The Securities and Commodities Authority (SCA), the Virtual Assets Regulatory Authority (VARA), and the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) have jointly released a statement refuting rumours that have been making the rounds on some websites and social media platforms that the UAE offers golden visas to cryptocurrency investors.
The ICP reiterated that investors in digital currencies are not eligible for golden visas, which are granted by precise and formally recognised standards and requirements. Real estate investors, business owners, extraordinary talent, scientists and specialists, top students and recent graduates, humanitarian trailblazers, and frontline employees are among the eligible groups.
In regulating the financial industry and securities services in the United Arab Emirates, the SCA emphasised its commitment to global best practices. In keeping with the UAE’s strategic objectives of drawing in high-caliber capital and creating a sustainable investment climate, it said that its processes are made to guarantee openness, credibility, and support investor trust both domestically and abroad.
The authorities also confirmed that investments in digital currencies are subject to specific regulations and do not qualify for a golden visa. In order to prevent fraud or false information, it advised investors always to get information from reliable, legitimate sources.
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