The UAE Cabinet on Monday approved the executive regulation of a federal decree regarding the entry and stay of foreigners, which includes the golden residence for specialists and talents, as well as the creation of new visas in order to explore business opportunities. and investment.
The Emirates News Agency stated that the executive regulations provide adequate information on the types and conditions of entry and residence visas, as well as the general provisions on the entry and stay of a foreigner in the country, “and reflect the fundamental development evidenced by the new development.” “The system of entry and residence visas in order to facilitate procedures, support the labor market, increase its competitiveness and flexibility and increase the sense of stability and security.”
The golden residence, which is given to several categories, including investors, entrepreneurs, brilliant talents, scientists, specialists, early students, graduates, humanitarian pioneers and the first line of defense for a period of ten years, witnessed a large number of changes. that. came with the aim of facilitating claims and expanding the categories of beneficiaries.
It also included new advantages for gold residence holders, the most important of which is the removal of the requirement not to be absent from the state to maintain the gold residence and the removal of the maximum number of support service employees, which may be bring benefits to family members, allowing them to stay in the state for the duration of their stay in the event of the death of the family holder who received the golden residence.
It also included giving the golden residence to investors in the real estate sector, with full ownership of a property worth at least two million dirhams ($ 544,000), and a feature was created that allows the investor to obtain the golden residence when blen. real estate on credit from certain local banks.
The agency noted that executive regulations impose requirements for obtaining gold residency in the category of entrepreneurs, which is that the person has ownership or partnership in a pilot project registered in the country in the category of small and medium enterprises and realizes annual income. of not less than one million dirhams.
Also, obtaining approval for a pilot project idea from an approved business incubator, the Ministry of Economy or the competent local authorities is sufficient to obtain the golden residence.
The list was expanded to attract the state to stand out and graduate from the top 100 universities in the world, to start their practical and professional careers in the UAE, according to specific requirements for the cumulative average, year of graduation and the university. classification.
The residence permit system has also witnessed updates, the most important of which is the introduction of green residence for a period of five years, to attract investors, entrepreneurs, skilled and self-employed workers, providing greater benefits for the recruitment of family members residing in the country, and flexible non-payment periods of up to six months after the expiration or cancellation of the stay, including Increases the resident’s sense of security and stability, types.
The regulation also included a new runway dedicated to skilled workers, providing a renewable 5-year residence permit, without a guarantor or employer, with simple requirements that include obtaining an on-site work permit under a valid employment contract, and that the person is a skilled worker, according to the professional classification accredited by the Ministry of Human Resources and Emiratiization.
This category requires that the minimum level of education be a bachelor’s degree, or its equivalent, and that the monthly salary be not less than 15,000 dirhams. Through this route, the residence was separated from work to facilitate procedures for the movement of skilled workers and to improve labor market flexibility.
To encourage flexible working models, a new runway dedicated to self-employment has been introduced, which provides residence for a five-year period, renewable without a guarantor or employer, provided a self-employment permit is obtained from the Ministry of Human Resources and Emiratiization, provided that the minimum level of education is a bachelor’s degree, a specialized degree or equivalent, and the annual income from self-employment for the previous two years should not be less than 360,000 dirhams, or the applicant for this. the place of residence must prove his financial solvency throughout his stay in the country.
The green residence for an investor or partner in a business activity without a guarantor has also been introduced for a period of 5 years, subject to renovation, to replace the previous two-year residence of the investor, to improve the investment environment in the country. .
Emirates News Agency says the new system offers a large package of benefits for family members, where a foreigner residing in the country can easily and conveniently bring his family members, including husband and children, where the age of the children it was. grown to 25 years as he was only 18 years old, except for unmarried girls despite Children with disabilities are given a residence permit with their parents, regardless of age.
Additional benefits have also been introduced for the foreigner who has obtained a green residence permit to bring his or her first-degree relatives and in all cases the residence of the family members will be the same as that of the head of the family.
The new system offers for the first time visa visas without the request of a guarantor or host on site to facilitate procedures and requirements. Visas in the new system are characterized by flexible and extended periods of visits up to one year, and all visas are available for one or more trips and the 60-day entry validity may change Renewable and easy-to-present mechanism within a unified platform.
A visa has also been introduced to explore employment opportunities in the country, with no guarantors or hosts within the country, is awarded for the category of skilled workers and is awarded to graduates of the 500 best universities in the world, as approved. international classifications, provided that no more than two years have elapsed since the person graduated and that the Minimum Level of Education is a bachelor’s degree or equivalent, according to the agency.
In addition to the normal tourist visa granted for a visit, and the guarantor or host is one of the institutions operating in the field of tourism in the country, a multi-entry tourist visa for a period of five years and without a guarantor has also been offered, enabling the beneficiary stay in the country for up to 90 consecutive days and may be extended for a similar period, provided that the full period of stay exceeds 180 days per year, except in exceptional cases, but requires proof of availability. of a bank balance of four thousand dollars or its equivalent in foreign currency during the last six months prior to the filing of the claim.