What is Golden Card Visa issued by UAE?

The United Arab Emirates recently approved the issuance of Golden Card Visa with several changes. The Visa is for ten years. The visa is being provided for professionals, physicians, engineers and PhD holders from certain universities.

About Golden Visa Card

The visa grants 10-year residency to the holders and their families as well. Apart from the professionals, the other eligible candidates to obtain the visa are persons with specialised degrees in Artificial Intelligence, Epidemiology and Big Data. Also, students who rank top in the country (both school and university level) are also eligible to obtain the visa.

Earlier Visa rules in UAE

UAE offered only renewable visas to the foreigners that are tied to their employment. Later in 2019, UAE provided with five- and ten-year renewable visas. However, it was restricted only to very few entrepreneurs, foreign investors, scientists, chief executives. This was introduced as the Gold Card scheme. Now this is being extended to the experts and top performers who are highly knowledgeable and are with good academic record.

Why are the changes being introduced?

UAE is badly hit by COVID-19 pandemic and low oil prices. Thus, the country is introducing Visa related changes to keep the talented minds inside the country and use their help in nation building.

Recent Developments in UAE

The above two developments conspicuously reveal that UAE is dreadfully opening its borders to boost trade and increase the economy of the country. The relaxation of Islamic laws eases life of foreigners in the UAE soil.

The Abraham Accord signed between Israel and UAE is more of a business deal than a peace agreement. All these recent reforms by UAE is to boost its economic growth.

Background

According to the International Monetary Fund, UAE will contract by 3.5% in 2020.

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