Synopsis: The United Arab Emirates has been making continuous changes to its visa requirements to attract the attention of entrepreneurs and qualified professionals working across the globe. This time, the UAE introduced Green Visas to retain global talents.
The UAE is a dream destination for many to start their own businesses and become successful entrepreneurs. There are so many well-developed cities in the UAE that become the first choice of investors for their businesses. If you are one of those who have been planning to start business in the UAE, then it will be a good opportunity for you.
UAE launched a brand new Green Visa on September 5th to support talented minds across the globe. The UAE has recently changed its visa requirements significantly for the Golden Visa category in order to encourage qualified professionals, business owners, and high-net-worth individuals to stay and invest in the nation.
If you are interested in this Green Visa, then here are important details:
What is UAE’s Green Visa?
The UAE’s Green Visa is a special type of residence visa given to people who want to work in the UAE at their own expense for 5 years. With this visa, the visa holder no longer needs a sponsor who is a citizen of the UAE or an employer.
Who can apply?
Anyone who wishes to work in the UAE and has adequate capital to survive for five years can apply for a Green Visa. People who come under the below-mentioned category can apply for a Green Visa:
Freelancers or self-employed individuals
Self-employed and freelancers need to provide/submit the following documents to apply for a Green Visa:
- A license from the Ministry of Human Resources and Emiratization for self-employment
- Evidence of a bachelor’s degree or another relevant diploma
- Proof of self-employment income for the previous two years totaling at least AED 360,000 is required, or applicants must demonstrate their ability to maintain their financial stability while living in the UAE.
A skilled employee needs to submit the following documents to get the UAE’s Green Visa.
- A valid employment contract
- According to the Ministry of Human Resources and Emiratization, individuals need to be categorized in the first, second, or third occupational level.
- Certificate for a bachelor’s degree or an equivalent qualification
- Salary certificate of not less than 15,000 AED.
Partners or investors
Investors who establish or engage in commercial activities are granted the Green Visa. It replaces the previous residency permit, which was only valid for two years.
- Confirmation of the investment and evidence of investment.
- The total invested capital will be determined (if the investor/partner holds multiple licenses).
- The consent of the relevant local authorities.
Benefits of UAE’s Green Visa:
UAE’s Green Visa has baby benefits that make it the first choice of migrants. Along with you, this visa will provide benefits to your family members as well.
- Green Visa holders can easily obtain residence permits for their spouses, children, and first-degree relatives.
- This visa provides you the ability to sponsor your male children for up to 25 years (previously 18 years) and there is no age limit for unmarried daughters.
- Unrestricted residence permits are given to children of determination (those with special needs), regardless of their age.
- Longer and more flexible grace periods of up to 6 months will be provided to the visa holders after the residence permit is revoked or expires.
- Family members will share the same residency as the primary holder of the residence visa.
How to renew the visa?
After expiring, the visa is extendable for the same period.