From Shah Rukh Khan to Sania Mirza, the world's biggest stars and celebrities share more than just fame—they possess a golden ticket to global opportunity: the 'Golden Visa'.
But what sets it apart?
Samina Nalwala explains.
For the latest news and updates, visit: ndtvprofit.com
But what sets it apart?
Samina Nalwala explains.
For the latest news and updates, visit: ndtvprofit.com
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TVTranscript
00:00 Do you know what Dusharok Khan, Sanjay Dutt, Sanya Mirza and Ranveer Singh have in common?
00:07 Well, of course, they are all mega celebrities but they also have the Golden Visa.
00:12 Unlike the normal visa that acts like a permit to enter and stay in a foreign country for a set period of time,
00:19 the Golden Visa goes a step ahead.
00:22 It helps attain full residence rights or citizenship of a country
00:26 but in exchange for a defined economic contribution.
00:30 Last year, almost 10% of Golden Visa and passport applications came from Indians alone.
00:36 And not only that, as per the GDRFA in Dubai,
00:40 the number of Golden Visas issued in all categories increased from 47,000 in 2021 to almost 80,000 in 2022.
00:50 And now that's a huge jump, isn't it?
00:52 Why the demand, you ask?
00:54 Because apart from residence and citizenship,
00:57 the most important perk of the Golden Visa is that you get to skip the long immigration queue and travel visa-free.
01:04 You also obtain access to better healthcare, business, education, tax incentives and better infrastructure.
01:11 Western countries have been providing Golden Visas to HNIs for a very long period of time
01:16 and the latest addition to the list is Dubai.
01:19 However, hang on, before you get too excited,
01:22 you must keep in mind that the advantages of the Golden Visa are actually different for different countries.
01:27 For starters, the more popular ones such as Portugal, Malta, Greece and Singapore
01:32 provide visa-free access to over 150 countries.
01:36 But for that, you must be willing to shell out half a million to a million dollars,
01:41 which translates to 4 to 8 crore rupees.
01:44 Now in case of Dubai, it issues the Golden Visa but not easily an Emirati passport.
01:50 However, given the aspiration of Indians to live the bling life,
01:54 Dubai's Golden Visa has become more popular in the recent past as compared to Western countries.
02:01 Similarly, Dubai is a widely preferred choice for Indians too.
02:05 We caught up with Mohen Lada, partner at Khaitan & Co and this is what he had to say.
02:10 The proximity of UAE to India and the similarity of cultures
02:15 is one of the reasons why 30% of the expat community is nothing but constituted by Indian residents.
02:22 And therefore, UAE Golden Visa has been very popular amongst Indian individuals.
02:28 The biggest draw really is Indians wanting to own real estate, luxury real estate properties
02:34 which is easily accessible and available and there is a supply and demand of such properties in the UAE.
02:40 And this has been consistent over the last several years.
02:44 So this really gives them a double advantage.
02:48 So now you are wondering how do you get that Golden Visa?
02:51 Well, well, well, if you fulfil all the requirements such as investing or buying a home for about 4.5 crore rupees,
02:57 you could actually get the Dubai Golden Visa in about 5 to 30 days.
03:02 Now which country's Golden Visa are you eyeing?
03:04 Do you want a Schengen one or do you want a Dubai one?
03:07 [Music]