Today, if you want to ask for a United Arab Emirates (UAE) visa, the good news is that based on the new policies on VISA issuance, you can take a 10-year residence visa if you are an investor, a professional, or a top-performing student. If you like to know more about this 10-year residence visa, continue reading.
When did the UAE first move to issue 10-year residency visas?
It all started on 20 May 2018, that time the Cabinet accepted the new visa ruling. They do this with the purpose of upholding the UAE as a primary destination for multinational investors and outstanding talents over the world. The Highness Sheikh Mohammad bin Rashid Al Maktoum, the Vice President and Minister of the UAE and Ruler of Dubai, has inked this ruling.
Among the other officials present during the meeting in Abu Dhabi were Lt. General Sheikh Saif Bin Zayed Al Nahyan (Deputy Prime Minister and Minister of Interior) and Sheikh Mansour Bin Zayed Al Nahyan (Deputy Prime Minister and Minister of Presidential Affairs).
UAE changed the residency system based on the 10-year visa rule
Sheikh Mohammad stated that the UAE accepted the 10-year visa rule to become a “global incubator” for famous artists and a top-of-mind destination for multinational investors with adjustable and easy virtues. As I mentioned above, this 10-year residence visa will also include professionals in the scientific, medical, research, and technical fields. On the other group are exceptional students who will be granted the same 10-year visa. The UAE government predicts that this new visa system will attract more investors and make a stronger economy. Also, they do this with the purpose of making the global investors’ ownership of businesses in UAE 100%.
Impact of the 10-year visa on the UAE real estate market and businesses
As the strategic position of the UAE country is near some major cities in the world, the tolerant policies and high-end facilities would highly affect the new business setups and property investments. So when the UAE accepted the new policy of a 10-year visa, they expected to make a significant impact on the properties for sale in Dubai and other UAE cities. All of these factors make the UAE, specifically Dubai, the best global hub for investors and a permanent residence for expats who like to expand their businesses in the upmarket city. The 10-year residence visa is a security for most investors who want to spend huge amounts of money in the UAE and gain 100% full ownership. It makes the residents fully control their own company and reach a more successful homegrown business.
Based on the new policy of the UAE, more investors from different parts of the world will like to invest in this country’s real estate market. You can read more about the UAE off-plan projects and ready-to-move-projects in UAE on the dxboffplan site. Also, you can ask all your questions from our online team 24/7 for free.