Latest news with #Toncoin
Arabian Post
7 days ago
- Business
- Arabian Post
UAE Authority Rejects Myth of Lifetime Golden Visa
Arabian Post Staff -Dubai Federal Authority for Identity, Citizenship, Customs and Port Security has issued a strong and authoritative rebuttal to claims circulating that the United Arab Emirates is offering lifetime Golden Visas to certain nationalities. In its statement on 8 July, ICP emphasised that Golden Visa eligibility is strictly governed by existing laws, ministerial decisions, and official regulations. Applications are processed only via UAE government channels—no consultancy firm, internal or external, has legitimate authority to promise visa grants under simplified conditions. The statement was prompted by alleged press releases from a foreign consultancy office claiming applicants could secure lifetime Golden Visas for all categories from abroad. ICP characterised these claims as legally baseless and made without coordination with UAE authorities. Following these claims, several Indian and UAE-based outlets reportedly published the information before the ICP clarified its position. ADVERTISEMENT While ICP refrains from naming the specific consultancy, it has warned of impending legal action against entities using false promises to extract money from individuals seeking long-term residency in the UAE. 'Entities spreading such false information [are] exploiting [people's] hopes for a dignified life,' the authority stated. It urged the public to verify procedures through official sources, including its website and app, or by contacting the designated call centre at 600522222. The ICP insisted that the Golden Visa framework remains unchanged: eligibility criteria, procedural regulations, and visa categories continue to be defined by UAE law and ministerial orders alone. The visa remains accessible only to those meeting these statutory provisions, and all processes must follow the established, government-operated digital platforms. This response comes amid a broader pattern of misinformation regarding Golden Visa eligibility. Earlier this month, another wave of misleading reports claimed investors in digital currencies—particularly in Toncoin—had qualified for a ten-year Golden Visa by staking cryptocurrency. In response, ICP, alongside the Securities and Commodities Authority and the Virtual Assets Regulatory Authority, issued a joint statement rejecting those claims and reminded the public that cryptocurrency investment is not a recognised category for Golden Visa issuance. Under the official programme, Golden Visa eligibility remains targeted to specific categories: real-estate investors, entrepreneurs, exceptional talents, qualified professionals, scientists and researchers, high-performing graduates and students, frontline workers, humanitarian pioneers, and notable maritime asset holders. The ICP reaffirmed that these criteria are set in accordance with legal frameworks and are unchanged by the rumours. Despite the cross-border spread of misinformation, UAE authorities appear resolute in their commitment to transparency, integrity, and regulatory enforcement. The ICP has stated that all application processes must occur through official digital services, and only those platforms bear the authority to collect fees or accept documentation. Third-party entities claiming to facilitate visa applications risk legal consequences. ADVERTISEMENT Experts underscore the potential fallout from such false claims. 'Misleading promises fuel public confusion and pose reputational risks for the UAE's visa systems,' noted one legal analyst based in Dubai, requesting anonymity. Misinformation casts doubt on the authenticity of the Golden Visa programme and could encourage fraud. UAE authorities increasingly rely on legal measures and public advisories to counteract false narratives. The timing of this clarification aligns with heightened international interest in UAE residency schemes. In early July, news emerged that the UAE was piloting a streamlined lifetime Golden Visa pathway for Indian nationals under the UAE‑India Comprehensive Economic Partnership Agreement. Under the pilot, eligible Indian applicants could receive life-long residency without property investment, upon nomination and the payment of AED 100,000. This development appears to have driven a surge in media attention and consultation requests aimed at service providers. While the ICP has not confirmed or elaborated on a pilot programme specific to any nationality, it advised the public to seek information strictly through official platforms. Interested parties are encouraged to consult the ICP website or app for updates on visa categories, including any new arrangements introduced under international agreements. Signals from the UAE government reflect a dual strategy: expanding its talent- and investment-focused Golden Visa system, while firmly safeguarding procedural integrity. Through legislative collaboration, digital transformation, and cross-border trade agreements, the UAE continues to enhance its residency framework. However, officials remain vigilant against exploitation and fraudulent intermediaries. As the visa environment evolves, clarity from ICP and associated authorities remains vital. Their recent intervention serves to remind the public that any deviations from established criteria are unauthorised and legally questionable. For those pursuing Golden Visa status, due diligence and reliance on official channels are indispensable.
