New Base Salary Requirement for Golden Visa: Experts Weigh In

According to a recent Khaleej Times report, immigration experts and rejected Golden Visa applicants in the UAE are highlighting new financial prerequisites. The Golden Visa, a long-term residency permit, now mandates a minimum monthly base salary of 30,000 AED. This figure excludes additional benefits like housing and transportation, which were previously part of the eligibility calculations. Given the rising cost of living in the UAE, especially skyrocketing property prices in dubai, these changes may present financial challenges for applicants.

Exclusion of Benefits from Minimum Salary Calculations

Noufissato Moujidi, Senior Manager at Dubai-based immigration consultancy Fragomen, explains, “The eligibility requirements for the UAE’s Golden Visa have changed. Previously, applicants under the ‘Scientists and Specialists’ category needed a gross salary of at least 30,000 AED per month, including benefits. Now, the requirement strictly applies to a 30,000 AED base salary without considering any additional allowances.“

New Restrictions for Qualified Professionals

This amendment does not appear to be applied to qualified professionals who would” have” fulfilled the previous threshold with allowance for the aggregate compensation package,” The visa changes were confirmed by an official customer service representative of the ICP and the yet-to-be-determined qualification requirements for Golden Visa status.

In the words of Firozkhan, Operations Manager at Arab Business Center in Dubai, “Some candidates like Managers, Directors, or any demanding other professionals from among engineering or medical fields with a basic pay of 30,000 AED can have reasonable chances of a long-term residency visa.”

Revised Golden Visa Eligibility for Select Professions

In 2022, UAE has formally included doctors, scientists, engineers, IT professionals, business managers, educators, lawyers, cultural workers, and social scientists. Their place includes the lion’s share of some of the higher-paid jobs in Dubai.

The new base salary requirement will drastically up the ante for such candidates, moujidi argues. “This shows the UAE is trying to attract high-skilled people with high incomes,” she explains. “However, that may create complications for existing approved applicants who have to go through additional processes for their final sanction. While existing Golden Visa holders might have to contend with these new conditions when they are about for issuance of renewal, there could equally develop an issue of their eligibility, too.”

Concerns About Meeting New Criteria

According to Majidi, there has been a significant increase in customer requests for these updates.

“Many clients are anxious about their ability to meet the new base salary requirement, particularly those who were previously eligible under the former benefits-inclusive criteria. In response, we’re guiding clients towards alternative pathways for securing the Golden Visa. For instance, in Dubai, we assist uniquely skilled individuals in securing government nominations.”

Additional Conditions for Golden Visa Applicants

In addition to the new minimum base salary, applicants must meet the following criteria:

• Contract of Engagement and Valid Work Permit: Applicants must present a current employment contract as well as a valid work permit.
• Occupational Level: According to the system of job classification by the Ministry of Labor, applicants must be classified into level 1 or 2.
• Other Requirements: A relevant bachelor’s degree or higher must be obtained as an educational requirement.
• Professional Licenses: Applicants must carry a valid professional license in either medicine, pharmacy, or teaching.
• Health Insurance: Also required is a complete health insurance coverage for the applicant and their family.

Conclusion

With new salary levels set higher, new and stringent conditions will apply qualifying for a Golden Visa in the UAE. Hence, many of the previous candidates will lose the opportunity to apply for this residency permit, while new candidates will continue to be piled on additional restrictions. Such changes are in place as the UAE seeks to replace lower-income, skilled professionals with higher-income, highly-skilled technology experts. However, this could lead to a drop in applications for Golden Visas, and that could play up against the skills/services talents require in certain sectors. Increasing the Golden Visa minimum salary towards the higher end signals a change in direction in the UAE’s immigration strategy towards building a knowledge economy by attracting these specific talents.