To stay in the UAE on a long-term basis, expats are required to obtain a residency. In our previous article, we provided the key outlines of the property investor visa. In this article, we would like to outline the new types of resident visas, and the main characteristics of each type. 

Benefits of resident visas include the following:

• Visa-free access to several countries (For example Georgia, Maldives, Mauritius)
• Opening a bank account, as well as the ability to apply for the bank loan
• Ability to enroll children in government and private schools
• Ability to obtain a driver license
• Access to a range of health packages from the government and to obtain health insurance packages for any choice
• Access to a diversity of types of Covid-19 vaccines with no fee 

Types of UAE resident visas

UAE Golden visa

Golden visa can be opened for 5 or 10-years, and this type of visa was first introduced in 2019 and allows foreign nationals to live, work, and study in the UAE while owning 100% of their businesses. Holders of the visa are not required to have a national sponsor. This type of visas requires investments worth at least AED 10 million for 10 years, and a minimum AED 5 million for 5 years. 

Moreover, a 10 years visa is given for individuals, possessing special skills in scientific disciplines, such as doctors, scientists, and inventors, as well as creative individuals in the fields of culture and art. The spouse and children are also eligible for the visa. All categories must have a valid employment contract in the UAE in a priority specialized field. A 5 years visa, on the other hand, can be issued for students with an overall score of 95% in public and private secondary schools, as well as university students both inside and outside the country, scoring a GPA of at least 3.75.

Retirement visa

For individuals, wishing to retire in the UAE, there's a Dubai Retirement Visa specifically offered for them. In 2018, the UAE government introduced a new visa aimed exclusively towards retirees, including those living abroad and those who have already reached retirement age in the UAE. This visa is issued for 5 years, and the applicant must be at least 55 years old and meet one of the following criteria to be eligible for a Dubai Retirement Visa: holding monthly active income from investments or pensions of at least AED 20,000; holding the minimum amount of AED 1 million in financial savings in the account, or purchasing a property in Dubai, worth at least AED 2 million.

Green visa

The UAE government announced this visa category on September 5th, 2021. Similarly, skilled employees, investors, entrepreneurs, outstanding students, and talented graduates are all targeted by Green Visa. Although similar to the Golden visa, it has several differences. 

The Green Visa is issued for 5 years, and it allows foreign specialists to apply for employment without the work contract from employers. The Green visa will also allow foreigners, who lost their jobs in the UAE to stay in the country for up to 180 days.

Holding this type of visa, an individual is able to sponsor his parents, children, and spouses. In order to sponsor a parent, the candidate must hold a monthly salary of at least AED 20,000. This type of Visa will allow foreign citizens to sponsor their parents and sons until they reach the age of 25, as opposed to the current restriction that a parent can only sponsor sons until they reach the age of 18.  

Freelancer visa

This is the first federal program of its kind, allowing self-employed people to sponsor themselves, with no work permits or work contracts. The freelancer visa is available to workers, who are based in the UAE or abroad.

In honor of the UAE's 50th anniversary, the government has launched the "Projects of the 50" campaign, drawing out a roadmap for the country's future growth and strategic development in the next 50 years. Thus, the country is awarding long-term residency visas to eliminate visa-related constraints and entice foreign investors and talents to live, work, and study in the UAE without the need for a sponsor.

If you would like advice or assistance concerning the application for any kind of UAE resident visa, kindly contact us. 

Marsel Shadmanov

Head of Corporate Services at Garant Business Consultancy DMCC

Phone +971 4 421 4335

Email info@garant.ae