If you want to settle in United Arab Emirates (UAE) then there is very good news for you. The UAE has introduced the Golden Visa program. People living in India can apply for this. In this program only you have to pay a fee. Then you will get the Lifetime Residency of UAE. This news is good news for people planning to settle in cities like Dubai. Till now it was the way for Indian people to settle in UAE. However, its fees are very high. The fee for the gold visa program is just Rs 23.30 lakh.
Currently, one has to invest 4.7 crore to live in UAE
If a person living in India wants to settle in UAE under the Renewable Residency Visa program of UAE, he has to invest around Rs 4.7 crore. This visa has to be renewed every 10 years. It is worth noting that rich people from many countries in the world want to settle in Dubai and other cities of UAE. Last year, around 6,700 people showed interest in settling in UAE. After this, about 3,800 people applied to settle the US.
Nomination -based visa program fees low
Now the UAE government has introduced a nomination -based Golden Wee program. This is an alternative to the renewable visa program. Under the renewable visa program, a lot of money has to be invested in the property or business in the UAE. In the Golden Visa program, a person can gain the right to live in the UAE without big investment. It is believed that a large number of foreigners can show interest in this program.
There are many benefits of living in UAE
There are many benefits of living in UAE. The biggest advantage is that you will not have to pay any tax on staying there. It is a matter of great relief for the rich Indian people who have to pay more than 30 percent tax on their income in India. Income tax does not have to be paid in UAE. There is no tax on the capital gains either. This means that if you work in UAE or do business, then all the money you earn, that entire money comes in your bank account.
You can apply while living in India
The best thing is that you do not need to go to UAE to take advantage of UAE’s Golden Visa program. You can apply for this while living in India. However, its government (India) is needed. This is a nomination visa program, which means that a person has to tell about his achievements in his profession in India. The profession consists of fields such as medicine, sid, technology, art, trade or business.