The UAE Digital Government recently highlighted the introduction of a green residency visa tailored specifically for investors engaging in commercial activities within the country.
This initiative aims to streamline the process and enhance benefits for eligible candidates. Unlike its predecessor, which had a duration of two years, the green residency visa offers a longer validity period of five years, with the possibility of renewal.
To qualify for the green residency visa, investors must fulfill certain requirements. These include obtaining approval for their investment or partnership and providing evidence of its value. Additionally, if the applicant holds multiple licenses, the total invested capital is considered to meet the specified percentage. Approval from local authorities and a valid license to conduct the intended business activity are also prerequisites.
The UAE's executive regulations on entry and residence for foreigners exhibit a diverse range of residency options tailored to various investor profiles and professional backgrounds. These regulations aim to cater to investors, entrepreneurs, scholars, skilled workers, and humanitarian workers, among others. By simplifying procedures and introducing new benefits, such as separating residency from employment, the UAE seeks to enhance the overall quality of life for residents and investors alike.
The introduction of the green residency permit signifies a step forward in attracting and retaining top talent and investment. This permit, which spans five years and offers renewal opportunities, provides extensive benefits, including provisions for UAE family members and flexible grace periods of up to six months after the residency's expiration or cancellation.
Notably, the green residency visa encompasses three distinct categories: one for skilled workers, another for self-employed individuals, and a third for investors or partners in commercial activities. This comprehensive approach reflects the UAE's commitment to fostering an environment conducive to innovation, entrepreneurship, and sustainable economic growth.
