New Delhi, July 8 -- The United Arab Emirates government has started a brand new Golden Visa for Indians, which will be based on nomination, as opposed to spending large sums of money on buying a property or investing in the country.

India and Bangladesh have been selected for the first phase of testing this visa, and a consultancy named Rayad Group has been chosen to test the initial form of the nomination-based golden visa in India.

Golden visas are often popular among those who want to leave their country and settle abroad permanently.

A golden visa gives high-net-worth individuals (HNWIs) the option of physically relocating to a country of their choice either right away or after their retirement.

When they acquire the golden visa,...