For anyone wanting to invest or setting up a business in dubai, It makes an incredible place for an individual to live and work because of its rich economy. The individual first needs to obtain a UAE residence visa if they are interested in moving to the UAE. This blog presents a detailed guide to the new residence visa rules in UAE.
A UAE residence visa is a document that permits an individual to live in the country and is typically between 2 and 3 years but can be extended up to 10 years through renewal. Because the UAE does not offer permanent residency, getting a UAE residence visa is so important. An individual can become a resident of the UAE by obtaining a job, enrolling in a university or college, opening a business, obtaining a UAE resident visa, and owning property worth more than 1 million AED.
A residence visa in the UAE offers a lot of benefits to the individual as they can open a bank account in the country, get a bank loan, get a driver’s license, have free visa access to several countries, and can have access to government health services and health insurance.
The new visa rules in UAE have got different benefits both to the dependants and their family members. It was only up until the age of 18, parents under all visa types were able to sponsor their children. They are now likely to sponsor children up to the age of 25 once the new rules got established. The children of determination will receive a residency permit irrespective of their age and the parents are also able to sponsor unmarried female children until they are of any age.
There are different types of residence visas in the UAE catering to the different needs of the applicant.
Green Residence Visa
For those people who are not able to apply for residency via the traditional employer or sponsor route, the five-year green residence visa is an interesting option. The green residency visa is likely to be an appealing visa category for established freelance workers and small business owners and the eligibility will depend on salary and qualification. It permits the holders to get a residence permit for the family members for five years and even after its expiry or cancellation, the individual can stay in the UAE for up to six months.
The green residence visa is available for those with a bachelor’s degree or equivalent education and skilled people who earn more than 15,000 AED a month. Investors need to show both government approval and proof of the investment to get the five-year investor visa. They will take the total sum of the invested money into consideration if they have multiple licenses.
The green residence criteria for freelancers and the self-employed is that they will need to prove annual income in the last two years of at least Dhs 360,000. They should be degree graduates and will need to apply for permits from the Ministry of Human Resources and Emiratisation (MOHRE).
Changes to UAE Golden Visa
The golden visa holder in the UAE secures their stay in the country for 10 years. The golden visa holder can sponsor their family members and domestic laborers without limiting their number when the new rules came into effect.
The UAE’s ten-year renewable residence visa has been amended to include more skills, roles, and other means of qualification as the application criteria have been broader and open to students. People who work in education or law, and those who own a property or business are also eligible for applying.
To attract highly skilled workers with educational qualifications and professional experience in all disciplines the UAE Cabinet has revealed a major expansion in this category. According to the new rules of the UAE golden visa, highly skilled professionals who have a degree and a monthly income of Dhs30,000 or more can apply. Individuals who earn a property in the UAE worth more than Dhs2 million and entrepreneurs who own a business in the UAE with annual revenue of Dhs1 million or more can apply for the golden residence scheme.
The golden residence is open to graduates with high academic performance at UAE universities or any one of the best 100 universities worldwide. They are also applicable to high-performing students in secondary schools in UAE and these students can sponsor even their families. Based on the recommendation from the Emirates Scientists Council, the UAE Golden Visa will be granted to scientists and researchers with high achievements and influence in their field.
Humanitarian pioneers are also eligible under the new Golden Visa rules as set by the government of UAE. The members of the golden visa scheme are also permitted to stay in the country for the duration of their stay if their golden visa holder passes away.
Requirement for UAE Residence Visa
UAE continues to attract the largest number of high-net-worth individuals and offers favorable advantages like tax-free incentives, investor-friendly policies, and attractive immigration incentives such as the Golden visa. From the golden visa program, the UAE’s determination to achieve new success has seen countless individuals benefit which has led to its leading global position. To help the country maintain its allure throughout the year, the introduction of the Green Visa will elevate the UAE’s dignity.
The applicants must have several supporting documents while applying for UAE residence visas such as the UAE visa application form, two passport-size photos, an entry visa, an original passport, proof of the sponsor’s legal residency, and proof of UAE’s health insurance plan. All foreign nationals have to pass a medical exam proving their fitness to live in the UAE.
Business setup in Dubai help to get residence visas for people who are looking to live in the country. With their team of experts, it’s fairly straightforward for the individual to get their visa.