UAE recently announced a restructuring of its entry and residency visa scheme which includes a five—year residency, job visa, and substantial amendments to its golden visa.  Let’s discuss the categories which will benefit from the recent visa changes in Dubai.

1. Real Estate investors

Investors can obtain Golden Visa when buying a property in Dubai and other emirates that is worth no less than AED 2 million. As per the new changes, investors are also entitled to obtain a long-term visa when buying a property with a mortgage from specific local banks.  Real estate investors can also get the residency when purchasing one or more off-plan properties worth AED 2 million or more from registered local real estate companies. 

This long-term, 10-year visa allows you to stay outside the UAE without affecting your residency and even sponsor family members including spouses and children regardless of their age.  You can sponsor an unlimited number of support staff as well (e.g. domestic help).

2. Entrepreneurs

For entrepreneurs, the executive regulations set flexible requirements for Golden Visa eligibility.  In order to obtain this visa, the entrepreneur should own or be a partner in a start-up, small or medium enterprise in the UAE and must generate annual revenues of not less than AED 1 million.

You may also obtain the Golden Visa in this category, including approval for a start-up idea from the Ministry of Economy’s relevant authorities or the competent local authorities.

3. Longer grace period after residency expiry

With the new changes, residents can now avail of longer, flexible grace periods allowing them to stay in the country for up to six months after the cancellation or expiry of their residency permit.   However, it is not yet clear if this applies to all visa types.

 

     4. Green Visa

UAE’s new visa type allows a 5-year residency for skilled professionals, freelancers, investors and entrepreneurs.

 

   5. New types of visit visas

All entry visas are available for single or multiple entries and can be renewed for a similar period.  They are valid for 60 days from their issuance date.  New visit visa categories include job seekers coming to the country to explore business options, visiting friends and relatives in the UAE, and studying.  

 

A multi-entry five-year tourist visa does not require a sponsor and allows the person to stay in the country for up to 90 days per visit.  You may extend the visa, provided that the entire period of stay does not exceed 180 days in one year.

 

6. Family sponsorship visa changes

UAE residents can sponsor their children as follows.  Sons can benefit from a family sponsorship visa until the age of 25 (previously 18).  However, there are no age limitations for daughters provided they’re unmarried.  Another exception is children of determination who are granted sponsorship, regardless of their age.

If you are thinking of buying a property in Dubai, get in touch with us on +971 4 518 7555.  Our property consultants will be happy to explain everything about the latest visa changes in Dubai and how you can benefit from it as an investor.