Explore Business Standard
Associate Sponsors
The United Arab Emirates government has started a new type of Golden Visa, which will be based on nomination, albeit with some conditions, unlike the current practice of investing large amounts in either property or business here. Until now, one of the ways to get Dubai's Golden Visa from India was to invest in property whose value should be at least AED Two Million (Rs 4.66 crore), or invest a large amount in business in the country. Under the new nomination-based visa policy, Indians can now enjoy the UAE's Golden Visa for life by paying a fee of AED 1,00,000 (INR around 23.30 lakh), beneficiaries and people involved in the process have told PTI. Over 5,000 Indians will apply for this nomination-based visa in three months, they said. India and Bangladesh have been selected for the first phase of testing this visa, and a consultancy named Rayad Group has been chosen to test the initial form of the nomination-based golden visa in India. Rayad Kamal Ayub, Managing Director of Rayad