Gulf Today, Aug 2, 2022 | Muharram 4, 1444
UAE businesses start offering Golden Visa as perks for new recruits in key roles
Dubai: Over and above salary and bonus packages, some businesses in the UAE are offering 10-year Golden Visas as part of their recruitment for key positions or specific skills. This could soon extend to employers in other sectors too as demand for talent hots up and more employees seek extended residency options in the country.
The Dubai-based real estate portal Property Finder is definitely seeking early mover advantage by adding a new benefit for fresh intakes of software/data engineers and those coming into leadership roles. “The addition of newcomers into the ambit is aligned with our quest to be the company that continues to provide superior practices to our talent and works hand-in-hand with Dubai’s vision of making this geography attractive for talent,” said Anuradha Challu, Chief People Officer at Property Finder. “We seize every opportunity that encourages Dubai’s efforts in revolutionising talent pools as well as be a hub for digital innovation.”
According to consultancies that specialise in executive search, businesses in the healthcare and tech space too are offering such options to their latest recruits. These offers, it is felt, would help secure these personnel – many of them new to the country – for much longer stays than they might have been planning on. “It’s a win-win if these new highly skilled entrants to the local workplace start thinking beyond the 3- or 5-year residency,” said a consultant with one of the biggest recruitment agencies in the city. “The Golden Visa thus becomes a powerful incentive when their new employers start offering.”
In its original form, the 10-year residency was linked to specific investments – totalling Dh10 million and above. Recently, that entry level requirement was lowered to Dh2 million, and could come into effect from September in Dubai. Already, developers such as Samana have been offering Golden Visa as part of their latest offplan launches.
Last year, several companies offered Golden Visa status to long-serving employees, which is when it became a job-linked incentive to retain talent. Now, it is becoming the tool to attract talent. “We certainly hope to inspire more companies to invest in their talent and raise the bar on employee experience and total rewards overall,” said Anuradha. For those eligible, Property Finder will cover the fees for the Golden Visa processing.