UAE Golden Visa: TON Says Initiative Not Backed by Government
Overview
The TON Foundation has clarified its position on the proposed UAE Golden Visa initiative, stating that the program is currently in early development and is being pursued independently, without any official endorsement from the United Arab Emirates government. This clarification comes in response to public denials from UAE authorities and underscores the need for careful verification of official sources when discussing residency or investment visa opportunities.
The foundation explained that it is engaged in preliminary discussions with a licensed local partner, but emphasized that the project remains strictly exploratory. Any formal approval, they noted, would fall entirely under the jurisdiction of UAE government agencies and regulatory authorities.
TON Foundation Clarifies Its Position
The organization behind The Open Network (TON) released a detailed statement over the weekend to clarify its role in what was previously described as a new legal residency initiative for crypto investors in the UAE.
In the blog post, the TON Foundation explained that it was in the “early stages of development” with a licensed local partner to explore the possibility of introducing a UAE Golden Visa program. However, the foundation stressed that any such effort would be fully subject to UAE laws and regulations, and that no official approval or governmental support had been granted at this stage.
“To clarify, no official Golden Visa program has been launched in partnership with the government of the United Arab Emirates, nor has any governmental endorsement been granted to TON,” the foundation stated. This announcement marks a clear effort by the foundation to distance itself from misleading interpretations of its earlier messaging.
Response from UAE Authorities
The clarification came less than 48 hours after TON’s initial announcement, which claimed the launch of a program offering 10-year UAE Golden Visas to qualified applicants. That announcement quickly drew attention—and scrutiny—from multiple UAE regulatory agencies.
In a joint statement, the Federal Authority for Identity, Citizenship, Customs and Port Security, the Securities and Commodities Authority, and the Virtual Assets Regulatory Authority (VARA) made it clear that no visas are currently being issued to digital asset holders under any formal government initiative.
UAE cryptocurrency investment visa controversy Source: The Economic Times
The controversy intensified after several well-known figures in the cryptocurrency space voiced skepticism about the program. Changpeng “CZ” Zhao, former CEO of Binance, publicly questioned its legitimacy. Shortly after, Telegram CEO Pavel Durov retweeted a post on X (formerly Twitter) promoting the visa offer, a move that appeared to lend credibility to the claim and significantly increased public interest.
Cost Comparison and Alternatives
It’s unclear whether the TON Foundation may coordinate its efforts with the UAE government in the future. Their offer of a golden visa using $100,000 in staked Toncoin could be significantly cheaper than conventional routes through official channels, which often require a minimum $540,000 investment in illiquid assets.
Appeal of “Gold Cards” and Golden Visas to Crypto Investors
The idea of using cryptocurrency as a path to residency or citizenship has been gaining popularity worldwide, especially among crypto-native investors seeking legal stability and financial freedom.
In Portugal, for example, the Golden Residence Permit Program has offered a pathway to citizenship for non-EU nationals who invest €500,000 or more, including in crypto-related assets under specific conditions.
Meanwhile, in the United States, President Donald Trump unveiled a “Gold Card” program in February 2025. This initiative allows individuals willing to invest $5 million or more to obtain U.S. legal residency. According to Commerce Secretary Howard Lutnick, the program had already attracted over 70,000 applicants as of June 17.
