In this article:

🔹 TON confirms no official "Golden Visa" program has been launched in partnership with the UAE government

🔹 The official UAE Golden Visa requires a minimum investment of $540,000 in illiquid assets

🔹 Over 70,000 people have reportedly applied for the U.S. "Golden Card" program

The Open Network (TON) Foundation, the organization behind the Toncoin blockchain project, has issued a statement addressing widespread confusion over its alleged involvement in a “Golden Visa” initiative in the United Arab Emirates. TON clarified that no such program has been officially launched in collaboration with UAE authorities.

"TON is aware of the premature announcement that appeared on X regarding the UAE Golden Visa initiative offered by TON. We appreciate the community’s interest and enthusiasm, but it is important to clarify the facts," the foundation wrote in a blog post.

According to TON, the initiative is still in its early stages and would require full approval from official UAE government bodies, in compliance with local laws and regulations. As of now, TON has no official endorsement for this visa plan.

Toncoin's Alleged Visa Plan Triggers UAE Government Response

The original announcement on the Toncoin website claimed that holders could apply for a 10-year UAE Golden Visa by depositing at least $100,000 in Toncoin for three years and paying a one-time processing fee of $35,000. Telegram CEO Pavel Durov retweeted the post on X, which amplified public interest.

However, three UAE regulatory authorities — the Federal Authority for Identity, Citizenship, Customs & Port Security (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA) — issued a joint statement declaring that no digital asset-based visa program had been approved.

TON then released a follow-up statement confirming its support for the official stance and emphasizing that no digital residency or investment visa initiatives had been formally approved.

Durov Has Jumped the Gun Before

This is not the first time Pavel Durov has prematurely announced a major partnership. In May, he claimed that Telegram had partnered with Elon Musk’s xAI. Musk later clarified that no such agreement had been finalized.

UAE Golden Visa: Who Qualifies?

The UAE’s Golden Visa, introduced in 2019, allows foreigners to live, work, and study in the Emirates without a national sponsor. It is valid for five to ten years and aims to attract highly skilled professionals, entrepreneurs, and investors.

Eligibility requires meeting strict criteria — for instance, being a doctor, scientist, or government-recognized tech startup founder. Investors must usually show at least $540,000 in illiquid assets to qualify.

TON’s now-suspended offer, in contrast, proposed significantly lower requirements, raising questions about its legitimacy and regulatory oversight.

Other Countries and Crypto-Based Residency

While the UAE responds to unapproved crypto-residency proposals, other nations have embraced similar concepts:

🔹 In the United States, President Trump recently announced a “Golden Card” program offering permanent residency in exchange for a minimum $5 million investment. According to U.S. Commerce Secretary Howard Lutnick, over 70,000 people have already applied as of mid-June.

🔹 Portugal allows non-EU citizens to apply for residency through its five-year Golden Residence Permit, which accepts investments of over $500,000, including in cryptocurrencies.

What’s Next for TON?

It remains uncertain whether TON will secure official cooperation with the UAE in the future. But this situation has clearly demonstrated the need for transparency and caution when dealing with visa programs tied to cryptocurrencies.



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