UAE Denies TON's Golden Visa Claims for $100,000 Investments

The UAE authorities have recently issued a joint statement clarifying that cryptocurrency investors, particularly those involved with The Open Network (TON), are not eligible for the country's golden visa program. The statement, released by the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA), aims to address misinformation circulating about the program.

The clarification comes in response to TON's announcement of a program that purportedly offered UAE Golden Visas to individuals who invest $100,000 in TON tokens for three years, along with a processing fee of $35,000. The UAE authorities have emphasized that TON is not licensed or regulated by them, and thus, the program lacks official support. The SCA further noted that the rules for investing in digital currencies differ from the requirements for golden visas.

The golden visa program in the UAE is designed to attract specific groups, including real estate investors, entrepreneurs, exceptional talents, scientists, top students, humanitarian pioneers, and frontline workers. The authorities have urged the public to be cautious and to rely on official government sources for accurate information about visa requirements. They also advised against engaging with unverified ads or offers that could mislead potential investors.

The denial of these claims underscores the UAE's commitment to maintaining the integrity of its golden visa program. The program has been a key initiative in attracting talent and investment to the UAE, and the authorities are dedicated to ensuring that it remains a credible and attractive option for eligible individuals. The clarification serves as a reminder to potential applicants to verify information through official channels and to be wary of misinformation circulating online.

The UAE's stance on digital currency investments and the golden visa program is clear: while the country is open to innovation and investment, it is also committed to maintaining the integrity of its programs and ensuring that they are used for their intended purposes. The denial of these claims is a testament to the UAE's commitment to transparency and accountability, and it serves as a reminder to potential applicants to rely on official sources for information regarding the golden visa program.