
Jakarta, Pintu News – The government of the United Arab Emirates (UAE) recently clarified some policies regarding the granting of Gold Visas, which are long-term visas for investors and talented individuals. However, there is a notable exception for digital currency investors.
Check out the full information in this article!
The Federal Authority for Identity, Citizenship, Customs and Port Security along with the Virtual Assets Regulatory Authority (VARA) and the Securities and Commodities Authority have issued a joint statement confirming that investments in digital currencies are not eligible for a Gold Visa.
ICP emphasizes that the criteria for obtaining a Gold Visa are clearly defined and do not include the cryptocurrency sector. Eligible investments for the Gold Visa include real estate investments, entrepreneurs, exceptional talent, scientists and specialists, top students and graduates, humanitarian pioneers, and frontline workers.
These criteria are designed to attract individuals and investments that can make a significant contribution to the UAE’s economy and society.
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In a recent development, the UAE has introduced a nomination-based Golden Visa scheme that makes it easier for Indian and Bangladeshi nationals to obtain this visa without the need for property or business investment in the UAE.
Indians only need to pay a one-time fee of AED 100,000 for the background check and visa process. Earlier, Indians had to invest a minimum of AED 2 million in property or a large amount in a business in the UAE to qualify for a Gold Visa.
The new scheme is expected to make it easier for Indians who want to work, live and contribute to the UAE economy without having to make large investments.
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Although the UAE is open to various categories of investors and professionals, they have remained consistent in their policy that investments in digital currencies such as Bitcoin , Ethereum , and others will not be considered as eligibility criteria for the Gold Visa.
This demonstrates the UAE government’s cautious approach to regulating the highly volatile and uncertain digital currency sector.
The UAE government through VARA, has strictly regulated the digital currency sector, ensuring that only entities and activities that are truly verified and meet regulatory standards can operate. This is a move to protect the economy as well as investors from unnecessary risks.
This clarification from the UAE government confirms their commitment to transparency and strict regulation in the granting of Gold Visas. While cryptocurrency investors may be disappointed, this move will hopefully maintain the integrity and security of the UAE economy. Meanwhile, Indian citizens now have a greater opportunity to enjoy the benefits of living in the UAE on easier terms.
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