The Council of Ministers, headed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved the new executive regulations that include new rules and controls and simplify and facilitate entry and residency procedures in the country for foreigners and those wishing to work, invest and live from all over the world.
The new executive regulation for the entry and residence of foreigners - scheduled to enter into force next September - included an integrated system and a new generation of residency with great advantages and facilities aimed at attracting investors, entrepreneurs, high-level skilled labor and self-employment, most notably the green residency granted for a period of 5 years, subject to renewal. It includes greater benefits for bringing in family members residing in the country, and flexible grace periods of up to 6 months after the expiry or cancellation of residency.
The green residency includes 3 types of categories or residencies: the green residency for the skilled worker, the green residency for self-employment, in addition to the green residency for the investor or partner in a commercial activity without a guarantor for a period of 5 years, renewable to replace the investor's previous residency, which is for two years, with simpler requirements and greater benefits.
A visa has been created to explore business opportunities and another to explore investment and business opportunities to attract investors without a guarantor or host within the country, in accordance with the conditions stipulated in the new executive regulations.