TON Foundation has clarified that its exploration of a UAE Golden Visa program is an independent development, not directly endorsed by the UAE government. This statement follows earlier reports and subsequent denials from UAE authorities regarding a direct partnership for golden visas linked to digital asset holdings. The foundation emphasizes that any such program is in early stages and subject to government approval.
Key Takeaways
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The TON Foundation's Golden Visa initiative is an independent exploration, not a government-backed program.
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No official Golden Visa program in partnership with the UAE government has been launched by TON.
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UAE authorities have denied issuing golden visas specifically for digital asset holders.
TON Foundation Clarifies Golden Visa Initiative
The TON Foundation, the organization behind The Open Network (TON), has issued a statement to clarify its involvement in a potential program offering legal residency in the United Arab Emirates (UAE). The foundation stated that it is in the "early stages of development" with a licensed partner to explore the creation of a UAE Golden Visa. Crucially, the TON Foundation emphasized that any authority for such a program rests entirely with UAE government entities and is subject to applicable laws and regulations.
No Official Endorsement from UAE Government
Contrary to earlier reports, the TON Foundation explicitly stated that "no official Golden Visa program has launched in partnership with the government of the United Arab Emirates, nor has any governmental endorsement been granted to TON." This clarification comes less than 48 hours after TON had indicated it would be offering 10-year golden visas for the UAE. This initial announcement prompted a swift response from several UAE authorities, including the Federal Authority for Identity, Citizenship, Customs and Port Security, the Securities and Commodities Authority, and the Virtual Assets Regulatory Authority, who jointly denied that visas were being issued to digital asset holders.
Context and Previous Speculation
Speculation surrounding the program gained traction after Telegram CEO Pavel Durov retweeted an X post detailing the initiative. Crypto figures, including former Binance CEO Changpeng "CZ" Zhao, had also questioned the legitimacy of the program before TON's recent clarification. The TON Foundation's proposed offer of a golden visa, potentially requiring $100,000 in staked Toncoin (TON), could be significantly more affordable than conventional routes, which often demand a minimum $540,000 investment in illiquid assets.
Deleted repost: Pavel Durov
Global Trends in Residency Programs
This situation highlights a broader trend of countries offering pathways to residency through significant investments. While not always tied to cryptocurrencies, such programs are gaining popularity among crypto investors. For example:
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Portugal: Offers its Golden Residence Permit Program, allowing non-EU nationals to obtain citizenship through investments, including over $500,000 in crypto.
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United States: President Donald Trump announced a "gold card" program in February, allowing investors willing to pay $5 million or more for legal residency. As of June 17, approximately 70,000 people had reportedly signed up for this initiative.
Sources
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