Opening gates for international investors and professionals, UAE aims for 10-yr residency visa programme

Abu Dhabi, May 21: Welcoming investors and professionals with wide warm hands the United Arab Emirates have decided to extend the visa system to 10 years. The Cabinet on Monday announced that they would issue a long-term visa system for investors and exceptional talent to boost their position on the international platform.

The decision has been taken in line with the country position as a primary destination for international investors and global talents. The Cabinet meeting chaired by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, adopted the new system of entry visas at a high-level meeting.

 

"The UAE will remain a global incubator for exceptional talents and a permanent destination for international investors.

"Our open environment, tolerant values, infrastructure and flexible legislation are the best plan to attract global investment and exceptional talents," the Prime Minister said.

Ministry of Economy has been directed in coordination with the concerned parties to implement the resolution and follow up on its developments, and to submit a detailed study in the third quarter of this year.

The new system will increase the chances of attracting investors and competencies, increasing the country economic competitiveness globally, it said. The global investor’s ownership is expected to reach 100% by the end of the year.

The system will grant investors and talents up to 10-year residency visas for specialists in medical, scientific, research and technical fields, as well as for all scientists and innovators. Five-year residency visas will be for students studying in the UAE, and 10-year visas for exceptional students, it said.

The new decision will also review the current residency system to extend the residence time for the dependent students after completing their university studies. This will give them the opportunity to study their practical options in the future.