UAE creates new five- and ten-year visas to attract long-term residents and investors
Coming off the introduction of their new retirement visa, the United Arab Emirates have reportedly decided on a new type of residential visa that should make many people, from investors to families, very happy.
The UAE government has introduced two new types of long-term residence visas, one for 10 years and the other for five years. The new visas are aimed at particular careers and investment niches.
Investors with Dh5 million (£1.06 million) or more can be granted a five-year residence visa. However, investors with a Dh10 million or more (£2.12 million) investment in the UAE are eligible for a renewable 10-year residence visa. The investment for both categories has to be held for at least three years, and the visa can be extended to cover the investor’s immediate family (spouse and children).
Specialists in fields such as doctors, scientists, inventors, and artists are also eligible for a 10 residence visa if they are offered employment in the UAE, a visa that can also extend to cover an immediate family.
Entrepreneurs who invest Dh500,000 (£107,391) in a company based in the UAE can get a five-year entrepreneurial visa, which extends not only to their family, but also partners in the company and three executive directors.
And if a high-scoring student, you could also earn a five-year residence visa with a 3.75 GPA from a university from the UAE or internationally.
With the UAE offering more longer-term visas, the country is thinking long-term in regards to its future, attempting to attract more permanent residents as opposed to people working in the country for the short term.
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