Yahoo
08-07-2025
- Business
- Yahoo
The TON golden visa offer was never about residency. It was about crypto's identity crisis
The TON golden visa offer was never about residency. It was about crypto's identity crisis originally appeared on TheStreet. This past weekend, The Open Network (TON) made an announcement that staking $100,000 worth of Toncoin for three years and paying a $35,000 processing fee, individuals could become eligible for a 10-year golden visa to the United Arab Emirates. The message was clear—crypto wasn't just about finance anymore. It was now offering life-changing, government-backed privileges. Or so it seemed. The proposal promised a streamlined pathway to residency — under seven weeks from submission to approval — along with annual staking yields of 3% to 4% and visa coverage for immediate family members. It was billed as an 'investment alternative' to traditional golden visa routes, which usually require property purchases or large equity injections. And it came with an apparent seal of confidence: Telegram CEO Pavel Durov reshared the announcement on X, lending it a powerful (if implicit) sense of credibility. Have a different take on TON's golden visa pitch? Join TheStreet's Mehab Qureshi on Roundtable and share your view. For a few hours, it worked. Toncoin rallied. Crypto Twitter buzzed. In an industry constantly searching for validation in the real world, this felt like a headline breakthrough. But by Monday, the UAE government had refuted the claim, categorically. In a joint statement, the Federal Authority for Identity and Citizenship, the Securities and Commodities Authority, and the Virtual Assets Regulatory Authority stated clearly: digital asset investments do not qualify for golden visa programs. They warned investors not to confuse promotional material with public policy, and they noted that TON was not licensed or regulated in the UAE. Let's be clear that there's nothing illegal about promoting staking programs. And blockchain-backed yield mechanisms, while still volatile, are a part of mainstream crypto infrastructure. But what made this case stand out was the leap from digital finance into sovereign immigration policy, something no crypto project, no matter how confident, has the authority to promise. The golden visa debate is just getting started. Join Mehab Qureshi on Roundtable to weigh in. To be eligible for a golden visa in the UAE, investors must meet strict criteria: a minimum of 2 million AED (about $544,000 USD) in real estate or public investments, or professional distinction in high-demand sectors like healthcare, research, or entrepreneurship. The visa allows long-term residency, the ability to live and work in the country without a sponsor, and other benefits designed to attract talent and capital. That's why the TON episode should be read not as an isolated misfire, but as a symptom of crypto's deeper identity tension. On one hand, the industry is maturing, platforms like TON, Ethereum, and Solana are increasingly integrated into fintech conversations. On the other hand, there's still a hunger for moonshot moments shortcuts to legitimacy, often pitched without the infrastructure or oversight to support them. In this case, even seasoned observers were caught off guard. Binance founder CZ reacted on X with the simple question, 'Is this real?' And that's the real issue. It's not about TON. It's about how easily bold crypto narratives can break containment—how fast a marketing slide can be mistaken for state-backed policy, especially in a space where tokens double as brands, products, and investments. The UAE has positioned itself as a global blockchain hub, attracting hundreds of firms with its light-touch but structured approach to crypto regulation. But the golden visa is not part of that sandbox. TON's misstep wasn't in building a staking program. It was in assuming that the rules of the blockchain could extend to the rules of a state. There's a lesson here, and it's one the crypto sector would do well to internalize, innovation doesn't excuse overreach. You can build fast, yes. But if you're going to claim real-world access—residency, citizenship, banking—you need real-world permission. Crypto still operates in a credibility economy. And that credibility is hard-earned, easily lost. The more projects blur the line between aspiration and authority, the harder it becomes for the entire space to gain the trust it desperately seeks—from regulators, from users, and from the public. For all its potential, crypto cannot rewrite immigration law. Not yet. And certainly not through a staking pitch. Disclaimer: This article is an opinion piece and reflects the views of the author. The information provided is for informational purposes only and should not be interpreted as legal, financial, or immigration advice. The TON golden visa offer was never about residency. It was about crypto's identity crisis first appeared on TheStreet on Jul 7, 2025 This story was originally reported by TheStreet on Jul 7, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time Out Dubai
07-07-2025
- Business
- Time Out Dubai
UAE clarifies that TON and crypto investors don't get golden visas
The United Arab Emirates has clarified its golden visa rules following online speculation that crypto investors in the country can get the long-term residency permit. On Sunday July 6, there was widespread speculation on social media that investors in the cryptocurrency Toncoin would be granted a 10-year golden visa. However, the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) , the Securities and Commodities Authority (SCA) and the Virtual Assets Regulatory Authority (VARA) have issued a joint statement to deny these false reports. Golden visas, which allow holders to live, work and study in the UAE without the need for a national sponsor, are issued according to clear and officially approved frameworks and criteria. While the rules have opened up in recent years, the ICP has highlighted that the frameworks and criteria do not include digital currency investors. Eligible criteria include real estate investors, entrepreneurs, exceptional talents, scientists and specialists, top students and graduates, humanitarian pioneers and