The UAE, is, without doubt, a perfect destination for education, investment, work, and entrepreneurship considering its flourishing economy. The UAE authorities continue to bring in new opportunities for the investors, bringing in new types of residence permits, and visas.
Lately, the UAE announced its new residence and entry system to bring in and retain skilled workers and global talents all around the world. This UAE green visa is a 5-year residence program designed to attract skilled professionals, talents, investors, entrepreneurs, and freelancers, offering a more flexible grace period of as much as 6 months.
What is a green visa UAE and how does it work? We’re here to help guide you through everything about the Green Visa in UAE. Let’s get started.
What is the Green Visa UAE?
The Green Visa UAE is a new type of residency visa that differentiates between UAE residency and work permits. With this UAE visa very skilled investors, people, top graduates and students, and entrepreneurs can sponsor themselves without the need of associating themselves with UAE-based companies.
Green Visa UAE Eligibility: Who Can Apply and What are the Requirements?
The green visa UAE has a residence track of 5 years for freelancers, skilled professionals, entrepreneurs, and investors. It also offers greater benefits for the ex-pats. The grace periods are flexible going as much as 6 months. The improved residence entry system is designed to attract talented people from all over the globe. Here are the groups who are eligible and the UAE green visa requirements.
1. Green Residence for the Skilled Employees
This green visa category is designed to bring in talented individuals, offering them a 5-year residency. These skilled employees don’t need an employer or sponsor in this case. The documents required are given below.
- A valid contract of employment.
- Applicants need to classify for the first, second, and third levels of occupation, as the Ministry of Human Resources and Emiratisation maintains it.
- A degree in bachelor’s or any equivalent is required as the minimum for skilled employees’ UAE green visas.
- A salary of at least 5,000 AED.
2. Green Residence for Self-Employment and Freelancing
The new UAE Green Visa for Self-Employment and Freelancing is designed for those people with a working model that is flexible and has good worldwide growth. Like earlier, the advantage of this visa is that no employer or sponsor is required. Below are the criteria for eligibility for this visa.
- Get a self-employment or freelance permit from MOHRE, UAE’s Ministry of Human Resources and Emiratisation
- Bachelor’s or specialized diploma degree is the minimum required education
- The self-employment annual income for the prior two years must not be below 360,000 AED.
- Alternatively, applying for this visa requires the applicant to give financial solvency throughout the country stay.
3. Green Residence for Partner or Investor
As suggested by the name, the partner or investor visa is designed for potential investors. This visa covers a residency of 5 years for the investors who are willing to set up a new firm in the country or take part in different commercial activities. The partner or investor green visa is a replacement for the earlier 2-year validity visa. Following are the eligibility criteria.
- Investment proof (if the investor holds several licenses) and investment approval.
- Calculation of the complete investment capital
- Approval of the local, competent authorities is also a must
What is Green Visa UAE Cost?
The green visa cost in UAE is not released as yet but we will keep you updated with the latest information. We will let you know about the cost as soon as the UAE government gives updates.
How to Apply for the Green Visa UAE?
Since there are yet no details about the green visa UAE apply online, you’ll have to wait a while till further details are updated.
Benefits of the UAE Green Visa?
The UAE green visa details released so far show this program to be a wonderful opportunity for skilled and talented individuals to start their business in the UAE without any employer or sponsor. Here are the benefits.
1. No Sponsor Needed
One of the Green Visa UAE Benefits is that you don’t won’t need an employer or sponsor, unlike other visas. In this way, your sponsor can’t cancel your visa, hence it’s more secure.
2. Sponsoring Family Members
Another benefit of this visa is that you are free to sponsor children, parents, and other members of the family. These include first-degree relatives, spouses, and dependents, and they are offered the same benefits and rights as you. This incentive tends to be beneficial for self-employed businesses or individuals and foreign entrepreneurs as they can keep their family members with them as they work in the country.
3. Easy Travel and Flexible Living
Another thing about the green visa is that it makes travel in and out of the UAE very easy. You can easily exit and reenter the UAE from another country. Moreover, with the green visa, you also get the benefit of living and working flexibly in the country.
4. Start Business Without Taxes
With the UAE green visa, investors can easily start their businesses and manage them, recruiting and managing staff as needed. You can work in Dubai Free Zone with this visa, a great place to start your business. The benefit of the green visa is that you can easily start your business without taxes, hence benefiting from a tax-free environment.
5. Flexible Grace Period
The UAE green visa also offers longer and more flexible grace periods reaching up to 6 months of stay in the UAE once the permit has expired or canceled
The Verdict
With UAE’s booming economy and increasing business opportunities, there can be no better time than now to live and work here. Amongst the many other incentives, the government offers for foreign investors, the green visa is a milestone. While this is yet a new incentive by the government, we have updated you with the details that are yet available. We will update you about the cost and application process as soon as the UAE government hands in the details.
