Exec directors with bachelor's degree can apply for UAE's Gold Card
GDRFA Dubai's DG reportedly says executive directors that meet certain special talent criteria may apply for the visa
To date, 400 people have been granted the UAE's Gold Card permanent residency permits, and plans are in place to issue up to 6,800 of these new visas by the end of 2019, with executive directors holding bachelor's degrees also now eligible to apply for the Gold Card, it was reportedly confirmed by director-general of General Directorate of Residency and Foreigners Affairs (GDRFA) in Dubai, Maj Gen Mohamed Ahmed Al Marri.
The visa, which grants its holder permanent residency in the UAE, is expected to foster top engineering, scientific, and economic talent and generate foreign investment in the UAE.
Local daily Gulf News reported that Al Marri confirmed executive directors holding bachelor's degrees, as well as having five years' work experience in the UAE with a salary of $8,167 (AED30,000) per month, would also be able to apply for the Gold Card.
He reportedly explained: "If you are an investor [or special talent] and you have a Gold Card visa, you will never think that it will expire after one or two years, and this tension will be removed.
"It will give you the opportunity to go and think of other kinds of businesses to invest in, in the country that trusted you. And, of course, you will be paying back to the country while doing business."
Gulf News reported that the Gold Card visa would be valid even if holders left the country for longer than six months, which is the period within which a typical residency visa would expire.
The daily quoted executive director of Abu Dhabi GDRFA, Brig Gen Saeed Salem Balhas Al Shamsi, as saying: "The investor [or special talent] can come and go freely.
"There is no need to talk about six months or a specific time period outside the state."
According to a report by Construction Week's sister title Arabian Business, Al Marri said that the first batch of 6,800 investors would hold investments valued at $27bn (AED100bn).
The UAE Gold Card renews automatically every 10 years, with the condition that owners satisfy the terms and conditions of GDRFA, and are still employed in the same activity.