Dubai: The UAE cabinet, headed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved the executive regulations of the Federal Decree-Law on Entry and Residence of Foreigners aimed at strengthening the UAE position as an ideal destination to live, work, and invest.
The executive regulations detail the various forms of entry visas and residency permits, as well as their terms and conditions. The new entry and residence system aims to recruit and retain global talents and skilled employees from all over the world, as well as increase the employment market’s competitiveness and flexibility and nurture a strong sense of security among UAE citizens and families.
The Golden Residence Scheme has undergone significant changes to streamline the eligibility conditions and increase the categories of recipients. Investors, entrepreneurs, remarkable talents, scientists and professionals, great students and graduates, humanitarian pioneers, and front line heroes are all eligible for this long-term 10-year residency.
The modifications allow the holder of a Golden Residence to sponsor his or her family members, including spouses and children, regardless of age, as well as support services (domestic) laborers in unlimited numbers. Furthermore, there are no time limits on how long you can stay outside the UAE in order to keep your Golden Residence active.
Golden Residence for Scientists
On the advice of the Emirates Scientists Council, this is offered to scientists and researchers with significant achievements and influence in their fields.
The candidate should have a Ph.D. or master’s degree in engineering, technology, biological sciences, or natural sciences from one of the world’s top universities. The candidate should have a track record of significant research accomplishments.
Golden Residence for Professionals
The applicants must have a valid UAE employment contract and be classified in the first or second occupational level, according to the Ministry of Human Resources and Emiratization’s classification, which is aligned with the International Labor Organization’s International Standard of Classification of Occupations ISCO.
A bachelor’s degree or equivalent is required as a minimum educational level, and the monthly compensation should not be less than (30) thirty thousand dirhams.
Golden Residence for Exceptional Talents
This residency is only given to the best and brightest in critical disciplines. It is given only on the basis of talent, independent of educational qualifications, employment situation, monthly wage, or professional level.
It covers talented individuals in culture, art, sports, digital technology, inventors and innovators, and other key disciplines, and it requires the suggestion or permission of a federal or local government organization.
Golden Residence for Real Estate Investors
Golden Residence is available to real estate investors who purchase a property worth at least AED2 million.
According to the proposed modifications, investors can also get the Golden Residence if they buy a home with a loan from one of the local banks. Golden Residence can also be obtained by purchasing one or more off-plan residences worth at least AED2 million from recognized local real estate companies.
Golden Residence for Entrepreneurs
The executive laws establish flexible standards for entrepreneurs seeking the Golden Residence; an entrepreneur must own or be a partner in a startup that is registered in the country as a small or medium firm SME and generates yearly revenues of at least AED1 million.
Golden Visa for Outstanding Students and Graduates
This visa is designed for high-achieving students in UAE secondary schools, as well as outstanding graduates from UAE universities and the world’s top 100 institutions, based on specified criteria such as academic achievement (cumulative average), graduation year, and university classification.
New Residence Visa Types with New Benefits
New 5-year residence tracks have been introduced to attract talents, skilled professionals, freelancers, investors, and entrepreneurs. In addition to facilitating and simplifying the requirements of all residence kinds, further incentives are offered to enable family members’ residence, including lengthier flexible grace periods of up to 6 months to stay in the nation after the residence permit is cancelled or expired.
Green Residence for Skilled Employee
A new program that offers talented employees a five-year residency without the need for a sponsor or employer. According to the Ministry of Human Resources and Emiratisation, applicants must have a valid employment contract and be classed in the first, second, or third occupational level.
A bachelor’s degree or equivalent is required as a minimum educational level, and the remuneration should not be less than fifteen thousand dirhams.
Green Residence for Freelancing and Self-Employment
It necessitates obtaining a freelance/self-employment permit from the Ministry of Human Resources and Emiratisation, a bachelor’s degree or specialized diploma, and annual self-employment income of not less than AED360,000 for the previous two years, or the applicant demonstrating financial solvency throughout his stay in the country.
Green Residence for Investor or Partner
This residence was created to stimulate investment, and it offers 5 years of residency to investors who start or participate in commercial enterprises. It takes the place of the prior residence, which was only valid for two years.
Approval of the investment and proof of investment are among the requirements. The total invested capital will be determined if the investor (partner) owns more than one license. The approval of the appropriate municipal authorities is required.
New Benefits for Family Members
The new arrangement gives family members extra benefits. A resident’s family members, including his or her spouse and children, are welcome to join him or her.
Children’s ages have been elevated to 25 (from 18) years old, with no age limit for unmarried daughters. Regardless of their age, children of determination are awarded a residence visa.
The New System for Entry Visas
The new system provides UAE travelers with a number of visa options for various visits. For the first time, new categories of visas are introduced that do not require a host or sponsor. The entry requirements for all visa kinds have been simplified, and visa durations have been made more flexible to fit the needs of visitors and the purpose of their visit. Furthermore, all entrance visas can be used for single or multiple entries, can be renewed for identical periods, and are valid for 60 days from the date of issuance.
Job Exploration Entry Visa
This visa was created with the intention of inviting young talents and skilled professionals to the country to explore career prospects. It does not require a sponsor or a host. It is given to people rated in the first, second, or third skill levels by the Ministry of Human Resources and Emiratisation, as well as fresh graduates of the world’s top 500 universities, with a bachelor’s degree or its equivalent as the minimum educational level.
Business Entry Visa
To encourage investors and entrepreneurs to explore business and investment opportunities in the UAE, the UAE has made it easy to enter without requiring a sponsor or host.
A five-year multi-entry tourist visa was created in addition to the ordinary tourist visa sponsored by tourism establishments in the UAE.
This type does not require a sponsor and permits the person to stay in the nation for up to 90 days in a row, with the option to extend for another 90 days, as long as the total stay does not exceed 180 days in a year.
This visa requires verification of a bank balance of $4,000 or its equivalent in foreign currencies for the six months preceding application submission.
Entry Permit to Visit Relatives or Friends
A visitor can apply for this entry permission if he or she is a relative or acquaintance of a UAE citizen or resident, according to the current revision. It does not necessitate the involvement of a sponsor or a host.
Permission to Enter for a Temporary Work Mission
This type is for employees who are on a temporary job assignment, such as probation testing or a project-based mission, and who are sponsored by their business. It necessitates a temporary employment contract or a letter from the employer outlining the purpose of the visit, as well as proof of physical fitness to work.
Entry Permit for Study and Training
The sponsor might be universities, educational or research organizations licensed in the country, or government or commercial entities, and this type is meant for people attending training and study courses and/or participating in internship programs.
It requires a letter from the entity outlining the study, training, or internship program’s details as well as its duration.
After ninety (90) days from the date of publication in the Official Gazette, the executive provisions of the Federal Decree-Law on Foreigner Entry and Residence enter into force.
Source: Gulf News