UAE denies golden visa scheme for crypto investors

July 07, 2025 (MLN): The United Arab Emirates (UAE) has denied the existence of any golden visa program aimed at cryptocurrency investors, refuting claims made by The Open Network (TON) that such a scheme was available for individuals staking TON tokens.

The clarification came after TON promoted a “10-Year UAE Golden Visa with TON” initiative on its website.

The offer claimed that investors could obtain a visa within seven weeks by staking $100,000 worth of TON tokens and paying a $35,000 processing fee.

The site also claimed the staked amount could be withdrawn after three years.

However, multiple UAE government entities refuted these claims.

The Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) stated it had no knowledge of such a program, emphasizing that golden visas are issued based on clearly defined and officially approved categories.

These include real estate investors, entrepreneurs, scientists, exceptional talents, top students and graduates, humanitarian pioneers, and frontline workers, not digital asset holders.

The Securities and Commodities Authority (SCA) reinforced this stance, noting that cryptocurrency investments fall under separate regulations and have no link to golden visa eligibility.

It also urged the public to rely on official sources to avoid falling victim to misinformation or scams.

Adding further clarity, the Virtual Assets Regulatory Authority (VARA) stated that digital asset firms licensed in Dubai must adhere to standard visa protocols and that no special provisions exist for crypto investors under the golden visa program.

VARA also pointed out that TON is not a regulated digital asset in the UAE.

Despite the widespread disavowal, TON’s website continues to promote the offer at the time of writing.

In response to the claims, former Binance CEO Changpeng Zhao shared his skepticism online, commenting, “This program would be awesome if it was true.”

He added, “I didn’t want to bug too many ‘official’ friends on a Sunday.”

The official denials highlight the importance of verifying information through credible government channels, especially when it concerns immigration and investment opportunities tied to emerging technologies like cryptocurrencies.

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