The United Arab Emirates announced a new initiative to expand its prestigious Golden Visa program to yacht owners. This move is part of the country’s ongoing efforts to attract high-net-worth individuals and strengthen its position as a global hub for luxury and innovation.
UAE Will Grant Golden Visas to Yacht Owners
Share:
The new Golden Visa is named the ‘Golden Quay’. It will operate in Abu Dhabi, the capital city of the UAE, as part of the city’s Tourism Strategy 2030. The initiative is expected to draw high-net-worth individuals to invest in and explore Abu Dhabi.
Under this new initiative, yacht owners who meet specific criteria will be eligible for a 10-year long-term residency visa, allowing them to live, work, and invest in the UAE without the need for a local sponsor.
Who is Eligible for the UAE Golden Quay Visa?
According to the initiative’s rules, the following categories of applicants qualify for a Golden Visa:
owners of yachts measuring 40+ metres;
CEOs and major shareholders of yacht-building companies;
central yacht agents;
yacht service providers;
yacht insurance providers.
Main applicants can also extend residency to their immediate family members.
Other Pathways to UAE Residency
Wealthy foreigners can become UAE residents through other pathways, such as by purchasing real estate in the country.
To qualify, applicants can choose one of two available options:
Purchasing real estate for at least AED 2,000,000, or $545,000, — for a 10-year residency visa.
Investing at least AED 750,000, or $204,000, in real estate — for a 2-year residency visa.
The investor obtains residency together with their spouse and children. Applicants must have a legal source of income and pass a medical checkup for socially dangerous diseases.
After obtaining residency, investors can live in the UAE without limits and access banking, healthcare, and educational services in the country.
Download our complete guide to learn everything you need about 9 popular Golden Visa programs.
Benefits
Investment options
Eligibility requirements
Processing times