UAE Govt Clarifies Golden Visa Policy, Rejects 'Lifetime Visa for ₹23 Lakh' Rumours

UAE’s government rejected the claims made in certain national and international media outlets that it is granting lifetime Golden Visas to certain nationalities, including India. The Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) of the UAE government, in a clarification on Wednesday, said these claims have no “legal basis and were made without coordination” with the relevant government body. 

“The ICP has denied the accuracy of rumours circulated by some local and international media outlets and websites regarding the UAE granting lifetime Golden Visas to certain nationalities,” the Emirates News Agency Wam reported on July 9.

What’s Behind the Claims? 

The rumours surfaced after multiple media organisations reported that a UAE-based consultancy firm, Rayad Group newly launched advisory programme will help individuals with certain nationalities to avail golden visas at a significantly lower financial investment. The reports suggested that the Rayad Kamal Ayub-led group will help nationals from India and Bangladesh to avail the new kind of nomination-based visa at a mere ₹23 lakh compared to the previous ₹4 crore.The UAE government body also stated that legal action will be initiated against those involved in spreading false information. 

“All Golden Visa applications are handled exclusively through official government channels within the UAE, and that no internal or external consultancy entity is recognised as an authorised party in the application process,” said ICP, according to WAM. 

What are golden visas? 

Availing a visa for a country is a long and tedious process with multiple requirements, including minimum educational qualification and/or an offer letter from a company to work, that need to be satisfied. A golden visa helps in bypassing these requirements and instead requires one to pay a significant sum of money to the host country. The sum of money can be in the form of investments in government bonds, real estate, and more. 

The golden visa offered by the UAE government is a long-term residence visa for foreigners eyeing to live, work or study in the country, including investors, entrepreneurs, scientists, students and graduates and pioneers for humanitarian causes.