The UAE Cabinet has approved a long-term visa system. The system applies to investors, entrepreneurs, specialised talents and researchers in the fields of science and knowledge as well as outstanding students. The aim of this new system is to facilitate business and create an investment environment that encourages investors and entrepreneurs.
Earlier this year, the UAE Cabinet made the motion to grant investors ten-year residency visa. They also decided to grant residency visas of up to 10 years for specialists in the medical, scientific, research and technical fields, and for scientists and creative talents of culture and arts. The visas extend to their children and spouses too.
The decision made by the cabinet also includes the terms and conditions for obtaining long-term visas for all the different categories. Investors are split into two categories, investors in a property and investors in an established company, a business partnership or with public investments. Entrepreneurs are also split into two categories, those having a project with a minimum of Dhs 500,000 and those with the approval of an accredited business incubator in the country.
The benefits of the entrepreneurial visa includes 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.