The UAE has announced significant amendments to its visa scheme, adding new categories to attract top talent from around the world.
The new category of 10-year visas came into effect along with other visa reforms from September 1, 2022. It is important to note that there are no restrictions related to leaving the UAE in order to keep the golden visa. The following are eligible for the Golden Visa:
- people investing two million dirhams or more in real estate. Under the new rule, investors buying property with a mortgage from a local bank can also apply for a “golden visa”;
- talented people in the field of art, culture, digital technology, sports, innovation, medicine, law and others. The 10-year visa is issued regardless of educational qualification, employment status, monthly salary or professional level. However, this requires federal or local government recommendation or approval;
- students of exceptional ability who have high scores from either a UAE high school or top 100 universities in the world are also eligible for a 10-year visa;
- Start-up investors can benefit from the golden visa under the new rules, provided that their company is registered in the country and is classified as a small and medium-sized enterprise with an annual income of AED 1 million or more;
- the visa is also issued to scientists and researchers who have a Ph.D. or a master’s degree in engineering, technology, life sciences, and natural sciences from top universities in the world. The candidate must have a recommendation from the Emirates Council of Scholars;
- skilled workers must have a valid employment contract in the UAE and the job must fall under professional level one or two as defined by the Ministry of Manpower. The required minimum monthly wage has been reduced to 30,000 dirhams (previously 50,000). The employee must also have a bachelor’s degree.
“Golden” visa is the provision of permanent residence to the participant of the investment program. Each country designates its own conditions for granting permanent residence for investors.