A significantly expanded Golden Visa scheme, the new five-year Green residency, a multiple-entry tourist visa and job hunting entry permits are among the several residency reforms that will take effect next month. These new visas and entry permits are part of the largest entry and residency reforms adopted in the UAE.

The new system will significantly benefit the expatriates living and working in the UAE as well as visitors. This will also make the Emirates an even more investor-friendly country for foreigners and high-net-worth individuals looking to have a long-term presence in the UAE.

As per the UAE Cabinet decision announced in mid-April, all these new executive regulations related to entry and residence laws will come into force after 90 days from the date of its publication in the Official Gazette.

Below is the list of visas that were announced in April. Most of them will come into force from next month and a few of them have already been introduced:

A minimum investment of Dh2 million in real estate is required to be eligible for the visa. Investors buying property on the mortgage and off-plan properties are also allowed if their combined total investment is Dh2 million or above.

 

Entrepreneurs can now avail of Golden Visa under three categories – (1) startup is registered in the country, (2) should fall under SME, (3) and annual revenue should be Dh1 million or above.

 

People who are dexterous in their field can apply for Golden Visa if they meet the following requirements – a recommendation from Emirates Science Council and PhD or Master's degree from a top university in life science, natural sciences, technology and engineering.

 

People who have exceptional talent in the field of art, culture, digital technology, sports, innovation, medicine and law can apply for Golden Visa. They need a recommendation letter or approval from the relevant government entity.

 

Applicant must have a Bachelor's degree, a valid contract of employment, a line of employment must fall under the occupational level one or two as defined by the Ministry of Human Resources and Emiratisation, and a minimum monthly salary of Dh30,000.

 

Exceptional students who have obtained high scores in UAE secondary schools and universities or those who fall under the best 100 universities worldwide can apply for the Golden Visa.

 

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