UAE clarifies four Requirements for Green Residency visa
To attract investors and entrepreneurs to the country, the UAE Digital Government recently introduced a novel initiative: the green residency visa.
This visa, valid for a generous five-year period with the possibility of renewal, replaces the previous two-year investor residency scheme. The updated program boasts streamlined requirements and enhanced benefits, making it an enticing prospect for potential applicants.
To qualify for the green residency visa, investors must meet several criteria outlined by the UAE authorities. These include obtaining approval for their investment endeavors, providing evidence of the investment or partnership's value, ensuring the total capital invested aligns with prescribed percentages if the applicant holds multiple licenses, securing approval from relevant local authorities, and obtaining a license to engage in the desired commercial activity.
What sets the UAE's visa regulations apart is their inclusivity and adaptability. The executive regulations governing entry and residency for foreigners in the UAE cater to a diverse range of individuals, including investors, entrepreneurs, skilled workers, scholars, talented students, graduates, humanitarians, defense personnel, and specialists across various fields. These regulations not only introduce new residency categories, but they also aim to alleviate bureaucratic burdens, simplify processes, introduce additional benefits for residency holders, and decouple residency status from employment, ultimately enhancing the overall quality of life for residents and investors alike.
Under the green residency umbrella, there are three distinct categories: one for skilled workers, another for self-employed individuals, and a third specifically tailored for investors or partners engaged in commercial activities. This comprehensive approach ensures that the UAE remains an attractive destination for a wide spectrum of professionals and investors seeking to live, work, and contribute to the vibrant economic landscape of the country.
