On Sunday, the United Arab Emirates announced to roll-out new class of visas, called the ‘green visa’, which would allow expatriates to work in the country without having an employer sponsor them and grant them the ability to sponsor their parents and wards up to the age of 25 years.
The step is taken to attract talent in the oil-producing Gulf country, which is now preparing for a post-fossil fuel world, especially after the 2014 oil slump and reducing oil prices in recent years.
UAE Offers New Green Visas for Foreigners
Gulf countries have resisted giving permanent residency status to foreigners working in their countries and contributing majorly to their economies.
Over 80% of the total population of the UAE is made up of foreign residents who have been living and working in the country for a few decades.
With the Covid-19 pandemic impacting tourism and business in the UAE, along with the ongoing oil price slump in the past few years, Gulf countries are looking for opportunities to boost growth and attract talent from sources other than oil.
As a result, they are opening different avenues for expatriates to come to the Gulf and do business and contribute to their economies by providing them the ability to buy a piece of property and permanent residences.
On Sunday, the Middle East’s business and financial capital, UAE, announced a new line of visas, called the ‘Green Visa’. It would allow foreigners to work in the country without having a sponsoring employer.
Such visa holders can also sponsor their parents and children under the age of 26 into the country.
The country’s Minister of State for Foreign Trade, Thani al-Zeyoudi, said that the new visa would target highly skilled individuals, investors, business people, entrepreneurs, exceptional students and postgraduates.
UAE is increasingly working towards reducing its reliance on oil and preparing for a post-fossil-fuel future.
As per a media briefing on Sunday, UAE will work on economic partnerships with eight countries, including South Korea, Indonesia, Kenya, Ethiopia, and Turkey.
The UAE government has also announced to allow people who lost their jobs to remain in the UAE for up to 6 months, which is a significant boost as most visas are tied to employment contracts, states Bloomberg.