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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:
You should fulfill any of the following categories in order to obtain a 10-year residence visa in the UAE.
Local Investor of at least 10 Million AED that satisfy these forms such as:
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.
The UAE government will provide a 5-year residence visa for the following categories.
An investor can invest in a property (ready condition) as long as they fulfill the following conditions:
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.
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:
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:
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:
For the offline applicant, you can apply for a visa by directly going to one of the Typing or Amer centers.