The UAE Cabinet, led by Vice President, Prime Minister, and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum,It has adopted the Federal Decree-Law on Entry and Residence of Foreigners’ executive regulations. Seven sheikhdoms, including Dubai and Abu Dhabi, make up the United Arab Emirates.
The new entry and residency system aims to increase the competitiveness and flexibility of the job market, attract and retain competent employees from around the world, and build a strong feeling of stability among UAE citizens and their families.
-
Golden Residence
The Golden Residence Scheme has undergone significant changes to extend the categories of beneficiaries and streamline the eligibility requirements. Investors, business owners, remarkable talent, scientists, professionals, great students, recent graduates, humanitarian trailblazers, and frontline heroes are all eligible for this lengthy 10-year residence.
The changes let the holder of a Golden Residence to sponsor unrestricted numbers of domestic workers and members of his or her family, including spouses and children of any age. The Golden Residence may be used for an unlimited amount of time outside the United Arab Emirates without any time limits.
-
Golden Residence for Qualified Scientists
On the basis of a recommendation from the Emirates Scientists Council, this residency is given to scientists and researchers with significant achievements and influence in their profession.
The applicant must hold a PhD or master’s degree in engineering, technology, the biological sciences, or the natural sciences from one of the top universities in the world, in addition to having made significant scientific advancements.
-
Golden Residence for Qualified Professionals
To draw in highly qualified professionals with training and work experience in all fields, including medical, the sciences, engineering, information technology, business and administration, education, law, culture, and the social sciences, a significant growth in this category is introduced.
The applicants should be in the first or second occupational level according to the Ministry of Human Resources and Emiratisation classification, which is in line with the International Standard of Classification of Occupations ISCO by the International Labour Organization. They should also have a current employment contract in the United Arab Emirates.
A bachelor’s degree or its equivalent is require as the minimum educational requirement, and the monthly compensation cannot be less than AED30,000.
-
Real estate investors’ golden residence
Golden Residence is available to real estate investors who spend at least AED2 million on a home.
As a result of the recent revisions, investors who borrow money from particular regional banks to buy a house are also eligible to get the Golden Residence. When purchasing one or more off-plan properties from recognised local real estate firms for at least AED2 million, investors may additionally qualify for a Golden Residence.
-
Golden Residence for Business owners
An entrepreneur must own or be a partner in a startup that is register in the country and falls under the small and medium enterprises (SMEs) category, and that firm must have annual revenues of at least AED1 million to qualify for the Golden Residence, according to the executive regulations.
To qualify for the Golden Residence in this category. A startup idea must also receive permission from a recognised business incubator, the Ministry of Economy, or the appropriate local authorities.
The Golden Residence will also be available to the person. If they were one of the founders of a prior entrepreneurial venture that sold for a sum of at least AED7 million.
For projects or ideas, the Ministry of Economy or the appropriate municipal authorities must give its approval.
-
Green Residence for Self-Employees and Freelancers.
This option offers freelancers and other self-employed. And people a 5-year residency without the need for a sponsor or employer in the UAE. In keeping with the growing significance of flexible work patterns. A bachelor’s degree or specialized diploma is require as a minimum educational level. And the applicant must either demonstrate financial stability throughout their stay in the country. To obtain a freelance/self-employment permit from the Ministry of Human Resources and Emiratization, or meet other requirements.
You can check out On Time Biz for more informations. They can also provide assistance related to Freezone company set up and Dubai Mainland company Setup asper their clients need.
Add Comment