Gulte Movie News And Politics
Taking a cue from US President Donald Trump’s idea of new Golden Visa Card, the United Arab Emirates has introduced a new nomination-based Golden Visa programme. The programme will offer Indian citizens lifetime residency without the requirement of showing huge property business investments, which is a major shift from the existing visa framework. Being implemented as a pilot project, it will be offered to citizens of India and Bangladesh, indicating the country’s closer bilateral ties with the two nations following the Comprehensive Economic Partnership Agreement (CEPA), which came into effect in May 2022.
According to the changed rules, the Indian citizens can secure the UAE’s Golden Visa by investing a minimum of AED 2 million (around 4.66 crore) in property or investing in other businesses. The nomination-based system allows eligible applicants to secure lifetime residency by paying a fee AED 1,00,000 (nearly Rs 23.3 lakh), provided all other checks are approved.
The UAE authorities expect that around 5,000 Indians would apply for the visa within the first three months of its launch.
The Golden Visa process will be handled by Rayad Group in India. Applicants will undergo strict background checks including verification against anti-money laundering databases, criminal records, and review of social media activity. In addition, the applicant’s potential contribution to the UAE in sectors such as culture, science, finance, startups, trade or professional services will be considered.
The new visa provides lifetime residency and includes the right to sponsor family members, domestic workers, and drivers. The nomination-based Golden Visa will remain valid permanently unlike the property-based visa which can become invalid if the property is sold or divided. The programme will be extended to CEPA partner countries including China in the near future.
