The UAE cabinet has announced new entrance and residence scheme in order to reinforce the UAE’s status as an exceptional place to live, work, and invest.
There have been some important changes to the Golden Residence Scheme. These changes make it much easier to meet the qualifying requirements and broaden the beneficiary categories. Ten years of residency is offered to investors, entrepreneurs, scientists, exceptional students, and first-line heroes.
A holder of a Golden Residency can sponsor their family members, and there is no time limit on how long they can stay outside the country to keep their residence active.
After receiving a recommendation from the Emirates Scientists Council, scientists with extraordinary achievements are eligible for Golden Residence, which comes with its own set of privileges.
Students and graduates with remarkable talents, regardless of their educational background, who have been nominated by federal or local government bodies are invited to apply.
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The new entry and residence scheme is open to professionals from a number of professions who have valid job contracts in the UAE. However, the monthly compensation should not be less than 30,000 dirhams.
The Golden Residence is available to entrepreneurs and real estate investors with annual revenues of AED1 million and AED2 million, respectively.
New five-year tracks with even greater incentives have also been established.
For qualified employees and freelancers, another programme called Green Residence is available.
Green Residence holders are permitted to bring their first-degree relatives with them. The minimum age for children has been raised from 18 to 25 years.
There have been numerous revisions in the area of entry visas, as well as for individuals who wish to visit friends and relatives.
According to Gulf News, the executive provisions of the Federal Decree-Law on Foreigner Entry and Residence would take effect ninety days after its publication in the Official Gazette.