UAE’s Golden Visa to open doors to new opportunities and growth
Companies in the UAE are now offering Golden Visas to retain their current employees, and they are also exploring the possibility of granting 10-year visas to new executives to attract the best talent in the market. Companies are introducing these additional benefits on top of financial incentives to retain talented and highly skilled workers for the long term, as UAE is a topmost favorite destination for many who are looking for long-term opportunities
Currently, it may be added as a perk for employee benefits. Many talented Medical, Tech, and other business aspirants are hoping to benefit from this scheme. This move has pleased many of the company’s customers and employees.
What is UAE Golden Visa Rule?
The UAE’s ‘Golden visa’ is a long-term residence visa that enables foreign talents to live, work or study in the UAE while enjoying exclusive benefits which include:
- an entry visa for six months with multiple entries to proceed with residence issuance
- a long-term, renewable residence visa valid for 5 or 10 years
- the privilege of not needing a sponsor
- the ability to stay outside the UAE for more than the usual period of six months in order to keep their residence visa valid
- the ability to sponsor their family members, including spouses and children regardless of their ages
- the ability to sponsor an unlimited number of domestic helpers
- the permit for family members to stay in the UAE until the end of their permit duration if the primary holder of the Golden visa passes away.
UAE Golden Visa eligibility criteria:
Eligibility criteria for the UAE Golden Residence Scheme have been simplified and the categories of people eligible to apply for the long-term 10-year visa have been expanded under a new set of executive regulations.
- Golden Visa for scientists:
The UAE Golden Visa will be granted to scientists and researchers with high achievements and influence in their field based on the recommendation from the Emirates Scientists Council. The candidate must have a Ph.D. or a Master’s degree in the disciplines of engineering, technology, life sciences, or natural sciences from the best universities in the world, as well as substantial research achievements. - Golden Visa for professionals:
The UAE Cabinet has revealed a major expansion 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.
- Golden Visa for exceptional talents:
The UAE Golden Residence visa will be granted to top talents in vital fields. It will be awarded based on talent only regardless of educational qualification, employment status, 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 in other vital fields.
- Golden Visa for real estate investors:
Real estate investors can obtain Golden Residence when purchasing a property worth no less than $544,500 (AED 2 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. - Golden Visa for outstanding students and graduates:
This long-term, 10-year visa will also target high-performing students in UAE secondary schools, and outstanding graduates from UAE universities, as well as from the best 100 universities worldwide, according to specific criteria that include their academic performance (cumulative average), the year of graduation, and the university classification.
- Humanitarian pioneers:
As per the UAE government, humanitarian pioneers are also eligible under the new Golden Visa rules. Such as distinguished members of international and regional organizations, outstanding members of associations of public benefit, recipients of recognition awards in humanitarian fields, and distinguished volunteers and sponsors of humanitarian efforts. - Frontline heroes:
Frontline workers with extraordinary efforts in crises, such as the COVID-19 pandemic can also get the Golden visa under the new rules issued by the UAE government.
- Golden Visa for entrepreneurs and startup owners:
The new executive regulations have also set flexible requirements for entrepreneurs eligible to obtain the Golden Residence.
Additional Golden Visa eligibility criteria for professionals include:
- Applicants should have a valid employment contract in the UAE.
- Applicants 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.
- Applicants must have a minimum educational level and must have a bachelor’s degree or equivalent.
- Applicants should have a monthly salary of not less than $8,167 (AED 30,000).
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