TON Unveils UAE Golden Visa for Toncoin Stakers

By: Eva Baxter

In a groundbreaking move within the cryptocurrency landscape, Telegram's blockchain initiative, The Open Network (TON), has rolled out an exclusive program offering long-term residency in the United Arab Emirates (UAE) through the staking of its native cryptocurrency, Toncoin (TON). Announced recently, the program extends a 10-year UAE Golden Visa to investors who stake $100,000 worth of TON for a period of three years. This initiative marks the first instance of a crypto-centric residency offering of its kind, significantly lowering the traditional entry barriers to the UAE.

The mechanics of the program are straightforward. Applicants are required to stake a minimum of $100,000 in Toncoin through a decentralized smart contract on the TON blockchain. This staking action not only secures their investment for three years but also participates in a transparent process that ensures investor control over their funds. Alongside the staking requirement, a one-time governmental processing fee of $35,000 is necessary for securing the Golden Visa. Successful applicants, along with their immediate family members, receive a renewable visa allowing them to live, work, and invest in the dynamic UAE environment.

The response from the crypto community has been overwhelmingly positive, with industry observers and participants applauding the initiative's potential to attract digital wealth into the UAE. The nation, especially Dubai, has rapidly emerged as a prominent hub for blockchain and cryptocurrency enterprises due to its proactive regulatory framework, which includes tax exemptions on crypto transactions. Dubai's strategic push to exempt these transactions retroactively from a 5% value-added tax enhances its allure as a preferred destination for crypto professionals and organizations.

This initiative by TON not only simplifies the process of acquiring UAE residency but also aligns with its mission to bridge digital assets with tangible world benefits. As the UAE continues to fortify its status as a global leader in digital assets, the TON Golden Visa program exemplifies the innovative steps being taken to integrate crypto into mainstream socio-economic structures.