The Open Network (TON) recently announced a thrilling new initiative in collaboration with the United Arab Emirates (UAE). Through this partnership, TON stakers now have the extraordinary opportunity to obtain a 10-year Golden Visa. Under this program, investors who stake a minimum of US$ 2 million in TON tokens can obtain long-term residency in the UAE. The initiative uses the UAE’s forward-looking approach to digital assets to ensure that residency by cryptocurrency is not just a dream.
Golden Ticket to Dubai: Stake TON, Get Residency
In a nutshell, TON stakers will get an exclusive chance to obtain a long-term, 10-year Golden Visa in the UAE. To become eligible, applicants will need to stake a minimum of $100,000 in TON tokens for a duration of three years. This staking process is made super easy through a decentralized smart contract on the TON blockchain, creating an unprecedented level of transparency and security.
Successful applicants—and all of their immediate family members—will be issued a UAE Golden Visa, renewable every 10 years. This new long-term visa allows grapheme holders to live, work and invest in the UAE. It truly opens doors to infinitesimal opportunities in an exciting and dynamic economic landscape. Exchange participants are offered expedited pathways to residency in the UAE, significantly lowering barriers to residency. Finally, it makes it a lot easier for individual crypto investors to get access.
"Big News! Toncoin has just launched a groundbreaking initiative, offering TON holders the exclusive chance to secure a 10-year Golden Visa." - Max Crown, CEO of the TON Foundation
A Streamlined Path to UAE Residency
We want the process of getting a Golden Visa via TON staking to be as streamlined and efficient as possible. Applicants should be prepared to undergo the whole process in less than seven weeks. There is a one-time government processing fee of $35,000 tied to the visa application.
This would enable you to live, work, or study anywhere in UAE without having a local sponsor (which is one of the main requirements for other visa types). Residential visa holders are able to take advantage of a wide range of financial incentives, as well as high-quality, world-class healthcare and education. This new initiative is an important step towards integrating cryptocurrency into the financial and immigration system at large.
UAE: A Budding Crypto Hub
Importantly, the UAE has used this moment to position itself as a global hub for digital assets. It draws in big crypto players with clear rules and a forward-leaning approach to innovation. The nation has led the way in instituting progressive regulations, tax incentives, and cultivating a bustling blockchain ecosystem. Notably, the UAE has exempted crypto transactions from the 5% value-added tax, effective retroactively from January 2018, further solidifying its position as a crypto-friendly jurisdiction.
It’s no coincidence that major crypto firms like Binance, Crypto.com, and Bybit have established regional headquarters in the UAE. They’re pulled by the region’s welcoming regulatory environment. The UAE's Virtual Assets Regulatory Authority (VARA) plays a crucial role in driving regulatory clarity and fostering innovation within the digital asset space. This partnership between TON and the UAE is a shining example of the country’s commitment to adopting blockchain technology, attracting global talent.
