The UAE government has officially clarified that cryptocurrency investors are not eligible for the country’s Golden Visa.
This announcement follows claims made by the Ton Foundation, which suggested that individuals could obtain a UAE Golden Visa by purchasing and staking Toncoin, a digital currency.
What Happened?
Over the weekend, Max Crown, CEO of Ton Foundation, posted on social media that Toncoin holders could get a 10-year UAE Golden Visa by paying a one-time fee of $35,000.
The post quickly went viral, causing confusion among investors.
But on Sunday, three UAE authorities issued a joint statement to stop the spread of false information. These were:
- Federal Authority for Identity and Citizenship, Customs and Port Security (ICP)
- Securities and Commodities Authority (SCA)
- Virtual Assets Regulatory Authority (VARA)
What Did the Authorities Say?
- Golden Visas are not for crypto investors.
ICP said the Golden Visa is only given to selected groups like:- Real estate investors
- Entrepreneurs
- Top students and graduates
- Scientists and professionals
- Humanitarian workers and frontline heroes
- Toncoin is not licensed.
VARA clearly said Toncoin is not licensed or regulated in the UAE. - Follow the rules.
All companies must follow official visa rules of Dubai and the UAE government.
The UAE Golden Visa is a long-term residency that helps skilled people, investors, and experts live and work in the country for 10 years.
This visa is a serious and official process. The UAE wants to make sure only real and deserving applicants get this benefit.
The UAE has not approved Golden Visas for people who invest in digital currencies like Toncoin. All investors are advised to be careful and follow the official process only.
