Everything you need to know about the UAE’s new rules for the Golden Visa, Green Residency, and long-term entry permits

Changes to the Golden Residence Visa rules

Eligibility criteria for the UAE Golden Residence Scheme has been simplified and the categories of people eligible to apply for the long-term 10-year visa have been expanded under a new set of executive regulations.

The UAE Cabinet, headed by Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister and Ruler of Dubai, has approved the new set executive regulations of the Federal Decree-Law on Entry and Residence of Foreigners in order to strength the UAE’s position as an ideal destination to live, work, and invest.

Under the new executive regulations, the UAE Golden Visa will grant 10-year residence to investors, entrepreneurs, exceptional talents, scientists and professionals, outstanding students and graduates, humanitarian pioneers, and frontline heroes, who meet certain eligibility parameters.

Primary benefits of the UAE Golden Visa

In addition to securing their stay in the UAE for a period of 10 years, the new rules will allow the Golden Visa holder to sponsor his/ her family members, including spouse and children regardless of their age, and to sponsor support services (domestic) labourers without limiting their number.

Furthermore, the restriction related to the maximum duration of stay outside the UAE in order to keep the Golden Residence valid has been removed.

There are other benefits for family members that allow them to stay in the UAE in the event of the death of the original holder of the Golden Residence until the end of their permit duration.

Golden Visa for scientists

The UAE Golden Visa will be granted to scientists and researchers with high achievements and influence in their field based on the recommendation from the Emirates Scientists Council.

The candidate must have a PhD or a Master’s degree in the disciplines of engineering, technology, life sciences, or natural sciences from the best universities in the world, as well as substantial research achievements.

Golden Visa for professionals

The UAE Cabinet has revealed a major expansion in this category to attract highly skilled workers with educational qualifications and professional experience in all disciplines, including medicine, sciences and engineering, information technology, business and administration, education, law, culture, and social sciences.

– Applicants should have a valid employment contract in the UAE

– Applicants should be classified in the first or second occupational level as per the Ministry of Human Resources and Emiratisation classification, which is aligned with the International Standard of Classification of Occupations ISCO by the International Labour Organisation.

– Applicants must have a minimum educational level and must have a bachelor’s degree or equivalent

– Applicants should have a monthly salary of not be less than $8,167 (AED 30,000).

Golden Visa for exceptional talents

The UAE Golden Residence visa will be granted to top talents in vital fields.

It will be awarded based on talent only regardless of the educational qualification, employment status, monthly salary, or professional level.

It requires the recommendation or approval of a federal or local government entity, and includes talented individuals in culture, art, sports, digital technology, inventors, and innovators in other vital fields.

Golden Visa for real estate investors

Real estate investors can obtain Golden Residence when purchasing a property worth no less than $544,500 (AED 2 million).

As per the new amendments, investors are also entitled to obtain the Golden Residence when purchasing a property with a loan from specific local banks.

Investors can also obtain Golden Residence when buying one or more off-plan properties of no less than $544,500 (AED 2 million) from approved local real estate companies.

Golden Visa for entrepreneurs and startup owners

The new executive regulations have also set flexible requirements for entrepreneurs eligible to obtain the Golden Residence.

– 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.

Golden Visa for outstanding students and graduates

This long-term, 10-year visa will also target high-performing students in UAE secondary schools, and outstanding graduates from UAE universities, as well as from the best 100 universities worldwide, according to specific criteria that includes their academic performance (cumulative average), the year of graduation, and the university classification.

UAE’s five-year Green Residence Visa

As part of a slew of new rules aimed at attracting and retaining talent and skilled workers from all over the world, the UAE Cabinet has also revealed a new 5-year Green Residence visa, which will boost flexibility of the job market and will foster a high sense of stability among UAE residents and families.

The new 5-year Green Residence visa will be aimed at exceptional talents, skilled professionals, freelancers, investors, and entrepreneurs.

Under the Green Residence visa, more benefits will be offered to facilitate the residence of family members residence.

In addition, longer flexible grace periods will extend up to 6 months to stay in the country after the residence permit is cancelled or expired.

Green Residence for skilled employees

The new track provides a 5-year residency for skilled employees, without a sponsor or employer.

The applicants should have a valid employment contract, and should be classified in the first, second, or third occupational level as per the Ministry of Human Resources and Emiratisation.

The minimum educational level must be a bachelor’s degree or equivalent, and the salary should not be less than $4,083 (AED 15,000).

Green Residence for freelancing and self-employment

In line with the growing importance of flexible work models, this track provides a 5-year residency for freelancers and self-employed individuals without requiring a sponsor or employer in the UAE.

It requires applicants to obtain a freelance/self-employment permit from the Ministry of Human Resources and Emiratisation.

The minimum educational level should be bachelor’s degree or specialised diploma, and the annual income from self-employment for the previous two years should not be less than $98,000 (AED 360,000), or that the applicant proves financial solvency throughout his / her stay in the country.

