UAE Green Visa: New Five-Year Residence Scheme Announced For Employees And Investors

by Deeplata Garde
UAE Green Visa: New Five-Year Residence Scheme Announced For Employees And Investors

To encourage intellectuals, skilled professionals, freelancers, investors, and entrepreneurs, the UAE has introduced new 5-year residency tracks. After a residence visa expires, the plan allows for prolonged grace periods of up to six months to remain in the country. This programme provides competent employees with a five-year residence without the need for a sponsor or employer. And the permit takes the name, Green Visa.

Green Visa For Freelancers

This plan encourages employees to work in a variety of ways. A sponsor or employer is not a requirement for the five-year residence for freelancers and self-employed persons. The Ministry of Human Resources and Emiratisation would need the applicant to get a freelance/self-employment permit. A bachelor’s degree or specialised diploma should be the proof. The yearly revenue from self-employment for the preceding two years must not be less than 360,000 Dirhams. Alternatively, the applicant might show that he or she is financially stable during their stay in the nation.

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Investors And Entrepreneurs To Recieve 5-Year Residency

The purpose of this residence is to attract investment. It offers investors who are creating or engaging in commercial activity a five-year residence. It takes the place of the prior residency, which was only valid for two years. Authorization of the investment and evidence of investment are two requirements. They might calculate the total invested capital if the investor (partner) owns more than one licence. The approval of the appropriate local authorities is mandatory.

The highly touted Green Visa for qualified workers will get for a term of five years. According to the Ministry of Human Resources and Emiratisation, applicants must have a current work contract. They have to fall under the categories of the first, second, or third occupational level. A bachelor’s degree or comparable education is mandatory, as well as a salary of at least 15,000 Dirhams.

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