UAE offers 10-year residence visas for top professionals, investors and students
The United Arab Emirates Cabinet announced decisions on Sunday that included the provision of residency visas of up to 10 years for investors and professionals and their families in addition to grade ‘A’ students.
The Cabinet, chaired by Dubai Ruler Sheikh Mohammed bin Rashid, also approved the decision allowing international investors 100 percent foreign ownership of businesses in the UAE.
“Our open environment, tolerant values, infrastructure, and flexible legislation are the best plan to attract international investment and exceptional talents,” Sheikh Mohammad bin Rashid said.
“The UAE will remain the land of opportunity, the best environment for realising human dreams and unleashing their extraordinary potential,” Sheikh Mohammad added.
.@HHShkMohd chairs #UAE Cabinet meeting & announces decisions allowing 100% ownership of UAE-based enterprises for int’l investors, residency visas for up to 10 years for investors & professionals (doctors, engineers, etc.) and their families in addition to grade ‘A’ students. pic.twitter.com/KNLtHhPNdd— Dubai Media Office (@DXBMediaOffice) May 20, 2018
.@HHShkMohd orders concerned Gov’t entities to implement decisions before the end of 2018. His Highness also orders extension of residency for students sponsored by their parents after completion of their graduate studies to allow for ample time to decide on career paths. #UAE pic.twitter.com/9mZJCjiggW— Dubai Media Office (@DXBMediaOffice) May 20, 2018
.@HHShkMohd: The #UAE offers an open & tolerant living environment, deeply rooted values, and excellent infrastructure. Our flexible regulations attract int’l investments & exceptional talent… #UAE will always shine as the land of opportunities. pic.twitter.com/2HgwA8ZmHE— Dubai Media Office (@DXBMediaOffice) May 20, 2018
According to WAM, the official news agency of the UAE, the Cabinet announced the launch of an integrated visa system to attract talent in all vital sectors of the national economy.
It also announced changes in the system of foreign ownership of companies in the country, which allows the acquisition of 100 percent by global investors by the end of the year at its meeting at the Presidential Palace in Abu Dhabi.
The meeting was attended by Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior, Sheikh Mansour Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs.
Sheikh Mohammed bin Rashid Al Maktoum affirmed that the UAE will remain a global incubator for exceptional talents and a permanent destination for international investors.
The new regulations include raising the percentage of global investors’ ownership in companies to 100% by the end of the current year.
Sheikh Mohammed directed the Ministry of Economy in coordination with the concerned parties to implement the decision and follow up on its developments and submit a detailed study in the third quarter of this year.
10-year visas for family members
The new regulations approved by the Council of Ministers and the authorities concerned have also set the procedures for implementing them to grant investors residence visas of up to 10 years and for all members of their families, as well as granting residency visas of up to 10 years for specialized competencies in the medical, scientific, research and technical fields.
The new regulations also include visas for students studying in the country for five years and a 10-year residency for exceptional students.
The directives of the Council of Ministers also include a review of the residency system to extend the residence permits for students sponsored by their parents after completion of their graduate studies to allow for ample time to decide on career paths.