The United Arab Emirates Golden Visa for Web 3  Entrepreneurs

The United Arab Emirates Golden Visa Program could be a perfect opportunity for Web3 Entrepreneurs to relocate to Dubai and other top locations in the UAE.  The Emirates golden visa grants a 10-year Golden Visa to entrepreneurs in blockchain, fintech, and other key technology sectors. This initiative allows them and their families to live and work in the UAE while enjoying numerous benefits, including, fast-tracked processing, and the ability to sponsor dependents. 

The UAE is known for its supportive environment for innovation and entrepreneurship. As it looks to attract global talent and investment, the country is positioning itself as a leading hub for Web3 development and digital transformation.

Why is the UAE a Good Destination for Web3 Entrepreneurs?

The UAE is an excellent location for entrepreneurs in Web3 due to several key factors:

Supportive Government Policies

The UAE government actively supports blockchain and Web3 development through initiatives like the Dubai Blockchain Strategy and Abu Dhabi’s Hub71. The Government also provides regulatory sandboxes, such as those provided by the Dubai International Financial Centre (DIFC) and Abu Dhabi Global Market (ADGM). These sandboxes allow startups to test and scale their solutions in a controlled environment.

Tax and Business-Friendly Environment

The UAE offers a favorable tax structure, with no corporate or personal income taxes for most businesses.

The UAE also has numerous Free zones, such as Dubai Multi Commodities Centre (DMCC) and Dubai Silicon Oasis (DSO), providing 100% foreign ownership and streamlined business setup processes.

Access to Funding and Investment

The UAE has a thriving venture capital ecosystem, with various investment funds and accelerators focused on tech startups, including Web3 and blockchain projects.

Furthermore, events like GITEX Global and Blockchain Life Dubai attract global investors and industry leaders.

Technological Infrastructure

The UAE has an advanced digital infrastructure, including high-speed internet and 5G networks, essential for Web3 applications.

The UAE is also a global leader when it comes to the implementation of Smart Cities. Smart city initiatives, such as Dubai’s “Smart Dubai” project, integrate blockchain and other emerging technologies.

Thriving Web3 Ecosystem

The UAE is home to a growing number of Web3 startups, blockchain developers, and cryptocurrency exchanges. Initiatives like the Dubai Metaverse Assembly and partnerships with global blockchain organizations provide the UAE’s commitment to being at the forefront of Web3 innovation.

What is the Eligibility for Web3 Entrepreneurs under the UAE Golden Visa?

The UAE Golden Visa program includes specific provisions under the “exceptional talents” category for individuals specializing in digital technology, Web3 and other technical fields. 

The requirements to get golden visa in uae is as follows:

Demonstrated Expertise

Professionals in fields such as artificial intelligence, blockchain, data science, Web3 technologies, and other advanced digital sectors are eligible. Candidates must be able showcase outstanding skills or contributions recognized at the national or global level.

Qualifications and Experience

Applicants typically need a bachelor’s or master’s degree in a relevant field (e.g., computer science, engineering, or technology).

Significant professional experience is required, this will need to be proven through providing evidence of the applicant’s employment history, projects, or patents.

Recognition and Recommendations

Although not mandatory, providing evidence of recommendations from reputable organizations, such as the Mohammed bin Rashid Academy of Scientists, the Emirates Scientists Council, or similar bodies, can significantly enhance the applicant’s eligibility.

Furthermore, if the applicant has been involved in substantial projects or patents that contribute to UAE’s technological and economic development, this could also significantly enhance the applicant’s eligibility.

Proof of Economic Contribution

Applicants in Web3 and digital technology must demonstrate how their work benefits UAE’s economy or aligns with its strategic goals, such as the promotion of innovation and sustainability.

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What is Considered Digital Technology and Web3 Under the UAE Golden Visa?

Under the UAE Golden Visa program, digital technology and Web3 are recognized as highly important sectors for innovation and economic growth. The program aims to attract skilled professionals, entrepreneurs, and researchers in these fields to support the country’s technological ecosystem.

What are the Benefits of the UAE Golden Visa?

The Golden Visa for the UAE offers a wide variety of benefits that will make running and operating a Web 3 business a lot easier. 

