Foreign citizens make up a large portion of the UAE’s population and are vital to the country’s economy. The government of the UAE is implementing a number of strategies as part of a larger effort to recruit top personnel and increase international investment. The initiative to implement a new class of visas known as “Green Visas,” will allow expats to apply for work without the need for an employer’s sponsorship.
The move is intended to appeal to investors, entrepreneurs, students, and college graduates. Another advantage is that Green Visa holders can also use their permits to sponsor their parents and children till the latter reaches 25 years of age. In the case of cancellation, the new visa provides a grace period of 90 to 180 days, which is substantially greater than the existing 30-day term. Permits for business trips have also been extended from three to six months.
The Minister of State for Foreign Trade Thani Bin Ahmed Al Zeyoudi announced “the recent amendments in residency system would make the UAE distinguished with a system that is the first of its kind in the world. The UAE will be characterized by an integrated path featuring regular, green and golden residency visas.”
Another visa category that was revealed was the federal freelancers visa, which is for self-employed employees in specialised sectors such as artificial intelligence, blockchain, and digital currencies who are based in the UAE or abroad. In addition, the existing golden visa, which allows foreigners to live, work, and study in the UAE without the need for a national sponsor and with full ownership of their business for a ten-year period, will be extended to pioneers in business, science, engineering, health, and education.
As a result of the pandemic’s impact on the UAE’s tourist and hospitality sectors, the country is looking to lessen its dependency on oil. In an effort to stimulate the economy, the introduction of visas is in line with the UAE’s plans for the future, which is projected to see a surge in the number of entrepreneurs and innovative talents. By researching your destination and connecting with your peers, HLB HAMT gives the ideal platform for making the most of your business opportunities.
HLB HAMT, a prominent firm in the UAE, offers high-quality audit, advisory services, and business setup assistance. We guarantee to provide you with accurate and timely services due to our comprehensive knowledge of the emirates and years of experience in the industry.
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