UAE’s Golden Visa: A Closer Look at the Skilled Professional Category
If you’re eager to join the UAE’s Golden Visa program but don’t have the means to invest a hefty sum like Dh2 million in property, there’s an alternative path you might want to consider. The “skilled professional” category could be your way in, and according to James Swallow, Commercial Director at PRO Partner Group, applicants in this category generally experience a smoother processing journey.
The advantage here lies in the fact that skilled professionals usually have an existing Labor file with the UAE Ministry of Human Resources and Emiratisation (MoHRE). This information can be shared with immigration authorities, providing essential details about the applicant’s job title and salary.
Recent times have witnessed a notable surge in interest for Golden Visas under the professional category. Unlike the previous focus on property investments to secure a visa, there’s now a shift towards highly skilled individuals seeking long-term residency. This trend is complemented by various companies offering enticing incentives to both new and existing staff members.
The robust job market, especially in sectors like technology, digital services, retail, and hospitality, has played a crucial role in this shift. These industries are experiencing a rise in middle to senior management roles, and new business ventures are sprouting up regularly, all contributing to the growing demand for Golden Visas.
It’s clear that the appeal of the Golden Visa program remains potent, and there’s a belief that its full potential across eligible categories is far from being realized.
For skilled professionals, the required additional documents often include those that applicants would have access to from their previous visa applications, such as their Emirates ID and bank account details. Certain documents, such as a university degree attested by the Ministry of Education, UAE health insurance, salary certificate, and a valid work contract, are typically requested. The sole outstanding document is usually a letter of experience detailing a minimum of 5 years in the same job position.
The pre-approval processing for applications under the skilled professional category usually takes around a week. Following this, there’s a standard two-week turnaround for the visa and Emirates ID issuance after pre-approval completion.
On the other hand, the investment category entails different documentation requirements, as applicants are less likely to possess them. For instance, those aiming for real estate investments need to provide a letter from the relevant Emirate’s Land Department confirming property ownership and a value of at least Dh2 million. If the property was purchased on mortgage, statements and letters from local banks are necessary.
Investors are also advised to obtain a valuation if property prices have fluctuated, ensuring that the equity level surpasses the Dh2 million threshold.
Industry insiders are anticipating another surge in investor interest, both from overseas and resident individuals, starting from September through property acquisitions. Some investors may be waiting to gauge if property values stabilize in the upcoming weeks, particularly in emerging locations where off-plan buying activity has increased.
In general, pre-approval for the investor category of Golden Visas takes around two weeks, followed by the standard two-week processing time for the visa and Emirates ID issuance after pre-approval is completed, as stated by James Swallow.
- Long-term Residency: The Golden Visa grants recipients the right to reside in the UAE for an extended period, which eliminates the need to renew visas frequently.
- Business Opportunities: Golden Visa holders can start or invest in businesses in the UAE and benefit from the country’s growing economy.
- Education and Healthcare: The visa provides access to educational and healthcare facilities in the UAE, making it attractive for families looking for quality services.
- Ease of Travel: Golden Visa holders can enter and exit the UAE as often as they wish without the need for additional visas.
- Retirement Option: The program allows retirees to settle in the UAE and enjoy its lifestyle and amenities.
- Sponsor Dependents: Golden Visa holders can also sponsor their family members, including spouse, children, and domestic staff, for residency.
