NEW 10 year visas to be Implemented in UAE
They will be available for investors, doctors, specialists and top students…
Select residents will now be eligible for ten-year visas, following a decision made during a Cabinet meeting on May 2018.
A major change was announced in a Cabinet meeting, led by H.H Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and ruler of Dubai, which states that certain residents will now be able to make the country a long-term home, officially with a ten year visa.
The longer visa will be available to specialists in scientific, medical, research and technical fields and their families, as well as for all scientists and innovators.
Students studying in the UAE will also be granted a five-year residency visa by the new system, with ten-year visas available for exceptional students.
Implementation of the new UAE visa system is expected to be completed before the end of 2018.
The Cabinet issued instructions to government departments to ensure the implementation of the resolution is completed by the end of the year, and to submit a detailed study in the third quarter of 2018.
The new visa system will help to increase the chances of attracting investors and competencies to the UAE and thus, boost the country’s economic competitiveness globally.
It’s not just the visa system that is being altered, either. The Dubai ruler also announced in the Cabinet meeting that international investors will be able to own 100{af436588ed095e4dac1544480ae3268fb7b129caf562856e492bdedd09e8556e} of their UAE-based company under new policies. Currently, companies outside of free zones (which already offer 100{af436588ed095e4dac1544480ae3268fb7b129caf562856e492bdedd09e8556e} ownership) are required to have a local (a.k.a. Emirati) partner that owns 51 per cent of the business.
“The UAE has always welcomed, and always will, innovators and business leaders,” shared H.H. Sheikh Mohammad on Twitter.
“Our open society, tolerant values, excellent infrastructure and flexible legislation offer the best environment for international investment and exceptional talent.”
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