The United Arab Emirates (UAE) has announced at least 10-year residency visas for expatriates and will be accepting applications from 3 February.
In a bid to attract investors, entrepreneurs, researchers, and outstanding students, the UAE cabinet approved a resolution in November 2018 for a new long-term visa system.
Following is the criteria outlined for the candidates.
UAE Long Term Visa Application Guidelines
Image Courtesy: Gulf News
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Investors
- Families of investors, including spouse and children, can apply for the visas.
- A minimum investment of AED 10 Million in UAE is a must
A minimum amount of AED 5 million must be done by property investors - It is mandatory for the investor and his/her dependents to have health insurance
- 10-year visa will be granted for investors while property investors can avail a visa up to 5 years.
- Investors are eligible to request the ICA to issue a 10-year visa for either an Executive Manager or a Consultant (and their families) working for the company under the investor’s ownership.
Entrepreneurs
- Families of entrepreneurs, including spouse and children, can apply for the visas.
- A 5-year visa will be granted for Entrepreneurs
- They can also sponsor one domestic helper.
- Approval must be obtained of an accredited UAE business incubator or own a previously successful business worth a minimum of AED half million.
- Entrepreneurs are eligible to request the ICA to issue a 5-year visa for three Executive Directors working for the company under the entrepreneur’s ownership.
- Entrepreneurs will be issued a multi-entry visa with a validity of six months to facilitate the procedures of completing their business in the UAE.
Talents
- The eligible categories in Talents include doctors, scientists, executives and specialists in the educational disciplines. However, a specific set of conditions needs to be fulfilled by each of these categories for qualification.
- Families of candidates in these categories, including spouse and children, will be eligible for the visas.
- They can also sponsor one domestic helper.
- They will be granted a 10-year visa.
- A minimum bachelor’s degree, minimum professional experience of five years, a minimum salary of AED 30K, a valid employment contract in the UAE and health insurance is a must for executives to avail this visa.
- Candidates in this category will be issued a multi-entry visa with a validity of six months to facilitate the procedures of completing their business in the UAE.
Source: Arabian Business
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