On January 3rd, 2017, Dubai announced plans to launch a new visa that will provide residency for 2 years, and could lead to citizenship in exchange for wealth. These visas have been called ‘Golden Visas’, and are a part of an effort by Dubai to improve investor confidence in the region. The Golden Residency regime will allow foreign investors to live in Dubai for up to 2 years with multiple entry with a visa waiver. After two years, investors can apply for a UAE passport.Imagine living in a country where you can get anything from food to transportation for free, travel abroad and come back to the country without spending a penny and owning property worth millions at nominal prices? It may sound like a fantasy, but it is a reality. It’s a reality in Dubai, which has launched its ‘Golden Residency’ visa scheme on Monday.

Dubai Announces ‘Golden Residency’ Visa For Foreigners

Dubai has announced that it’s introducing a new type of visa as part of its new economic strategy, called “The :Abu Dhabi Path: Abu Dhabi Vision”. The new economic plan aims to transform the Emirate into an international business and tourism hub, so as to double household incomes by 2020. Under the “Golden Visas” residency program, investors will be able to obtain a residence visa by investing a minimum USD $ 500.000 in the Emirate of Dubai (500.000 Dirhams).

UAE announces new visa rules for long-term residency permit: all you need to know

These rules aim at retaining and attracting global talent, increasing the competitiveness and flexibility of the job market and fostering a sense of stability among residents of the nation.

FP TrendingApril 19, 2022 12:46:32 IST

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The United Arab Emirates has approved new executive regulations related to Federal Decree-Law on Entry and Residence of Foreigners. The updated entry and residence rules announced by the Emirati Cabinet offers 10 types of entry visas with simplified requirements.

These rules aim at retaining and attracting global talent, increasing the competitiveness and flexibility of the job market and fostering a sense of stability among residents of the nation. The new rules were also put out by the UAE government, which comprises seven sheikhdoms, including Dubai and Abu Dhabi, in a Twitter post. Check the post here:

According to the government, the new rules will offer 10 types of entry visa with more benefits as well as easier to meet requirements. The new visas do not require any host or sponsor.

Here are the different types of visas that the UAE is offering now:

Golden Residence

This long-term 10-year residence visa is granted to exceptional talents, investors, outstanding students and graduates, entrepreneurs, humanitarian pioneers, scientists and professionals and frontline heroes.
Amendments in the scheme allow Golden Residence visa holders to sponsor their family members, regardless of age. They can also sponsor support services (domestic) labourers without any limit on the number. There are no restrictions related to maximum duration of stay outside the UAE in order to keep the visa valid.

Golden Residence for Exceptional Talents

This residence visa is only granted top talents in important fields such as sports, art, digital technology, culture and so on, regardless of educational qualifications, professional level or monthly salary. This residence requires a recommendation from a local or federal government entity.

Golden Residence for Scientists

The residence is granted to scientists and researchers who have a doctorate or master’s degree in life sciences, natural sciences, engineering, technology and so from the world’s best universities. The candidates should also have substantial research achievements. The visas are given on the recommendation of the Emirates Scientists Council.

Golden Residence for Professionals

This category of residence visa has undergone a massive change. Applicants should be classified in the first or second occupational levels and have a valid employment contract in the Emirates to be eligible. The minimum educational qualification for applying for the visa should be a bachelor’s degree or equivalent, while the monthly salary should be over AED30,000.

Golden Residence for Real Estate Investors

Real estate investors can get Golden Residence if they buy a property that is worth at least AED2 million. As per the new amendments introduced in the scheme, investors can also obtain the Golden Residence if they buy a property with a loan taken from specific local banks.

Golden Residence for Entrepreneurs
Obtaining approval for a startup idea from the Ministry of  Economy, competent local authorities or an official business incubator is enough to obtain a Golden Residence. Entrepreneurs should be a partner or owner in a startup registered in the UAE in the small and medium enterprises (SMEs) category, and the company should generate annual revenues of at least AED1 million.

Golden Visa for Outstanding Students and Graduates

The visa is granted to high-performing students in UAE secondary schools, as well as outstanding graduates from universities in the country, or best 100 universities worldwide. This includes specific criteria based on academic performance, university classification, year of graduation and so on.

New Residence Types with Unparalleled Benefits

A new 5-year residence track, as well as benefits for family members, and longer flexible grace periods are being offered.

Green Residence for Skilled Employee

Employees without a sponsor or employer can get a 5-year residency if they have a valid employment contract. Eligible candidates should be classified in the third, second or first  occupational level, according to the Ministry of Human Resources and Emiratisation.

Green Residence for Freelancing and Self-Employment

The amendments allow a freelancer or self-employed individual to obtain a 5-year residency track despite no sponsor or employer, if they have a a freelance/ self-employment permit.

The country has also announced new rules for Green Residence for Investor or Partner, as well changes in visa entry rules.