Changes made by UAE in residency, entry and golden visas.
The UAE Government Media Office posted a couple of circulars with new information regarding the visa scheme of the country. The new types of visas fall under Residence permits, New Entry, and Golden visas. Requirements for each vary.
The new system of residence visas targets skilled employees, freelancers, and investors allowing them to obtain a 5-year residency without a sponsor.
Real estate investors can obtain Golden Residence when purchasing property that is worth no less than AED 2 Million.
As per the new amendments, investors are also entitled to obtain the Golden Residence when purchasing a property with a loan from specific local banks. Investors can also obtain Golden Residence when buying one or more off-plan properties of no less than AED 2 million from approved local real estate companies.
The new Entry Visas offer a variety of visa types for different visit purposes. They are available for single or multiple entries and do not require a host or sponsor. They are available for job seekers, business, tourism, studies, or temporary work missions.
As for the Golden Visas, the eligibility criteria and categories of benefits have been expanded. Golden Residence holders can now sponsor his/her family members regardless of their age. There are also no restrictions related to the minimum duration of stay outside the UAE in order to keep the Golden Residence valid. Family members are allowed to stay in the UAE in the event of the death of the original holder of the visa until the end of their permit duration.