UAE Golden Visa System Expanded: New Visa Rules & Regulations
The UAE Cabinet, headed by Sheikh Mohammed bin Rashid Al Maktoum has approved the executive regulations of the Federal Decree-Law on Entry and Residence of Foreigners.
New Visa System
The new visa system aims at:
- Attracting and retaining global talents and skilled workers from all over the world.
- Boosting the competitiveness & flexibility of the job market.
- Fostering a high sense of stability among UAE residents and families.
Amendments
The UAE has announced substantial amendments to its Golden Visa scheme. The amendments based on the:
1. Eligibility criteria
2. Expand the categories of beneficiaries.
The amendments allow the Golden Visa holders to sponsor:
- His/her family members including spouse and children regardless of their age.
- Unlimited number of support services.
Long-term, 10-Year Residency
Ten year residency granted to:
1. Investors
2. Entrepreneurs
3. Exceptional Talents
4. Scientists
5. Professionals
6. Graduates
7. Humanitarian Pioneers
8. Frontline Heroes
Golden Visa For Professionals
The scheme is introduced in this category to attract:
- Highly skilled workers with educational qualifications
- Professional experience in all disciplines.
Rules
1. Applicants should have a valid employment contract in the UAE.
2. He/ she is classified in the first or second occupational level as per the Ministry of Human Resources and Emiratisation classification.
3. Minimum educational level must be a bachelor’s degree or equivalent.
4. Mmonthly salary should not be less than Dh30,000.
Golden Visa For Exceptional Talents
1. This residence is granted to top talents in vital fields.
2. Awarded based on talent only.
3. Educational qualification, employment status, monthly salary or professional level are no bar.
4. Requires the recommendation or approval of a federal or local government entity.
5. Includes talented individuals in culture, art, sports, digital technology, inventors and innovators and other vital fields.
Golden Visa For Real Estate Investors
Real estate investors can obtain Golden Residence when purchasing a property that is worth no less than Dh2 million.
Rules
1. Investors are entitled to obtain the long-term visa when purchasing a property with a loan from specific local banks.
2. Investors can get the residence when buying one or more off-plan properties of no less than Dh2 million from approved local real estate companies.
Golden Visa For Entrepreneurs
Rules
1. An entrepreneur should own or be a partner in a startup registered in the country in the category of small and medium enterprises and generates annual revenues of not less than Dh1 million.
2. 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.
Golden Visa For Outstanding students and graduates
Rules
1. Targeting the high performing students in UAE secondary schools, and outstanding graduates from UAE universities.
2. Also from the best 100 universities worldwide according to specific criteria.
Golden Visa For Scientists
- Visa granted to scientists and researchers with high achievements .
- Influence in scientific field based on recommendation from the Emirates Scientists Council.
- Visa granted to 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. The candidate should have substantial research achievements.
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