What is Green Visa UAE?
Green is the new buzzword for its connection to something being eco-friendly or pollution-free but the UAE government has come up with a unique opportunity for people around the globe to upgrade to a life that is luxurious, fulfilling and full of exciting opportunities with Green Visa UAE. Before this scheme was proposed, it was difficult for an individual to obtain long-term residency in the UAE, and limited visas were issued to them in connection to their employment.
With the UAE green visa, such restrictions have been relaxed to reduce their reliance on fossil fuels and invite talent from across the world that could help UAE to develop its economy at a faster pace. This move of the UAE administration has been welcomed by several entrepreneurs, business persons, investors and employment seekers.
“It is heartening to see that the UAE’s leadership has decided to commemorate the country’s golden jubilee through a series of futuristic initiatives that outline the roadmap for the next 50 years. The new project has the potential to transform the economy and drive growth in the country. The residency reforms, including the launch of the Green Residence Visa, will have a tremendous impact on attracting and retaining top talent in all sectors especially, healthcare.”-Dr. Shamsheer Vayalil, NRI entrepreneur and chairman and MD of VPS Healthcare
Along the lines of the Golden Visa scheme offered to high-net-worth individuals for five or ten years who are entitled to residency in the UAE without the need of a sponsor, the Green Visa UAE is an attempt to attract a wide pool of working talent. What makes it more impressive is that UAE green visa holders can sponsor their parents and children Up to the age of 25 years.
Interestingly, “Foreigners account for 90 per cent of the 10 million population in the UAE, the Arab world’s second-largest economy after neighbouring Saudi Arabia.”
Such moves become a clear sign that the country is open to accepting new talent which in turn has impressive spillover effects over the improvement of the global economy. UAE has always remained among the top five trading partners of India. With the launch of this scheme, Indian startups and citizens can use it to gain access to the burgeoning market of the UAE giving a push to business tourism as well.
Green Visa UAE Benefits
There are enormous benefits associated with the green visa UAE in terms of giving a fillip to expanding its economy, supporting immigration, and providing a safe and diverse work environment with the unbounded potential to progress as a country. The fact that highly skilled people, investors, entrepreneurs, exceptional students and post graduates will become the visa to use for green card holders due to its relaxation on the sponsorship aspect, where one exercises the liberty to sponsor oneself. They are no longer dependent upon their employers for acquiring a sponsorship to live in the UAE.
The real estate market of the UAE is a blessing for investors and residents alike as its sheer luxury at an affordable price never fails to charm anybody.
Intending to enhance employment opportunities for foreigners in the country, UAE has recently introduced a Green Residence Visa to spur its economic growth and development. Under this program, a prospective worker may no longer need the sponsorship of an employer to work in UAE. Now highly skilled people, investors, entrepreneurs, exceptional students and post-graduates can sponsor themselves as well as their parents for a period of 5 years.
According to the earlier norm, if a worker lost their job they had to leave the country within 30 days, this grace period has now been extended up to six months so that they can seek other employment options within the country.
UAE Visa requirements for green card holders of different categories of individuals have been listed below-
1) Skilled employees:
- Must have a valid employment contract
- Be classified in the first, second or third occupational level as per the Ministry of Human Resources and Emiratisation
- Hold a minimum bachelor’s degree or equivalent
- Have a salary of not less than AED 15,000.
2) Freelancers/self-employed people:
- A freelance/self-employment permit from the Ministry of Human Resources and Emiratisation
- Proof of a bachelor’s degree or specialised diploma
- Evidence of annual income from self-employment for the previous two years for an amount not less than AED 360,000, or prove financial solvency throughout their stay in the UAE.
3) Investors or partners:
Under the previous scheme, those engaged in commercial activities in the UAE were entitled to a residence visa that was valid for 2 years only. With the green visa, this duration has been relaxed.
- Approval of the investment and proof of investment (If the investor/partner has more than one licence, the total invested capital will be calculated.)
- Approval of the competent local authorities.
UAE visa for green card holders is set to be available from September this year, however, the fees for availing of this are yet to be released. Information about the process of application is also awaited.
The introduction of the green visa is a clear indication that the UAE holds a positive mindset toward inviting foreign talent, businesses, investors and people interested to take advantage of its economic, social, infrastructural and seamless connectivity across the globe. According to experts, this is the best time to invest in UAE for its affordable yet luxurious real estate, conducive business environment, diverse society and favourable government policies. So working in the UAE just got a lot easier!
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