frontline workers. And, in Dubai, help is provided to eligible nurses, teachers and content creators to obtain the document. You may like: Every UAE golden visa category explained The SCA reaffirmed that it is committed to upholding internationally recognised standards in regulating the financial sector and securities services in the UAE. It further clarified that digital currency investments are governed by specific regulations and are unrelated to golden visa eligibility. The authority urged investors to obtain information from credible and official sources to avoid misinformation or fraud. VARA denied any claims regarding the issuance of golden visas to virtual asset investors in Dubai. The authority urged consumers and investors to deal exclusively with fully licensed and regulated companies when engaging in services and investments related to virtual assets. Companies licensed by VARA must strictly adhere to the visa procedures outlined by the Government of Dubai and the relevant federal authorities. The company TON, which claimed it was capable of offering users the chance to get a golden visa, is not licensed or regulated by VARA. The three authorities urged the public and investors to exercise caution and only refer to official government websites and approved communication channels for accurate information. They also warned against engaging with unverified adverts or offers spreading online. In other Dubai news The incredible music festivals coming soon to Dubai The big events to know about All the best concerts and gigs coming to Dubai in 2025 There's a show for every taste 16 brilliant Dubai staycation deals to snap up this summer From free breakfasts to spa treatments
Arab Times
07-07-2025
- Business
- Arab Times
No Golden Visa For Crypto: UAE Issues Official Warning
DUBAI, July 7: UAE authorities have firmly denied claims that investors in the cryptocurrency Toncoin are eligible for the country's prestigious Golden Visa. In an official joint statement, the Federal Authority for Identity and Citizenship, Customs and Ports Security (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA) clarified that Golden Visas are issued based on well-defined and approved criteria. These criteria do not include investments in digital currencies. The Golden Visa — a long-term residency program — is granted to select categories, including real estate investors, entrepreneurs, exceptional talents, scientists and specialists, top-performing students and graduates, humanitarian pioneers, and frontline workers, according to the ICP. The clarification follows recent claims by Max Crown, CEO of the Ton Foundation, who stated on the social media platform X that holders of Toncoin could obtain a 10-year UAE Golden Visa by staking the cryptocurrency and paying a one-time fee of $35,000, subject to other conditions. However, VARA categorically stated that Toncoin is neither licensed nor regulated by the authority, and that any licensed company must follow Dubai's official visa procedures. The SCA warned investors and the public against misleading information, emphasizing that specific regulations govern digital asset investments and are not tied to Golden Visa eligibility. It urged individuals to rely only on licensed and regulated entities for financial dealings. All three authorities advised the public to verify information through official government websites or trusted communication channels and to avoid interacting with unauthorized promotions or advertisements circulating online.
Crypto Insight
07-07-2025
- Business
- Crypto Insight
TON coin dips 6% after UAE authorities deny golden visa claim
The native cryptocurrency of The Open Network has retraced 6% from its 24-hour high after United Arab Emirates regulators refuted claims that staking Toncoin (TON) could create a pathway to UAE residency. Toncoin initially shot up 10% to $3.03 on Sunday after The Open Network claimed that applicants staking $100,000 worth of Toncoin for three years make applicants eligible for the UAE's golden visa program. However, the cryptocurrency partially retraced after the Emirates News Agency shared a joint statement from several regulators denying that claim. TON is now trading at $2.84, a 6% decrease from its recently posted 24-hour high. UAE disputes golden visa claim TON claimed that applicants who stake $100,000 worth of TON for three years and pay a one-time $35,000 processing fee would be eligible for a 10-year golden visa. Telegram CEO Pavel Durov added to the speculation by reposting the announcement on X from crypto influencer Ash Crypto on Sunday, though he has made no official comment. However, the Emirates News Agency later reported on Monday that the Federal Authority for Identity, Citizenship, Customs and Port Security, the Securities and Commodities Authority, and the Virtual Assets Regulatory Authority have said golden visas are not issued to digital asset holders. They also clarified that digital currency investments are governed by specific regulations and are unrelated to golden visa eligibility. 'The authority further confirmed that digital currency investments are governed by specific regulations and are unrelated to golden visa eligibility. It urged investors to obtain information from credible, official sources to avoid misinformation or fraud,' the Emirates News Agency reported. Cointelegraph reached out to the TON Foundation, President Manuel Stotz and CEO Max Crown for comment. Golden visa eligibility The golden visa is a long-term residency visa introduced by the UAE government in 2019 to attract skilled individuals to the region. It enables foreign nationals to live, work, and study in the UAE without needing a national sponsor, with visa durations ranging from five to 10 years, according to the Federal Authority for Identity, Citizenship, Customs and Port Security. To be eligible, users must meet strict criteria, such as having special skills, like being a doctor, scientist, or researcher. Investors can receive a golden visa if they have public investments worth 2 million United Arab Emirates dirham ($544,000) or more. Entrepreneurs can also be eligible if they own a registered startup recognized by the UAE authorities that is tech-based. Source:
