The UAE has introduced a new residence system regarding the green visa to continue its effort to be an ideal location for working, investing, entrepreneurship, education, and living.
Our article covers everything you need to know about eligibility for the green visa and the requirements needed.
To attract talents, skilled professionals, freelancers, investors, and entrepreneurs, new 5-year residence tracks have been developed for a green visa. Additional incentives are supplied to enable family members’ residence, including more flexible grace periods of up to 6 months to stay in the country after the residence permit is cancelled or expired, in addition to enabling and simplifying the criteria of all residence types.
This new program allows talented people to stay for five years without the need for a sponsor or employer. Applicants must have a valid work contract and be classified in the first, second, or third occupational level, according to the Ministry of Human Resources and Emiratization. A bachelor’s degree or equivalent is required, and the monthly salary must be at least AED15,000.
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This track provides freelancers and self-employed individuals with a 5-year residency in the UAE without the need for a sponsor or employer, in line with the growing importance of flexible work patterns. It requires the applicant to obtain a freelance/self-employment permit from the Ministry of Human Resources and Emiratization, as well as a bachelor’s degree or specialized diploma and annual self-employment income of not less than AED360,000 for the previous two years, or the applicant to demonstrate financial solvency throughout his or her stay in the country.
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The purpose of this residency permit is to encourage investment by allowing investors to stay for five years if they start or participate in a firm. It replaces the previous address, which was only good for two years. The two requirements are approval of the investment and proof of investment. If the investor (partner) owns more than one license, the total invested capital will be calculated. It is necessary to obtain the approval of the appropriate local authorities.
1.UAE Green Visa: 5-year residency scheme announced – News | Khaleej Times
The Green visa residency scheme was introduced and presented as a means of distinguishing between residency visas and work permits. As seen, the above individuals are eligible for a green visa under certain conditions.
Furthermore, this 5-year residency scheme will also prove to provide ease to widows and divorced individuals, among others.
Contact HHS legal experts to gain more information today!