UAE Visa: Latest Update on Residency Options

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The UAE has witnessed sheer economic growth in the last decade and has become a household name in many countries. The country is home to sprawling deserts but has also emerged as the most developed country in all of Middle East.

Seeing as how the majority of UAE citizens are expatriates, the UAE government has been incessantly introducing reforms and provisions to refine the living standards of the residents. No wonder why the UAE is one of the best places to set up your business. With the existing visa options, the UAE just recently announced more choices to expatriates who want to live and carry out new business setup in Dubai.

All the way from long-term Golden Visa to students being able to sponsor their parents, the UAE has introduced several residency options in the past few months, aimed at attracting tourists and retaining extraordinary talent in the country. No doubt as a result, there has been a visible increase in the number of business setup in Dubai.

Without further ado, let’s get into the complete list of updated visa categories that were announced earlier this month:

Work-in-Dubai Residency Scheme

Last October, the Dubai Media Dept. took to Twitter and announced that they are introducing a program that facilitates overseas remote working professionals to live in any of the Emirates while working for their employer in their home country.

This provision aims at empowering remote workers and their families and provides them the opportunity to work for their employer in their home country while enjoying a safe and ultra-high-quality lifestyle sustained by a strong digital infrastructure. Many employees are reportedly procuring this visa and then converting it into a Business Visa, which is required if you are planning on a new business setup in Dubai.

However, applicants must fulfil the below criteria:

Must be in possession of a passport.
Passport must have a validity of at least six months.
Minimum salary of $6000 per month.
Proof that you are employed with your current employer.
Must have one-year employment contract validity.
A three months’ bank statement.
Pay slip from your company

Student-Family Sponsorship

As per the Cabinet Resolution that was approved on Jan 24, foreign university students will now be able to sponsor for their family as long as they can earn a steady income and afford suitable housing. This revision in the Visa is proving to be a boon to graduates who have been aiming for a new business setup in Dubai.

UAE Golden Visa: Long-term residency

The UAE Govt. introduced the long-term residency visa scheme in 2019. This scheme enables foreigners to study, work and conduct life in the UAE without the need of a national sponsor. Not just that but the scheme also allows a cent percentage ownership of their business in UAE’s mainland. The UAE Golden Visa is issued for either 5 years or 10 years, with automatic renewal.

Researchers and savants are usually granted this visa to acknowledge their contributions in their respective fields. This visa has proved to be a boon for researchers who have been planning for business setup in Dubai.

In an amendment to the existing Golden Visa, the UAE Govt. in November 2020 approved the issuance of 10-year golden residency visas for more classes of professionals. Everyone holding Ph.D., doctorates, and engineers specializing in the fields of Computers, Electricals, Electronics, Programming, and biotechnology are eligible for the residency visa. Graduates with scores 3.8 or more in approved universities can apply for the Golden Visa.

Retirement Visa

The UAE Cabinet, in the September of 2018, had approved an act that provided retired residents who are 55 and older for a long-term visa for a period of five years.

In order to be eligible for a 5-year renewable retirement visa, the retiree must:

Invest in a property whose value must be AED 2 million or more.
Have at least AED 1 million as retirement savings.
Have an active income of minimum 20,000 Dirhams p.m.

Medical Visa

Earlier in 2017, the UAE Govt. announced the issuance of the updated medical treatment visa. This latest iteration of the Medical Visa allows foreign patients to be issued with a visa lasting for not more than 90 days. These visas can be renewed upon the respective hospital’s behest.

Special Visa

A couple of years back, the UAE issued a one-year residency visa for the citizens whose countries are war- and disaster-stricken. Widows, divorced women and their children come under this one-year special visa, and can renew their residency visa for one year only once.

How we can Help

With so many different options, it is easy to get bogged down in the details, which potentially puts a halt on your professional endeavors. For example, if you were looking for business setup in Dubai, you would need to know what all prerequisites you would need to get started; which is why professionals like Cross Link International exist.

Cross Link International are the top business setup consultants in UAE, who can help you in kickstarting your professional career here in the UAE. Getting clearances and permits to start a business in UAE is a long and tedious process, which requires the assistance of professionals. We will assist you in getting all your permits and will handle all other legal processes that entail a business setup. Call us on +971 4 321 6631 / +971 55 744 6445 or fill up this form for a callback!