The next time your UAE residency visa is renewed, you will be able to choose from a wider range of options, provided, of course, that you meet the eligibility criteria.
The launch of the latest Talent Pass by Dubai Airport Free Zone, which entitles the holder to a three-year residency visa, has expanded existing offerings. The days were when our stay in the UAE depended solely on the work we did. It was either the good old corporate sponsored employment visa or if we were running a business, an investor visa.
Today the menu has so much more with each type of visa carrying unique characteristics to suit different categories of people in different scenarios. Residents can now choose from innovative independent visas, specialist talent visas, retirement visas, golden visas, remote working visas and, in the future, green visas – all intended to help them achieve greater stability in their lives.
Let’s take an example. A 60-year-old expat on a work visa is about to retire. His wife is still working and he wants to stay in the United Arab Emirates and start a consulting company. He owns a property valued at 5 million dirhams. As he seeks to change his residency status, the options available to him present a welcome problem of abundance.
By virtue of his investment, he can apply for the golden visa which would be valid for the next five years. He can also opt for the five-year retirement visa, which is granted to anyone who has invested 2 million Dh in a property, has financial savings of at least 1 million Dh or can prove an income. monthly of 20,000 Dhs. He is also eligible for a three-year visa under the new Talent Pass, given his free zone consultancy projects. And, of course, he can still get a family visa as a dependent of his wife.
The point is that his ability to exercise choice gives him a great sense of comfort and freedom. He can focus on the type of visa that best suits his needs after weighing the relative costs and benefits.
Many expats, who have lived and worked here for decades, call the UAE home. Having created phenomenal success stories for themselves, they have also become accustomed to the ease and high standard of living that the UAE offers.
The country’s exceptional law and order, multicultural ethos, and futuristic vision make it the perfect place for children to grow up, while remaining grounded in their values. Its hassle-free shopping environment and tax-free benefits remain huge assets. Just like its state-of-the-art infrastructure and impeccable services. Now add to this long list the exemplary way in which the UAE has approached COVID-19, making it the most resilient country in the world. On the contrary, it has strengthened the determination of many expatriates to stay in this haven of peace.
For example, a family of three traveled to their home country as part of a phased resettlement plan last year. But they returned immediately after a grueling experience amid the pandemic at home. They have since shelved their relocation plan and are seeking to apply for a golden visa. They say the mere thought that they can count on an ambulance to be on their doorstep and reach them in time at a decent hospital is enough to reassure them to stay.
An octogenarian I met recently went so far as to say that he owes his good health and longevity to this country. He came to Dubai as a young engineer in 1976. Over the next 46 years, he benefited from three types of residency visas – the regular company-sponsored employment visa which he renewed for 20 years, a renewable investor visa after becoming a partner. in a business after and now, the 10-year golden visa granted to him due to his net worth. He says he gave up his investor visa for the golden visa because of its long-term benefits and privileges.
The fact that the golden visa not only covers high net worth individuals but also professionals and creative talents is a blessing for those eligible in these categories, even though the UAE is giving a huge boost to the creative economy. Under the new scheme, exceptional students can also apply for a five-year student visa and also sponsor their families if they are able to support themselves. Why, even the one-year remote work visa is a great solution for those who want to have a foothold in two worlds – staying in the UAE and enjoying all the benefits, while maintaining their job abroad.
Where in the world would you have so many residency options with so many privileges to go with them? Like everything else in the UAE, it also reflects premium luxury.