The UAE government has announced the granting of green residency to three categories of foreigners, within the recently updated visa and residency permits system, who are the investor or partner in a commercial license, the highly skilled worker, and the self-employment, without a guarantor (employer) and without the need for a work contract, whether present Inside or outside the country, the duration of this residence is five years, renewable for a similar period or periods, according to the same conditions under which it was granted, and it will come into force next month.
Conditions for obtaining a green residence permit for self-employment for 5 years in the UAE:
First: Obtaining a free work permit from the Ministry of Human Resources and Emiratisation.
Second: The minimum educational level should be a bachelor's degree, a specialized diploma, or its equivalent.
Third: The applicant's annual income from self-employment for the previous two years should not be less than 360,000 dirhams, or its equivalent in foreign currencies, or prove his financial solvency throughout his stay in the country.
It also authorized the authority to grant a foreigner a residence permit to work without a guarantor (employer) in the country when he is a skilled worker, according to the professional classification and standards approved by the Ministry of Human Resources and Emiratisation. Must have a work permit in the country under a valid work contract in the country, and that he is a skilled worker at the first, second or third professional level of the classification of professions approved by the Ministry of Human Resources and Emiratisation, and that the minimum educational level is a bachelor’s degree or its equivalent, The monthly salary should not be less than 15,000 dirhams or its equivalent in foreign currencies.
The regulation also authorized the authority to grant the green residency to a foreigner coming to the country to reside as an investor or partner in a commercial project if three conditions are met, which is the authority’s approval of the investment in accordance with the investor classification system issued by a decision of the authority’s president, in coordination with the Ministry of Economy and the competent federal and local authorities In this regard, and proving the value of the investment or partnership in accordance with the percentages determined by a decision of the Chairman of the Authority, and “in the event that the foreigner is in more than one license, the total invested capital shall be determined to meet the prescribed percentage, the approval of the competent local authorities and the authorization of the applicant to practice the activity.” .
The executive regulations of the Law on Entry and Residence of Foreigners granted several privileges to holders of green residence, including that he may bring in his first-degree relatives, and the residence of family members is granted for the same period of residence as the guarantor (the head of the family), and in all cases, the validity period of residence of family members must not exceed the validity period of residence permit. guarantor.