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New UAE Golden Visa, Green Visa, rules for long-term visit visas are now in effect: Benefits and application

UAE Golden Visa regulations are now in effect. Here is all the information you require regarding eligibility, the application procedure, benefits, and more.

Today marks the implementation of new UAE Golden Visa regulations and long-term visit visas, including authorizations to enter and remain in the nation.

The comprehensive adjustments, which were initially announced on Monday, April 18, by the UAE Cabinet, which is chaired by Sheikh Mohammed bin Rashid Al Maktoum, the UAE Vice President, Prime Minister, and Ruler of Dubai, are already helping the economy of the nation.

The recipients of the long-term visas include investors, business owners, founders of start-ups, extraordinary talent, scientists, and experts from a variety of sectors, as well as top students and recent graduates, pioneers in humanitarianism, and frontline heroes.

The advantages of Golden Visas and long-term visas will also apply to members of the immediate family. The age at which a child may be sponsored by the holder of a Golden Visa or Green Residence visa has been raised from 18 to 25, and there is no age restriction for unmarried daughters. No matter their age, children of determination are given a residency permit.

With the introduction of the UAE Golden Visa residency program in 2019, foreigners are now able to live, work, and study in the UAE without the need for a national sponsor and with full ownership of their company on the country's mainland.

With the revised regulations, it is now easier to qualify for 10-year visas because more people from a wider range of vocations will be able to apply for the Golden Visa.

The old two-year version of the UAE Green Residence visa has been replaced by a five-year option that targets outstanding talent, highly qualified professionals, freelancers, residents who are self-employed, investors, and business owners.

UAE Golden Visa: Requirements and Advantages
The new regulations will enable holders of Golden Visas to sponsor members of their families, including spouses and children, regardless of their age, as well as support services (domestic) laborers in an unlimited number, in addition to securing their right to remain in the UAE for a period of ten years.

In addition, the limitation on the length of time a person may spend outside the United Arab Emirates without losing the Golden Residence has been lifted.

Additional Golden Visa eligibility criteria for entrepreneurs and startups owners includes:

  • Entrepreneurs should own or be a partner in a startup registered in the UAE under the small and medium enterprises (SMEs) category, and the registered startup must generate annual revenues of not less than $272,250 (AED 1 million).
  • Entrepreneurs or startup owners who obtain approval for a startup idea from an official business incubator, from the Ministry of Economy, or from a competent local authority will be deemed eligible to obtain the Golden Residence in this category.
  • Entrepreneurs who are founders – or one of the founders – of a previous entrepreneurial project(s) that was sold for a total of not less than $1.9 million (AED 7 million) will be entitled to the UAE Golden visa. For this category, the approval of the Ministry of Economy or competent local authorities will be required for projects or ideas.

 

UAE Green Residence Visa: Perks and Requirements
The UAE Cabinet has also unveiled a new 5-year Green Residence visa as part of a slew of new regulations designed to draw and keep talent and skilled workers from all over the world. This visa will increase job market flexibility and foster a strong sense of stability among UAE residents and their families.

Aiming to attract exceptional talent, highly qualified professionals, independent contractors, investors, and business owners, the new 5-year Green Residence visa.

More perks will be available under the Green Residence visa to make it easier for family members to live with you.

The UAE's new Golden Visa rules will revolutionize the real estate industry.
For the UAE's real estate sector, the new Golden Visa requirements are a "game-changer," adding to the momentum it has gained over the previous 18 months.

According to industry participants who spoke with Arabian Business, the permissive rules for obtaining the ten-year residence through real estate will promote more foreign investment in the nation.

"This is another another proactive move by the UAE administration that will undoubtedly draw in more foreign investment.

Particularly enticing, to put it mildly, is the new visa program for real estate investors, acco