Dubai's New Investor Visa Rules - Everything You Need to Know

Introduction

After a substantial review of its visa system, UAE has released new rules for UAE Entry Permit, which decide who can live and work in the UAE. The new investor visa categories have been introduced to make it easier for investors to move to Dubai and encourage further investment in the emirate's economy. These changes are designed to make Dubai even more attractive for high-net-worth individuals looking for a haven for their money and families.

What are the new rules?

So, the question arises about the new Dubai investor visa rules. For investors, the new visa rules in Dubai follow a similar pattern to those previously in place. The fundamental changes are as follows:

●     The new minimum requirement for investment is at least AED 10 million in the public sector in UAE or investing at least AED 5 million in a property.

●     Foreigners can apply for a five-year permanent residency to establish their company through the Golden Business Visa Scheme.

●     Applicants who want to gain possession through investing in real estate or other assets must prove ownership of these assets before applying for a visa or entry permit (previously, there was no requirement for proof).

 

Golden Residence

Amendments to the existing Golden Residence scheme have allowed the holder to sponsor their family members, regardless of their age, and to sponsor support services (Domestic) labourers without any limit on their number. The restriction on max stay outside of UAE to keep the Golden Residence is also scrapped.

In case of death of the holder of Golden Residence, their family members get to stay in the UAE until the end of the original holder's permit's duration. The Golden Residence is granted to:

●     Investors

●     Entrepreneurs

●     Exceptional talents

●     Scientists and professionals

●     outstanding students and graduates

●     humanitarian pioneers

●     frontline heroes

Golden Residence for Real Estate Investors

Obtaining a Golden Residence via investing in a property or new projects in UAE remains the best way to get your visa. However, it's worth noting that real estate purchases should be no less than AED 2 million.

New amendments also state that by taking up from specific local banks, they can automatically get entitled to the Golden Residence Visa. Furthermore, interested investors can obtain UAE Golden Visa by buying off-plan properties, be it one or more, worth no less than AED 2 million via approved property developers in UAE like Shapoorji Pallonji Dubai.

Golden Residence for Entrepreneurs

Entrepreneurs who own or are a partner in a startup registered in UAE in the small and medium enterprise (SMEs) category, which has generated annual revenues of at least AED 1 million, are also eligible for Golden Residence Visa.

Now, mere approval for a startup idea from an official business incubator or Ministry of Economics is enough to get you the Golden Residence under this category. Founders of a previous venture that sold off for less than AED 7 million are automatically entitled to a UAE Long-Term Residence Visa. (Golden Residence Visa)

Golden Residence for Skilled Employees

The Golden Residence for Skilled Employees (GREE) is a 5-year residency without a sponsor or employer. It's designed to attract skilled professionals ready to relocate to Dubai and start their own business within two years of obtaining the visa.

Although there are some specific requirements:

●     You must have a valid employment contract in the first, second or third occupational level as per the Ministry of Human Resources and Emiratisation(MHRE);

●     Your annual income should be more than AED 15,000; and

●     Your minimum education qualification should be a bachelor's degree or an equivalent.

Green Residence for Investor/Partner

You can apply for a Green Residence for investors establishing or participating in commercial activities. Now, a 5-year residency is available to you, replacing the previous two years' validity making residency by investment in Dubai possible.

Requirements Are:

●     Proof of Investment and Approval of Investment,

●     Total Invested Capital, if you have more than one license,

●     And final approval of the competent local authorities.

Green Residence for Freelancing & Self-Employment

You can also avail a 5-year residence for freelancers and self-employed individuals. There's no need for a sponsor or employer in the UAE. All you require is a:

●     Freelance/ Self-Employment permit from the Ministry of Human Resources and Emiratisation or your specialized diploma,

●     Annual Income through Self-Employment no-less than AED 360,000

●     Proof of financial solvency because of your stay in the country

New benefits for Family Members

With the new UAE Investor Visa rules, all investors and entrepreneurs in Dubai can now benefit from the UAE's residency and visa policies for their family members. Allowing residence permits to the investor's spouse and children.

New changes:

●     Raised age till 25 years from previous 18 years for children,

●     No age limit for unmarried daughters,

●     Children of Determination (disabilities) get a residence permit regardless of their age,

●     Green Residence Holders can issue residence permits for their first-degree relatives with the same validity as the original residence holder.

New System for Entry Visas

Depending on the purpose of the visit, UAE visitors can choose from the new types of visas that don't require sponsors or hosts for the first time. Amendments include:

●     Flexible Visa Durations that meet the need and purpose of the visa holder,

●     All Visas are available for single or multiple entries.

●     They can be renewed for a similar period with a validity of 60 days from the date of issuance.

Job exploration Entry Visa

The Job Exploration Entry Visa is a visa that allows you to explore the job market in Dubai. You can apply for this visa if you are:

●     Classified in the 1st, 2nd or 3rd skill level as per MHRE,

●     Or fresh graduate of the Top 500 Universities in the World

●     With a Minimum Bachelor's or its equivalent degree.

Business Entry Visa

The business entry visa allows you to establish your dream venture with easy entry to explore business and investment opportunities. There is no requirement of a host or a sponsor anymore. You can apply for an investor residence visa after which you can go on enjoying the benefits of investing in the UAE.

Entry visa for a Temporary Work Mission

Intended for people on a temporary work assignment sponsored by the employer. All it now requires is:

●     Proof of Health

●     Temporary Work Contract or Letter of Employer stating the purpose of visit

Entry visa for Study and Training

Suppose you are a student attending training and study courses or participating in internship programmes in the UAE. In that case, your sponsor can be the education or research institution or your university. However, students must apply for a residence visa with a letter from the designated entity which clarifies the details of the training, study or internship program and its duration.

Conclusion

Suppose you are interested in investing in new projects in UAE or getting UAE residency by investment programs. In that case, the new Golden Residence visa is a great option.

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