UAE quashes reports claiming grant of Golden Visa to cryptocurrency investors
Federal identity, citizenship, customs and port safety (ICP), securities and commodity authority (SCA) and virtual assets regulatory authority (VARA) issued a joint statement and clarified the criteria and a framework when it comes to such visas.
According to the Gulf news, the appropriate categories include real estate investors, entrepreneurs, exceptional capabilities, scientists and experts, senior students and graduates, human pioneers and facade workers.
While making a statement on the subject, ICP emphasized that gold visas are given according to open and officially approved frames and criteria that do not contain digital money investors.
SCA reiterated its loyalty to internationally recognized standards in the regulation of the financial sector and securities in Emirates.
The authority also stated that the procedures are designed to ensure transparency and reliability and to strengthen the trust of the investor within the country and abroad. All these steps are taken in accordance with their objectives to attract quality capital and promote a sustainable investment environment. The authority also confirmed that digital money investments were managed by certain regulations and that they had nothing to do with gold visa. In order to avoid incorrect information or fraud, he called on investors to receive information from official sources. Vara also rejected any claims about giving gold visas to virtual asset investors in Dubai. Authority, investors and consumers, virtual assets, while making services and investments to deal with completely licensed and regulated companies.
Varar has always confirmed its loyalty to the highest risk assurance and effective cooperation standards with SCA and relevant federal and local law enforcement agencies to protect a safe operational environment that gives priority to consumer protection.
He also underlined that companies licensed by VARA should definitely comply with the visa procedures summarized by the Dubai government and the relevant Federal authorities. He also announced that the company is neither licensed nor regulated by VARA.
Three officials met to ask the public and investors to remain careful and to receive accurate and authentic information. They also asked people to trust the official government websites and approved communication channels, and warned them against interaction with unfavorable advertisements or online proposals.
