approved the issuance of a 10-year golden visa for more professionals, including PhD holders, physicians, engineers as well as graduates from certain universities, in a bid to keep the talented people and great minds in the Gulf country and help in nation-building. This is a long-term residency programme that was first announced in 2019. Vice President, Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum made the major announcement in a series of tweets.
Initially, the visa was made available to foreigners who deposited at least AED10 million in a UAE-based investment fund, owned at least AED 10 million in shares of a local company, and entrepreneurs whose ventures were in a “certified field” and was valued at a minimum of AED 500,000.
The visa was also open to executives who received a minimum monthly remuneration of AED 30,000, as well as outstanding scientists and students.
Now, the UAE government is extending the welcome under the golden visa to all doctors, computer engineers, and a wide range of scientists as well, no longer requiring the highly skilled to be “exceptional”.
Though the program expansion was announced yesterday, it will not take effect until December.
This is the first batch, and it will be followed by other categories. We want talented people and great minds to stay in the UAE and join us in the process of development and achievements, Sheikh Mohammed tweeted.
The UAE is not alone in its region in offering long-term visas to skilled professionals. Last year, Saudi Arabia also introduced a “golden visa”, starting at €187,000 for permanent residency and with one-year renewable residencies are available from €23,000. A similar but more limited scheme also exists in Qatar.