10 Year Visa UAE | Long Term Residence Visa UAE 100% Ownership

April 23, 2019

The United Arab Emirates consist of the Seven Emirates including financial powerhouse of Abu Dhabi, a larger lifestyle of Dubai and Beautiful scenery of Fujairah. The world has seen some remarkable changes in the Dubai business sector.

The officials of Dubai are always encouraged to provide countless opportunities for both local and international citizens. They provide newer policies for business owners and investors around the globe. These policies include tons of great benefits and advantages over the previous one.

For instance, the last policy was that a person can stay in the country for at most 3 years. Now with the newer system introduced, an expat can stay for long-term under certain conditions.

The UAE system will implement a new long-term residence visa for the businessperson, expats, and investors. The new system enables expats to study and work in the UAE without a sponsor. The expats will also get 100% ownership of their business on the UAE. While the previous law was only limited to Free Zone Authority, now foreign investors can obtain long term visa for up to 10 years. Currently, a foreign investor can only obtain 100% ownership in the free zone, not in the mainland. Now with the new announcement, expats will be able to get 100% ownership of their business outside the free zones.

“People with a 10-year visa will have more sense of security about their future in the country. This can play a very big factor in boosting the property market in the UAE.” said by Naveen Sharma, Chairman of ICAI- Dubai.

 

The New System Offers:

• 10-Year visa proposed for certain investors and professionals
• 100% ownership proposed outside the free zone
• An investment of 1 Million AED is required for full foreign ownership

Types of Entry Permits and Visas in the UAE

• Tourist Visa
• Transit Visa
• Electronic visa for GCC residence
• Retirement visa for residence
• Student Visa
• Patient and their companion entry permits

Professions That Are Eligible For 10 Years Visa UAE

• Influencers
• Lawyers
• Science
• Accountants
• High-end individual investors
• Technology entrepreneurs
• Innovators
• Doctors
• Specialists

UAE Long Term Visa Without Sponsor

You should fulfill any of the following categories in order to obtain a 10-year residence visa in the UAE.

10 Year Visa For Investors

Local Investor of at least 10 Million AED that satisfy these forms such as:

• Inside the country, a deposit of 10 Million AED as an investment fund
• Business setup in UAE with the capital of more than 10 Million AED
• Partnership, shareholder value not less than 10 Million AED

Conditions:

• The amount invested is not loaned
• You should have the possession of investment for at least 3 years
• Financial Solvency of up to 10 Million AED
• Visa can be extended for business partners, the conditions are same for the other partner
• 10-year visa could include wife and children
• One ability to apply for a multiple-entry permit of duration 6 month

10-Year Visa For Professionals

These include specialized researchers and talents in the field of science, doctors, inventors, and creative individuals. The main condition is that you should have a valid employment contract in the specialized field.

Conditions:

• The scientist must be recognized by ESC (Emirates Scientists Council)
• Investors must certify by Ministry of Economy, also their invention adds value to the UAE economy.
• Creative expats in the field of art and culture must be endorsed by MCKD (Ministry of Culture and Knowledge Development)

Specialists and Doctors should meet two of these conditions:

• A Ph.D. from the top 500 universities in the work
• A certificate or award in the field of application work
• Book or Articles published in respective fields
• Contribution to scientific research
• Membership in an organization (relevant field)
• More than 10 years of experience in the respective field

UAE 5 Year Visa Without A Sponsor

The UAE government will provide a 5-year residence visa for the following categories.

5-Year Visa For Investors

An investor can invest in a property (ready condition) as long as they fulfill the following conditions:

• The gross value of the property should be more than 5 Million AED
• The property must not be loan basis
• You should have the possession for the property for at least 3 years

5-Year Visa For Entrepreneurs

Entrepreneurs can also extend their visa policy for up to 5 years if they have an existing project of worth 500,000 AED or accredited business incubator in the UAE. In this case, multi-entry visa duration is 6 months. This includes a partner, wife, children, and 3 executives.

5-Year Visa For Students

Outstanding students can also avail a 5-year visa as part of the changes. A student visa is for college and university students currently studying in the UAE. Eligibility conditions are:

Conditions:

• An average grade of 95% from secondary school (private or public)
• At least a GPA of 4.75 on graduation from universities in the country
• A passing medical fitness test
• Approval of the GDRFA (General Directorate of Residency and Foreign Affairs)
• A visa sponsor

5-Year Visa For Expats

At the age of 55, (after retirement) expats in the UAE are allowed to stay a little longer in the country. Eligibility conditions are for an individual expat are:

Conditions:

• Investment in property worth of 2 Million AED
• Have savings of 1 Million AED
• An active income of 20,000 AED/ month

How to Apply for Entry Permits or Visas in the UAE?

You can apply for visas and entry permits through the official website of FAIC, ICA or the GDRFA. Among these GDFRA offers both offline and online channels. Online applicants, you can apply for a visa by either visiting the:

• eChannels portal
• Official website of GDRFA
• Using the mobile app

For the offline applicant, you can apply for a visa by directly going to one of the Typing or Amer centers.

For general inquiry and visa process, contact us on our phone number or via email address. Setup Dubai Business provides professional Company Setup in Dubai Mainland and Free Zone States.