Golden Visa: Focus now on applicants' value to economy not just wealth

The UAE has expanded the scope of its highly popular Golden Visa programme, shifting the focus from solely attracting foreign investments and wealth to fostering long-term value creation in the economy.

- Waheed Abbas

Entrepreneurs, tech founders, and investors are now being evaluated not only on the size of their investments but on the overall impact they can bring to the local ecosystem, according to Gaurav Keswani, founder and managing director of JSB, a Dubai-based advisory firm specialising in company formation and visa services.

"After Covid-19, the government's primary goal was to attract capital into the country. That's why, during the initial wave in 2022-23, many of the Golden Visa recipients were real estate investors," Keswani told Khaleej Times.

"However, from 2023-24 onwards, we entered the second phase of the programme. The government empowered multiple departments including the Ministry of Culture, Ministry of Sports, and Abu Dhabi Residents Office - to scout globally for individuals who could make the UAE their second home and add meaningful value to the economy."