In 2019, the UAE implemented a new system for
long-term residence visas. The new system enables foreigners to live, work and study in the UAE without the need of a national sponsor and with 100 per cent ownership of their business on the UAE’s mainland. These visas will be issued for 5 or 10 years and will be renewed automatically.
5 Year Residence VisaAs the UAE creates an environment that is more and more welcoming to foreigners and expats, it has given a boost to the economy of the country with the introduction of the 5-year Residency Visa. This visa rule will give people across the world the pathway to a long-term investment in the region, while giving the opportunity to retiring expats already invested in the UAE, a chance at staying on longer. The Residency Visa will also let students and young professionals invest in the UAE by starting a business or by creating employment prospects for themselves.
The 5-year Residency Visa has significant benefits for retirees looking to extend their stay and take advantage of the real estate market. Property investment is one of the biggest effects to come out of this visa rule because of financial benefits of owning property in one of the most lucrative real estate markets in the world. Property investment is a bigger financial significance than having an accumulated savings account.
While this move will certainly see older professionals and investors take advantage of home loans with longer tenures, students and young professionals themselves can invest in property in the UAE by taking out loans with longer tenures.
Dubai Residency plays an important role in the 5-year Residency Visa plan. We assure our clients that we have the necessary local knowledge to ensure your investor visa is processed by providing the quickest service. We are dedicated to delivering outstanding customer service through every step of the visa process. As a leading investment advisory and consultancy service we provide complete visa solutions for businesses, entrepreneurs, students, young professionals and investors. We have an exceptional team made up of investment consultants with the right experience and expertise who are available at your service. We want to take away the hassle and headache of sorting out your own
investor visa and let us take over the entire responsibility. Our #1 priority is to ensure you receive the right visa solution and our team of skilled visa experts will navigate the process with you step by step. We want you to focus completely on your business growth, expansion and success that Dubai has to offer, while we do the hard work for you.
1. Investors in a property in the UAE
Conditions:
Granting a visa is subject to the following conditions:
The investor must invest in a property of a gross value of not less than AED 5 million. The amount invested in real estate must not be on loan basis. The property must be retained for at least three years.
2. Entrepreneurs
This category includes those having an existing project with a minimum capital of AED 500,000, or those who have the approval of an accredited business incubator in the country. The entrepreneur is allowed a multi-entry visa for six months, renewable for another six months. The long-term visa includes the spouse and children, a partner and three executives.
3. Outstanding Students
This includes: outstanding students with a minimum grade of 95 % in public and private secondary schools university students within and outside the country having a distinction GPA of at least 3.75 upon graduation. Long-term visa includes families of the outstanding students.
Source:
Federal Authority for Identity and citizenship
Emirates News Agency-WAM
Reference: Cabinet Resolution No. 56 of 2018 Regarding the Organization of Residence Permits for Investors, Entrepreneurs and Professional Talent. (Check with Ministry of Justice in the UAE.)
10 Year Residence VisaThe following categories are entitled to apply for a 10-year residence visa in the UAE.
1-Investors in public investments of at least AED 10 million
The investment may take many forms such as:
A deposit of at least AED 10 million in an investment fund inside the country
Establishing a company in the UAE with a capital of not less than AED 10 million
Partnering in an existing or a new company with a share value of not less than AED10 million
Having a total investment of not less than AED 10 million in all areas mentioned, on condition that the investment in sectors other than real estate is not less than 60% of the total investment.
ConditionsGranting a visa is subject to the following conditions:
1- The amount invested must not be loaned.
2- The investment should be retained for at least three years.
3- There should be a financial solvency up to AED 10 million.
4- Visa can be extended to include business partners, on the condition that each partner contributes AED 10 million.
5- The long-term visa could include the spouse and children, as well as one executive director and one advisor.
6- Investors from abroad may apply for a multiple-entry permit for a six-month period.
2-Persons with specialised talentsThis includes specialised talents and researchers in the fields of science and knowledge such as doctors, specialists, scientists, inventors, as well as creative individuals in the field of culture and art. The visa advantage extends to the spouse and children. All categories are required to have a valid employment contract in a specialised field of a priority in the UAE.
Conditions Granting a visa is subject to the following conditions:1- Scientists must be accredited by Emirates Scientists Council or holders of the Mohammed Bin Rashid Medal for Scientific Excellence.
2- Creative individuals in culture and art must be accredited by Ministry of Culture and Knowledge Development.
3- Inventors must obtain a patent of value, which adds to the UAE's economy. Patents must be approved by Ministry of Economy.
4- Exceptional talents must be documented by patents or a scientific research published in a world-class journal.
5- Executives must be owners of a leading and internationally recognized company or holders of a high academic achievement and position.
Doctors and specialists must meet at least two of the following conditions:1- A Ph. D. degree from one of the top 500 universities in the world (refer to ICA for information)
2- An award or certificates of appreciation in the field of the applicant’s work
3- Contribution to a major scientific research in the respective field of work
4- Published articles or scientific books in distinguished publications in the respective field of work
5- Membership in an organisation related to the field
6- A Ph. D. degree, in addition to 10-year professional experience in his field
7- Specialization in areas of priority to the UAE.
With the implementation of the new law in granting a 10-year residency visa, the purpose of the government is to attract new investors and foreigners while retaining expats in the UAE region. Currently, the 100% ownership of companies will be limited to businesses being established in the Free Zone. The long-term 10-year visa is aimed at entrepreneurs, investors and specialists working in fields such as research, medicine and science.
