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    Sunday, September 5, 2021

    UAE Relaxes Residency Requirements, Launches ‘Green Visa’

    The United Arab Emirates announced a new visa on Sunday, allowing foreigners to work domestically without employer support and relaxing residence requirements to boost economic growth.

    Foreigners in the United Arab Emirates, who are rich in oil, are generally given only limited employment-related visas, making it difficult to obtain long-term stays.

    However, officials said those with a new “green visa” could work without the support of the company and could sponsor parents and children up to the age of 25.

    “It is aimed at highly skilled individuals, investors, business people, entrepreneurs, and talented students and graduate students,” said Trade Minister Tani Al Zeyoudi.

    Resource-rich Gulf countries, such as the United Arab Emirates, are increasingly demanding to diversify their economies and reduce their dependence on oil.

    The coronavirus pandemic has also affected tourism and business in the United Arab Emirates. The UAE’s economy has already been sluggish in recent years due to low oil prices.

    In 2019, the UAE launched the first such scheme in the Gulf, a 10-year “golden visa” to attract wealthy individuals and highly skilled workers.

    Later, similar programs were launched in other resource-rich Gulf countries, such as Saudi Arabia and Qatar.

    Riyadh will allow expatriates to do business and purchase real estate without Saudi Arabia sponsorship in June 2019, with permanent residence of 800,000 riyals ($ 213,000) and a one-year renewable residence that costs 100,000 riyals. Announced that it will provide land.

    Doha also planned to open the real estate market to foreigners and give those who buy homes and stores the right to long-term or permanent residence.

    Foreigners make up 90% of the 10 million population in the United Arab Emirates. The United Arab Emirates is the second largest economy in the Arab world after neighboring Saudi Arabia.

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