Like permanent residency, Dubai offers a long-term residency visa that you can renew every five years or ten years. Under this new system implemented in 2019, you can live in Dubai without a local sponsor. You can also obtain full foreign ownership in a company you established in the Emirate. It is a Golden Visa offered by the UAE to attract investors, talents, and entrepreneurs. There are multiple benefits you can enjoy under this new visa scheme. Here are some of the following: Live long-term in the UAE without the hassle of renewing your Visa frequently. Upon expiration, you can automatically renew the Visa. Build a better future in Dubai, given the security you can get from the Golden Visa. Live, work and study in Dubai for an extended time. Full ownership of your business or investment in the Mainland To qualify for a Golden Visa as a foreign investor, you have to meet certain requirements. Initially, You must have a public investment amounting to US$2.7M. A big percentage (60%) of this investment should be under real estate. You should also retain this investment for three years in the UAE. There are also specific conditions for individuals with specialized talents. You can be an individual with specialized talent if you fall under the fields of arts and sciences. Doctors, scientists, investors, and creatives are eligible to apply for a Golden Visa. Meeting specific conditions is crucial to be able to secure the Visa. Accreditation from the Emirates Scientists Council is important for scientists. Creative talents should also get accreditation from the Ministry of Culture and Youth. Once you qualify for the Golden Visa, you can visit its respective website and apply for a nomination. The UAE Authorities will assess your application within a month. You can wait for an email approving your Visa, which will also ask you to submit valid documents. Upon verification of the application, you can now have a Golden Visa. You need to pay US$700 for a ten-year visa and US$350 for a five-year golden visa for the visa processing. The fee already includes the processing and issuance of the said Visa.