• Renewable 10 years visa for UAE
• The visa holder and their families can live and work in the UAE
• Visa-free travel to: Azerbaijan, Georgia, Maldives, Nepal, Sri Lanka, Armenia, Malaysia, Thailand, Seychelles, Jordan, Kuwait, Laos, Macau, Mauritius, Montenegro, Oman, Qatar and Serbia
• Ability to sponsor dependents (spouse, unmarried children and parents)
• Ability to sponsor up to 3 domestic helpers
• Fast processing, pre-approvals within 30 days
• No minimum stay requirement in the UAE
• Minimal documentation required 
• Preliminary approval without the need to travel to the UAE
• Access to health insurance and freelance work permit in Dubai
• Personal UAE bank account 

What is the Application Process for UAE Golden Visa?

Obtaining a UAE Golden Visa involves completing a structured application process that requires careful preparation and attention to detail. While the specific steps may vary slightly depending on the category under which you’re applying, the general process is as follows:

Step 1: Determine Eligibility

Before initiating the application, it’s important to assess your eligibility and make sure you can apply:

• Review the categories and criteria outlined in the previous section.
• Gather preliminary documentation that supports your eligibility claim.

Step 2: Prepare Required Documents

Compile a comprehensive set of documents, which typically include:

• Valid passport with at least six months validity.
• Recent passport-sized photographs.
• Proof of eligibility specific to your category (e.g., investment documents, academic certificates, professional credentials).
• Bank statements or proof of financial solvency.
• Medical fitness certificate from an approved UAE health center.
• Police clearance certificate from your home country and/or country of residence.

Step 3: Submit Initial Application

The first step in the formal process is to submit an initial application:

• This can often be done online through the official UAE government portal or the website of the relevant emirate’s immigration department.
• Fill out the application form with accurate personal and professional information.
• Upload scanned copies of the required documents.
• Pay the initial application fee, which varies depending on the category and emirate.

Step 4: Nomination and Approval

For certain categories, a nomination process is involved:

• Relevant government entities or accredited organizations may need to nominate or endorse your application.
• For example, scientists might require nomination from the Emirates Scientists Council.
• Wait for the initial approval of your nomination or application.

Step 5: Biometrics and Medical Examination

Once your initial application is approved:

• Schedule an appointment for biometric data collection (fingerprints and photographs).
• Undergo a medical examination at an approved health center in the UAE.
• These steps are typically required for new residents or those changing their visa status.

Step 6: Final Submission and Payment

After completing the previous steps:

• Submit the final application along with any additional documents requested.
• Pay the remaining fees for visa issuance.
• Fees can vary based on the visa duration and category.

Step 7: Visa Issuance

Upon successful completion of all steps:

• The immigration authorities will process your application.
• If approved, you’ll receive notification of your Golden Visa issuance.
• Collect your visa stamp or electronic visa, depending on the emirate’s procedures.

Step 8: Emirates ID Application

As a Golden Visa holder, you’ll need to obtain or update your Emirates ID:

• Apply for the Emirates ID through the official channels.
• This ID serves as your official identification within the UAE.

Additional Considerations:

1. Processing Time:
   • The duration is approximately 4-6 weeks, depending on the completeness of your application.
2. Family Applications:
   • If including family members, their applications can be processed after the main applicant received their golden visa.
   • Additional documentation for family members will be required.
3. Renewal Process:
   • Golden Visas are renewable upon expiration.
   • The renewal process typically involves re-verifying eligibility and updating documentation.
4. Professional Assistance:
   • Consider engaging a legal consultant or immigration specialist to guide you through the process.
   • This can be particularly helpful for complex cases or if you’re unfamiliar with UAE procedures.

If you are interested in the UAE Web3 Golden Visa process and would like to clarify the program requirements, please do not hesitate to reach out to our expert team at https://harveylawcorporation.com/contact/. We are here to provide guidance and support every step of the way. 

Founded in 1992, Harvey Law Group (HLG) is a leading multinational law firm with offices across Asia, North and South America, Europe, and Africa to cater to your specific needs for immigration and beyond.

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