How do UAE’s Green Visa and Golden Visa differ from each other?
In a recent article published in The Economic Times dated, Sep 16 2022, the writer shares insights on the similarities and distinctions between UAE’s Golden Visa and the new Green Visa. Here is the article below:
“The similarity between Green and Golden Visa:
Both visas will let the people in the UAE sponsor themselves without any employer, known as self- sponsorship. In comparison to the regular visas that offer 2 or 3 years of residencies to the people, Green Visa and Golden Visa will provide them with the option of residency for long term.
But their eligibility, duration, and benefits are not the same.
Details about Green Visa:
Duration: The Green Visa will last for five years.
Advantages:
-Residency for five years in the United Arab Emirates
-Self-sponsorship
-Does not sponsor first-degree relatives
-Allows a grace period of six months after the visa is expired or canceled
Eligibility criteria:
As per the UAE cabinet decision made in April 2022, you must meet three criteria to get a Green Visa:
-Green residence for self-employees or freelancers: The aspirant needs a permit for freelancing or self- employment from MOHRE or the Ministry of Human Resources and Emiratization. They should be at least a graduate in any discipline or complete a diploma. And lastly, they should have earned a minimum of Dh 360000 from freelancing or self-employment in the previous two years.
-Skilled employees will get green residence: The aspirants must possess a legitimate contract for employment. According to MOHRE, they should work in the 1st, 2nd, or 3rd level and be a graduate. Their salary can’t be less than Dh 15000.
-Partners and Investors will get a 5-year residence: Here, no sponsor is required to obtain the visa, and this type is most suitable for investors or partners in an agency or firm.
Details about Golden Visa:
Duration: The Golden Visa will last for ten years.
Advantages:
-You can sponsor any member of the family, like children, supporting staff, or spouse, and there is no limit to the sponsor amount.
-You can stay outside the United Arab Emirates for as long as you want.
-You can get an e-visa for six months, provided you complete the residence visa procedure.
-Any family member of the Golden visa holder can stay till the expiration of the visa within the UAE in case of the person’s death.
-A golden visa does not require any sponsor or employer.
Eligibility Criteria
–Investors: for both public and real estate investors Entrepreneurs – This is suitable for people owning registered start-ups, having a start-up idea, and existing start-ups sold within or outside the United Arab Emirates.
–Some remarkable talents in: innovations, investments, arts, culture, sports, and digital technologies.
–Professionals as well as scientists: This is applicable for people related to health, science, education, administration, business, information technology, culture, social and legal activities, CEOs, and senior executives.
–Graduates or students excelling in studies: For this, you have to be the best student in secondary school or graduate with the highest marks from any university in the UAE. This is also applicable to the students of the 100 best universities all over the world.
–People associated with the Humanitarian field: This applies to people related to regional and international agencies, public benefits, or who have got awards in such fields or work as a volunteer.
–Frontline workers: This applies to people who worked very hard during COVID-19.”
How can Consultycs help?
As a leading business consultancy firm in the UAE, we stay updated on new initiatives and processes that are issued in the nation. We will not only aid in making your visa processes easier, but also provide you with all the information you would require to help you make the right choices!
