Among foreign investors, the method of obtaining a UAE resident "Golden Visa" through a bank deposit is gaining popularity. To be eligible for a 10-year visa, one needs to open a deposit of at least AED 2 million (USD 545,000) in a local bank for a minimum of two years.
Major financial institutions in the UAE, such as Abu Dhabi Commercial Bank, First Abu Dhabi Bank, RAKBank, Ajman Bank, and Al Maryah Community Bank, offer special programs for foreigners. After opening the appropriate deposit, they send their clients a letter confirming their eligibility for a long-term residence permit.
Wealthy individuals from around the world are increasingly choosing the UAE, especially Dubai, as a place for permanent residence. In 2023 alone, 158,000 people received 10-year visas in Dubai. Investors from the UK, Europe, and India show the greatest interest in the "Golden Visa".
According to the UAE Central Bank data for 2023, in the first quarter of 2024, the growth of deposits in the country's banking system amounted to 15.2% year-on-year. At the same time, the number of retail deposits increased by 15.3%, and private corporate deposits by 24.2%.