Green Residence for investors or partners

This residence permit is introduced to encourage investment, providing 5-year residency for investors establishing or participating in commercial activities.

It replaces the previous residence that was valid for 2 years only.

Requirements include approval of the investment and proof of investment.

If the investor or partner has more than one licence, the total invested capital will be calculated. Approval of the competent local authorities is mandatory.

New benefits for family members

The new system provides more benefits to family members, allowing residents to easily issue residence permits for their family members, including spouse and children.

The age of children who may be sponsored has been raised to 25 years (previously 18 years), with no age limit for unmarried daughters.

Children of determination are granted a residence permit, regardless of their age.

Green Residences holders are allowed to issue residence permits for their first-degree relatives, and in all cases the residency of family members shall be the validity duration as the original residence holder.

Long-term entry permits for tourists, relatives, and jobseekers

People from around the world who are planning to visit the UAE visitors – either for business, jobs, or pleasure – can now avail of a variety of visa options.

The UAE Cabinet has approved a number of new types of entry permits and visas without requiring a host or sponsor for the first time.

In addition, all entry visas are available for single or multiple-entry can be renewed for similar period(s) and are valid for 60 days from their issuance date.

Job exploration visa

The job exploration visa has been introduced with the aim of attracting young talents and skilled professionals to explore job opportunities available in the country and does not require a sponsor or a host.

It is granted to those classified in the first or second or third skill level as per the Ministry of Human Resources and Emiratisation.

Fresh graduates applying for this visa must be from one of the best 500 universities in the world, with minimum educational levels of a Bachelor’s degree or its equivalent.

Business entry visa

The business entry permits enable easy entry without requiring a sponsor or a host.

It aims to encourage investors and entrepreneurs to explore business and investment opportunities in the UAE.

Five-year multiple-entry tourist visa

In addition to the regular tourist visa that is sponsored by the UAE’s tourism establishment, a five-year multiple-entry tourist visa has been introduced.

This visa does not require a sponsor and it allows the person to stay in the country up to 90 continuous days.

The visa may be extended for a similar period, provided that the entire period of stay does not exceed 180 days in one year.

This visa requires proof of having a bank balance of $4,000 or its equivalent in foreign currencies during the last six months prior to submitting the application.

Entry permit to visit relatives or friends

As per the current amendment, a visitor can apply for this entry permit if he/she is a relative or friend of a UAE citizen or resident. It does not require a sponsor or a host.

Entry permit for a temporary work mission

This type of entry permit will be offered to those who have a temporary work assignment such as a project-based mission or probation testing, and will be sponsored by the employer.

It requires a temporary work contract or a letter from the employer clarifying the visit purpose and proof of health fitness to work.

Entry permit for study and training

This entry permit is intended for those attending training and academic courses and/or participating in internship programmes.

The sponsor can be universities or educational or research institutions licensed in the country or government or private entities.

The entry permit requires a letter from the entity, clarifying the details of the study or training or internship programme and its duration.

The executive regulations of the Federal Decree-Law on Entry and Residence of Foreigners shall come into force after ninety days from the date of its publication in the official gazette.

When will the updated Golden Visa and Green Residence visa rules come into effect in the UAE?

The UAE’s Federal Authority for Identity, Citizenship, Customs, and Ports Security (ICA) has revealed that the new set of executive regulations regarding entry permits and long-term residence for expats will officially be enforced in September 2022.

The new rules expand the accessibility for the 10-year Golden Visa and the five-year Green Residence Visa, while adding entry permits and visas for visitors, relatives, tourists, and jobseekers looking to fly into the UAE.

This also includes an integrated system and a new generation of long-term residence visas with added benefits aimed at attracting investors, entrepreneurs, highly skilled workers, and self-employed residents.

Under the new rules, the long-term visas extend greater benefits for family members residing in the country, and offer flexible grace periods of up to 6 months after the expiry or cancellation of residency.

The green residency includes three types of categories or residencies: the green residency for the skilled worker, the green residency for self-employment, and a green residency for investors or partners, without the need of a sponsor or an employer.

The Green Residency replaces the previous residency, which was valid only for two years. It also has simpler eligibility criteria and greater benefits.

While Golden Visa holders can sponsor their children, irrespective of age, the Green Residence visa will allow residents to sponsor their children until the age of 25 – raising it from the previous rule which capped the age of sponsored children at 18. Unmarried girls and children of determination can remain under the special long-term residency as long as the visa is valid, irrespective of age.

Residents who have been granted a Golden Visa will no longer need to return to the UAE once in six months to keep the visa valid.

Other new advantages on the Golden Residence visa include the removal of the maximum number of support service workers – such as maids – that could be brought in under the visa. Additionally, family members will be permitted to stay in the UAE for the duration of the residency visa in the event of the death of the person who obtained the Golden Visa.

The Golden Visa residency has also been extended to include scholars, specialists, and exceptional talents, in accordance with the regulations established in this regard.

