UAE is an attractive place to reside because of its vibrant hospitality industry, inner-city beaches, and skyscrapers. However, the ex-pats are drawn to the United Arab Emirates because of its thriving economy that plays an increasingly important role in both tourism and international commerce. By introducing a restructuring of its entry and residence system, the UAE continues its stride in becoming the ideal destination for investment, entrepreneurship, education, work, and life. The UAE has expanded the golden visa categories and implemented new visa rules. This blog details the new UAE golden visa rule.
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New Visa Rules in UAE
The UAE cabinet has approved the executive regulations of the Federal Decree Law on the entry and Residence of Foreigners known as the advanced visa system, to enhance UAE’s position as a favorable destination to work, invest, and live. Around ten types of new entry visas and residence permits have been introduced by the UAE which has also expanded the Golden visa categories.
To attract and retain global talents and skilled workers from all over the world, the new system of entry and residence boosts the flexibility and competitiveness of the job market in the UAE. Also, among UAE residents and families, they foster a high sense of stability.
The UAE has announced the Golden Visa in 2018 to the delight of many expatriates residing in Abu Dhabi and Dubai giving long-term residence permits to highly valued foreigners. However, the UAE cabinet announced a new set of executive regulations in April 2022 which would be enforced in October 2022 regarding entry permits and long-term residence for expatriates. The UAE has widened the number of people who can apply for long-term visas in several professions, positions, and categories while also broadening the qualifying criteria for applying for long-term visas.
To empower Emirati SMEs and further develop the business sector in the UAE, the new visa and entry rules are specifically implemented as an incentive.
Changes in New UAE Golden Visa
While enjoying exclusive benefits, the Golden Visa in the UAE enables foreign talents to live, work, and study as it is a long-term residence visa.
To simplify the eligibility criteria and expand the categories of beneficiaries, the UAE has expanded the golden visa categories and added substantial amendments to the golden residence scheme. Those people who are eligible for the Golden visa are entrepreneurs, investors, outstanding students and graduates, scientists, humanitarian pioneers, and frontline heroes.
For foreign skilled professionals, the golden visa allows them to live in the UAE for work and education for up to 10 years. The UAE has also lowered the minimum salary requirement for this visa from Dh50,000 to Dh30,000.
A golden visa card holder can stay outside the nation for an indefinite period according to the new rule. Earlier, for those who stayed outside the UAE for 6 and more months, the visa used to be invalid. Most importantly, there is no restriction on the number of domestic workers they can sponsor. For 10 years, the golden visa owners can sponsor their family members and children regardless of their ages. They can sponsor their children up to the age of 25 years and there is no age limit for unmarried daughters. There is an increase from the previous rule of 18 years to 25 years.
According to the new rule in the golden visa, the family members of the golden visa holders would be permitted to stay in the country even if the residence holder passes away for the duration of their permit. Also, golden visa holders have the privilege of not needing a sponsor as it is a self-sponsored visa and there is no need for an employment sponsor. For golden visa holders and their family members, the grace period after the residence visa expiry in the UAE has been extended for ex-pats from 30 days to 6 months.
Eligibility Criteria of UAE Golden Visa
Currently, seven categories of people are awarded the golden visa. When purchasing a property worth no less than AED 2 million, real estate investors can obtain a golden residence visa. When purchasing a property with a loan from specific local banks, the investors are also entitled to obtain the golden residence as per the new amendments. This golden visa is also a very benefit for Company Setup in Dubai.Also, when busting one or more off-plan properties of no less than AED 2 million from approved local real estate companies, they are eligible for a golden visa.
Based on the recommendation from the Emirates Scientists Council, scientists and researchers with high achievements and influence in their field will be granted the UAE Golden Visa. For this, the candidate must have a Ph.D. or a master’s degree from the best universities in the world and substantial research achievements in the disciplines of engineering, technology, natural sciences, or life sciences.
Individuals who are also eligible to apply for the golden visa schemes have outstanding talent in the fields of digital technology, sports, innovation, culture, art, medicine, and law. Exclusively based on an individual’s talent, the visa will be granted and would not be influenced by professional status, educational background, monthly income, or employment status.
Students who are also eligible to apply for the 10-year visa achieved remarkable academic success in either UAE secondary schools or universities. Also, talented individuals granted golden visas who have attended one of the world’s top 100 universities. Under the new rules issued by the UAE government, frontline workers with extraordinary efforts in crisis can also get the golden visa.
Humanitarian pioneers are also eligible as per the UAE government under the new Golden Visa rules. They include renowned humanitarian volunteers, prominent members of public benefit organizations, and distinguished members of prestigious regional and international organizations. Skilled workers may be eligible for the golden visa if they have a bachelor’s degree, and have a valid contract of employment in the UAE. Also, their monthly salary must be at least AED 30,000.