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UAE firms begin offering Golden Visa to retain talent, attract highly-skilled individuals

Company leaders say coveted 10-year residency applications should be made more flexible

Published: Thu 11 Aug 2022, 12:38 PM

Updated: Thu 11 Aug 2022, 11:33 PM

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Companies in the UAE are offering Golden Visas to retain existing talent and are also exploring the option of providing 10-year visas to new senior employees to attract the best talent in the market.

In addition to monetary benefits, this new perk is being added by companies to attract highly-skilled and talented individuals on a long-term basis.

“Earlier, the Golden Visa was focused on the high-net-worth individuals... companies are exploring the option of offering this as an added benefit for senior leadership talent. The trend is being led by key professionals in the technology and medical fields. This is positively being used for existing high potential talent in key positions, engaging new talent,” said Anjali Samuel, managing partner at Mindfield Resources, a senior talent acquisition and consulting firm in the Middle East and Africa region.

She said the move is well-received by client companies and candidates as well.

“This also increases the talent density in the country. The changes coming into effect in September will greatly benefit the UAE in attracting talent for the long haul,” Samuel added.

The UAE will roll out a number of new visas and entry permits next month as part of a massive overhaul of its residency reforms programme. A significantly expanded Golden Visa scheme, the new five-year Green residency, a multiple-entry tourist visa and job hunting entry permits are among the several residency reforms that will take effect next month.

The Golden Visa is also being offered to scientists, professionals, exceptionally-talented people, real estate investors, entrepreneurs and outstanding students and graduates.

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Property Finder has also introduced the Golden Visa programme as part of its Total Rewards Package to attract new engineering talent and retain existing ones.

“The visa programme supports our broader employer value proposition and will be applicable to all software/data engineers and senior leaders in the company; who also match the government-specified criteria. Additionally, this initiative also extends to the new employees who fall under the deemed criteria,” says Anuradha Challu, chief people officer at Property Finder.

She said it is very rare to find product engineers who are keen to pursue a career in real estate because some have doubts about their future and others are not capable to suit the company’s aspirations to drive the market further.

Ali Rao, group CEO, Elixir Group, says his company offers Golden Visa to those employees who are eligible, as well as to experienced chief executives, chief finance officers, general managers, and innovators. This also includes people who can manage the group’s businesses and contribute to its growth.

“The Golden Visa is a tool for talent retention. I believe the UAE government should make Golden Visa applications more flexible and also makes highly experienced managers eligible for the 10-year visa,” he said, adding that a 10-year residency visa gives peace of mind to investors and experienced professionals.

- waheedabbas@khaleejtimes.com



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