For those looking to explore job opportunities in the UAE, a specialised Job Exploration Visa will be granted, without the need of a guarantor or host inside the country, if the conditions set forth in the new executive regulations are met.

The new regulation for the entry and residence of foreigners in the country also aims to support the real estate sector, develop its contribution to the gross domestic product, and double real estate investment in the country.

In line with these goals, real estate investors can obtain a Golden Residence visa when they purchase a property worth $544,500 (AED 2 million) or more. As per the new amendments, investors are also entitled to obtain the Golden Residence when purchasing a property with a loan from specific local banks.

Investors can also obtain Golden Residence when buying one or more off-plan properties of no less than $544,500 (AED 2 million) from approved local real estate companies.

New Golden Visa regulations are a “great move forward” for the UAE startup ecosystem: experts

Entrepreneurs in the UAE are hailing the new Golden Visa regulations as yet another “great move forward,” in strengthening the country’s startup ecosystem.

The new executive regulations, announced by the UAE Cabinet on Monday, set flexible requirements for entrepreneurs and startup owners to obtain the ten-year residency visa, making it easier to attract top talent and businesses to the country, industry stakeholders told Arabian Business.

“This is yet another great move forward from the UAE government in its efforts to attract entrepreneurs to the region and give them all the incentives to launch businesses that can go on to making valuable contributions to the economy of the UAE as well as the wider Middle East,” said Ryaan Sharif, general manager, Flat6Labs, a seed and early-stage venture capital firm.

“Obviously, there is still more to be done, however, every change to proactively assist entrepreneurs in moving to the UAE and putting down roots here helps us in attracting the top talent globally,” he continued.

Golden visa eligibility criteria for entrepreneurs include owning, or being a partner in a UAE-registered startup that generates annual revenues of $272,250 (AED 1 million) and above, having approval from an official body for a startup idea or being a former founder of an entrepreneurial project that sold for not less than $1.9m (AED7m).

“This is great news all around for the startup ecosystem for both founders and Investors. It gives visibility and longevity to current and past founders, creates a fantastic environment for founders who want to become VCs (a growing trend) and sets up access to attract and retain a large and diversified talent pool,” said Derek Watson, founder and CEO of N2 Technology, a business focused on accelerating the funding process for startups and investors.

“It begs the question why would you want to be a startup or investor based anywhere else?” he added.

Under the new executive regulations, the UAE Golden Visa will grant 10-year residence to investors, entrepreneurs, exceptional talents, scientists and professionals, outstanding students and graduates, humanitarian pioneers, and frontline heroes, who meet certain eligibility parameters.

“As a business owner, entrepreneur, employer, mother and long-term resident of the UAE, I fully welcome the broadening of the rules and ability for more people to be eligible. The UAE is an attractive place to do business, live and create amazing things,” said Kate Midttun, founder and CEO, Acorn Strategy and Abu Dhabi’s first female Golden Visa holder.

“Allowing access for more people to do that and have control over their journey and future through the Golden Visa programme is a great thing. The impact as a business is huge, forging a stronger talent pool and making the region much more competitive globally,” she continued.

Future unicorns born and bred in the UAE will trace their roots back to the Golden Visa: expert

Recently revealed amendments to the Golden Visa programme and the long-term UAE residence visas and entry permits will “have a positive ripple effect on the economy,” an expert said.

On 18 April the UAE Cabinet announced a sweeping set of executive regulations that opened up the Golden Visas to more categories of professionals and skilled workers, and made the eligibility criteria a lot simpler.

“Most importantly, the visa reforms allow the UAE to attract the brightest and the best from the region and beyond. The aggregate gain of that in years to come will be invaluable,” Trevor McFarlane, the CEO of Emerging Markets Intelligence & Research (EMIR), said.

“As future unicorns are born and bred in the UAE, their roots will be traced to initiatives like the golden visa,” he added.

Entrepreneurs and startup owners in the UAE will be able to more easily obtain the UAE Golden Residence visa – a long-term 10-year UAE residency visa – under the set of new executive regulations revealed by the UAE Cabinet.

The new eligibility criteria for Golden Visa offer more flexible options for start-up owners and entrepreneurs to apply:

– 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.

McFarlane added: “Visa reforms, including the golden visa for startups, will help the UAE meet strategic goals, such as increasing the contribution of the digital economy to the UAE’s GDP from 9.7 percent to 19.4 percent within the next 10 years.”

The reforms, which were necessary for the UAE to achieve its goal of becoming a brain port for top talent, have been received very well be residents, visitors, and expat investors.

“Given that I run a network for regional CEOs, the government approached us early last year to offer certain CEOs Golden Visas. Having helped hundreds of our members gain the visa, I can safely say that these policies are very well received and will help retain some of the country’s most high achieving individuals in the UAE for years to come,” McFarlane concluded.

More doctors, nurses, and healthcare professionals will make the UAE their home with new Golden Visa rules

Healthcare has received a huge boost in the UAE with the new rules for 10-year Golden Visas and 5-year Green Residence visas, which are expected to attract top professionals to the nation, an industry expert said.

