Golden Visa

UAE employers lure valuable staff with Golden Visa

In the United Arab Emirates, employers have begun luring valuable staff with long-term residence permits – 10-year Golden Visa. Such bonuses are offered to applicants for key positions with the required skills.

It is noted that the demand for staff in the UAE is growing, so the practice could soon spread to other candidates as more and more foreigners seek options to extend their stay in the country. Online portal Property Finder notes that managers, as well as IT professionals, are in particular demand today.

In addition, special conditions are offered to new employees in companies involved in healthcare and high-tech. The Golden Visa is a strong incentive for foreigners to move to a new country.

In April 2022, the UAE Cabinet approved one of the biggest visa reforms in recent years. This included changes to the Golden Residency Programme to attract investors and skilled people to the country, as well as academics and talented students and graduates.

For holders of the 10-year residency permit, the time limit for maximum stay outside the UAE was abolished. They can sponsor spouses, children of any age and domestic staff (unlimited). Upon the death of the holder of a golden visa their family can remain in the UAE until the expiry of their visa.

Golden Visa is issued to scientists, outstanding students and university graduates with scientific achievements, degrees in fields such as engineering and technology, and recommendations of the UAE Council of Scientists. Outstanding students from UAE high schools, graduates from local universities or top 100 higher education institutions around the world are eligible to receive the 10-year award.

In addition, qualified workers with professional experience in various fields with a valid employment contract, with a scientific or academic degree at least a bachelor’s degree and a salary of at least 30 thousand dirhams per month (US$ 8.2 thousand) can apply for a Golden Visa.

The 10-year residence permit is available to holders of outstanding achievements in the fields of culture, arts, sports and digital technology, as well as investors in real estate, including those under construction, worth at least AED 2 million, which can be purchased with a mortgage (loan can be taken out at a local bank). Entrepreneurs who own a business in the UAE with an annual income of at least AED 1 million (US$ 272,000) can also obtain a Golden Visa.

Source: Gulf News

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