UAE Denies Golden Visas for Crypto Investors

UAE: No Golden Visa for Crypto Investors - Authorities Deny Misleading News

Authorities in the United Arab Emirates have officially refuted claims that cryptocurrency investors, particularly Toncoin owners, would automatically be entitled to obtain the highly sought-after 10-year Golden Visa residency permit. According to the official statement, the long-term residency permit continues to apply strictly to well-defined categories, and the possession of digital assets alone is not sufficient.

No Link Between Crypto Assets and Golden Visa

The Federal Authority for Identity and Citizenship, Customs and Ports Security (ICP), the Securities and Commodities Authority (SCA), and the Dubai Virtual Assets Regulatory Authority (Vara) emphasized in a joint statement that the Golden Visa can only be issued under officially defined conditions, which do not include cryptocurrency investors.

Those eligible include:

real estate investors,

entrepreneurs,

outstanding talents,

scientists and specialists in their fields,

students and recent graduates with excellent academic achievements,

pioneers in humanitarian fields,

frontline workers.

According to the statement, investments related to digital assets are subject to other regulations and are not part of the residency visa system.

False Online News and Fraudulent Offers

The authorities' statement followed claims made by an influential figure representing the Ton Foundation, who suggested that Toncoin owners could obtain the Golden Visa for a one-time fee of $35,000. According to the post, staking Ton tokens would also be necessary. Vara quickly and firmly denied these claims, adding that neither Ton nor its managing foundation is licensed or regulated in the UAE.

As part of the fight against false information, authorities warned interested parties not to fall for any offers that do not come from official government channels, even if they are spread on well-known platforms like social media.

Mandatory to Verify with Official Sources

The SCA emphasized that all investors are obliged to inform themselves from reliable sources and cooperate only with service providers who have the necessary licenses in the UAE. It is particularly crucial for interested parties to avoid being misled by false promises regarding visa eligibility.

According to the statement, anyone genuinely interested in the Golden Visa should visit the ICP's official website, where detailed, up-to-date information is available on current eligibility requirements, the application process, and necessary documents.

Summary

Dubai authorities have clearly stated that owning or staking cryptocurrencies does not qualify one for a Golden Visa, and offers related to this are unfounded and might even be fraudulent. The official stance is clear: only those who meet the prescribed, strictly regulated categories can receive the Golden Visa.

(Source of the article: joint statement by the Federal Authority for Identity and Citizenship, Customs and Ports Security (ICP); Securities and Commodities Authority (SCA); and Virtual Assets Regulatory Authority (Vara).)