Authorities in the United Arab Emirates have recently addressed claims circulating on social media regarding digital asset investors qualifying for the country’s long-term Golden Visa. The clarification was issued jointly by three major regulatory bodies – the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA).
According to a statement released on July 7, the ICP emphasized that the Golden Visa is currently reserved for individuals meeting specific eligibility criteria, such as real estate investors, entrepreneurs, scientists, and exceptional talents. Digital asset holders do not currently fall within this framework. The SCA further clarified that virtual assets are regulated under a separate legal structure unrelated to the Golden Visa program. VARA echoed these sentiments, affirming that no digital asset initiative grants visa privileges in the UAE and confirming that the Telegram-related TON token is not licensed to operate within the country’s regulatory environment.
In response to the news, there has been significant online discussion surrounding the initial TON announcement of a new Golden Visa pathway for crypto investors over the weekend. Binance founder Changpeng Zhao (CZ) criticized the marketing tactics employed by TON, describing them as “aggressive/misleading.” He highlighted the fact that individuals could pay $1,000 in major cryptocurrencies to an agent to submit a Golden Visa application, with no guarantees but a high chance of approval for those meeting the criteria.
The controversy arose from TON’s promotion of a 10-year residency in the UAE for individuals staking $100,000 worth of TON tokens and paying a one-time processing fee of $35,000. The project claimed that tokens would be locked for three years using a transparent, non-custodial smart contract, allowing users to retain ownership and earn between 3% and 4% annually. This was positioned as a more accessible route compared to traditional options that often require real estate investments exceeding $500,000.
As the authorities have clarified the situation and emphasized the importance of relying on licensed firms and official government portals for accurate information, it is essential for residents and prospective applicants to exercise caution and diligence when exploring residency opportunities in the UAE.