The UAE Cabinet has eased the eligibility criteria for long-term visas in the UAE. The new rules also make the Golden Visa programme more inclusive to encourage more professionals across diverse industries to apply to the programme.

Reacting to the recent rules, the founder chairman and managing director of Aster DM Healthcare, Dr Azad Moopen, said: “For the healthcare sector, these reforms will attract more doctors, nurses, and other healthcare professionals to build their careers in UAE and select the country as a home for their families.”

According to the new rules, the UAE Golden Visa will be granted to scientists and researchers with high achievements and influence in their field based on the recommendation from the Emirates Scientists Council.

The candidate must have a PhD or a Master’s degree in the disciplines of engineering, technology, life sciences, or natural sciences from the best universities in the world, as well as substantial research achievements.

The UAE Cabinet has also revealed a major expansion, opening out the Golden Visa to highly skilled workers with educational qualifications and professional experience in all disciplines, including medicine, sciences, and engineering, among others.

In addition, the UAE’s new set of executive regulations will also provide skilled employees the opportunity to gain a 5-year Green Residency, without the need for a sponsor or employer.

Moopen added: “It is heartening to see the UAE’s visa relaxation announcement has reforms to support expatriates and businesses. The expansion of benefits to Golden Visa holders and introduction of green residence visa will attract more people with new skill sets and many businesses to the country.

“This will boost the talent pool in UAE and aid in the development of diverse sectors in alignment with the vision of the great rulers of the country to make UAE a global destination of choice.”

The announcement of the new set of rules is also timely, given the recent announcements surrounding the easing of Covid-related regulations in the UAE and the completion of a highly successful six-month long World Expo.

Moopen concluded: “Our triumph in the global war against Covid-19, while delivering the World’s Greatest Show – Expo 2020 – with such success, has established UAE as the most sought-after destinations for businesses and healthcare already. I am sure these moves will increase it exponentially.”

Dubai extends Golden Visa to long-serving imams, preachers, muezzins

Dubai announced that it would be granting golden residency to imams of mosques, preachers and muezzins who have completed 20 years of work, in addition to a financial bonus. 

The announcement was ordered by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council under the directives of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. 

The news, which came just ahead of Eid al-Fitr, was made, “in appreciation of their efforts in introducing the teachings of Islam and spreading the values of tolerance, especially during the holy month of Ramadan,” state news agency WAM reported. 

Sheikh Hamdan went on to thank the imams of mosques, preachers and muezzins, emphasising the important role that they play in society. 

In mid-April, the UAE announced a significant shakeup in its visa system, approving a number of new entry permits and visas that do not need a host or a sponsor. In addition, the eligibility criteria for the UAE Golden Residence Scheme were simplified and the categories of people eligible to apply for the long-term 10-year visa were expanded under a new set of executive regulations. 

Under the new executive regulations, the UAE Golden Visa will grant 10-year residence to investors, entrepreneurs, exceptional talents, scientists and professionals, outstanding students and graduates, humanitarian pioneers, and frontline heroes, who meet certain eligibility parameters. 

In addition to securing their stay in the UAE for a period of 10 years, the new rules will allow the Golden Visa holder to sponsor his/ her family members, including spouse and children regardless of their age, and to sponsor support services (domestic) labourers without limiting their number.  

Furthermore, the restriction related to the maximum duration of stay outside the UAE in order to keep the Golden Residence valid has been removed. 

There are other benefits for family members that allow them to stay in the UAE in the event of the death of the original holder of the Golden Residence until the end of their permit duration. 

UAE hospitality sector welcomes higher occupancy as Golden Visa rules outshine Covid gloom

Recently revealed amendments to the 10-year Golden Visa and five-year Green Residence visa programmes will bring commercial benefits to the UAE’s hospitality sector, which took a heaving beating in 2020 and 2021 due to the Covid-19 pandemic, an expert told Arabian Business.

The slew of recent executive regulations for UAE long-term visas revealed by the UAE Cabinet on Monday 18 April, have now made the criteria for eligibility a lot simpler to understand, while the application process is smoother.

Additionally, the benefits of obtaining a long-term visa have increased – with a special focus on attracting investors, tourists, and skilled workers to the UAE’s shores – which has already begun to positively impact the UAE hospitality industry.

The general manager of Dubai’s Al Jaddaf Rotana, Haytham Omar, explained: “The Covid-19 pandemic caused significant business destruction to the hospitality industry. Expo 2020 Dubai accelerated the hospitality industry’s recovery from the pandemic.

“The new visa regulations have now helped the industry rise by providing a major boost in investor interest from across the world, which in turn is leading to high occupancy rates due to international visitors.”

Apart from investors, the hotel and F&B sectors will also benefit from increased tourism due to the introduction of a five-year multiple-entry tourist visa.

Unlike the regular tourist visa, this visa does not require a guarantor or sponsor within the UAE and allows visitors to stay in the country up to 90 continuous days.

