UAE Cabinet approves long-term visa system for certain expats

 
  • UAE Cabinet approves long-term visa system for certain expats


    The country always held the position as the main destination for global professional talents and international investors. The UAE Cabinet recently granted long-term visas to entrepreneurs, investors, specialists in the medical, scientific, research and technical fields as well as outstanding students. Visas also applies to spouses and children.
    The decision of the UAE Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, is aimed to attract talents in all vital sectors and maintain the UAE’s position as an optimal business environment in the national economy.
    The new long-term visa follows the government’s decision back in May, where it granted certain people and professions, including their spouses and children, residency visas of up to a 10-year residency.

    This, of course, comes with some conditions.

    Investors

    There are two categories:

    • Property valued at AED 5 million or more will be granted a five-year visa.
    • Investors who make public investments through a deposit, owners of an established company or a business partnership valued at AED 10 million or more, or not less than a total investment of that price in all the areas, will be granted a 10-year visa as long as non-real estate investments are not less than 60% of the total investment.

    The below conditions applies to both categories:

    • While proven by supporting documents, the amount invested shall not be loaned but wholly owned by the investor.
    • Investment retention for a minimum three years and a standard financial liability with financial solvency, not exceeding AED 10 million.
    • The new visa could be extended to add business partners – with the condition that they contribute AED 10 million -, children and spouse, in addition to one executive director and one advisor.
    • The decision allows investors to enter the UAE on a six-month multiple entry visa.

    Entrepreneurs

    • Having previous projects valued at AED 500,000 or approval from an accredited business incubator in the country will be provided with a five-year visa. This also includes a possibility of upgrading to an investor’s visa, unless they meet the requirements.
    • The entrepreneurial visa is not limited to only entrepreneurs but also partners, three executive directors, spouse and children. The entrepreneur is allowed to enter the UAE for six months, multi-entry visa period, with renewal for another six months.

    Specialized talents and researchers in the knowledge and science field

    Eligible candidates must have a valid employment contract in specialized fields of priority for the country.
    Here are some of the conditions for each category:

    • Holder of a PhD degree from one of the top 500 universities in the world.
    • Winners of the Mohammed bin Rashid Medal for Scientific Excellence.
    • Having contributed to a major scientific research and published articles or scientific books.
    • Accreditation from the Emirates Scientists Council and much more.

    Creative individuals in culture and art

    • Must be accredited by the Ministry of Culture and Knowledge Development Inventors.
    • With the approval of the Ministry of Economy Exceptional Talents, eligible applicants must obtain a patent or scientific research published in world-class journals that adds value to the country’s economy.

    Executives

    • They must be owners of leading, well-known and internationally recognized companies.
    • Holders of high academic achievement, professional experience, and position – with a rare speciality with a university degree.

    Outstanding secondary school students

    • Students are eligible for five-year family visas with a grade of at least 95% in public secondary schools in public and private schools could be eligible.
    • At least obtaining a 3.75 GPA upon graduation from universities locally and internationally with benefits including their families.



    1k


Subscribe to fäm Properties

Subscribe to fäm Properties

Get your weekly Newsletter from fäm properties about the latest news in the industry

Submit Button

Leave a Comment

Buttons

Featured Posts

  • The Real Cost of Owning a Property in Dubai


    33k
  • Mega-Projects: These 11 Man-made Islands In Dubai Will Surely Blow Your Mind


    15k
  • Verifying the authenticity of your title deed


    12k
  • Tenant’s Rights- Can a Landlord Increase Your Rent in Dubai?


    11k
  • Looking for A Successful Career in Dubai Real Estate? Join fam Properties


    11k