The TON Foundation issued a statement clarifying its role in the UAE Golden Visa program, denying any official backing from the government.
Clarifying TON Foundation's Role
The TON Foundation published a blog post stating that it is not involved in any official UAE Golden Visa program. "TON Foundation is aware of the premature announcement that circulated regarding a UAE Golden Visa initiative offered by TON. While we understand the community’s interest and enthusiasm, it’s necessary to provide clarity."
UAE's Response to Announcement
The UAE government swiftly addressed the announcement. The Federal Authority for Identity, Citizenship, Customs and Port Security, among other agencies, released a joint statement confirming that visas are not being issued to digital asset holders. "We fully support the joint statement confirming that no digital residency or investment visa initiatives have been formally approved or launched in partnership with the UAE government."
Eligibility for Golden Visa
The Golden Visa, created by the UAE government in 2019, allows foreigners to live, work, and study in the UAE without requiring a national sponsor. Applicants must meet strict criteria, including certain skills or investments. For instance, entrepreneurs and investors owning a tech-based startup recognized by the UAE government can also apply.
Currently, there is no indication that the TON Foundation will collaborate with the UAE government in the future. The initiative for obtaining a Golden Visa through cryptocurrency could be more accessible compared to traditional routes.
