PremiumThe new system for residence visas and entry permits offers new types of residence permits for investors, skilled employees, self-employment and family members. The new types provide customized benefits to each category
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To attract and retain global talents and skilled workers from all over the world, and boost competitiveness, the United Arab Emirates (UAE) today approved regulations on the entry and residence of foreigners. The move aims to give expatriates a bigger stake in the UAE economy.
“The new system of entry and residence aims at attracting and retaining global talents and skilled workers from all over the world, and boosting the competitiveness and flexibility of the job market and fostering high sense of stability among UAE residents and families," the UAE said in a statement.
The new model, in some cases, ends the need to acquire sponsorship for new arrivals.
Golden Residence Scheme
The golden residence scheme has simplified the eligibility criteria and expanded the categories of beneficiaries. The 10-year residence is granted to investors, entrepreneurs, exceptional talents, scientists and professionals, outstanding students and graduates, humanitarian pioneers and the first-line heroes. The amendments allow golden residence holder to sponsor family members.
In the new system, there is no restriction related to the maximum duration of stay outside the UAE in order to keep the golden residence valid.
Real estate investors can obtain golden residence when purchasing a property worth no less than 2 million dirhams ($544,500)
Green visa for skilled employees and freelancers
The scheme provides 5-year residency for freelancers and self-employed individuals without requiring a sponsor or employer in the UAE. The scheme further provides 5-year residency —instead of the earlier 2 years—for investors establishing or participating in commercial activities.
To attract talents, the scheme also provides 5-year residence visa to skilled professionals, freelancers, investors and entrepreneurs.
New entry visas
The new system also introduces new types of visas that don't require a host or sponsor for the first time. In addition, all entry visas are available for single or multiple entry and can be renewed for similar period and are valid for 60 days from their issuance date
Job exploration visa does not require a sponsor or a host. It is granted to those classified in the first or second or third skill level as per the Ministry of Human Resources and Emiratisation. Minimum educational level should be a bachelor’s degree or its equivalent
Business entry visas provide entry without requiring sponsor or host to encourage investors and entrepreneurs to explore business and investment opportunities in the UAE
Under the tourist visas, the new system has introduced 5-year multi-entry tourist visa and it does not require a sponsor; requires proof of having a bank balance of $4,000 or its equivalent.
Foreign residents make up more than 80% of the population of the UAE and have been a mainstay of the economy for decades. The UAE comprises seven sheikhdoms, including Dubai and Abu Dhabi.