Furthermore, the multiple-entry visa may be extended for a similar period, provided that the entire period of stay does not exceed 180 days in one year.

Omar added: “Hotels will also witness increased bookings for stay, dining, and use of amenities as the new visas offer more flexibility, leading to increased demand. The new rules have instilled a great sense of confidence for expats to stay longer and make personal investments in the UAE.”

Also, rather than hiring employees and skilled workers who stay in the UAE for a few years and leave, the new visa rules will help retain talent as more and more people are beginning to view the UAE as a long-term option to work and live.

“The new system of residence aims at attracting and retaining global talents and skilled workers from all over the world. It will foster a high sense of stability among UAE residents and families. It will also help attract and retain highly talented employees in the hospitality and F&B industry,” Omar concluded.

How the updated Golden Visa regulations are spurring demand for Dubai’s real estate

Recent updates to the UAE’s Golden Visa regulations have a positive impact on many sectors, including Dubai’s real estate said, Madhav Dhar, Co-founder and COO, ZāZEN Properties.

Dhar credits the recent updates to the ten-year residency, along with the successful coronavirus response that the UAE exhibited, for the significant recent boom in Dubai’s property market.

In an exclusive interview with Arabian Business, Dhar also discusses the importance of sustainable real estate, especially in light of the UAE hosting COP28 in 2023.

What is your outlook on the future of real estate in Dubai?

The near future of the real estate market in Dubai looks strong, and we have witnessed the continuous growth of this sector over the last couple of years. This is because the world acknowledged and witnessed the UAE government’s response and management of the pandemic, the excellent work of the entire healthcare industry, the successful vaccination drive and how every citizen and resident positively contributed to the betterment of the UAE community.

The recently announced updated UAE Golden Visa regulations are a great initiative that will spur investment into real estate even more, especially with the flexibility that these new rules have to offer, providing residents with a strong reason to invest in the country long term and allowing non-residents to make UAE their second home.

What do you think is driving current market demand?

I believe that the biggest factor behind the continuously increasing market demand besides the UAE being one of the most ideal destinations to live and work in, are the initiatives set in place by the UAE government, like the expansion of the Golden Visa regulations. Demand from overseas buyers is still strong and coupled with improved affordability the market will continue to improve.

Dubai is also positioned as the only major global city to stay mostly restriction-free beyond 2021 and will ultimately benefit from any crisis within the region and beyond. The UAE, which has strong ties with Russia, has not imposed sanctions for its invasion of Ukraine, like other nations. And as long as money flows in through legal banking channels, Russian nationals will also push demand.

What is the trend towards sustainable real estate in the region?

With the announcement that the country will be hosting the UN’s climate change summit, COP28, in 2023, governments, corporations and individuals alike are becoming increasingly more aware of their responsibility towards a sustainable future.

With buildings in urban cities contributing almost 40 percent of worldwide carbon emissions, it is now a responsibility for all property developers to put sustainable solutions at the heart of the development process, and for governments to put in place legislation and incentives to push sustainable development opportunities, in line with UAE’s commitment to achieving net-zero by 2050.

Community-based sustainable developments will take centre stage over the next five years, as the UAE and the world align with global sustainability targets. More importantly, the opportunity for the real estate sector isn’t only in developing sustainable buildings, but also in the health and well-being of tenants, social sustainability, accessibility and electric vehicle take-up. The developments that adopt this the quickest and provide that to their residents/tenants at the most affordable price, will win.

What are the plans for ZāZEN for the rest of the year?

We are currently in the development of our second project in the Al Furjan community. Design has been approved and we are now planning the details and expected to break ground in August 2022. The project will encompass sustainability, well-being and continue with the level of quality and community delivered with the ZāZEN One project in JVT. It will help provide an environmentally-friendly and safe space, while also allowing future residents to experience the best possible luxury amenities, at an affordable price, with the aim of catering to the community’s needs.

Reasons why the UAE’s new Golden Visa regulations are a ‘game changer’ for real estate industry

New Golden Visa regulations are a “game-changer” for the UAE’s real estate industry, building on the momentum it’s garnered over the past year and a half.

The flexible regulations to obtain the ten-year residency through real estate will encourage further foreign investments in the country, industry stakeholders told Arabian Business.

“This is yet another proactive initiative from the UAE government, which will certainly entice more foreign investment into the country. In particular, the new visa scheme for property investors is quite appealing to say the least,” said Lynnette Sacchetto, a UAE-based real estate industry consultant.

“The fact that you can get a Golden Visa now when purchasing a secondary or off-plan property for AED2million which can be mortgaged pretty much covers all common scenarios for not only investors but also for UAE residents who own property.

“This is a game-changer, just like so many recent initiatives, and will further push forward the UAE as the central business and investment hub in the region. This will also have a positive impact on the Dubai real estate market, which has been going through record-breaking momentums over the past year and a half,” she continued.

