UAE government has finally launched the new 10 years long-term visa residency program for five different categories.
On Wednesday, 1st May 2019, the UAE government has finally brought into force the Cabinet law for a long-term residency visa for expats. According to this new law, the following categories of people will stand eligible:
- investors
- real estate investors
- entrepreneurs
- talented people like doctors, researchers, and innovators
- outstanding students
Major-General Saeed Rakan Al Rashedi, Director-General for Foreigners Affairs and Ports, announced the brief details with the media of this new program.
Applicants under these categories will not only able to get a renewable visa of 10 years, but they would also be able to bring their children and spouses to the UAE.
Visa criteria, duration, and benefits for each category have been set as follows:
1- Outstanding Students
- Outstanding students will be able to get a renewable visa of 5 years.
- His/Her family will also be able to get a renewable visa of 5 years.
Requirements: They should have scored 95% marks in secondary school certification with a distinction of 3.75 GPA in graduation from any university.
2- Entrepreneurs
- They will be able to get 5 years renewable visa.
- Their children and spouse will also be able to get 5 years renewable visa.
- Multiple entry visa of 6 months extendable to more than 6 months.
- Five years visa for 3 executive directors.
Requirements: Applicant(s) must own a project with a minimum value of AED500,000 (approx.USD136122.50). They must also show that they have got an accreditation certificate from the government.
3- Doctors, Researches, and Innovators (talented people)
- They will be enjoying 10 years renewable visa.
- They can also bring their families (children and spouses). Same duration visa will also be issued for them.
Requirements: They must have specialization and a valid work contract from employers with highly demanded job sectors in UAE.
4- Investors
- Investors under this category will be able to get 10 years renewable visa.
- They can also have the possibility to invest with a partner. In this case, each must invest AED10 Million (approx. USD.2722450)
- 10 years visa will also be available for one executive director and one adviser.
- Multiple entry visa of six months.
- 10 years renewable visa for spouse and children.
Requirements: Investors must have AED Million (approx. USD.2722450) by depositing or through a company. They must also show that they have a nonreal estate investment of not less than 60% of the total investment. The investment should not be a loan amount otherwise he must show the rights of investment for a minimum of 3 years. Assets cannot be considered towards the minimum requirements of an investment.
5- Real-Estate Investors
- The real estate investor will be able to get 5 years residency visa that is extendable.
- 5 years visa will also be available for one executive director and one adviser.
- Multiple entry visa of six months.
- 5 years of renewable visa for spouse and children.
Requirements: Real estate investor must invest a minimum of AED5 Million (approx. USD.13612250). He must also show the full ownership of the investment and this should not be a loan amount otherwise he must show the rights of investment for a minimum of 3 years.