When it comes to living and working in Dubai, Abu Dhabi, and other areas within the UAE, it’s not just as simple as applying, packing up, and moving, many factors need to be in place to ensure that you bring benefits to the UAE economy.
One such factor ensuring this is the Golden Visa. The below guide will help you understand what the Golden Visa is, why you need one to live and work in the UAE, and also the medical insurance requirements needed to get one.
What is a Golden Visa in the UAE?
The Golden Visa, or Golden Residence Permit is a long-term residence visa option, enabling foreign nationals to live, work and study in the UAE without the need for a national sponsor.
It was a program created to attract foreign nationals, outstanding students, and investors who could bring various backgrounds and skills to the economy, by providing them access to a wide range of benefits tailored to their contributions and achievements.
For up to 10 years, the Golden Visa permits the holder to reside in the UAE with access to healthcare benefits for themselves and their families. Also, if your business is on the UAE’s mainland you can retain 100% ownership.
Key Benefits of the Golden Visa
Usual residency requirements ask for a local sponsor, however, a Golden Visa allows professionals the ability to explore opportunities in the UAE’s dynamic market, other benefits of holding a Golden Visa are:
- The option to stay outside of the UAE for more than 6 months is permitted by the usual residency visa, diminishing the worry of their visa expiring.
- Ability to sponsor their family members and dependents irrespective of age, including as many domestic aides as they wish.
- Golden visas are long-term permits of up to 10 years, unlike standard residency visas which need to be renewed every 2 years.
- In the unfortunate incident of the Golden Visa holder passing away, their family members are still permitted to stay in the UAE until the date of the visa’s expiry.
Eligibility.
To obtain a golden visa you need to hit certain criteria set out by the UAE government, including fields specified by the UAE government in which you are skilled, including investors in real estate, entrepreneurs, executive directors and founders, athletes, inventors, and researchers, scientists, doctors, frontline medical workers, citizens involved in humanitarian aid and much more.
Recent changes mean more people are eligible to apply for the UAE Residence and Entry scheme. Golden Visa Insurance is available for Golden Visa applicants and their dependents who do not have existing medical insurance coverage.
Application Process.
Once you have checked your eligibility and understood whether you can live and work in the UAE, you must then submit personal information, relevant documents, and application fees through the official ICP website.
Golden Visa Insurance: Medical Insurance Requirements with the UAE
By law, you must hold medical insurance to live in UAE, but as a golden visa holder, you must provide insurance for your dependents as well. The UAE states in their medical insurance law that Golden Visa holders must:
- Provide medical insurance coverage for all persons their visa sponsors, if their medical insurance is not covered by their employer.
- Bear the cost of any medical insurance coverage expenses and not their beneficiaries, including medical expenses in case of emergencies if those under their sponsor do not have valid insurance coverage.
- Ensure that the medical insurance coverage is effective until the end of their permit duration for the sponsored persons.
- Provide a medical insurance policy and insurance card upon issuance of the residence visa of the sponsored persons.
Golden Visa Insurance from IAE Insure
Golden Visa holders in the UAE are entitled to extra benefits, coverage, and competitive prices with their medical insurance plans for themselves and their family members. Comprehensive coverage is best suited for Golden Visa holders as they are likely to range outside of the UAE for longer periods and enhanced plans that cover optical and dental treatment, out-patient benefits, and global coverage are ideal.
IAE Insure: Golden Visa Insurance and Medical Insurance in the UAE
As a leading medical insurance specialist with over 20 years of standing in the UAE, we offer a wide range of options to meet all your medical insurance needs and to ensure the criteria to fulfil medical insurance requirements in the UAE are met.
IAE Insure provides insurance for UAE golden visa applicants who require medical insurance coverage and has worked with many UAE residents and expats to ensure they have the right level of coverage to access all healthcare services as and when required.
If you would like to speak to us about Golden Visa Medical Insurance, contact us today.
