In order to further bolster the UAE’s position as a primary destination for international investors and attract global talents, the UAE Cabinet on Sunday announced a new system of visas for investors and professional talents providing them with a long-term visa for up to 10 years.
The Cabinet was chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
"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 in the UAE," said His Highness Sheikh Mohammed bin Rashid Al Maktoum.
His Highness directed the Ministry of Economy 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.
New Visa System
The new visa system will increase the chances of attracting investors and competencies to the UAE and therefore increase the country's economic competitiveness globally.
The global investors' 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 the scientists and innovators.
The new system will grant five-year residency visas for students studying in the UAE, and 10-year visas for exceptional students.
The new decision will also review the current residency system to extend the residency time for the dependent students after completing their university studies. This will give them the opportunity to study their practical options in the future.
