Why the UAE’s golden visa is a game-changer for skilled workers

The whole process cost about AED 6,000. However, it depends on the applicant’s major and education, Mr Lakhani said.

The breakdown includes AED 2,790 for residence fees, AED 1,070 for Emirates ID, AED 300 for medical examinations, and approximately AED 1,500 for verification of educational documents, cancellation of previous visas and other miscellaneous fees at the typing centre.

The nomination and visa process takes approximately two to three months.

“Once nominations are approved, visa applications and approvals are swift,” Mr Rahani said. “It takes about seven to ten days, including visa application, approval, medical treatment, cancellation of previous visa, golden visa stamping and issuance of a new Emirates ID.”

Employers in the UAE are increasingly looking at offering golden visas along with other incentives to attract top talent and retain existing staff.

According to recent media reports, real estate portal Property Finder is using the program to attract and retain software and data engineers.

The company will help them and other senior leaders obtain 10-year visas by providing support during the application process and paying the associated costs, the report said.

Recruitment activity in UAE has been bullish Technical department Since the onset of the Covid-19 pandemic, it has been driven by businesses accelerating digital initiatives and global tech companies expanding in the Middle East, recruitment experts say.

Employees in the tech industry in Dubai It is the third-highest-paid person in the global industry, according to a July survey by consulting firm Mercer.

Dubai-based software engineers with at least three years of experience earn 30% more than their peers in global tech hubs such as London, Amsterdam and Berlin.

A pickup in economic activity and business confidence also brought good news for the broader job market.

Zahra Clark, head of Tiger Recruitment’s Middle East and North Africa business, said: “We’ve been looking at the signing bonuses that a lot of companies are giving candidates.”

“This has been provided to the administrative assistant [EAs] All the way to C-level executives in finance, e-commerce and other industries [and] private property, [as well as] ultra high net worth [individuals] since March this year. For example, signing bonuses for EAs range from Dh35,000 to Dh70,000. “

Companies cannot always increase wages because large international organizations have wage caps. To address this, Ms Clark said, they offered a sizable joining bonus.

Other incentives offered across industries include the ability to work anywhere in the world for a month, greater corporate discounts, higher bonuses (depending on employee performance) and additional bonuses.

“Our relocation plans are down slightly compared to the past, but the company is providing cash to cover the gap,” Ms Clark said.

The e-commerce industry is hiring at a fast pace, she said.

Top companies to work for in the UAE, according to LinkedIn – in pictures

However, Ms Clarke said some large real estate companies were still fairly strict about their working models.

Bradley Maasdorp, a recruiting partner at AIQU Search, said tech companies have recently started offering golden visas to employees as a new benefit.

“Most often, we have stocks and stock options, and some fintech startups are now offering unlimited vacation as a benefit,” he said.

“With unlimited furloughs, employees can take as much furlough as they can in a year as long as the work is done and they have a solid handover.”

He said the UAE has historically had a strong start-up ecosystem in countries such as Africa, Eastern Europe and Lebanon, where there is a lot of tech talent recruitment.

Black & Gray HR chief executive Nevin Lewis said top executive compensation could include stock options, bonuses, perks and other non-monetary incentives.

He said variable pay was negotiated based on the value brought by potential applicants, business turnover and the risks involved in relocation.

Meanwhile, Sudanese entrepreneur and academic researcher Suha Graal, 36, was also granted a golden visa after nominating himself. She paid around Dh5,000 for the whole process.

She owns a company called Hudhud Technologies, a consulting firm for IT-based scientific research and software development, and also co-founded Cryptonaat, a company that covers cryptocurrencies, Web3, blockchain, and non-fungible Arabic digital information portal for tokens.

After getting her visa approved, she applied through the typing center.

“In addition to being allowed to live in the UAE for 10 years, I can now sponsor my family, including my spouse and children, regardless of their age, and sponsor support services such as maids, which will give me more time to focus for my work,” said Ms Graar, who was born and raised in the UAE.

“There is no limit to the maximum length of stay outside the UAE in order to keep the Golden Visa valid. This will be very useful if I am doing my PhD outside the UAE.”

Obtaining the Golden Visa also made it easy for Ms. Gral to work with multiple companies at the same time. Before that, she could only work at the academic institution that sponsored her visa.

“The application process is simple and quick,” she said. “You need to submit your qualifications and other administrative documents. The whole process takes less than two weeks.”

Updated: September 9, 2022 at 6:02 pm