income and wealth. Additionally, the UAE provides various other tax benefits for its residents.

Business Environment

The UAE boasts a business-friendly environment with transparent regulations and a robust economy. Golden Visa holders can fully engage in the country's vibrant business landscape, from launching startups to investing in well-established enterprises, with ease and confidence.

Financial Benefits

In addition to the absence of personal income tax, Golden Visa holders can also explore various financial and investment opportunities that can further enhance their wealth and financial security.

Essad Privilege Card

The esteemed Essad Privilege Card is an exclusive offering to Golden Visa holders, affording them access to a range of additional privileges and services that cater to their specific needs and desires.

Financial and Tax Benefits For UAE Golden Visa 

The United Arab Emirates (UAE) has long been celebrated for its attractive tax environment, and the Golden Visa program enhances this appeal by offering an array of financial and tax benefits to its fortunate holders. As of June 1, 2023, the introduction of UAE Federal Decree-Law No. 47 of 2022 on taxation of corporations and businesses (the "Corporate Tax Law") has ushered in significant changes in the UAE's tax landscape.

Small Business Relief

The establishment of tax relief for small enterprises is one of the most prominent elements of the Corporate Tax Law. If the revenue for the relevant and previous tax periods does not exceed AED 3 million during each relevant tax year, a tax resident person may elect to be considered as not having generated any taxable income. This liberal level is intended to reduce the tax burden on smaller businesses, fostering entrepreneurship and growth in the UAE.

Taxation in Free Zones

Companies and branches registered in a Free Zone are also subject to the UAE Corporate Tax Law and must comply with regular compliance duties, such as transfer pricing rules. There is one notable exception that may benefit Golden Visa holders who opt to establish enterprises in Free Zones. If a Free Zone firm meets the requirements for recognition as a Qualifying Free Zone Person (QFZP), it becomes eligible for a 0% UAE corporation tax rate on qualifying income. This incentive increases the attractiveness of Free Zones to enterprises and entrepreneurs looking to operate in the UAE.

Corporate Tax Rates for Businesses

The UAE Corporate Tax Law requires enterprises with more than AED 3 million in income to pay corporate tax at the relevant rates specified in the law. These rates will be in effect beginning June 1, 2023, signaling a dramatic shift in the UAE's approach to corporate taxation.

UAE Real Estate Market Overview

Buying a house in the UAE is one of the most important decisions you'll make in your financial life, and the UAE is a great place to do it if you want to make sure your future is secure. Here's why it's a smart move.

Rising Market Value

The UAE's real estate sector has been on an upward trend, with a market value of US$0.69 trillion expected in 2023. Residential real estate, in particular, leads this thriving market, with an estimated US$0.39 trillion in 2023. These figures demonstrate not only the market's solid health but also its resilience and capacity for expansion. Projections show a 3.00% annual growth rate from 2023 to 2028, with a market volume of US$0.80 trillion by the latter year. 

Global Standing

It's no secret that the real estate market in the UAE is one of the most prosperous in the world. It's no secret that most of the value of real estate in the UAE will come from China, where it's expected to be worth a whopping $131.20 billion in 2023. That's why the UAE is so popular as a place to invest in real estate.

Affordable Luxury

Dubai has solidified its position as a global destination for premium residential homes. Buyers may obtain around 1,130 square feet of excellent residential space in Dubai for less than $1 million, which is three times more generous than offerings in places like London, New York, or Singapore. This affordability is enticing for those looking for sumptuous living without the expensive price tag. As a result of the great real estate offers in Dubai, demand has risen among rich individuals who realize the value and luxury that Dubai affords.

Dubai's Exceptional Performance

Dubai's residential real estate sector, located in the heart of the UAE, has experienced tremendous expansion. Dubai's residential market experienced a strong increase in both sales volume and value in Q2 2023. During this time, almost 30,000 property transactions were registered, with a total sales value exceeding AED 91 billion. In comparison to Q2 2022, this record-breaking performance saw a 35% increase in transactions and a remarkable 54% increase in sales value. Dubai's real estate market is obviously on the rise, with lucrative rewards for astute investors.

UAE 10 Years Golden Visa Costs and Investment Options

For those with an eye on a decade of stability and opportunity in the United Arab Emirates (UAE), the 10-year Golden Visa is an attractive proposition. This visa is a pathway to a long-term stay as well as a symbol of commitment and investment in the nation. 

Real Estate Investment Option

If you want to get the UAE Golden Visa, one of the best ways to do it is by investing in real estate. By putting at least AED 2,000,000 (about $545,000) into a property, you'll not only have a place to live, but you'll also have the chance to stay in the Emirates for 10 years. This means that your connections to the UAE won't just be for a short time, but will be long-term, giving you peace and stability in this vibrant country.

Additional Costs

To complete the process and acquire your 10-Year Golden Visa, there are additional costs to consider

State Fees for the Visa: AED 3,860 per person (approximately USD 1,050) – These fees are essential for the issuance of the Golden Visa and the associated paperwork.

Registration Fee: AED 160,000, or around USD 21,800, is the registration price that needs to be paid to fulfill your ambition. Please take note that the 160k AED total in registration and transfer costs for the property is part of the real estate cost and has nothing to do with the Golden Visa.

Quality of Life

Quality of Life in the UAE: A Vision of Luxury and Comfort

The United Arab Emirates is not only a land of towering skyscrapers, vibrant cityscapes, and dazzling desserts but also a place where quality of life takes center stage. Obtaining a long-term residency has to come with many benefits that your home country cannot provide. The UAE offers a lifestyle that is a combination of luxury and comfort, making it a destination of choice for those seeking a life filled with opportunities.

Safety and Security

One of the most compelling aspects of life in the UAE is the sense of safety and security. The UAE is one of the safest countries in the world, so you can go about your day without worrying about anything. Whether you're in a busy city or just hanging out in your neighborhood, you can rest assured that you're in good hands.

Cosmopolitan Society

The UAE is full of different cultures and different nationalities, so it's no surprise that it's a cosmopolitan place. People here are really warm and welcoming, so it's easy for new people to settle in and become part of the community. People don't just accept diversity, they embrace it - it's a chance to explore different cultures, have different traditions, and eat different kinds of food.

World-Class Healthcare

Quality healthcare is a fundamental component of a high-quality life, and the UAE excels in this regard. The nation is home to some of the world's most advanced medical facilities, attracting individuals from around the globe for both medical treatment and wellness services. The UAE's investment in healthcare infrastructure and technology ensures that residents have access to top-tier medical care, providing peace of mind for them and their families.

Education Excellence

The UAE is a hub for education, with an array of international schools and universities offering world-class programs. For families with children, this ensures that access to quality education is readily available. The commitment to education is not just about knowledge but also about nurturing the next generation of global leaders.

Economic and Business Prosperity

The UAE is a great place to live and work, with plenty of chances to make money and develop your career. It's a great place to start a business, and it's attracting people from all over the world. So if you're looking for a way to make a good living, the UAE is the place to be.

Sustainable Living

In recent years, the UAE has demonstrated its commitment to sustainable living and environmental conservation. The introduction of eco-friendly initiatives and the promotion of green practices not only contribute to a better quality of life but also create a healthier and more sustainable future.

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