UAE launches new golden visa: Lifetime residency for Indians with fee of Rs 23 lakh

The United Arab Emirates has introduced a new golden visa system, offering lifetime residency to Indian nationals. Unlike the previous requirement of investing 4.66 crore Indian rupees in real estate or business, the new system requires a fee of about 23 lakh Indian rupees. Applicants will undergo thorough background checks, including criminal records and money laundering compliance. The UAE government will evaluate applicants’ potential contributions to the country’s economy, society, finance, trade, and culture. This move is seen as part of the competition among Gulf nations to attract global talent and investment. The program will initially consider 5,000 applications as part of a pilot scheme.