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| Maj Gen Saeed Rakan Al Rashedi (left) briefs the media |
The long-term residency visas for expatriates from five select categories has come into force, permitting them to stay in the UAE for up to 10 years, a top official of the Federal Authority for Identity and Citizenship announced in the capital 2nd May 2019.
Announcing details at a media briefing at the General Identity Directorate in Khalifa City of Abu Dhabi, Major-General Saeed Rakan Al Rashedi, 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.”
“The UAE leadership makes all-out efforts for the development of the country, provides a peaceful living for all and facilitates residency visas to residents and expatriates from different walks of life and professional backgrounds who wish to stay in the country,” he said.
Applicants under all these five categories — including outstanding students — will be granted a renewable residency visa and will be permitted to sponsor their spouses and children.
The visa benefits for the spouse and children is to ensure a cohesive family and social structure and to create a stimulating environment for stability and growth, officials said.
These categories include general investors who will be granted a 10-year visa, real estate investors, who can get a visa for five years, along with entrepreneurs and talented professionals such as doctors, researchers and innovators 10 years.
The fifth category — outstanding students — will also be permitted residency visas for five years. All categories of visas can be renewed upon expiry.
Expats can apply under investors category, once they qualify during their stay.
Maj Gen Al Rashedi said the measures will attract highly skilled expats and investors from around the world to make the UAE a centre for knowledge and global investment. The decision aims to maintain the position of the UAE as an optimal business environment.
New long-term visa categories
Investors - 10 Year Visa
Conditions:
- Public investment via deposit or company (not less than Dh10 million)
- Non-real estate investments shouldn’t be less than 60 per cent of total investments
- An investor should hold full ownership – not loan. Or he can prove that he reserves rights of investments for three years as a minimum.
- The asset should not be encumbered by claims that impair the appropriateness of the financial value of Dh10 million
Benefits:
- 10-year visa is renewable
- Possibilities of having partnered with a condition that each partner should invest Dh10 million
- Visa for spouse and children for 10 years
- 10-year visa for one executive director and one advisor
- Six-month validity entry visa with permits for multiple travels
Real Estate Investors - 5 Year Visa
Conditions:
- Total investment in real estate should not be less than Dh5 million
- An investor should hold full ownership – not loan. Or he can prove that he reserves rights of investments for three years as a minimum
- The financial asset should not be encumbered by claims that impair the appropriateness of the financial value
Benefits:
- Five-year renewable residency visa
- Five-year visa for spouse and children
- Five-year visa for one executive director and one advisor
- Six-month validity entry visa with permits for multiple travels
Entrepreneurs - 5 Year Visa
Conditions:
- Owning a project with a value of not less than Dh500,000 with accreditation certificates from the government
- Benefits:
- Five-year visa, which can be upgraded to investors visa
- Five-year visa for spouse and children
- Six-month validity entry visa with permits for multiple travels. This also can be extended for another six months
- Five-year visa for three executive directors.
Researchers/ Scientists, Doctors, Innovators - 10 Year Visa
Conditions:
Existence of a valid work contract and with specialisation in fields that are prioritised in the country
Benefits:
- 10-year renewable visa
- 10-year visa for spouse and children
Outstanding Students - 5 Year Visa
Conditions:
The student should have at least 95 per cent in secondary school with a distinction of 3.75 GPA upon graduation from any university
Benefits:
- Five-year renewable visa
- Five-year renewable visa for his family
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