By thabasheer

31 - 08 - 2022

Everything You Need to Know About The New Green Visa Announced by the UAE Government

The UAE government announced the Green Visa on September 5, 2021, during a formal event in Dubai. This new Green Visa is announced as a part of "UAE Projects of the 50". With the help of these significant national efforts and the new class of resident visas, the UAE hopes to continue its phenomenal growth and attract extraordinary and highly skilled professionals from around the globe.

Learn more about what the government has revealed so far regarding the UAE Green Visa. Everything you need to know about green visas, including the requirements and eligibility is provided in this blog by Perfect Plus.

What is Green Visa?

The UAE Green Visa is a new resident visa category that distinguishes between work and residence permits. Highly qualified people, investors, company owners, and skilled graduates will be able to sponsor themselves with the Green Visa without first joining forces with businesses founded in the United Arab Emirates or not having the requirement of a local sponsor.

Foreign nationals needed sponsorship in the past if they wanted to stay and work in the UAE. Holders of Green Visas will no longer face a barrier as a result of the requirement for employer sponsorship. It provides the option for up to 180 day renewal period rather than the normal 30-day grace period after the cancellation of the residency visa. This helps the green visa holder to switch jobs or find a new employer without worrying about their grace period.

According to representatives, the implementation of the Green Visa program is a part of the UAE government's attempts to attract exceptional talent and boost economic growth. Recent announcements from the UAE include new categories for Golden Visas, new admission visas, and residence permits. A new system of admission and residency has been put in place to attract and retain qualified workers from all over the world, boost the flexibility and competitiveness of the employment market, and foster a high degree of stability among UAE nationals and their families.

Benefits of the new Green Visa

One of the key improvements to the UAE Green Visa is the addition of new 5-year residency tracks, which were created to draw in talents, skilled professionals, freelancers, investors, entrepreneurs and graduates from the top universities worldwide. Additional benefits are being offered, such as extended flexible grace periods of up to 6 months for people to remain in the country to seek new employment after their current residence permit or employment contract is revoked or expired. Also, to support the residence status of family members, in addition to streamlining and simplifying the requirements and process for all types of residence.

Who are eligible for the UAE’s New Green Visa?

Self-employed / Freelancers

Under this new visa scheme, freelancers / Self-employed people can stay and work in UAE without the requirement of a local sponsor. The green visa offers them a 5-year residency, promoting the new flexible and remote work opportunity for the skilled. The requirements to apply for the Green Residency for the freelancers/self-employed are:

Acquiring a work permit from the Ministry of Human Resources and Emiratisation to work as a freelancer or to work for oneself.

Minimum Education requirement (Degree / Diploma Certificate from an eligible educational institution)

Proof of sufficient funds or financial stability. This can be done by submitting proof of income not less than AED 360000 (USD 9,800) each year for the past 2 years.

Investors / Entrepreneurs

The 5-year residency for investors is the most important aspect of this new Green Visa. It will be granted to those who invest in the country, and it will allow them to live and work in UAE for five years. This will allow UAE to attract investors from across the world who will see the Emirates as a safe place to invest in. The visa is renewable after 5 years if an investor maintains their investment in the UAE. The requirement to apply for the new green residency visa for investors are:

Proof of Investment made in the country (Not less than 1 Million AED) / Investment Approval.

If the person has multiple investments then the total value of the investment will be calculated.

The Investment must be approved by the Local Authorities initially.

Skilled Employees / Graduates

Skilled professionals such as Doctors, IT Professionals, Scientists, and Researchers are in great demand all over the world. To retain and attract top talents and graduates of top-class universities across the world, the UAE Government extended the Green residency scheme to such individuals.

Under this Green Residency scheme, top skilled professionals can self-sponsor themselves in UAE and work for the companies with their self-sponsorship for 5 years. Given, they must meet the eligibility criteria, which are:

Candidates must have a valid employment contract from a registered company in UAE having a salary of 15,000 AED Per Month.

Must fall under one of the categories of Skilled Levels of Jobs in UAE, Defined by MoHRE.

A Bachelor’s Degree from a recognized educational Institution or Minimum required educational qualification.

The new green residency program will offer an opportunity for expats and talented people in the UAE to benefit from the countless employment, business and investment opportunities the country has to offer.

Need to know more about this new visa scheme? Be sure to contact the experienced Business Consultants at Perfect Plus Businessmen Services today for free consultation and advice regarding the New Green Visa.

Visit our Website perfectplus.ae

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Benefits of the new Green Visa

Who are eligible for the UAE’s New Green Visa?