Abu Dhabi: The UAE has announced a five-year green visa valid for foreigners. These visas will be granted a grace period (grade period) so that they can stay in the country for another six months even if the visa is canceled or expires. The new scheme aims to attract investors, entrepreneurs, skilled professionals and freelancers to the country.
Skilled workers can obtain a five-year visa without the need for a sponsor or employer. But applicants need a valid employment contract. Under the new scheme, self-employed and freelancers will be able to obtain non-sponsor visas for a period of five years. This requires a freelance or self-employment permit from the Ministry of Human Resources and Indigenization.
What are the eligibility criteria for a 5 year uae visa?
The following categories are entitled to apply for a 5-year residence visa in the UAE.
1.Investors in a property in the UAE
-Granting a visa is subject to the following conditions:
-The investor must invest in a property of a gross value of not less than AED 5 million.
-The amount invested in real estate must not be on loan basis.
-The property must be retained for at least three years.
-This category includes those having an existing project with a minimum capital of AED 500,000, or those who have the approval of an accredited business incubator in the country.
-The entrepreneur is allowed a multi-entry visa for six months, renewable for another six months. The long-term visa includes the spouse and children, a partner and three executives.
3. Outstanding Students
-outstanding students with a minimum grade of 95 per cent in public and private secondary schools
-university students within and outside the country having a distinction GPA of at least 3.75 upon graduation.
-Long-term visa includes families of the outstanding students.
The minimum educational qualification is a degree or specialized diploma. The annual income from the freelance sector for the last two years should be above AED 360,000.
Those arriving in the UAE to start business or become partners will receive a five-year visa. Earlier, those in these categories were issued two-year visas. Documents for investment in the country should be produced. If the investor has more than one license, the total capital will be calculated. Approval from the concerned authorities is also mandatory.