The Open Network (TON) Foundation recently claimed: as long as you stake $100,000 worth of Toncoin (TON) and pay a one-time fee of $35,000, you can apply for a 10-year golden visa for the United Arab Emirates (UAE). Following the announcement, the price of TON surged over 12% that day; however, it was met with skepticism from the crypto community and denials from official agencies.
Promoting 'no educational requirements, no job titles, no job offers!'
According to the announcement from the TON Foundation, this plan called 'TON Golden Visa' is an exclusive scheme launched in partnership with cryptocurrency travel startup Peravel. Peravel CEO Ehsan Sattari emphasized to the media:
This is an exclusive channel for applying for the 'UAE golden visa', where applicants do not need a specific professional background, education, or job offer. As long as they complete the TON staking and submit basic personal information, they can submit their application. Approval is ultimately decided solely by the UAE government.
Ehsan Sattari further stated: 'We are strictly following the government-authorized and approved golden visa process. This process is fully in line with official policies and requirements. The TGON Foundation, based in Dubai, has established contacts with local institutions, and details will be released through official channels.'
As of the time of writing, there has been no legally binding authorization or formal announcement seen.
UAE official clarification: Cryptocurrency investment does not meet eligibility requirements
In response, the UAE government issued an official statement through the state-owned Emirates News Agency, denying that cryptocurrency investors are qualified to apply for a golden visa. The press release stated:
Authorities further confirmed that digital currency investment is governed by specific regulations and is not related to golden visa eligibility.
In other words, the so-called 'staking TON to apply for a golden visa' has not received official recognition and cannot replace the formal process. The so-called 'exclusive channel' for TON still requires final government approval, with no guarantees.
'TON Golden Visa' vs. UAE official golden visa
According to the information on the official website of the 'TON Golden Visa', the $100,000 TON staking fund will be unlocked after 3 years, during which investors can earn about 3% to 4% annual staking returns, and they claim that the visa can be approved within 7 weeks after submission of the application.
Generally speaking, the threshold for applying for the UAE golden visa is not low. It requires at least $540,000 in real estate investment or fixed deposits, and most applicants must also have outstanding academic or career performance. The review process often takes 3 to 6 months, and successful applicants can reside and work legally with their families.
CZ: Procedures in doubt, government not authorized, 'Trust, but verify'
Regarding the 'TON golden visa', Binance founder Zhao Changpeng (CZ) suggested to 'exercise caution,' pointing out several potential concerns, including whether the $35,000 fee is officially collected or merely paid to an agent; the website's wording may also mislead the public into thinking that staking TON guarantees the issuance of a visa.
CZ further reminded that the UAE has categorized cryptocurrency staking as a 'regulated activity', and whether TON has obtained relevant licenses locally remains unknown.
In subsequent posts, CZ reiterated a cautiously optimistic attitude, believing that the potential of this plan is worth attention; however, official cooperation and clear announcements from the government are key to judging its legitimacy, which has yet to be confirmed. He summarized his position with the phrase 'Trust, but verify' — neither fully denying nor blindly believing the rhetoric.
The crypto community dissects the truth behind the 'TON golden visa'
Additionally, the crypto community has provided an in-depth analysis of the authenticity of 'staking TON for a visa'. Some users compiled reports from various foreign media indicating that this plan is actually just a 'private commercial scheme' initiated by a third-party visa agency, with TON staking merely packaged as a 'symbol of investment activity' with no formal cooperation with the UAE government, let alone official endorsement.
The post emphasizes that there are no visa options related to TON appearing in the UAE Identity and Citizenship Authority (ICP), Dubai General Directorate of Residency and Foreigners Affairs (GDRFA), or the official app Dubai Now. This service is entirely operated by private entities, with no government authorization or involvement, and the risks and responsibilities are borne by individuals. Investors should carefully assess their legal risks and actual effectiveness.
Private agency, government not endorsing
Investment institution Sigil Fund partner @JoeHedgedHog further commented that this is not an official collaboration with the UAE government, but rather assistance from a third-party law firm to apply for a golden visa as an 'entrepreneur', with TON merely used as a staking tool, not a government-designated cryptocurrency. He pointed out:
This company is just using the name of TON to package the golden visa; frankly, they could use FARTCOIN and it would work just as well.
@JoeHedgedHog emphasized that if it weren't for TON, it could be any cryptocurrency; the focus is on the application process handled by the legal institution, rather than the official assurance provided by TON. This makes the staking requirement seem more like a marketing design to increase 'practical scenarios' for TON.
Gearbox Protocol's head of strategy and business development @ivangbi_ further pointed out that the real risk of this model is that 'the $35,000 is a non-refundable legal fee', and TON staking is not a necessary condition but just a part of the scheme. Moreover, the UAE's golden visa review standards may have been updated, and relying solely on staking may not constitute qualifying eligibility.
Furthermore, the 'entrepreneur' visa corresponding to the 'TON Golden Visa' actually has clear and strict review standards. According to current regulations, this visa mainly targets applicants with technical or innovative economic projects and must submit three key documents:
Audit reports issued by qualified auditors in the UAE proving the project value reaches 500,000 dirhams (AED);
Documents certifying the project's innovative nature recognized by local authorities;
Landing operation consent letters issued by certified UAE incubators.
In this context, claiming that one can obtain a golden visa solely by staking TON and paying a fee is overly simplistic and significantly deviates from current regulations.
'Staking $100,000 TON for a golden visa? UAE officials deny, crypto community raises doubts.' This article was first published on (BlockKe).
