Entrepreneurs in UAE can now get Five Year Residential Visa

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To make your business venture easier, the government of UAE has announced about the implementation of Cabinet’s decision of issuing a five-year Visa for the entrepreneurs. This aim is to enhance the ease to do business in the country.

The Federal Authority for Identity and Citizenship has announced about the implementation, which was first announced by UAE Cabinet’s last year.

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While Residency visa will be issued by the authorities, business incubator HUB71 in Abu Dhabi and Dubai Future Foundation’s Area 2071 will be recommending the entrepreneurs for receiving the benefits.

According to a statement, “in this area of training, three entities will likely be collaborating. The input of knowledge, improving to ease of doing business and creating a beneficial environment for investment and business.”

The eligibility criteria for this visa is to have a former business with the worth of at least Dhs500,000 or which is approved by the incubation center in the country.
In this entire period of residency, medical insurance needs to arrange for the individual (and family) by themselves.

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Three executive directors working for that particular company will also be granting the five-year visa by The Federal Authority for Identity and Citizenship. The time duration provided they commit working exclusively for that entrepreneur.

The entrepreneur will be allowed to enter into the country on a six-month multi-entry visa as the support provided to them to complete the procedure to settle their business.

UAE also made an announcement of providing a five t ten-year visa to the investors, entrepreneurs, a specialist in the field of medical and technical. “Outstanding” students will also be benefitted, to facilitate the business and to create a healthy investment environment.

Benefits of the visa will be extended with wider family (children and spouse).

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