‣ Long-term residency Visa – 5 to 10 years
On 11 March 2019, Shaikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai had announced on Twitter that the regulatory framework to start issuing long-term residence permits for investors, entrepreneurs, innovators and specialised talents is now in place. Departments in the UAE are now receiving applications.
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We also adopted the framework of long-term visas for investors, entrepreneurs, innovators and professional talents. The UAE’s residency departments will start receiving applications. The UAE will remain a global incubator for talents and a permanent destination for pioneers. pic.twitter.com/IL7U2aVApt
— HH Sheikh Mohammed (@HHShkMohd) March 11, 2019
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كما اعتمدنا اليوم الإطار التنظيمي لبدء إصدار تصاريح الإقامة للمستثمرين ورواد الأعمال والمبتكرين وأصحاب المواهب … وستبدأ ادارات الإقامة بالدولة استقبال الطلبات .. دولة الإمارات كانت وستبقى قبلة للمواهب … وأرض لتحقيق أحلام كافة الرواد pic.twitter.com/9W6ico3w9E
— HH Sheikh Mohammed (@HHShkMohd) March 11, 2019
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The UAE Cabinet approved a 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 aims to maintain the position of the UAE as an optimal business environment. 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.
Here are the categories of individuals eligible for long-residency visa:
1. Investors
The provision defines two categories for investors:
- Investors in a property of a value of Dh5 million or more will be granted a residence for five years.
- Investors in public investments through a deposit, an established company, business partnership of Dh10 million or more, or a total investment of not less than Dh10 million in all areas mentioned – as long as non-real estate investments are not less than 60 percent of the total investment – will be granted a renewable residency visa every 10 years.
2. Entrepreneurs
The decision also includes the terms to grant long-term visa to two categories of entrepreneurs:
- Those having a previous project with a minimum of Dh500,000, or having the approval of an accredited business incubator in the country.
- Entrepreneurs will be granted a five-year visa with a possibility for upgrading to an investor’s visa provided they meet the requirements. The benefits of the entrepreneurial visa cover entrepreneurs, partners, three executive directors, spouse and children. The entrepreneur is allowed entry into the country for six months, multiple-entry visa period, with renewal for another six months.
3. Professionals
Specialised talents and researchers in the fields of science, doctors, specialists, scientists, inventors and creative individuals in the field of culture and art. The visa also covers the spouse and children.
All people categorised as professional talents are required to have a valid employment contract in a specialised field, which is of priority to the UAE. Depending on this field, the requirements can include a doctorate degree, publications or global organisation memberships etc.
4. Outstanding Students
This includes students scoring at least 95% marks in secondary schools. This will also include the family members of the students.
‣ Permanent Residency Visa ‘Golden Card’
Apart from the long-term residency visa, UAE has also started receiving applications for permanent residency visa also called as ‘Golden Card’. The country’s Vice President and Prime Minister and Ruler of Dubai announced on 21 May 2019 on Twitter.
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We launched a new “Golden Card” system to grant permanent residency to investors and exceptional doctors, engineers, scientists and artists. The first batch of 6,800 investors with Dh100 billion worth of investments will be granted the “Golden Card.”
— HH Sheikh Mohammed (@HHShkMohd) May 21, 2019
The permanent residency “Golden Card” will be granted to exceptional talents and everyone who positively contributes to the success story of the UAE. We want them to be permanent partners in our journey. Residents are an indispensable part of our country.
— HH Sheikh Mohammed (@HHShkMohd) May 21, 2019
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The UAE launches the permanent residency system “Golden Card” for expats investors, entrepreneurs, specialised talents and researchers to be a part of the UAE’s success story. #UAEGov pic.twitter.com/GAfUdox72s
— UAEGov (@uaegov) May 21, 2019
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