Denial of Golden Visas for Digital Currency Investors
The Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), along with the Securities and Commodities Authority (SCA) and the Virtual Assets Regulatory Authority (VARA), jointly deny reports that suggest the UAE grants golden visas to investors in digital currencies.
Golden Visa Eligibility
The ICP clarified that golden visas are issued based on officially approved criteria, which exclude digital currency investors. Eligible categories include:
- Real estate investors
- Entrepreneurs
- Exceptional talents
- Scientists and specialists
- Top students and graduates
- Humanitarian pioneers
- Frontline workers
Commitment to Financial Standards
The SCA reassures its adherence to internationally recognised standards in regulating the UAE’s financial sector. Their procedures aim to ensure transparency and bolster investor confidence while aligning with UAE’s strategic goals by attracting quality capital and fostering a sustainable investment environment.
Specific Regulations for Digital Currencies
Investments in digital currencies are governed separately, with no relation to golden visa eligibility. The SCA urges investors to rely on credible, official sources to avoid misinformation.
VARA’s Position
VARA denies claims of golden visas for virtual asset investors in Dubai. It advises dealing with licensed and regulated companies for virtual asset services, emphasizing risk assurance, and consumer protection. VARA notes that the company TON is neither licensed nor regulated by them.
Call for Caution
The authorities collectively urge caution, recommending the public and investors refer to official channels for accurate information and avoid unverified online advertisements.
For detailed golden visa requirements, please visit the ICP’s official website at www.icp.gov.ae.
