TON offering 10year UAE Golden Visa
Clarifying based on new information - TON and UAE both issued statements the past 18+ hours stating that UAE is developing Golden Visa outside of TON. Apologies for any incorrect info conveyed below!!!!
How much TON do you need to stake to take advantage of Golden Visa offer?
Just a paltry $100,000 in stake TON. I just laughed out loud, they make this sounds like such a low number. It is way move than the average salary in the USA. I can't envision what other countries must be thinking, its a lifetime earnings. Have we hit a bifurcated world this value is thrown about like a ragdoll?
Time Savings
Cut your application time for Golden Visa in under 7 weeks from document submission to the UAE Visa Office
Cost Savings
Estimates released shows this would cut costs by 80%, however, the processing fee is still $35,000. Ouch. All in all the UAE / TON program still offer a massive discount from the list price requirement for $540,000. I am still not even close to the $35,000 processing fee.
What happens to the applicants staked TON?
Applicants TON earns in their possession and they earn somewhere between 3-4% APY
Required Staking Period.
The $100K staked TON must be staked for 3-years. WOW, 3-years for that much capital being locked up. Yikes.
What does this do to UAE?
It is easy to see how TON benefits, but what about UAE? The first benefit is rapid validation as a Global Blockchain Hub with a secondary benefit of attracting more and more Crypto projects.
Summary
Crypto has opened so many doors to the world, wonder how many can afford to take advantage of this program? Sounds exciting.
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