Those with the new “green visa” will be able to work without the sponsorship of the company (representative)
Dubai:
The UAE on Sunday announced a new visa that allows foreigners to work in the country without having been sponsored by an employer, loosening residency requirements in an attempt to boost economic growth.
Oil-rich foreigners in the UAE usually only receive limited visas related to their job and long-term residency is difficult to obtain.
But those with the new “green visa” will be able to work without the company’s sponsorship and can sponsor their parents and children up to the age of 25, officials said.
“It is aimed at highly skilled people, investors, entrepreneurs, business people, as well as exceptional students and postgraduates,” said Thani al-Zeyoudi, Minister of State for Foreign Trade.
Resource-rich Gulf countries, such as the United Arab Emirates, are increasingly seeking to diversify their economies and reduce dependence on oil.
The coronavirus pandemic has also affected tourism and businesses in the UAE, whose economy has already fallen in recent years due to low oil prices.
In 2019, the UAE launched the ten-year “golden visa” to attract wealthy people and highly skilled workers, the first such scheme in the gulf.
Since then, similar programs have been launched in other resource-rich Gulf countries, such as Saudi Arabia and Qatar.
In June 2019, Riyadh said it will offer permanent residence for 800,000 rials ($ 213,000) and a one-year renewable residence that will cost 100,000 rials, which will allow expats to do business and buy property without a Saudi sponsor.
Doha also opened its real estate market to foreigners, with a plan that gives those who buy homes or shops the right to long-term or permanent residence permits.
Foreigners make up 90% of the UAE’s 10 million population, the Arab world’s second largest economy after neighboring Saudi Arabia.
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