The Emirates authorities have clarified that global investors investing in cryptocurrencies like Toncoin are not eligible for the Golden Visa UAE. Explaining this, the officials confirmed this special visa is only issued based on official rules, framework, and criteria, and people investing in digital currencies are not eligible applicants for this visa.
The UAE Golden Visa, which offers a foreign national to stay, work, and do business in the country, is granted to specific applicants, including startup owners, skilled professionals, scientists, brilliant students, real estate investors, and others. According to the ICP, crypto investors are not included in the eligible category.
UAE Authorities Deny Claims Made by Toncoin CEO
The clarification for non-eligibility of digital currency investors for the UAE Golden Visa is made through a joint statement from the ICP, SCA, and VARA. The statement clarified all the claims about Toncoin investors as eligible applicants for this special long-term residency visa.
VARA clarified that any licensed company or business in the crypto sector must strictly follow the visa rules set by the Dubai government. The authority also mentioned that Toncoin is neither licensed nor regulated by the VARA.
This clarification was made in response to a statement that came from Max Crown, the Ton Foundation’s CEO. During the weekend, he posted on X that Toncoin holders or investors could get a UAE Golden Visa by investing in their tokens. Moreover, he claimed that investors or stakeholders can secure a 10-year Golden Visa with a special opportunity offered by the Telegram-based crypto ecosystem, which is to pay a one-time fee of $35,000 and satisfy some other conditions.
Authorities Warn Against False Visa Claims Linked to Crypto Investments
VARA confirmed that the recent claims about giving UAE Golden Visas to crypto investors are false. The authority also advised investors to invest or buy stakes in only licensed and officially approved crypto companies and businesses.
SCA also expressed its opinion on the false Golden Visa claims linked to crypto investments and warned that anyone investing in cryptocurrencies needs to get information from trusted sources. Firstly, they must get all necessary information from verified resources and then invest in crypto investments. The authority added that digital currency investments are regulated, but they do not qualify for a Golden Visa.
All three government authorities, ICP, SCA, and VARA, requested the public to avoid false claims and misleading information from unofficial sources. They strongly advised them to check only official websites that provide real, updated, and verified information. Anyone who wants to understand the actual rules and requirements for the Golden UAE Residency Visa can visit the ICP’s official website.
The ICP is a major government authority, which is responsible for handling visa and immigration-related services, like issuing visas, residency permits, visa renewal, etc. Their online platform provides accurate and up-to-date information about the Golden Visa and other visa categories, eligibility requirements, application process, and more. Moreover, if you are still unaware or need personalized assistance, you can seek assistance from an expert and licensed visa services provider to avoid any issues. Whether you’re a skilled professional or a founder with the best startup story, it’s crucial to align your visa application with official UAE guidelines to avoid misleading offers.
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