Key Points:
$TON confirms no official partnership with the UAE government for a Golden Visa program
UAE’s official Golden Visa requires a minimum $540,000 investment in illiquid assets
Over 70,000 applicants have reportedly expressed interest in the U.S. “Golden Card” program
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The Open Network (TON) Foundation, the organization behind the Toncoin blockchain, has issued a formal statement addressing widespread confusion regarding its alleged involvement in a UAE “Golden Visa” initiative. The foundation emphasized that no such program has been launched or endorsed by the UAE government.
> “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 stated in an official blog post.
According to #TON , the concept is still in its preliminary phase and has not received official approval from any UAE governmental body. Any such program would need to fully comply with local regulations before moving forward.
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Misleading Announcement and Regulatory Response
The confusion originated from an announcement published on the Toncoin website, which claimed that users could obtain a 10-year UAE Golden Visa by depositing a minimum of $100,000 in Toncoin for three years, alongside a one-time processing fee of $35,000. The post was widely circulated after being retweeted by Telegram CEO Pavel Durov, further amplifying public interest.
However, the claim quickly prompted a unified response from three UAE regulatory authorities:
The Federal Authority for Identity, Citizenship, Customs & Port Security (ICP)
The Securities and Commodities Authority (SCA)
The Virtual Assets Regulatory Authority (VARA)
The authorities issued a joint statement clarifying that no digital asset-based visa program has been approved by the UAE government.
TON subsequently issued a follow-up clarification, aligning itself with the UAE’s official stance and affirming that no digital residency or investment visa initiatives had received formal authorization.
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A Pattern of Premature Announcements
This episode is not isolated. In May, Durov claimed that Telegram had secured a partnership with Elon Musk’s xAI initiative. Musk later stated publicly that no such agreement had been finalized, underscoring a pattern of premature announcements from the Telegram founder.
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The UAE Golden Visa: Current Criteria
Launched in 2019, the UAE’s Golden Visa offers foreign nationals the ability to live, work, and study in the Emirates without a national sponsor. The visa, which is valid for five to ten years, targets highly skilled professionals, entrepreneurs, and significant investors.
Eligibility requirements are stringent. For investors, this typically includes a minimum $540,000 investment in illiquid assets, as well as clear evidence of business or professional contributions to the UAE economy.
By contrast, the now-retracted Toncoin proposal featured substantially lower financial requirements, leading to questions about its legitimacy and regulatory compliance.
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Global Trends in Crypto-Based Residency
While the UAE distances itself from unofficial crypto-residency proposals, other nations are exploring similar models:
United States: Former President Donald Trump recently introduced a “Golden Card” initiative, granting permanent residency in exchange for a $5 million minimum investment. As of mid-June, more than 70,000 applications have reportedly been submitted, according to U.S. Commerce Secretary Howard Lutnick.
Portugal: The country’s Golden Residence Permit allows non-EU nationals to apply for residency through a five-year program that accepts various investment types—including cryptocurrency holdings—with a minimum threshold of $500,000.
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What Lies Ahead for TON?
At present, TON’s proposed visa initiative remains unapproved and unofficial, with no confirmed cooperation from UAE authorities. This incident highlights the critical importance of transparency, regulatory compliance, and accurate public communication when developing programs that intersect with national immigration policies and cryptocurrency investments.
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