Under the new executive regulations, entrepreneurs, exceptional talents, scientists and professionals, outstanding students and graduates are also among those eligible for the Golden Visa.

“The updated UAE Golden Visa regulation is a great initiative for the country, which has already seen tremendous growth in its real estate sector over the last couple of years, especially with how it recovered after the pandemic. The flexibility that these new rules have to offer, will provide residents with a strong reason to invest in the country long term and allow non-residents to make UAE their second home,” Madhav Dhar, co-founder and COO, ZāZEN Properties, said.

“Specifically, the ability to obtain a Golden Visa when purchasing a property with a mortgage and even purchasing an off-plan property, will help bring in more young professionals who have the ability to contribute positively while also being able to afford a home, since the upfront cash outlay is less,” he continued.

Dubai’s property market has been on an upward trajectory for the past year with the city’s residential market recording more than 52,000 apartments and villa real estate transactions in 2021, totalling $31bn (AED 114.2bn), more than the total for 2019 and 2020 combined.

“Changes in residency requirements in Dubai have had a significant positive impact on the real estate market in the last two years. Yesterday’s announcement is a further step in opening up Dubai to foreign investors and will likely lead to a significant influx in buyers, bolstering an already active market,” said Andrew Cummings, partner – head of prime residential at Knight Frank Middle East.

“The changes to enable off-plan investors to also gain residency will have the biggest impact and we are likely to see an increasing demand for off-plan properties, with buyers no longer being restricted to having to have a title deed of a ready property in hand. Whether or not this will lead to downward pressure on the resale market is more uncertain, with demand in this area predominantly being driven by end users rather than investors.

“Either way, decisions like this further the attractiveness of Dubai as a destination for investors and end users like and we anticipate this will lead to further strengthening of the market in coming years,” he added.

UAE’s new visa norms will increase expat longevity, foreign investments, work options in the UAE: expert

The new regulations relating to visas and work permits issued by the UAE government are instrumental in the UAE’s attempts to make the living environment in the nation more accessible to expats and will drive foreign investment into the country, an expert said.

The UAE Golden Visa residency programme, which was first implemented in 2019, enabled expats to live, work, and study in the UAE without the need of a national sponsor and with 100 percent ownership of their business on the UAE’s mainland.

The new executive regulations have eased the eligibility requirements for this 10-year visa with flexible requirements for entrepreneurs to obtain the Golden Residence.

Additionally the UAE Cabinet has also instituted a special entry permit, which will be offered to those who have a temporary work assignment such as a project-based mission.

A senior associate at global law firm Reed Smith, Marize Coetzer, said: “From a business perspective, this encourages foreign investment in the country and ensures that foreign and local companies established in the UAE have more options relating to their workforce.

“For example, the temporary work mission visa is in line with the changes in the newly introduced Federal Labour Law (33 of 2021) which came into force in February this year, to enable companies to employ workers on a temporary or project-specific basis.”

In order for startup owners or entrepreneurs to be eligible to apply for a UAE Golden visa, they must meet the below criteria:

– 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.

In addition, people from around the world who plan to visit the UAE – either for business, jobs, or pleasure – can now avail of a variety of visa options.

For the first time, the UAE Cabinet has approved a number of new entry permits and visas that do not need a host or sponsor – including new job exploration visas, five-year tourist visas, and temporary business work permits.

Reacting to the UAE Cabinet’s new rules, Coetzer added: “These changes, such as introducing new categories for the golden visa, removing the sponsorship requirement for certain types of visas, new system for entry visas, including tourist, family visitors, for job exploration purposes etc emphasise the UAE’s efforts to encourage tourism and is a welcome change for many nationalities who previously struggled to enter the country.”

In recent years, the UAE’s foreign resident landscape has changed from the position where expats came to the UAE on an assignment basis and only stayed in the country for a few years, to expatriates living here for longer periods.

“The norm is now for people to stay in the UAE at least 5 to 10 years, if not longer. The expansion of the Golden Visa and Green Residence visa categories now increases the longevity and opportunities for people to settle down here and raise their families in this beautiful country,” Coetzer concludes.

Empowered entrepreneurs can build better businesses as Golden Visa allows long-term financial planning

To help attract and retain top talent across numerous sectors, the UAE Cabinet recently amended its Golden Visa programme to include professionals from more diverse fields and ease the eligibility criteria. 

This programme allows investors, entrepreneurs, startup owners, professionals, and exceptionally talented individuals to apply for long-term residency – for up to 10 years with the option of renewal – to live, work, or invest in one of the most cosmopolitan nations around the world. With a Golden Visa, expats can forego the need of a national sponsor and maintain 100 percent ownership of their businesses on the UAE mainland.

Commenting on the new executive regulations on the long-term residence visa, Roberto Croci, the managing director of Microsoft for Startups – Middle East, Turkey, and Pakistan, said: “The UAE showed a superb management of Covid with open borders, high vaccination rates, and its business-friendly regime. In this context, the Golden Visa can play a critical role in empowering more entrepreneurs to build their business from the UAE at a time where more global players like Sequoia Capital India and Softbank start looking seriously at the region and eventually undertake deals.”

