To further boost the UAE’s position as a primary destination for both local and international investors, a new system of entry visas for investors and professionals was announced in late 2018. Doctors, among other specialists in medical, scientific, research, technical fields, as well as top students studying in the UAE and investors/entrepreneurs, will now be granted with a long-term visa for 5 or 10 years. The new law focuses on doctors, investors and other specialised professionals as the UAE strives to attract intellects to the country and provides these individuals with a unique and comprehensive value-added platform.
In March 2019, the UAE Government released more in depth information on the requirements and eligibility of long-term visas:
5 Year Visa Requirements and Eligibility (to those without sponsors):
- Investors who have invested in a property in the UAE, the property must have a gross value of AED 5 million or above. Also, the amount invested must not be on a mortgage basis, this is for cash buyers only, and the property must be owned for a minimum of 3 years.
- Entrepreneurs who have an existing project with a minimum capital of AED 500,000 or for those who have an accredited business incubator in the UAE approved. These individuals would be provided with a multi-entry six month visa which is renewable for a further six months while under the application. The spouse, children, a partner and three executives would be included in this long-term visa.
10 Year Visa Requirements and Eligibility (to those without sponsors):
- Investors with public investments of at least AED 10 million. The investment can include the following:
- A deposit of AED 10 million in an investment fund within the UAE
- Establishing a company in the UAE with a capital of AED 10 million or above
- Partnering with an existing UAE company or setting up a new UAE company with a share value of AED 10 million or above
- Having a total investment of AED 10 million or above in areas mentioned above, as long as the investment (in sectors other than real estate) is not less than 60% of the total investment
- There will be conditions regarding the eligibility of long term visas for investors, including:
- The amount invested must not be loaned
- The investment must be retained for a minimum of 3 years
- There should be financial solvency of up to AED 10 million
- Visas can be extended to include business partners, but each partner must contribute AED 10 million or above
- The long term visa can include the spouse and children in addition to one Executive Director and one Advisor
- Also eligible are individuals with specialised talents, including; researchers and skills in the fields of science and knowledge such as doctors, scientists, inventors, specialists and creative persons within culture and art. The visa is extended to the spouse and children. However, the applicant must have a valid employment contract within a specialised field. There are extensive conditions for this form of long term visa.
The UAE offers an unparalleled lifestyle of quality with high-class accommodation, excellent educational and health institutions, world-class shopping facilities, abundant leisure facilities and most importantly is a tax-free city. The UAE’s open environment, tolerant values, infrastructure and flexible legislation constantly attract global investment and exceptional talents to the country, and this announcement further boosts this.
PRO Partner Group can assist you with any questions or applications of long term visas. For more information, please email email@example.com.
UAE Long Term Visas – Requirements and Eligibility Update. In March 2019, the UAE Government released more in depth information on the requirements and eligibility of long-term visas https://t.co/oFJlPVdUT3#UAE #Visa #LongTermVisa #PROPartnerGroup
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