As one of the first few UAE Projects of the 50, the UAE government, on September 5, announced the UAE Green Visa at a prestigious event in Dubai.
The UAE Projects of the 50 are all key national projects that will focus on attracting outstanding individuals and personalities all across the world to help maintain UAE’s growth in the years to come. But for every visa in the world, there are so many things to keep in mind. More on that later, but first let us understand what the Green Visa is.
Know more about UAE Green Visa
What is the UAE Green Visa?
The UAE Green Visa is a new residency visa category that essentially highlights the differences between work and residency permits. Under this visa, highly skilled people, investors, entrepreneurs and top students and graduates can sponsor themselves for five years without having to first associate themselves with companies based in the UAE. This is the government’s measure to attract exceptional talents and boost economic growth for UAE.
Who all are eligible for the Green Visa?
There are three categories of UAE residents who can apply for the Green Visa:
- Freelancers or those who are self-employed
- Investors or partners in commercial businesses
- Highly skilled workers
If you are a freelancer or are self-employed, you will need to have proof of a bachelor’s degree or specialised diploma and have to obtain a freelance permit from the Ministry of Human Resources and Emiratisation (MoHRE). You will also need to prove an annual income in the last two years of not less than AED 360,000, (Rs 7820701.2) or as an alternative, prove financial solvency throughout your stay in the UAE.
The investor Green Visa UAE is suitable for potential investors. This five-year visa is available for investors who establish a new firm or participate in commercial activities. In order to qualify for the UAE Green Visa, investors or partners will need both approval and proof of investment, as well as approval from the necessary local authorities. Earlier, investors could only acquire a two-year visa. The Green Visa is a welcome change for all those investors.
Finally, the highly skilled workers visa is to attract talented individuals who are outstanding in their own fields. To be considered a highly skilled employee, you need to be classified in the first, second or third occupational level as per MoHRE. For the full list of who all classify as skilled workers, you can read here. As a skilled employee, you should have a valid employment contract, a salary of at least AED 15,000 (Rs 325862.55) per month and hold a minimum of a bachelor’s degree or equivalent.
What are the benefits of this visa?
If you become a holder of the UAE Green Visa, you will be easily able to get residency permits for your children, spouse and first-degree relatives. You will also be able to sponsor your male children up to the age of 25 and daughters, regardless of their age.
The overstay period under this visa will also be extended. If a Green Visa is cancelled or expires, holders can stay in the UAE for upto 6 months.
What is the cost of this visa?
The government is yet to announce the costs of acquiring this visa.
Hero Image Courtesy: ZQ Lee/Unsplash, Featured Image Courtesy: Aldo Loya/Unsplash
This story first appeared on Travel+Leisure India and South Asia