By: Salma Abdussalam
The long-term residence visas that were announced will officially begin issuance on February 3 per the Cabinet of the UAE. Those who are eligible for this visa include investors, outstanding students and foreign nationals with exceptional talents. The revamped visa system aims to improve UAE’s status as a country with an optimal environment that fosters businesses and special talents.
The five-year residence visa will be available to specific categories of the population: investors with the specified value of investment in UAE real estate; entrepreneurs and up to three executives working for the qualifying entrepreneurs; exceptional students; and spouses and children of the above listed categories.
The ten-year residence visa will be available to specific categories of the population: investors in general investment projects; an executive/advisor working for the qualifying investor who incorporates a company in the UAE; physicians; specialists; scientists; creative individuals in culture and arts; inventors and exceptional talents such as specialists in educational fields of priority; executives with existing employment contracts in the UAE; and spouses and children of the above-listed categories.
The Investors’ Committee (for investors) and the Entrepreneur and Specialized Talents’ Committee (for the other categories) will submit their recommendations to the Federal Authority for Identity and Citizenship, who will then endorse the visas.