The government of UAE has given another initiative to make sure UAE’s reputation as a global destination for capital and investment owners can be preserved. To enhance UAE’s attractiveness as a distinct investment destination the government has introduced their new visa policy, which is the six-month multiple-entry interim visa for non-UAE residents for long-term investments.
After announcing this new visa regime, the non-residents of UAE can transfer their current visa into “investor permit” after fulfilling their given requirements.
According to a statement from the Federal Authority for Identity and Citizenship “This new visa policy has presented through three different categories for the investors, experts and bright students who have the eligibility for the long term visa (nine to ten years), to find the best opportunities according to their fields to make the most suitable decision for themselves and families.”
Major General Saeed Rakan Al Rashidi, Director General of Foreigners Affairs and Ports said: “to increase UAE’s charm as a world-class destination for investments, there is a number of demands for the facilities that need to be fulfilled”.
These facilities will also be a reason for enhancing the UAE’s economic and social competitiveness. Which will create an environment for the investors and capital owners who are looking for easiness in the procedures. This could also give flexibility freedom to move around and stability for families empowering them to achieve their ambitions.
Emirates ID will have issued by the ICA to those who obtain an interim visa in order so that they can complete their procedures with comfort and flexibility. Through this, they will be able to use the direct licensing procedures and open bank accounts and property registration and other transactions said by officials.
The conditions to become eligible for the long-term visa are in three different categories.
Category 1
10-year investor residency visa in which the applicant will be able to get residency in the state of UAE without any sponsor for ten years. This visa will be offered to all the family member as well as wife and children. Up to three domestic workers can be sponsored along with the possibility of gaining residency for one of the senior employees which can be an advisor or executive officer for ten years along with their family. Another possibility through this policy is obtaining a multiple-entry visa for a period of six months renewable for a similar period for the purpose of incorporation.
Conditions:
- A deposit of at least Dh10 million dirhams in an investment fund in UAE
- Or at least own a company worth Dh10 million dirhams UAE.
- Or a partner in a new or existing company with a share of worth at least Dh10 million dirhams
- Or has a total investment of not less than Dh10 million dirhams.
- The amount should be fully owned and not loaned.
Category 2
The applicant obtains a residency permit for five years without a sponsor within the UAE under the residency of an investor in real estate, and also his family along with the possibility of sponsoring three domestic workers.
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Conditions:
- Own a property or two at least worth of Dh5 million.
- The property needs to fully owned.
- Need to keep the investment at least for three years from the date of obtaining residency.
- Health insurance documents should be included for him and his family during the stay.
Category 3
Entrepreneurs residency in which the owner will be authorized with a five-year residency visa with the aptitude to be capable of having a ten-year investor visa. A five-year residency for three executive officers. And an opportunity for a six-month visa with multiple trips and with a chance of renewal for another six months.
Conditions:
- A successful project in the past of worth Dh500,000
- A certified incubator needs to approve from the state.
This new visa policy will take you to new lengths for achieving your ambitions, especially if you are willing to put your investment in a business. This policy eases all the procedures you had to go through earlier doing business in the state of UAE.
