Resident Visas In UAE: Full Guide For Migrants And Expats

The United Arab Emirates (UAE) steadily attracts a huge number of migrants from all over the world. According to statistics for 2023, more than 8 million foreigners live here. This constitutes approximately 90% of the entire population of the country! Such an amazing mass of people coming here is mainly explained by the dynamic development of the labor market, which always needs working hands, and the extremely high standard of living that the state offers. Learn more about opportunities for life insurance in UAE.

Types of resident visas in UAE and their characteristics

Document allowing legal living and working in UAE — this is an integral part of each expat. Visa system of the country offers various options, including work visas, investment visas, and family visas. The choice of visa type determines not only the possibility of legal residence but also access to various personal and financial advantages.

Work visas: basis of life and work in UAE

• Work visas are issued based on an employment contract with a company registered in the UAE. In 2023, according to statistical data, more than 70% of expats in the country had exactly this type of visa, which emphasizes its significance.
• The necessity of sponsorship by the employer complicates the process, but ensures reliable employment.
• Duration of the visa completely depends on the contract: typical terms vary from 1 to 3 years, with the possibility of extension.

Investment visas: path to long-term residence

• Investment visas are provided to individuals investing in the economy of the UAE. According to data for 2022, the minimum investment required to obtain such a visa was about 1 million dirhams.
• This type of visa offers residence for a longer term, usually from 5 to 10 years and is called Golden Visa with Investment
  ,which makes it popular among investors.

Family visas: opportunity to bring relatives

• Family visas allow UAE residents to bring their close relatives. In 2023, there were registered more than 300 thousand holders of such visas.
• Dependency on the visa status of the sponsor makes this type of visa sensitive to any changes in their financial situation.

Life insurance and visa status: how are they interconnected?

Visa status in the UAE has a significant impact on the availability and conditions of life insurance, which is especially important for long-term planning of life in the country.

Analysis of insurance conditions for different visas

Work visas

• Availability of insurance can be limited for holders of short-term employment contracts.
• Some insurance companies may require additional documents, such as confirmation of stable income.

Investment visas

• Thanks to financial independence and stability, holders ofinvestmentsvisas can count on a reduced insurance premium.
• Expanded coverage and preferential conditions make this category of clients especially attractive to insurance companies.

Family visas

• Insurance conditions directly depend on the sponsor’s status: their field of activity, stability, and income are critically important.
• In the presence of a stable financial background of the sponsor, insurance conditions can be very favorable.

What difficulties may arise in obtaining insurance payouts?

The process of insurance payments also heavily depends on visa status and often is a source of complexity.

Work visas

• Upon termination of the employment contract before the insurance case, additional documents may be required to confirm the legal status.

Investment visas

• Stable status facilitates the process, making it faster and more predictable.

Family visas

• Payments depend on the continuation of the legal status of the sponsor and their employment.

Real cases: what happens in practice?

1. Example 1: Ivan, holder of a work visa, faced problems with insurance payout after the end of the contract. The complicated procedure required additional documents, which prolonged the receipt of compensation for several months.
2. Example 2: Olga, owner of an investment visa, successfully and quickly received a payout thanks to a stable financial position. Her long-term plans to stay in UAE played an important role in this process.

Tips for migrants and residents

When choosing an insurance product, consider the type of your visa and its possible impact. To holders of work visas, insurance with flexible conditions is suitable. Investors should focus on maximum coverage. For family visas, it is important to study the financial stability of the sponsor.

Understanding the features of visa status allows not only to choose suitable insurance but also to ensure financial security for a long time. A qualified approach to this issue can significantly increase the comfort of living and confidence in the future in this hospitable country.