UAE Cabinet issues long-term visa systems for Investors!
In one of our article releases earlier in the year, we informed our readers on how the Government authorities in the region had decided to grant investors in the region with a 10-year residency visa in order to boost and propagate investments in UAE. Thus, upon a recent meeting, the Cabinet authorities came up with a set of terms and conditions under which these visa extensions and long-term visa grants will be provided to different types of investors.
However, this initiative does not center around investors only. But, also includes professionals and specialists from the medical, scientific, research, as well as technical fields. The primary reason behind this decision is certainly to motivate, propagate, uplift and support all kinds of infrastructural, technological and educational advancements within the country. This decision aims to establish and promote UAE’s image across the globe as a country with the finest set of opportunities and an extremely optimal environment to pursue business setups in.
The visa policies for all the mentioned field associated individuals vary. We would be focusing on the terms, conditions and set of rules defined for investors in particular as per long-term visa grants. In terms of long-term visa grants, this policy applies to both the types i.e. local investors and foreign investors looking to invest in property in UAE. The Cabinet authorities segregated such investors in two main categories i.e.
- Investors with a property investment value of AED 5 million or more will be provided with a 5-year residence visa.
- Investors with property investment value of AED 10 million in public sector through a deposit, an established company, a business partnership worth AED 10 million or a cumulative investment in all the mentioned areas summing up to AED 10 million as long as non-real estate investments are not lesser than 60% of the total will be provided with a 10-year residence visa.
Thus, there are certain terms and conditions that come with both of these types of investors. i.e.
- The investment should not be loaned and belong entirely to the investors. The investor needs to provide the authorities with all the required and supporting documents in order to prove the same.
- A minimum 3-year investment retention.
- A standard financial liability with a financial solvency not exceeding Dh10 million
- The long-term visa granted can also be extended for spouse and children, business partners(given that each partner also contributes AED 10 million), an advisor and an executive.
- The decision allows investors to enter the country for a six-month period, multiple entry, to apply for the long-term visa requirements
This advancement certainly ascertains the investors’ faith in this flourishing economy in UAE and is expected to reap good results for the region’s economic and financial withstanding.