The emergence of many technical startups and big companies looking to invest in Dubai and establish their headquarters in the emirate has also led to an increase in demand for technical skilled labour in the past years. 

“Over the past few years, the UAE has positioned itself as an essential business hub connecting the Middle East to the world. Due to its dynamic and robust economy, it has become a destination of choice for business people and wealthy individuals seeking financial success,” Croci added.

“There is also a strong push by the UAE for new-age technologies such as machine learning, artificial intelligence, automation, and e-commerce.”

Innovation, entrepreneurship, and advanced industries remain a clear focus for the UAE as part of its plan to create a diversified knowledge-based economy in line with the UAE Centennial Plan 2071. With this active policy intervention the UAE can emerge as the tech hub of the Arab world with an ambition of becoming home to 20 tech companies worth $1 billion or more by 2031.

“The Golden Visa allow entrepreneurs and technology investors to live in the country for up to 10 years, longer than regular visas, with long-term financial planning and the opportunity to consider the UAE as home.

“The Golden Visa clearly shows how progressive the UAE is when it comes to supporting the entrepreneurial ecosystem. Exciting times ahead for the UAE and its startup ecosystem,” Croci concluded.

New UAE visa rules will spur influx of skilled AI professionals and boost in-country competition, experts tell AB

The UAE’s recently updated visa and residency rules may be a boon for the emerging technologies sector and spur development in artificial technology.

New visa issuance guidelines for the 10-year Golden visa and five-year Green visa have meant that more residents and visitors are eligible to obtain long-term residency visas in the Gulf country that is working to diversify its economy and leaving heavily into digital technology and cryptocurrency and its regulation, among other sectors.

“If I think about these new visa rules from the point of view of emerging technologies like AI, then the impact is set to be tremendous. Billions of dollars in commercial AI revenue are expected to flow to the Middle East by 2030, and contribute heavily to double-digit GDP growth. But reaping the full benefits of AI requires a clear strategy and skilled professionals,” said Sid Bhatia, regional vice president & general manager for the Middle East & Turkey at Dataiku.

Talent retention and reskilling have been pulled to the forefront of the country’s agenda, and the UAE has allocated AED24 billion to reskilling young Emirati talent.

“The UAE has already set a detailed AI strategy and is the first country in the world to appoint a minister of AI. Now, by introducing golden visas for exceptional talents and entrepreneurs, the country should see an influx of skilled professionals that can further the country’s ambitious AI vision,” Bhatia said. The UAE passed its AI strategy in October 2017 to enhance operations across transport, health, space, renewable energy, water, technology, education, environment, and traffic.

Beyond providing stability for individuals and families, the visa changes may also help foster intra company competition that would make the tech sphere more competitive.

“These changes will also help boost internal competition between in-country companies, ultimately leading to a better life for the talent, and push towards more innovation. Lastly, the support for young talent to be in-country without worrying about finding a sponsor while they prepare for their next step, will make it easier for them to consider UAE as their home. I believe these new visa rules will help to create a thriving tech scene in the UAE,” said Rodrigo Castelo, vice president Middle East & Africa, OutSystems.

For tech startups, the new visas, specifically the freelance visa, offer growing companies greater flexibility when hiring staff; it may also help them raise funds.

“As a tech startup, our backbone are freelancers as in many areas of support we can’t afford to have full-time staff. The freelancer visa is a novel way to attract such freelancers to be based in the UAE,” said Rabih El Chaar, CEO of Nadeera, a company using digital technologies to help communities in the GCC recycle.

For the founder and CEO of Fanera, the new rules will help recruit from abroad and “expand the talent pool,” Mohammed Kilany said. “By providing incentives for investors to relocate to the UAE, this new ruling will strengthen the country’s investment segment, increasing the potential for startups to successfully fund raise.”

The UAE has undergone rapid change, easing the ability to do business, lowering the cost to start a business, and made it easier for more people to call the country home.

“This is yet another great move forward from the UAE government in its efforts to attract entrepreneurs to the region and give them all the incentives to launch businesses that can go on to making valuable contributions to the economy of the UAE as well as the wider Middle East,” said Ryaan Sharif, general manager, Flat6Labs.

“Obviously, there is still more to be done, however, as one of the region’s leading accelerators, every change to proactively assist entrepreneurs in moving to the UAE and putting down roots here helps us in attracting the top talent globally.”

Will the updated Golden Visa rules boost the UAE’s talent retention drive?

The UAE’s updated Golden Visa regulations are the latest in a string of initiatives making the city a “favourite destination” for talent and increasing its attractiveness as a place to live and work, industry stakeholders told Arabian Business.

Increased flexibility in the issuance of other visa types will also attract visitors, job seekers and investors to the country.

