This is being done to attract and retain talented people in the country.
UAE Govt changed the Golden Visa scheme approved by Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai, on Monday.
The new entry and residence program offers 10 types of entry visas with simplified requirements and more benefits. The new visas do not require a host or sponsor and offer more flexibility, multiple entry, 60-day validity, and a unified platform for online application.
Real estate investors can obtain Golden Residence when purchasing a property worth no less than Dh2 million ($540,000).
More benefits are being offered, which include:
- 10 years renewable residence
- Duration of stay outside the UAE does not nullify the visa
- No maximum number of support service labourers
- Entry visa valid for 6 months with multiple entries to proceed with residence issuance
- No sponsor or employer required
- Residence for family members including spouse and children with no age limit
- In the event of the death of the original holder of the Golden Residence, family members can stay in the UAE till the end of their residence permit
