10 Years Residence Visa is Now Announced in the UAE
The UAE Cabinet has now recently announced on the approval of a long-term visa system. The main objective of this long-term visa system in the UAE is to make UAE an ideal place for investors to do their businesses.
Who will be able to avail this long-term visa in the UAE?
- Special Talents
- Outstanding Students
However, there are some criterias and conditions to be met to avail this long-term UAE visa.
How can investors get a long-term visa in the UAE?
Only two different types of Investors in the UAE will be able to take advantage of long-term visa in the UAE.
- Property Investors who are investing AED 5 Million and more will be granted residence visa for five good years.
- Investors who are investing through deposits, established businesses, business partnerships worth value of AED 10 Million or more or if the total investment of the investor is not less than AED 10 Million (no real estate investments) will be able to attain a long-term renewable residency visa every 10 years.
What are the conditions for investors to avail long-term visa in the UAE?
- The amount invested by the investor should not be an amount taken as a loan. It has to be fully owned by the investor.
- The amount invested by the investor should have supporting documents to prove that the amount invested by him is his own.
- Investment should be maintained for a minimum period of three years.
- Investors should have a standard financial liability with a financial solvency of not more than AED 10 Million.
- If a business partner contributes AED 10 Million than a long-term visa can also be given to them, their spouses, children, executive director and one advisor.
- The investors can enter the country for a period of six months with multiple entry to apply for long term visa.
How can entrepreneurs get a long-term visa in the UAE?
Entrepreneurs in the UAE will now be granted a long-term visa of five years. This visa can also be upgraded to investors visa if the criteria for Investors visa is met. Entrepreneurs who have had earlier projects of not less than AED 500,000/- and have approvals of qualified business in the UAE, they can be granted a long-term visa.
What are the benefits of an entrepreneurial visa?
The benefits of having an entrepreneurial visa in the UAE is that, it includes entrepreneurs, partners, three executive directors, spouse and children.
The entrepreneur is also allowed to enter the country for six months, multi-entry visa period, with renewal for another six months.
Who are special talents and how can they avail long term visa in the UAE?
Special talents are referred to researchers in the field of science and knowledge for doctors, specialists, scientists, inventors, creative individuals in culture and art. Special talents in the UAE can now be granted ten-year visa including for spouses and their children.
To avail this long-term visa, the special talents should have a valid employment contract and the conditions for each talent is mentioned below:
To be accredited by the Emirates Scientists Council
- Holders of the Mohammed Bin Rashid Medal for Scientific Excellence.
For Creative individuals in culture and art:
- Accredited by the Ministry of Culture and Knowledge Development
- Obtain a patent of value added to UAE’s economy with the approval of the Ministry of Economy
For Exceptional Talents:
- Individuals possessing exceptional talents that have been recognized by patents or scientific research published in world-class journals.
- Owners who are running internationally recognized companies.
- Holders of high academic achievement, professional experience and position
For doctors and specialists:
Any two conditions of the below email mentioned are to be met:
- Should be PhD degree holder from one of the top 500 universities in the world.
- Should hold an award or certificates of appreciation for the work in the applicant’s jurisdiction.
- Should have made specific contribution to a major scientific research related to the work of the applicant.
- Should have published articles or scientific books in distinguished publications in the field of work of the applicant.
- Should be a member in an organization related to the work of the applicant, which requires excellent work to accept membership.
- A PhD degree in addition to 10-year professional experience in the applicant’s field of work.
- Specialization in areas of priority to the UAE (additional requirement for the doctor).
How can outstanding students in the UAE get a long-term visa?
Students who have passed their grades with at least 95% in public secondary schools in public and private schools and with a distinction of at least 3.75 GPA when they are graduating from universities within and outside the country will be granted a long-term visa of five years. Even the families of the outstanding students will be benefitted for this scheme.
The decision taken by the Cabinet in providing long term visa in the UAE will now facilitate visas for outstanding students, investors, entrepreneurs, specialized talents, researchers which will also include their spouse and children. This new initiative will generate healthy business environment for the business investors, entrepreneurs, special talents and outstanding students maintaining UAE as the country with best business environment.
Source ~ Khaleej Times
Emirates Chartered Accountants Group provide services to Investors in the UAE to obtain their investor visa by providing executives, professionally dealing with PRO services who can effectively in line accomplish the procedures, rules and regulations. A professional is always necessary to guide you to a pathway of different phases that you would come across and coordinate to progress and finish all the procedures successfully with precision.
Emirates Chartered Accountants Group provides Company Formation Services in the Mainland, in the Free zone and Offshore as well of UAE. The Company Formation Services for investors will allow them to obtain a business license as well as Investor visa for the investor and their families.
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