Free residency in the Emirates is one of the various residency systems in the Emirates that aims to attract business owners and develop their projects by creating a suitable environment for work and investment within the country.
These residencies aim to increase the volume of investments and raise the level of economic relations, and you can get a closer look at free residency in the Emirates through this simplified guide that we have prepared for you, which includes some of the most important information and details that you may need to know.
Definition of free residency in the Emirates
Free residency aims to attract new categories of businessmen and talented people while ensuring a suitable environment for investment and work in the country, which enhances the attractiveness of the UAE as a pivotal destination for trade and economics.
Free residency in the Emirates is considered the first of its kind in the Arabian Gulf, and it is designated for various foreigners residing in the United Arab State and wishing to settle there, especially those distinguished by self-employment, known as “freelancer”, and the duration of this residency extends for 6 months instead of 3 months.
What are the requirements for obtaining free residency in the UAE?
Those wishing to obtain a permit to practice self-employment or private work must obtain a bachelor’s degree or specialized diploma, or its equivalent as a minimum educational level, from the Ministry of Human Resources and Emiratisation and their annual income from self-employment for the previous two years must be no less than 360,000 dirhams, or the equivalent in foreign currencies, or they must provide evidence of their financial ability throughout their stay in the country.
Among the major updates in the entry and residence system for foreigners is the addition of new categories in the field of self-residence; Including highly skilled people, investors, entrepreneurs, outstanding students, and graduates with distinctive potential, as the independent work permit that enables independent workers in new areas of the economy has been added; Such as artificial intelligence, blockchain, future technology, and digital currencies to benefit from it, whether they are inside or outside the country and to promote development in these areas of importance.
Who are the beneficiaries of the free residency system in the Emirates?
Any self-employed entrepreneur can benefit from this residency if he meets the required requirements.
Here we have reached the conclusion of our article in which we talked about free residency in the Emirates, who are the beneficiaries of it, and what are the requirements for obtaining it.
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