Mishaal Arshad C.M Underground News
- UAE aims to strengthen its position as exemplary place to live, work, and invest.
- Many amendments can be seen in Golden Residence and Green Residence schemes make it easy for plethora of people to live in UAE.
- Executive regulations shall come into action after ninety days from date of its publication.
In order to strengthen the UAE’s position as an exemplary place to live, work, and invest in, the UAE cabinet has announced new entry and residency rules, Gulf News.
The Golden Residence Scheme has seen some significant amendments. These changes make it easier to fit the eligibility criteria and they widen the categories of beneficiaries. Investors, entrepreneurs, scientists, outstanding students, and first-line heroes are granted 10 years of residence.
A Golden Residence holder can sponsor their family members, and there is no limit to the duration of an outside stay to keep the residence valid.
Golden Residence for scientists with exceptional achievements has its own list of benefits after they get a recommendation from the Emirates Scientists Council.
Professionals from a variety of fields with valid employment contracts in the UAE can benefit from the scheme. The monthly salary should, however, not be less than thirty thousand dirhams.
People with exceptional talents, including students and graduates, regardless of their educational background, recommended by federal or local government bodies are encouraged to apply.
Entrepreneurs and real estate investors with revenues of AED1 million and AED2 million, respectively, are entitled to obtain the Golden Residence.
New five-year tracks have also been introduced, with even more benefits.
Another scheme with the name of Green Residence is available for skilled employees and freelancers.
Green Residence holders can bring their first-degree relatives. Children’s age has been raised from 18 years to 25 years.
There are many reforms when it comes to entry visas as well and for those who want to visit their friends and relatives.
Gulf News reported that the executive regulations of the Federal Decree-Law on Entry and Residence of Foreigners will come into action after ninety days from the date of its publication in the Official Gazette,
