UAE Authorities Confirm No Golden Visa Eligibility For Digital Currency Investors

The Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA) have collectively refuted claims that the UAE grants golden visas to digital currency investors. These reports have been circulating on various websites and social media platforms.

The ICP clarified that golden visas are issued based on specific, officially approved criteria. These do not include investors in digital currencies. Eligible categories encompass real estate investors, entrepreneurs, exceptional talents, scientists and specialists, top students and graduates, humanitarian pioneers, and frontline workers.

The SCA emphasised its adherence to international standards in regulating the financial sector and securities services within the UAE. It highlighted that its procedures aim to ensure transparency and credibility while enhancing investor confidence both locally and globally. This aligns with the UAE’s strategic objectives of attracting quality capital and fostering a sustainable investment environment.

Digital currency investments are governed by distinct regulations separate from golden visa eligibility. The SCA urged investors to seek information from credible sources to avoid misinformation or fraud.

VARA also denied any claims about issuing golden visas to virtual asset investors in Dubai. It strongly advised investors and consumers to engage only with fully licensed and regulated companies when dealing with virtual assets.

VARA reiterated its commitment to maintaining high standards of risk assurance. It collaborates effectively with the SCA and relevant federal and local law enforcement entities to ensure a secure operational environment prioritising consumer protection at all times.

Consumer Protection Measures

Companies licensed by VARA must comply with visa procedures set by the Government of Dubai and relevant federal authorities. VARA clarified that the company TON is neither licensed nor regulated by them.

The three authorities collectively urged the public and investors to exercise caution. They advised referring to official government websites and approved communication channels for accurate information, warning against unverified advertisements or offers online.

For detailed information on golden visa requirements, individuals are encouraged to visit the ICP’s official website at www.icp.gov.ae.

With inputs from WAM