The United Arab Emirates (UAE) has unequivocally denied claims that it offers a Golden Visa pathway for cryptocurrency investors, specifically those staking Toncoin (TON). This clarification comes after the TON Foundation and its partner, Peravel, promoted a program suggesting a 10-year residency visa for a $100,000 TON stake and a $35,000 fee, leading to a temporary surge in TON's price before a significant dip following the official denial.
UAE Authorities Debunk Crypto Golden Visa Claims
In a joint statement, the UAE's Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA) firmly refuted reports circulating about a Golden Visa for digital currency investors. The authorities emphasized that Golden Visas are granted based on specific, established criteria, which do not include investments in cryptocurrencies.
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The official denial directly contradicted claims made by the TON Foundation and its partner, Peravel, which had advertised a pathway to a 10-year UAE Golden Visa for individuals staking $100,000 worth of Toncoin (TON) for three years, along with a $35,000 processing fee.
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VARA further clarified that TON is neither registered nor licensed within its jurisdiction, meaning it cannot operate or collaborate with the government without meeting regulatory requirements.
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The authorities urged the public to verify information through official government sources to avoid misinformation and potential fraud.
The Golden Visa Program: Established Criteria
The UAE's Golden Visa program, introduced in 2019, aims to attract skilled individuals and long-term investors to the region. The program offers residency for five to ten years, but eligibility is strictly defined and does not encompass cryptocurrency investments.
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Eligible Categories Include:
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Real estate investors (typically requiring investments of AED 2 million or more)
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Entrepreneurs (with projects valued at least AED 500,000 and approved incubator backing)
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Exceptional talents
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Scientists and specialists
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Top students and graduates
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Humanitarian pioneers
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Frontline workers
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Market Reaction and Industry Skepticism
The initial news of the purported Golden Visa pathway for TON investors caused a temporary surge in Toncoin's price, with some reports indicating a 10% jump. However, following the UAE's official denial, TON's value experienced a significant dip, retracing much of its gains.
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Former Binance CEO Changpeng "CZ" Zhao had publicly questioned the legitimacy of the TON Foundation's announcement, reflecting broader industry skepticism.
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Despite the official denial from UAE authorities, the TON Foundation's Golden Visa application page reportedly remained active on its website.
Golden Visa Application Page: Ton
A Call for Caution and Official Verification
The incident serves as a stark reminder for investors and the public to exercise extreme caution and verify information from credible, official sources, especially concerning residency and investment opportunities. The UAE authorities have consistently advised against engaging with unverified advertisements or offers circulating online, reinforcing the importance of relying on official government channels for accurate information regarding visa requirements and investment regulations.
Sources
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UAE Denies Golden Visa Perk For Toncoin (TON) Investors, blockzeit.com.
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TON Golden Visa: UAE Authorities Deny Cryptocurrency Pathway to Residency, Blockhead.
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TON Coin Erases Some Gains After Golden Visa Clarification, Cointelegraph.
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UAE Clarifies No Golden Visa For Crypto Investors, MENAFN.com.
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