UAE amends golden visa scheme: 7 types

  DUBAI – The UAE Cabinet has approved new executive regulations on entry visas and residence visas, including “substantial amendments” to the golden visa scheme. The Cabinet announced details about the executive regulations on Monday (April 18). The new system of entry and residence aims at attracting and retaining global talents and skilled workers from all over the world, boosting the competitiveness and flexibility of the job market and fostering a high sense of stability among UAE residents and families. The executive regulations of the Federal Decree-Law on Entry and Residence of Foreigners shall come into force after ninety days from the date of its publication in the Official Gazette.

UAE Golden Residence Visa

Substantial amendments are introduced to the Golden Residence Scheme to simplify the eligibility criteria and expand the categories of beneficiaries. This long-term 10-year residence is granted to investors, entrepreneurs, exceptional talents, scientists and professionals, outstanding students and graduates, humanitarian pioneers and frontline heroes. ALSO READ: No sponsor needed for UAE visit visa The amendments allow the Golden Residence holder to sponsor his or her family members, including spouse and children regardless of their age, and to sponsor support services (domestic) labourers without limiting their number. There is no restriction related to the maximum duration of stay outside the UAE in order to keep the Golden Residence valid. There are other benefits for family members that allow them to stay in the UAE in the event of the death of the original holder of the Golden Residence until the end of their permit duration.

UAE Golden Residence Visa for scientists

This residence is granted to scientists and researchers with high achievements and influence in their field based on recommendation from the Emirates Scientists Council. The candidate should have a PhD or master’s degree in the disciplines of engineering, technology, life sciences and natural sciences from the best universities in the world, as well as substantial research achievements.

UAE Golden Residence Visa for professionals

A major expansion is introduced in this category to attract highly skilled workers with educational qualifications and professional experience in all disciplines, including medicine, sciences and engineering, information technology, business and administration, education, law, culture and social sciences. The applicants should have a valid employment contract in the UAE, and should be classified in the first or second occupational level as per the Ministry of Human Resources and Emiratisation classification, which is aligned with the International Standard of Classification of Occupations ISCO by the International Labour Organisation. The minimum educational level must be a bachelor’s degree or equivalent, and the monthly salary should not be less than Dh30,000.

UAE Golden Residence Visa for exceptional talents

This residence is granted to top talents in vital fields. It is awarded based on talent only regardless of the educational qualification, employment status, monthly salary or professional level. ALSO READ: New UAE jobseeker entry visa introduced It requires the recommendation or approval of a federal or local government entity, and includes talented individuals in culture, art, sports, digital technology, inventors and innovators and other vital fields.

UAE Golden Residence Visa for real estate investors

Real estate investors can obtain Golden Residence when purchasing a property worth no less than Dh2 million. As per the new amendments, investors are also entitled to obtain the Golden Residence when purchasing a property with a loan from specific local banks. Investors can also obtain Golden Residence when buying one or more off-plan properties of no less than Dh2 million from approved local real estate companies.

UAE Golden Residence Visa for entrepreneurs

The executive regulations set flexible requirements for entrepreneurs eligible to obtain the Golden Residence; an entrepreneur should own or be a partner in a startup registered in the country in the small and medium enterprises (SMEs) category and generates annual revenues of not less than Dh1 million. In addition, obtaining approval for a startup idea from an official business incubator or from the Ministry of Economy or the competent local authorities is sufficient to obtain the Golden Residence in this category. Moreover, if the person is a founder (one of the founders) of a previous entrepreneurial project(s) that was sold for a total of not less than Dh7 million, he/she will be entitled to the Golden Residence. The approval of the Ministry of Economy or the competent local authorities is required for projects or ideas.

UAE Golden Visa for outstanding students and graduates

This residence targets high performing students in UAE secondary schools, and outstanding graduates from UAE universities and the best 100 universities worldwide, according to specific criteria that includes their academic performance (cumulative average), the year of graduation, and the university classification. ICA/Expat Media
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