The UAE cabinet has announced new admission and residence criteria in order to reinforce the UAE’s status as an exceptional destination to live, work, and invest, according to Gulf News.
There have been several important changes to the Golden Residence Scheme. These adjustments make it easier to meet the qualifying requirements and broaden the beneficiary groups. Ten years of residency is offered to investors, entrepreneurs, scientists, great students, and first-line heroes.
A holder of a Golden Residency can sponsor their family members, and there is no time restriction on how long they can stay outside the country to keep their residence active.
After receiving a nomination from the Emirates Scientists Council, scientists with extraordinary achievements are eligible for Golden Residence, which comes with its own set of advantages.
The initiative is open to professionals from a number of professions who have valid job contracts in the UAE. However, the monthly compensation should not be less than 30,000 dirhams.
Applicants with remarkable talents, including students and graduates with any educational background, who have been recommended by federal or local government agencies are urged to apply.
The Golden Residence is available to entrepreneurs and real estate investors with annual revenues of AED1 million and AED2 million, respectively.
New five-year tracks with even greater incentives have also been introduced.
For qualified employees and freelancers, another programme called Green Residence is offered.
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