Stake crypto, secure residency: TON’s bold UAE visa play
A golden ticket to the UAE now comes with a crypto twist.
- The Open Network (TON) offers a pathway to UAE residency.
- Applicants must stake $100,000 in Toncoin (TON) for three years.
- A one-time $35,000 processing fee is required.
- The Golden Visa extends to immediate family members.
The Open Network (TON) is shaking things up, offering a unique route to UAE residency: a 10-year Golden Visa for those who stake $100,000 worth of Toncoin (TON).
Your crypto unlocks a decade in Dubai?
TON announced Saturday that applicants can “secure your Golden Visa in under 7 weeks from document submission to the Visa Office.” The visa processing and residency status confirmation will be managed by TON’s UAE-based partners.
During the three-year staking period, applicants retain control of their assets through a decentralized smart contract verifiable on the TON blockchain. The program estimates annual yields of 3% to 4% on staked assets.
Family included at no extra cost
The Golden Visa extends to spouses, children, and parents at no additional cost beyond standard government fees.
Golden Visa entry cost slashed by 80%
Traditional UAE Golden Visas often require a minimum $540,000 investment in illiquid assets. TON’s program significantly lowers the barrier to entry, requiring only $100,000 in staked TON.
Bobby Ong, co-founder of CoinGecko, wrote on X that “the entry is 5x lower than an equivalent real estate / FD investment and will certainly get the attention of whales to take a look at TON and consider this as an option.”
Following the announcement, Toncoin’s price surged over 10%. The token is trading at around $2.98, up by more than 8% over the past day. According to data from CoinMarketCap, the token is still down by more than 60% over the past year.
Doubts surface despite the buzz
Some question the program’s significance, noting it isn’t an official UAE government partnership.
“3rd party provider is using TON as a proxy to help their clients get golden visa for entrepreneurs. They could have used FARTCOIN instead,” Sigil Fund partner Joe HedgeHog wrote on X, July 6.
UAE aims to be a blockchain hub
This crypto-based residency program aligns with the UAE’s goal to become a leading destination for blockchain and crypto projects.
Last month, the Dubai Financial Services Authority (DFSA) approved Ripple’s RLUSD stablecoin.
In May, Dubai’s crypto regulator updated its guidelines to include provisions for real-world asset (RWA) tokenization. Lawyer Irina Heaver said these rules give issuers and exchanges a clear path to launch and trade tokenized real estate assets.
The Dubai Multi Commodities Centre free zone has attracted over 600 crypto companies, with more firms flocking to the Dubai International Financial Centre and One Central district.
