Foreigners in the United Arab Emirates, who are rich in oil,
are generally given only limited employment-related visas, making it difficult
to obtain long-term stays.
However, officials said those with a new “green visa” could
work without the support of the company and could sponsor parents and children
up to the age of 25.
“It is aimed at highly skilled individuals, investors,
business people, entrepreneurs, and talented students and graduate students,”
said Trade Minister Tani Al Zeyoudi.
Resource-rich Gulf countries, such as the United Arab
Emirates, are increasingly demanding to diversify their economies and reduce
their dependence on oil.
The coronavirus pandemic has also affected tourism and
business in the United Arab Emirates. The UAE’s economy has already been
sluggish in recent years due to low oil prices.
In 2019, the UAE launched the first such scheme in the Gulf,
a 10-year “golden visa” to attract wealthy individuals and highly skilled
workers.
Later, similar programs were launched in other resource-rich
Gulf countries, such as Saudi Arabia and Qatar.
Riyadh will allow expatriates to do business and purchase
real estate without Saudi Arabia sponsorship in June 2019, with permanent
residence of 800,000 riyals ($ 213,000) and a one-year renewable residence that
costs 100,000 riyals. Announced that it will provide land.
Doha also planned to open the real estate market to
foreigners and give those who buy homes and stores the right to long-term or
permanent residence.
Foreigners make up 90% of the 10 million population in the
United Arab Emirates. The United Arab Emirates is the second largest economy in
the Arab world after neighboring Saudi Arabia.