Amendments to the visa program aims to strengthen the UAE as a destination for top global talent
The UAE 10-year Golden residency Visa for property investors is now available for those who invest as little as AED 2 million (US$ 544,000) in properties in the UAE, down from AED 10 million previously. The 10-year Golden Visa is now also extended to off-plan properties and properties bought with a loan from specific local banks *.
Furthermore, the benefits will be extended to family members with a number of restrictions being eased or streamlined. For instance, male children can be sponsored by the visa holder until the age of 25 (previously it was 18) with no age limit for unmarried daughters.
The 10-year Golden Visa is also available to other categories of individuals including, entrepreneurs, exceptional talents, scientists and professionals, outstanding students and graduates, humanitarian pioneers, and frontline heroes, who meet certain eligibility parameters, could be afforded a 10-year residency.
The UAE has also adjusted its rules surrounding the UAE Green Residence Visa. The UAE’s Green visa is a type of residence visa that allows its holder to sponsor himself/herself for five years, eliminating the need of an employer to sponsor his/her visa.
The visa is available to entrepreneurs/self-employed individuals, as well as to skilled people (currently employed in the UAE). This visa aims to retain exceptional talent, skilled professionals, freelancers, and self-employed residents. This change also increases the stability for residents and their families by lessening the dependence on their employer to maintain residency in the UAE.
There are a number of additional visas and long term passes that the UAE has either introduced or reduced restrictions for. With the global war on talent heating up, and the UAE’s competitor jurisdiction, Singapore, announcing its own visa rules, the UAE intends to cement its place as a top destination for talent, entrepreneurs and investors.
For more information, contact Alpadis Group.
*Specific conditions apply. Contact us for more information