Dubai to introduce new Residence Permits
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 provide comprehensive information on the types and conditions of entry visas and residence permits. 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.
Substantial amendments are introduced to the Golden Residence Scheme to simplify the eligibility criteria and expand the categories of beneficiaries. This long term 10-years 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 the Golden Residence holder to sponsor his/ her family members including spouse and children regardless of their age, and to sponsor support services (domestic) laborers without limiting their number. Furthermore, there is no restriction related to the maximum duration of stay outside the UAE in order to keep the Golden Residence valid.
There are other benefits for family members that allow them to stay in the UAE in the event of the death of the original holder of the Golden Residence until the end of their permit duration.
Golden Residence for Scientists
This residence is granted to scientists and researchers with high achievements and influence in their field based on recommendation from the Emirates Scientists Council.
The candidate should have a Ph. D. or master 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.
Golden Residence for Professionals
A major expansion is introduced in this category to attract highly skilled workers with educational qualifications and professional experience in all disciplines including medicine, sciences and engineering, information technology, business and administration, education, law, culture and social sciences.
The applicants should have a valid employment contract in the UAE, and should be classified in the first or second occupational level as per the Ministry of Human Resources and Emiratization classification which is aligned with the International Standard of Classification of Occupations ISCO by the International Labor Organization.
The minimum educational level must be a bachelor’s degree or equivalent, and the monthly salary should not be less than (30) thirty thousand dirhams.
Golden Residence for Exceptional Talents
This residence is granted to top talents in vital fields. It is awarded based on talent only regardless of the educational qualification or the employment status or the monthly salary or professional level.
It requires the recommendation or approval of a federal or local government entity, and includes talented individuals in culture, art, sports, digital technology, inventors and innovators and other vital fields.
Golden Residence for Real Estate Investors
Real estate investors can obtain Golden Residence when purchasing a property that worth no less than AED2 million.
As per the new amendments, investors are also entitled to obtain the Golden Residence when purchasing a property with a loan from specific local banks. Investors can also obtain Golden Residence when buying one or more off-plan properties of no less than AED2 million from approved local real estate companies.
Golden Residence for Entrepreneurs
The executive regulations set flexible requirements for entrepreneurs eligible to obtain the Golden Residence; an entrepreneur should own or be a partner in a startup registered in the country in the category of small and medium enterprises SME and generates annual revenues of not less than AED1 million.
In addition, 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.
Moreover, if the person is a founder (one of the founders) of a previous entrepreneurial project (projects) that was sold with a total value of not less than AED7 million, he will be entitled to Golden Residence. The approval of the Ministry of Economy or the competent local authorities is required for projects or ideas.
Golden Visa for Outstanding Students and Graduates
This residence targets high performing students in UAE secondary schools, and outstanding graduates from UAE universities and the best 100 universities worldwide according to specific criteria that includes their academic performance (cumulative average), the year of graduation, and the university classification.
Green Residence for Skilled Employee
A new track that provides a 5 years residency for skilled employees, without sponsor or employer.
The applicants should have a valid employment contract, and should be classified in the first, second or third occupational level as per the Ministry of Human Resources and Emiratisation.
The minimum educational level must be a bachelor’s degree or equivalent, and the salary should not be less than fifteen (15) thousand dirhams.
Green Residence for Freelancing and Self-Employment
In line with the growing importance of flexible work models, this track provides a 5 years residency for freelancers and self-employed individuals without requiring a sponsor or employer in the UAE.
It requires obtaining a freelance/ self-employment permit from the Ministry of Human Resources and Emiratisation, the minimum educational level should be bachelor’s degree or specialized diploma, and the annual income from self-employment for the previous two years should not be less than AED360,000, or that the applicant proves financial solvency throughout his stay in the country.
Job Exploration Entry Visa
This visa is introduced with the aim of attracting young talents and skilled professionals to explore job opportunities available in the country, it 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 and the fresh graduates of the best 500 universities in the world and the minimum educational level should be a bachelor’s degree or its equivalent.
Business Entry Visa
Easy entry without requiring sponsor or host to encourage investors and entrepreneurs to explore business and investment opportunities in the UAE.
Entry Permit for a Temporary Work Mission
This type is intended for those who have a temporary work assignment like probation testing or project- based mission, and is sponsored by the employer. It requires a temporary work contract or a letter from the employer clarifying the visit purpose and proof of health fitness to work.
The New System for Entry Visas
The new system offers the UAE visitors a variety of visa types for different visit purposes. New types of visas are introduced without requiring a host or sponsor for the first time. Major improvements include facilitating the entry requirements for all visa types, offering flexible visa durations that meet the needs of the visitors and the purpose of the visit. In addition, all entry visas are available for single or multiple entry and can be renewed for similar period(s) and are valid for 60 days from their issuance date.
New Residence Types with Unparalleled Benefits
Major improvements include introducing new 5-years residence tracks to attract talents, skilled professionals, freelancers, investors and entrepreneurs. More benefits are offered to facilitate family members residence, and longer flexible grace periods that reach up to 6 months to stay in the country after the residence permit is cancelled or expired, in addition to facilitating and simplifying the requirements of all residence types.
The executive regulations of the Federal Decree-Law on Entry and Residence of Foreigners shall come into force after ninety (90) days from the date of its publication in the Official Gazette.
Source: gulfnews.com – thanks.
These new Residence Permits give our clients more flexibility to manage and extend existing Nearshoring Teams, creating ample opportunities for new Teams and Projects. Speak to us to find out more.