The long-term UAE residency visas for expats are now offered in five select categories, which will allow them to reside in the UAE for up to 10 years.
The General Identity Directorate in Khalifa City of Abu Dhabi, Major-General Saeed Rakan Al Rashedi, who is the Director-General for Foreigners Affairs and Ports, said, “Today we announce the launch of new services in the field of residency, implementing the UAE Cabinet Decision No. 56 for the year 2018. It grants long-term stay in the country to investors, real estate investors, entrepreneurs, talented people like doctors, researchers, innovators and outstanding students.”
He also mentioned that the UAE leadership has made huge effort for the expansion and growth of the country, offer peaceful living for its residents and help people from various walks of life and professional backgrounds to get residency visas easily. The applicants in these five categories that includes outstanding students would be given a renewable residency visa and would be allowed to sponsor and get their spouses and children.
The advantages of the visa for the spouse and children is to make sure that the expats get a cohesive family environment and social structure and they get an invigorating environment for their growth.
These classifications include real estate investors who will be granted a five-year visa, other investors who can get a 10-year visa, and entrepreneurs and other talented professionals like doctors, scientists, researchers and innovators would be given a visa for 10 years.
The fifth category, which is that of outstanding students, would be given residency visas for five years. All these categories of visas are allowed to be renewed on expiry.
After they become eligible during their stay, expatriates are supposed to apply under the investors’ category.
These new measures are expected to attract highly skilled professionals, expats and investors coming from around the globe, and this in turn, would make the UAE as a hub for knowledge and international investment. This move targets to help the UAE in maintaining its optimal business environment by encouraging more and more company formation in Dubai.
Categories in new long-term visa
Investors – 10-year visa
Pre-conditions:
- Public investment has to be made through a deposit or a company (more than Dh10 million)
Non-real estate investments should be over 60 percent of total investments
- Investor should be holding the full ownership and not be on loan. Otherwise he has to prove that he reserves the investment rights for a minimum of three years.
- Assets should not be burdened by claims that damage the correctness of the financial value of Dh10 million
Advantages:
- This 10-year visa is renewable
- There is a possibility of having partners; however, there is a pre-condition that all the partners should be investing Dh10 million
- A 10-year visa also for the spouse and children
10-year visa for is given also to one executive director and one advisor
- A six-month entry visa along with permits for multiple travels
Real Estate Investors – Five-year Visa
Pre-conditions:
- The total investment in the sector of real estate should be over Dh5 million
- The investor should be holding the full ownership and not be on any Otherwise he needs to prove that he is reserving the rights of investments for at least three years.
- Financial assets should not be burdened by claims that weaken the correctness of the financial value.
Advantages:
- This five-year visa is renewable
- A five-year visa also for the spouse and children
- Five-year visa for is given also to one executive director and one advisor
- A six-month entry visa along with permits for multiple travels
Entrepreneurs – Five-year Visa
Pre-conditions:
- Possessing a project with a net value of over Dh500,000 along with accreditation certificates taken from the government
Advantages:
- A five-year visa that could be upgraded to investors visa
- A five-year visa for spouse and children
- A six-month entry visa along with permits that allow multiple travels. This could be extended for additional six months.
- A five-year visa is given to three executive directors.
Researchers, Scientists, Innovators and Doctors – 10-year Visa
Pre-conditions:
- Should have a valid work contract and possess a specialisation in the fields that are given priority in the country
Advantages:
- A 10-year visa, which can be renewed
- 10-year visa also given to spouse and children
Outstanding Students – Five-year Visa
Pre-conditions:
- The student should have scored at least 95 percent in his or her secondary school along with a distinction of 3.75 GPA when graduating from any university
Advantages:
- A five year visa, which can be renewed
- A five year visa for the family, which also can be renewed
So if you think you fit in any of these five categories and need professional advice on how to go forward or need PRO services in Dubai, do get in touch with us and we would be happy to assist you.
