According to the Digital Government of the United Arab Emirates, investors who develop or engage in economic activities within the nation are eligible for a green residence visa. The paper outlines the prerequisites and application procedures for this visa.
It reported in her report that the previous investor's residence, which had a two-year period with simpler requirements and greater benefits, had been replaced with a green residence for an investor or partner in a commercial activity, which has been introduced without a guarantor and for a renewable period of five years.
Green residence visa for investors
The approval of the investment and documentation of the partnership's or investment's value are required for the green residence visa for investors. If the foreign national holds multiple licenses, the total invested capital is factored in to meet the required percentage. The license to conduct the activity is also required, as is the approval of the relevant local authorities.
Entry and residence of foreigners in the UAE
It is important to note that the executive regulations governing foreigners' entry and residency in the United Arab Emirates are notable for their variety of stay options and the addition of new ones to accommodate investors, entrepreneurs, talent, scientists, specialists, early learners, graduates, first responders, and skilled laborers in all fields. Additionally, these regulations lessen burdens, streamline procedures, add new benefits for residency holders, and keep residence and employer separate, all of which enhance the quality of life and make living, working, and investing in the UAE enjoyable and joyful experiences.
Residency for 5 years, renewable
The most well-known of these is the green residency, which is granted for a renewable 5-year period and includes greater benefits for bringing family members of residents in the country, as well as flexible grace periods up to 6 months after the expiration or cancellation of residency. The executive regulations also included an integrated system and a new generation of residency with great benefits and facilities aimed at attracting investors, entrepreneurs, high-level skilled labor, and self-employed individuals.
Three different types or stays
Three different kinds or residencies are included in the green residency program: the skilled worker residency, the self-employment residency, and the investor or partner in a commercial activity residency.