Post by : Mumtaaz
Qadiri
Photo: WAM
In recent weeks, several websites and social media platforms have been spreading misleading claims that the United Arab Emirates (UAE) is offering Golden Visas to individuals who invest in digital currencies such as Bitcoin, Ethereum, and other cryptocurrencies. These claims have sparked confusion among investors and the general public, both within and outside the UAE.
Joint Statement Issued to Clarify Misinformation
To address these rumors, three key government authorities have come together to issue a joint official statement. These include:
The Federal Authority for Identity, Citizenship, Customs, and Port Security (ICP)
The Securities and Commodities Authority (SCA)
The Virtual Assets Regulatory Authority (VARA)
The three bodies have firmly denied that cryptocurrency investments are connected in any way to Golden Visa eligibility.
Golden Visas Are Issued Through Approved Legal Criteria Only.
The ICP, which oversees the issuance of the Golden Visa and other residency permits in the UAE, has made it clear that the Golden Visa is granted only based on legally defined, transparent, and officially approved categories. Digital currency investment is not one of those categories.
ICP officials confirmed that only individuals from the following approved segments are considered for Golden Visa eligibility:
- Real estate investors meeting specific capital requirements
- Entrepreneurs running established, revenue-generating businesses
- Scientists and researchers in fields like health, space, technology, and energy
- Inventors and creative talents with a strong global or national impact
- Exceptional university graduates and top-performing school students
- Humanitarian workers and community service pioneers
- Frontline workers who have served society in times of crisis
Cryptocurrency Investors Not Included in Eligibility List
The ICP has categorically stated that investors who deal only in digital currencies or virtual assets are not eligible for the UAE Golden Visa under any circumstances. This includes investments made through exchanges, NFTs, virtual asset trading, or any other form of crypto-related activities.
SCA Highlights Financial Transparency and Regulatory Integrity
The Securities and Commodities Authority (SCA), which oversees the UAE’s financial markets and securities sector, added its voice to the joint statement. The SCA emphasized that its policies are designed to uphold global standards of transparency, credibility, and trustworthiness.
The SCA reaffirmed its commitment to attracting responsible investment into the UAE while ensuring that all financial operations adhere to strict regulatory frameworks. The authority warned that while crypto investments are legal and regulated, they are separate from immigration or residency matters.
Misleading Offers Could Lead to Fraud and Financial Loss
The SCA cautioned individuals against falling prey to fraudulent offers or unofficial agents who falsely promise visa benefits in exchange for crypto investment. They urged the public to rely solely on official websites and verified communication channels for any information related to investment or immigration.
VARA Warns Against False Ads and Unregulated Crypto Firms
Dubai’s Virtual Assets Regulatory Authority (VARA), which is the official body responsible for overseeing virtual asset activities within the emirate, also strongly denied the circulating rumors. VARA issued a clear warning to investors: there is no provision that allows cryptocurrency investments to influence Golden Visa eligibility.
They urged consumers to avoid interacting with platforms, websites, or agents that advertise Golden Visas through crypto investments. These advertisements, the authority said, are not supported by VARA or any other federal or local body.
VARA Urges Use of Only Licensed and Regulated Platforms
VARA stated that anyone interested in dealing with virtual assets or crypto services in Dubai should do so only through licensed, regulated platforms. The authority maintains a public list of all firms and service providers that are authorized to operate in the emirate.
VARA stressed that even if a company is licensed to offer virtual asset services, that license does not mean the company can offer immigration or residency services.
TON Is Not Licensed or Recognized by VARA
In the wake of these misleading reports, one company—TON—has been specifically named in viral posts. VARA took the opportunity to publicly declare that TON is neither licensed nor recognized by VARA.
This means that any claims by TON, or offers promoted in its name, are not authorized under Dubai’s regulatory framework and should be treated as suspicious.
Unified Caution Against Misleading Advertisements and Agents
All three authorities—ICP, SCA, and VARA—have jointly cautioned the public to be extremely careful when reading, sharing, or acting on information that appears on social media or non-governmental websites.
They warned against:
- Trusting unverified advertisements
- Believing offers that sound too good to be true
- Relying on unregistered immigration agents or brokers
- Falling into fraudulent schemes that target crypto users
Golden Visa Program Remains a Prestigious Initiative
The UAE’s Golden Visa remains one of the most respected long-term residency programs in the world. Launched to attract world-class talent, top investors, and impactful professionals, the program has successfully brought thousands of individuals who contribute to the UAE’s knowledge economy, healthcare sector, innovation hubs, and real estate market.
The visa program is designed to benefit both the UAE and the visa holder by providing stability, access to a world-class business environment, and long-term living opportunities in a safe, progressive country.
However, the authorities reiterated that this prestigious visa cannot be obtained through shortcuts, especially not through unregulated crypto investments.
Public Advised to Stay Updated via Official Channels
The ICP, SCA, and VARA concluded their joint message with a strong appeal to the public: stay informed through official UAE government platforms. All rules, criteria, procedures, and eligibility updates regarding the Golden Visa program are published transparently on official websites.
They also reminded investors and residents that the UAE is fully committed to consumer protection, digital security, and responsible governance, especially in the fast-evolving space of blockchain and virtual assets.
UAE authorities have taken a united and transparent step in clearing up confusion about the Golden Visa and digital currencies. While the UAE continues to lead the region in regulating and encouraging innovation in crypto and blockchain, it also maintains clear and separate rules for immigration and residency.
People seeking a Golden Visa are advised to focus on the recognized eligibility categories and avoid misinformation. Meanwhile, those interested in crypto investing should do so responsibly, using only VARA-licensed platforms, and should not expect any residency advantages from their investments in virtual currencies.
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