In April 2022, the UAE Cabinet, headed by Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister and Ruler of Dubai, has rolled out flexible requirements for investors and entrepreneurs including the startup owners to apply for the UAE Golden Visa and Green Residency Visa under a new set of executive regulations. This is considered to be the most extensive set of reforms which will come into effect in September.
The startups in the UAE can now obtain the UAE Golden Residence visa, a long-term 10-year UAE residency visa more easily under the revised visa regulations.
The new Green Residence permits will allow the investors, partners, freelancers and self-employed individuals engaged in establishing or participating in commercial activities five years of residency in the country. It replaces the earlier residence permits that were valid for 2 years only.
The new system of entry and residence in the UAE will attract and retain global talents and a skilled workforce across the world and will make the local job market more flexible and competitive.
The new visa rules will enable the startups and SMEs to more conveniently hire foreign professionals and provide incentives for the investing communities to relocate to Dubai UAE due to the availability of talent pools. Professional Dubai Pro services can help startups and SMEs identify the most suitable and affordable ex-pats and recruit them for their organizations.
The new simplified visa rules will automatically boost the country’s investment segment increasing the likelihood of easy financing for the country’s startup ecosystem. Startups and SMEs can benefit significantly if they opt for outsourcing PRO Services in Dubai for facilitating fundraising activities.
Many small technology startups who can’t afford full-time professionals and are heavily dependent on freelancers, can now take a deep sigh of relief as the new visa rules will attract many such freelancers into the country. UAE is all set to witness an influx of technology professionals who can help realize the nation’s ambitious vision for the digital economy and new age of innovative and smart technologies such as AI, ML, IoT, AR, Big Data and many more.
Many startups and tech industry experts believe that the reforms will make Dubai and the other emirates more attractive to the short as well as long-term residents and professionals.
Many industry leaders confirmed that the new immigration system will act as an incentive to launch businesses in the UAE making significant and valuable contributions not only in the Emirates but the wider Middle East as well. The new rules will underscore Dubai’s growing role as the key catalyst in attracting businesses both in the region and globally.
The newly introduced job exploration entry visa doesn’t need a sponsor and addresses the long-existing issues of people coming to the UAE on tourist visas searching for jobs. This visa makes it legitimate for jobseekers to attend interviews and search for employment in the country without needing 30 or 90-day tourist visas to look for a job and subsequently shift to an employment visa after getting a job. The people, however, must meet certain skill sets outlined by the Ministry of Human Resources and Emiratisation. This will provide a huge stimulus to both startups and the job market in the UAE.
People from around the globe who are planning to visit the UAE either for business, jobs, or pleasure can now avail themselves of a variety of visa options without needing a host or sponsor for the first time. All entry visas, under this new system, are available for single or multiple-entry and can be renewed for similar periods with a validity of 60 days from their issuance date.