“The UAE continues to be among the most attractive job markets for regional and global talent, with many professionals and entrepreneurs looking to make their next big break there. The ‘Job Index Survey’ conducted recently by Bayt.com & YouGov, has revealed that over three-quarters (76 percent) of UAE employers are planning to hire new employees in 2022,” said Ola Haddad, director of Human Resources, Bayt.com, the Middle East job site.

“Always a favourite work destination for entrepreneurs and startups owners, the UAE is becoming even more so lately with the issuing of the new rules. The updated Golden Visa regulations will probably attract more talent from all over the world, encourage investments in the UAE, and create new job opportunities. This, in return, will enhance the country’s global competitiveness and strengthen its position as an ideal destination to live, work, and invest,” she continued.

The new visa rules will go into effect in September and are expected to attract an even wider talent pool to the UAE, given the changes.

“The latest amendments to the Golden Visa offer greater certainty to those looking to locate in the UAE and this will generate spillover benefit to investors, especially in those sectors dependent on high skilled labour. Previously, the Golden Visa was fairly exclusive and focused on those who have made a fairly sizeable investment or contributed to the economy over a number of years,” said Scott Livermore, ICAEW economic advisor, and chief economist and managing director, Oxford Economics Middle East.

“The latest changes make the Golden Visa more forward-looking and dynamic. A wider range of skilled and qualified individuals qualify and can come to the UAE with security about their visa situation thereby reducing uncertainty around their status should, for example, their employment situation change. This will encourage individuals to come to the UAE and come here with a more permanent mindset which will likely lead to greater investment in local real estate and help the UAE financial sector.

“And with a less transient pool of labour, investors will also have more confidence that they can establish and expand businesses with the investments they make in their workforce generating a longer-term return and reducing the risk from higher staff turnover. The reforms to the ten-year-residency seem an important step in attracting and retaining talent and this will also increase the UAE’s attractiveness to investors,” he continued.

Impact on real estate

The updated ten-year-residency regulations will have a positive impact on the real estate industry in mid to long term, opening up new categories of buyers and investors.

“The updates to the Golden Visa showcase the initiative that the UAE government has been taking to continuously enhance the attractiveness of Dubai as a place to live, work and invest. These initiatives are well-placed to support the already attractive and active real estate environment in the city. Furthermore, these updates and increased flexibility for other visa types is likely to go a long way in attracting new visitors, residents, knowledge workers and investors, while creating an environment which supports a more long-term view to life in the UAE for the existing population.,” said Gabriella De La Torre, director – consulting, at CBRE in Dubai.

“What we have witnessed throughout the past few years especially, is the government’s focus not just on economic recovery in light of the pandemic but in furthering continued economic growth. These initiatives, coupled with continuously enhancing infrastructure, ease of doing business and quality of life, are critical to attracting the knowledge and talent linked to long-term economic initiatives in key sectors, such as clean energy, technology, healthcare and education, among others.

“From a long-term perspective, the expanded visa alternatives also have the potential to contribute to the shaping of the future demographics of the UAE, creating potential opportunities in new segments, such as senior living and retirement communities as well as co-living catering to young professionals and entrepreneurs,” continued De La Torre.

Visa to attract more job seekers to UAE

Under the new rules, the long-term visas extend greater benefits for family members residing in the country, and offer flexible grace periods of up to 6 months after the expiry or cancellation of residency.

“The loosening of the requirements for obtaining a Golden Visa will make it more accessible to a larger number of people. The introduction of long-term residency visas to individuals of exceptional talent will increase the talent pool in the country and increase the competitiveness of the labour market and the loosening of the restrictions around short-term entry visas will bolster the tourism industry,” said Jessica Ashford, COO of PRO Partner Group.

“These changes will have a significant impact on the UAE economy and business ecosystem and are certain to aid the country’s ambitions to be at the forefront of new growth industries as well as making it more accessible and attractive to foreign investors,” she continued.

Startups founders and entrepreneurs also benefit from the updated visa regulations, further contributing to job creation in the UAE.

“The UAE has always done what it can to attract foreign investment; however the latest updates to the Golden Visa will usher in a new generation and scope of foreign investment which will serve to boost the UAE’s global position as an investor-friendly business ecosystem,” said Bradley Moran, associate at BSA Ahmad Bin Hezeem & Associates LLP.

“The newly implemented executive regulations extensively expands the qualifying categories for the Golden Visa targeting those of the innovative, pioneering and hard-working persuasions. It is clear from the expanded categories that the UAE seeks to attract the next generation of skilled individuals and entrepreneurs from all over the world to bring their dreams and potential here to the UAE by introducing a future stabilising factor, in the form of the Golden Visa, to an already well-established business environment well suited to investment and growth of startups.

“Moreover, the latest revisions now enable holders of the coveted visa to stay outside the UAE for as long as needed (without it affecting their residence status), sponsor their family members (including spouses and children regardless of their age) and sponsor an unlimited number of domestic support staff (as needed). Thus, any concerns one might have had regarding long-term residency, family stability or international travel have now been assuaged,” he continued.