UAE: Golden Residency Granted to Cryptocurrency Investors Rumored

The Federal Authority for Identity, Citizenship, Customs and Ports Security (ICCPS), the Securities and Commodities Authority (SCA), and the UAE Virtual Assets Regulatory Authority (VARA) denied, in a joint statement, the rumors circulating on some websites and social media platforms about the UAE granting Golden Residency to cryptocurrency investors.

They confirmed that these allegations are baseless. The ICA clarified that Golden Residency is granted in the country according to very formal and precise frameworks and conditions. It added that the Golden Residency is reserved for specific categories that do not include cryptocurrency investors.

A cryptocurrency company claimed that mortgaging $100,000 in TON would enable them to obtain residency in the UAE for a fee of approximately $35,000. This contributed to a more than 10% increase in the value of TON after a purported offer for a Golden Visa appeared on its website.