The UAE Government has announced significant changes to its Golden Visa scheme by adding new categories to attract the best talents around the world.
The expanded new categories of 10-year visas will come into effect with other visa reforms from next month. The visa holders can sponsor their family members (regardless of their age) and domestic staff without limiting their numbers.
The important point is there is no restriction related to the maximum duration of six months outside the UAE to keep the Golden Visa valid.
Skilled workers: Applicants must have a valid employment contract in the UAE, while the job must fall under the professional level one or two, as defined by the Emirates Ministry of Human Resources. The required minimum monthly wage has been reduced to 30,000 dirhams from 50,000 previously. The employee must also have a bachelor’s degree.
Exceptionally-talented individuals: This category will benefit a large number of talented foreigners who are looking to make UAE their home. Under this category, talented people in the field of art, culture, digital technology sports, innovation, medicine, law and others can apply. Importantly, the 10-year visa is awarded based on talent only. It does not depend on educational qualification, employment status, monthly salary or professional level. However, it requires the recommendation or approval of a federal or local government entity.
Student: Students with exceptional calibre having high scores obtained either in UAE secondary school or universities are eligible for the 10-year visa. Those talented students who studied at the world’s 100 best universities are also eligible.
Entrepreneurs: Startup investors can also avail of Golden Visa under the new rules provided their company is registered within the country and it should fall under the small and medium enterprises (SME) category with annual revenues of Dh1 million or above.
Real estate investors: People investing Dh2 million and above are eligible for the Golden Visa. Under the new rule, investors buying property through a mortgage from a local bank can also apply for the Golden Visa. Investors buying off-plan properties can apply too.
Scientists: This visa is granted to scientists and researchers who have a PhD or Master’s degree in engineering, technology, life sciences and natural sciences from the best universities in the world. He/she must have a recommendation from the Emirates Council of Scholars.