On a distinguished occasion in Dubai on September 5th, 2021, the UAE government made the Green Visa announcement. The new visa category is one of the first 13 “UAE Projects of the 50”. These important national initiatives hope to draw exceptional people from all over the world and support the UAE’s incredible growth for many years to come. Read along to know all that the government has said about the UAE Green Visa up until this point. Here A&A Associates gives all you need to know about green visas.
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The UAE Green Visa 2022: What is It?
In essence, the UAE Green Visa is a new type of resident visa that differentiates between employment and residency permits. With the Green Visa, highly qualified individuals, investors, business owners, and top students and graduates will be able to sponsor themselves without initially becoming affiliated with organizations established in the United Arab Emirates.
In the past, to remain and work in the UAE, foreign nationals required sponsorship. Now, mandatory sponsorship from an employer will no longer be a hurdle for holders of Green Visa. Instead of the customary 30-day term, it offers a 90–180 day renewal opportunity. connecting themselves with UAE-based businesses. Click here to know more.
What Advantages does the UAE Green Visa 2022 Offer?
Officials claim that the introduction of the Green Visa program is a component of the UAE government’s initiatives to entice extraordinary talent and stimulate economic growth. The UAE has recently announced new categories for Golden Visas as well as new entrance visas and resident permits. The new system of entry and residence has been implemented to draw in and keep skilled employees from all over the world, increase the job market’s flexibility and competitiveness, and promote a high level of stability among UAE citizens and their families.
New 5-year residency tracks, which were developed primarily to entice talents, skilled professionals, freelancers, investors, and entrepreneurs, are among the significant enhancements to the UAE Green Visa. In addition to streamlining and simplifying the requirements for all types of residence, additional benefits are being provided, such as extended flexible grace periods of up to 6 months for individuals to remain in the nation after their residence permit is revoked or expires to support the residence of family members.
Read More to know about how to get started in UAE.
Certificate of Incorporation
A business license is one of the essential requirements for launching a business in the UAE. The sort of license to register for your business will be determined exclusively by the nature and type of your business. Consequently, a license will allow you to become a fully registered investor in the UAE.
In contrast, an offshore company’s licensing requirements are distinct. You will only receive a certificate of incorporation for Offshore company formation in the UAE. This indicates that offshore companies do not give a license, particularly for new businesses. It is vital to remember this before establishing an offshore business in the UAE.
For experienced professionals, independent contractors, investors, and business owners, the UAE Green Visa now offers a 5-year residence track. More advantages for foreign nationals come with the new visa, such as adjustable grace periods (that reach up to 6 months). The updated admission and residency procedures are designed to draw in a talented workforce from all around the world. Contact A&A Associates for more information.
The prerequisites for various categories of UAE Green Visa are listed below.
Residence Advantages and Eligibility Criteria
Green residence for skilled employees
For skilled workers, the new track of the Green residence offers a 5-year resident duration without a sponsor or employer.
Here, the only prerequisites are:
- Candidates must have a working job contract
- according to the Ministry of Human Resources and Emiratisation, fall under the first, second, or third occupational level
- A bachelor’s degree or its equivalent must be the required minimum level of education
- The pay of the applicant should not be less than fifteen thousand dirhams (USD 4,083.74)
Green residence for freelancing and self-employment
The new Green residence for freelancing and self-employment offers a 5-year residency for freelancers and self-employed people in the UAE without the need for a sponsor or employer in light of the significant global growth of the freelancing industry and the idea of flexible work arrangements.
The prerequisites are:
- acquiring a permit from the Ministry of Human Resources and Emiratisation to work for oneself or as a freelancer.
- a diploma or degree with a bachelor’s degree is the minimal requirement for schooling.
- a self-employment income of AED360,000 (USD 9,800.99) each year for the previous two years, or the applicant must demonstrate their financial stability for their whole stay in the nation.
Green residence for investor or partner
To promote investment, the Green home for partners or investors has been introduced. It grants investors who launch or engage in commercial activity five years of residency. Additionally, it takes the place of the prior residency, which was good for two years.
The prerequisites comprise:
- Investment approval and investment documentation
- The total invested capital will be determined if the investor (partner) has multiple licenses.
- It is necessary to obtain the proper local authorities’ approval
Family members receive extra benefits under the new scheme. The UAE now makes it simple for residents to bring their families, including their spouses and kids, with them.
Additionally, there is no upper age limit for unmarried daughters, and the age of children has been increased from 18 to 25 years old. No matter their age, children of determination are given a residency permit.
First-degree relatives of the Green Residence holder are welcome to join them, but they must always stay for the same length of time as the original residence holder.
If you are looking for a level of privacy, an offshore company in the United Arab Emirates makes sense. Directors’ and shareholders’ identities remain closely guarded secrets. It is necessary to notify the Company Registry of any such occurrences.
It is a wonderful place to be, and the UAE is experiencing rapid expansion. The nation is making a lot of effort to become a wonderful destination to live in, visit, and work in. For independent contractors, business owners, skilled workers, and investors, the Green Visa in the UAE offer distinctive options. Do not let the application procedure for your Green Visa be stressful if you are prepared to do so. Get in touch with us right away, and we will assist you to make the procedure easy and stress-free.
A&A Associates assure you of the best way to make it big in the UAE. Get in touch with us right away.