UAE Long Term Visas: Key details you need to know
With the UAE Cabinet approving new long term visa, announced earlier this year, this article aims to set out the details as well as the terms and conditions.
Investors, entrepreneurs as well as scientists, doctors and researchers, will be granted permission to stay in the country for up to 10 years as part of the plan.
The UAE Cabinet has also approved the introduction of long term Retirement Visas and long term Visas for outstanding Students.
For Investors, both within the UAE and abroad, the long-term visa can be divided into two categories:
- 5-year residence visa
Minimum investment of Dh5 million
- 10-year residence visa
Minimum investment of Dh10 million with at least 60% non-real estate investment i.e. public investment through new business partnership or addition of funds to an established company
Four Key Terms and Conditions:
- Entire investment amount to come from the investor, without any loans or financing – supporting evidence will need to be supplied for this
- The investment must be retained for a period of 3 years under standard liability and with a financial solvency not exceeding Dh10 million
- Investors will be permitted multiple entries to the UAE for a six-month period, whilst applying for the long-term visa requirements
- The long-term visa could also be extended to include business partners, (provided that each partner contributes Dh10 million), the spouse and the children, as well as one executive director and one advisor
For Entrepreneurs, the key requirements for long term visa are:
- A previous project with a minimum of Dh500,000
- Approval of accredited business incubator
Entrepreneurs will be granted a five-year visa with the possibility of upgrading to ten-year visa. An entrepreneur’s business partners, three executive directors, spouse and children will also be granted visas. Entrepreneurs will be given permission to enter the Emirates for a six-month period with multiple entry, and the option to renew for another six months, to apply for the visa.
Visas for specialists in science and knowledge
Scientists, doctors and researchers will be granted a 10-year visa. To qualify they must have:
- A valid employment contract in a specialised, priority field
- Doctors and Scientists must meet at least two of the following conditions in addition to holding a PhD degree and 10 years professional experience:
- PhD degree from one of the world’s top 500 universities
- Award/Certificate of appreciation for their work
- Contribution to scientific research
- Published articles or scientific books in distinguished publications
- Membership of an organisation which requires academic excellence
- Scientists must be accredited by the Emirates Scientists Council. Holders of the Mohammed bin Rashid Medal for Scientific Excellence are also eligible for the 10-year visa. Spouses and children will also be included under the visa for researchers, scientists and doctors.
From 2019, expats over 55 years old will be eligible to secure a five-year UAE retirement visa, based on the following criteria:
- Investment in a UAE property worth Dhs 2 million
- or have financial savings of no less than Dhs 1 million
- or have an active income of at least Dhs 20,000 per month
Outstanding Student Visas
Students who have earned a grade of at least 95 per cent in secondary school, and a GPA of at least 3.75 upon graduation from university will be eligible for a five-year visa. Their families will also be included on the visa. This visa can be eligible for 10-year if the student is deemed exceptional.
For more information on long term visas or company formation in the UAE, please visit the PRO Partner Group website or contact us on +971 (0)4 456 1761 / email@example.com
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— PRO Partner Group (@PROPartnerGroup) January 3, 2019