As part of the UAE’s Artificial Intelligence Strategy 2031. The DIFC introduced an AI and coding licence. This was to attract AI firms and coders from across the world. It’s the world’s first programme of its sort. This is a programme launched in collaboration with the UAE Artificial Intelligence Office. Additionally, the licence allows staff working in such organisations to receive 10- year Golden Visa of UAE.
UAE’s 10-Year Golden Visa With This New License
The licence would allow enterprises to work in the DIFC Innovation Hub, which is the region’s largest concentration of FinTech and innovation companies. More than 500 companies, ranging from start-ups to global unicorns, call the Hub home, accounting for more than 60% of all GCC FinTechs.
The license allows employees working in the registered #DIFC companies to obtain UAE 10-year Golden Visa.
Companies holding the license will be able to work in the DIFC Innovation Hub, the largest cluster of FinTech in the region. #uae #visa #ai pic.twitter.com/tgYhWi2dxs
— lecocqassociate (@lecocqassociate) March 2, 2022
The golden card is a long-term residence scheme introduced in May 2019 by Sheikh Mohammed bin Rashid. He’s the Dubai’s Prime Minister and Ruler. More than 400 investors and entrepreneurs, and even some of their families, had already been awarded the visa. This was shortly after its inception, with dozens more obtaining it every day.
Why Was The Scheme Put In Place?
The goal is to make the UAE a more appealing investment destination. Encouraging new business creation and attracting fresh talent is the goal.
Long-term residents who have contributed to the growth of the country are also recognised. They are further, encouraged to continue investing in the UAE.
The golden card was previously marketed as a perpetual residency programme. But the General Directorate of Residency and Foreigners Affairs has now clarified that it is really a 10-year visa that may be easily renewed. Normally, the UAE does not offer expats perpetual residency cards. But the golden card is a 10-year Golden visa that can be easily renewed.
Professionals with a wage of Dh30,000 or more are also eligible to apply for the visa. A bachelor’s degree or its equivalent would be the requirement. Also, five years of job experience. They should possess a current contract of employment.