TON Foundation offers path to 10-year UAE 'Golden Visa' for $100k in staked TON, $35k fee; UAE denies eligibility

The Open Network Foundation, or TON Foundation, announced a new program providing a pathway to a 10-year "Golden Visa" to the United Arab Emirates for investors who stake $100,000 in Toncoin (TON) and pay a $35,000 processing fee. 

The TON Golden Visa is a "unique and exclusive route for the UAE Golden Visa program," Ehsan Sattari, the founder and CEO of crypto-native travel firm Peravel, the program's partner, told The Block in a Telegram message. UAE Golden Visas typically require applicants to qualify by making real estate or entrepreneurial investments, showcasing extraordinary educational or career achievement, or owning a large yacht, among other methods. The visa allows holders, alongside their families and domestic staff, to live and work in the UAE.

"There is no requirement for holding a specific profession, degree, or job offer set by the government for [the TON Golden Visa route]," Sattari said, noting that applicants would still have to submit standard personal documents for verification by UAE authorities. "Approval or rejection is ultimately at their discretion."

The UAE government released a statement through Emirates News Agency, its state-run wire service, denying that digital currency investors are eligible for Golden Visas. "The authority further confirmed that digital currency investments are governed by specific regulations and are unrelated to golden visa eligibility," the news item reads. 

"We work strictly within the government’s authorized and approved Golden Visa process. The method itself is fully compliant with official policies and requirements," Sattari said. "TON Foundation, which is based in Dubai, has established this connection, and formal public announcements are expected through TON’s own official channels soon." (A PR representative from TON said additional information would be provided on Monday; no official statement was received by publication time.)

TON Foundation's program site notes that the $100,000 in staked TON would be unlocked after three years, and that investors will receive staking rewards of "an estimated 3–4% APY" while the tokens are locked. While the process typically takes a few months or longer, the site advertises visa approval within seven weeks of document submission. 

Binance founder Changpeng "CZ" Zhao said on X that if the program is an official partnership with the UAE, "we will definitely try to get it on BNB too." 

TON-related accounts assured CZ on X that the program is legitimate, and Telegram CEO Pavel Durov reposted the announcement. "A big thank you to our partners in the UAE for their vision, support, and trust," wrote TON Foundation CEO Max Crown. 

The price of Toncoin has risen over 5% in the past 24 hours, according to The Block's Toncoin Price page, following the reveal of the program. 

Updated 5:23 pm EST with details of the UAE government's statement.