Comprehensive long-term visa system to be introduced in UAE

Abu Dhabi / WAM

The UAE Cabinet approved long-term visa system for investors, entrepreneurs, specialised talents and researchers in the fields of science, knowledge and outstanding students to facilitate business and create an attractive and encouraging investment environment for the growth of business for investors, entrepreneurs and professional talents.
The decision of the Cabinet follows the previous decision approved earlier this year to grant investors ten-year residency visa, as well as to grant residency visas of up to 10 years for specialised specialists in the medical, scientific, research and technical fields, and for scientists and creative talents of culture and arts, including their spouses and children. The decision aims to maintain the position of the UAE as an optimal business environment.
The decision includes the terms and conditions for obtaining long-term visas for investors, entrepreneurs, specialized talents, researchers in the fields of science and knowledge, and outstanding students to attract talents in all vital sectors of the national economy. The visa benefits also include the spouse and the children to ensure a cohesive family and social structure and to create a stimulating environment for stability and growth.

Investors
The decision includes the provisions to grant investors from UAE and broad a long-term visa. It defines two categories for investors: Investors in a property of a value of AED 5 million or more will be granted a residence for five years, and investors in public investments through a deposit, an established company, business partnership of AED 10 million or more, or a total
investment of not less than AED 10 million in all areas mentioned as long as non-real estate investments are not less than 60% of the total investment,
will be granted a renewable residency visa every 10 years.
The Cabinet decision outlines the following conditions for both categories:
The amount invested shall be wholly owned by the investor and not loaned, and should be proven by supporting documents
Investment retention for at least 3 years
A standard financial liability with a financial solvency not
exceeding AED 10 million
The long-term visa could also be extended to include business partners, provided that each partner contributes AED10 million, the spouse and the children, as well as one executive director and one advisor. The decision allows investors to enter the country for a six-month period, multiple entry, to apply for the long-term visa requirements.

Entrepreneurs
The decision also includes the terms to grant long-term visa to two categories of entrepreneurs; having a previous project with a minimum of AED 500,000, or having the approval of an accredited business incubator in the country. Entrepreneurs will be granted a 5-year visa with a possibility for upgrading to an investor’s visa provided they meet the
requirements.
The benefits of the entrepreneurial visa include entrepreneurs, partners, three executive directors, spouse and children. The entrepreneur is allowed entry into the country for six months, multi-entry visa period, with renewal for another six months.

Specialised talents
and researchers in
the fields of science and knowledge
The decision also includes provisions for granting a 10-year visa for specialized talents and researchers in the fields of science and knowledge for doctors, specialists, scientists,
inventors. As well as creative individuals in the field of
culture and art.
The visa’s advantages include the spouse and the children. All categories are required to have a valid employment contract in a specialized in fields of priority for the UAE, and the conditions for each category are defined as follows:
Scientists
To be accredited by the Emirates Scientists Council.
Holders of the Mohammed bin Rashid Medal for Scientific Excellence.

Creative individuals in culture and art
Accredited by the Ministry of Culture and Knowledge
Development

Inventors
Obtain a patent of value added to UAE’s economy with the approval of the Ministry of Economy

Exceptional Talents
Those who have exceptional talents that are documented by patents or scientific research published in world-class journals.

Executives
Owners of leading, well-known and internationally recognised companies
Holders of high academic achievement, professional experience, and position (eg, an engineer in a rare specialty with a university degree and working in a private company in the UAE). The inclusion of this category aims at maintaining current competencies and attract new competencies.

Outstanding students
The decision also includes provisions for granting a 5-year visa to outstanding students with a grade of at least 95% in public secondary schools in public and private schools, and a distinction of at least 3.75 GPA upon graduation from universities within and outside the country. Benefits include families of the outstanding students.