The UAE is not issuing golden visas to cryptocurrency investors despite claims to the contrary on social media, authorities said.
A claim from a blockchain technology company circulated on various social media platforms had suggested crypto investors had the exclusive opportunity to secure a golden visa after paying a one-time fee.
But the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA) and the Virtual Assets Regulatory Authority (Vara) issued a joint statement on Sunday to clarify that was not the case.
The ICP said golden visas were only issued according to officially approved frameworks and criteria, which do not include digital currency investors. Eligible categories include real estate investors, entrepreneurs, exceptional talents, scientists and specialists, top students and graduates, humanitarian pioneers and frontline workers.
The SCA, meanwhile, highlighted its commitment to internationally recognised standards in regulating the financial sector and securities services in the Emirates. Digital currency investments in the UAE are governed by specific regulations and are unrelated to golden visa eligibility, the authority added.
Vara also urged investors and consumers to deal only with fully licensed and regulated companies in any engagement with virtual assets.
The three authorities collectively urged the public and investors to exercise caution and refer to official government websites and approved communication channels for accurate information.
What are the benefits of a golden visa?
- Multiple entry into the UAE, with no restrictions on travelling in and out of the country.
- Golden visa holders do not need a local sponsor, which gives them more autonomy.
- Visa holders and their dependents can work, live and study in the UAE and have access to the country’s government and private sector services.
- The visa also covers spouses, children and parents to enjoy the same benefits as the primary visa-holder.
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