Kavan Choksi Calls the UAE’s New Golden Visa Regulations “a Game Changer”
Long-term visas for the UAE, such as the 10-year Golden Residence Visa and the
5-year Green Residence Visa, and long-term permits to enter and stay in the
country, have become widely available to residents and visitors. In addition,
last month, the UAE Cabinet, led by Sheikh Mohammed bin Rashid Al Maktoum,
Prime Minister, Vice President, and Ruler of Dubai, unveiled a comprehensive
set of administrative regulations aimed at retaining and attracting top talent
in the country.
While the new executive regulations broaden the eligibility criteria for
long-term visas, Kavan Choksi notes that they also expand the number of
individuals who can apply for extended–term access in various categories,
professions, and roles.
The advantages of long-term access extend to immediate family members. For
example, the holder of a Golden Visa or Green Residence visa can sponsor
children under the age of 25, an increase from the previous rule of 18 years,
with no age limit for unmarried daughters. In addition, children of determination,
regardless of age, are granted a residence permit.
"This is yet another proactive initiative by the UAE government that will
undoubtedly attract more foreign investment into the country," said
Lynnette Sacchetto, a real estate industry consultant based in the UAE.
"The new visa scheme for property investors, in particular, is quite
appealing, to say the least."
She added that these new regulations are a game-changer, as have been so many
recent initiatives, and will further cement the UAE's position as the region's
primary business and investment hub." It will also benefit the Dubai real
estate market, which has experienced record-breaking growth over the last year
and a half.
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