(The Block) reported: The TON Foundation launches the "golden visa" program, where investing $100,000 in Toncoin can grant UAE residency for 10 years.
The Open Network Foundation (TON Foundation) announced a new program: anyone who stakes $100,000 in Toncoin (TON) and pays a processing fee of $35,000 can apply for a 10-year "golden visa" in the UAE.
This program, named "TON Golden Visa," was launched in collaboration between the TON Foundation and the crypto travel company Peravel. Peravel's founder and CEO Ehsan Sattari told (The Block) on Telegram: "This is a unique and exclusive pathway to the UAE's golden visa program."
The UAE golden visa typically requires applicants to meet criteria such as:
Real estate or business investments,
Outstanding academic or professional achievements,
or ownership of large yachts and other conditions.
However, under the TON pathway, there is no need to have specific professions, educational qualifications, or job invitations. Sattari added that applicants still need to submit standard personal documents, and the final approval of the visa will be determined by the UAE government.
The UAE government responded by stating that "crypto investments do not constitute a basis for visas"
However, the UAE's official media, Emirates News Agency, subsequently issued a statement saying: "Investing in digital currencies does not constitute a legitimate basis for applying for a golden visa." It also pointed out that such investments "are subject to specific regulations and are unrelated to the qualifications for a golden visa."
In response, Sattari stated: "We strictly adhere to the government-approved golden visa process. This method fully complies with official policies and regulations." He also mentioned that the TON Foundation is headquartered in Dubai and has already established a channel connection with the authorities, expecting to issue an official announcement through TON's official channels.
TON's official website indicates that the staked $100,000 Toncoin will be unlocked after 3 years, during which time it can earn an annual staking yield of 3-4%. Although approval usually takes a few months, the website promises that it can be approved as quickly as 7 weeks from the submission of documents.
Industry response has been enthusiastic, with the TON token rising 5%
After the announcement, the price of the TON token rose by more than 5% within 24 hours. Telegram founder Pavel Durov also shared the news. TON Foundation CEO Max Crown stated: "A heartfelt thanks to the UAE partners for their vision, support, and trust."
Binance founder CZ (Changpeng Zhao) stated on the X platform that if this is indeed an official collaboration, "we will also strive to expand this program to BNB." The community accounts related to TON responded that the plan is "indeed legitimate" and encouraged more people to participate.
