Dubai: The UAE has introduced a new minimum monthly salary requirement of AED 30,000 for professionals seeking the prestigious Golden Visa. This change, effective from 2024, aims to refine the country’s long-term residency programme by attracting top talent while reshaping the landscape for expatriates working in the Emirates.
New Criteria for Golden Visa Qualification
Previously, the Golden Visa was granted based on an applicant’s gross salary, which included various allowances such as housing, transportation, and other benefits. However, under the new policy, only the net salary—excluding any allowances—will be considered, and it must be at least AED 30,000 per month. This revision reflects the UAE’s commitment to drawing highly skilled professionals who can significantly contribute to the nation’s economic growth.
Nofisatu Mojidi, Senior Manager at Fragoman, a prominent immigration services firm in Dubai, commented, “This policy shift highlights the UAE’s focus on ensuring that Golden Visa holders demonstrate substantial financial stability, aligning with the country’s strategic goals to enhance its talent pool.”
Feroze Khan, Operations Manager at Arabian Business Center, also confirmed the updated salary criteria, noting that this move is consistent with the UAE’s broader objectives to attract the world’s most talented individuals.
Impact on the Expatriate Workforce
The Golden Visa programme, initially launched in 2022, was designed to attract exceptional talent from around the world, supporting the UAE’s ambitions for economic diversification and establishing itself as a global hub for innovation and excellence. However, the new salary threshold could limit eligibility for many existing expatriates who have been vital to the UAE’s economy but fall short of the new financial requirements.
While the updated policy is expected to draw a higher calibre of professionals, it also means that thousands of workers earning less than AED 30,000 per month will no longer qualify for long-term residency. Many of these individuals, who play essential roles in various sectors, may have to continue working under short-term visas.
The Future Direction of the UAE’s Golden Visa
The revised salary requirement underscores the UAE’s dedication to elevating its economic status by ensuring that long-term residents are among the most capable and financially stable professionals. As the Golden Visa programme evolves, it continues to be a crucial element of the UAE’s strategy to attract and retain global talent.
For professionals considering the UAE as a destination for career advancement and long-term residency, meeting this new salary benchmark will be key. The updated policy not only reinforces the UAE’s ambition to strengthen its economy with top-tier talent but also highlights the increasingly competitive environment that expatriates must navigate to secure their place in the Emirates.
