The United Arab Emirates is keen to attract talent and distinguished students and students outside universities, as the UAE Cabinet announced the launch of an integrated system in order to bring in people with competencies and talents in all vital sectors in the country. This decision includes granting golden permanent residency in the Gulf to investors, people with competencies and distinguished people from the students.
Permanent residency for competencies and talents in the UAE
The new regulations approved by the Council of Ministers include granting investors permanent residency visas in the UAE for themselves and all their family members for up to ten years, with the relevant authorities directed to develop executive procedures for their implementation.
The ruling established that certain professions, including as doctors, engineers, scientists, inventors, and other specialists in technical sectors and scientific research, will be entitled to apply for a 10-year permanent residency visa in the UAE. His Highness Sheikh Mohammed bin Rashid Al Maktoum also asked the Ministry of Economy to conduct a full research in collaboration with the relevant stakeholders and submit it in the third quarter of this year.
Beneficiaries of the permanent residency decision in the UAE
The new decisions are consistent with the UAE's policy of diversifying the economic base and sources of national income, introducing structural reforms that lead to less reliance on oil, and increasing financial resources by stimulating non-oil economic sectors to increase their contribution to GDP.
The decision contributes to the prosperity of a number of industries, which will find a fertile environment to conduct business and invest their money in the UAE due to the country's important strategic location between East and West, which allows businessmen and investors to access the most important emerging global markets as well as various major business centres in Europe and Asia. The Pacific, Africa, and North America are the three continents.
Fees for permanent residency in the UAE
Investors and professionals in the permitted categories can apply for a 10-year visa issuance or renewal for AED 1,150 (AED 150 for the application form and AED 1,000 for the issuance). Family members of applicants are eligible for 10-year visas at the same price.
While the 5-year visa costs 650 UAE dirhams, the amount is split as follows: "150 dirhams for the application form and 500 dirhams for the issuance."
Residence permit fees for outstanding students in the UAE
- Residence permit fee: 1,100 dirhams.
- Additional fees: Knowledge dirham: 10 dirhams.
- Innovation fee: 10 dirhams.
- Fee within the country: 500 dirhams.
- Delivery fee: 20 dirhams.
It is worth noting that the fees for issuing residency for outstanding students in the United Arab Emirates increase by 100 dirhams for each year whenever the residency is more than two years.