The property has to be registered with the relevant authority, and only approved apartments and villas can be listed for short-term rentals
life and living1 week ago
Dubai issued nearly 80,000 Golden Visas last year to skilled professionals, entrepreneurs and investors, an increase of 69 per cent over the previous year.
The General Directorate of Residency and Foreigners Affairs (GDRFA) in Dubai issued 32,467 more long-term residency visas in 2022 than in the previous year, taking the total to 79,617 in 2022, up from 47,150 in 2021.
The Golden Visa scheme, which was launched in 2019, was recently expanded to include more investor and professional categories. Currently, property investors, professionals, scientists, outstanding students and entrepreneurs can apply for a long-term visa.
The recruitment and HR executives have termed the long-term residency a game changer for the UAE economy and society as it will attract long-term residents, high-net-worth individuals and the best talent from around the world.
In November 2021, over 44,000 residents in Dubai had received long-term residency visas since the launch of the long-term residency scheme. GDRFA revealed in an annual report issued in November 2022 that more than 151,600 Golden visas were issued in Dubai between 2019 and 2022.
Of late, demand for long-term visas for skilled professionals has increased exponentially after the minimum monthly salary requirement was reduced from Dh50,000 to Dh30,000. Arabian Business Centre (Amer Centre – Sheikh Zayed Road) in Dubai recently told Khaleej Times that they were issuing up to 40 Golden Visas daily.
Transactions in 2022
The authority said it also processed 62.24 million transactions in 2022, including 46.96 million entry and exit transactions through the air, wild and sea ports, up from 37.38 million in the previous year.
This included 9.85 million visa transactions and 4.49 million residency transactions, 40,642 electronic passport transactions, and 37,267 legal consultations.
The GDRFA said it made significant improvements in terms of customer services last year, including merging five services into one, studying 60 customer experiences, and conducting periodic customer satisfaction surveys. It also hired several Emirati cadres, taking the total number of GDRFA’s experts and specialists to 124.
Additionally, the GDRFA succeeded 99 per cent in its operational plan, with the Customer Happiness Index crossing 96 per cent while the Partner Happiness Index hit 100 per cent.
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