The Cabinet of the United Arab Emirates approved the regulatory framework to issue long-term residency visas for investors, entrepreneurs and specialised talents. The validity of the new permits is up to ten years. "His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai" has announced on Twitter that the relevant departments started to receive the applications from 11 March 2019. "The UAE has been and will remain a destination for talents... and land to fulfill the dreams of all pioneers", added Shaikh Mohammad. The decision aims to maintain the UAE's top position among the leading business-financial environments and centres. The new long-term UAE visa-system serves entrepreneurs, investors, specialised talents (and researchers, doctors, and also students) in the field of science and knowledge. It's clear that the Emirates must facilitate even more its business hub and create an attractive environment for the professional talents, investors and scientists.

Investors may obtain the long-term UAE visa under two options

1. If an applicant invests five million dirhams or more in property, he or she can receive the residence permit for five years.
2. If the applicant put his or her funds in public investments (through deposit), established company, business partnership, then the qualifying amount is ten million dirhams or more. In this case they will receive renewable residency visas for ten years.

Additional issues and categories of the UAE long-term visas:

• Investors must keep the investment for at least three years.
• Business partners can also obtain an extended residency visa if each partner contributes ten million dirhams more. Outstanding students can apply with a grade of at least 95% in secondary school or 3,75 GPA upon graduation from a university. The visa can be extended to family members of the outstanding students.

Long term visa for the special talents in the United Arab Emirates

• The creative individuals must get the accreditation of the Ministry of Culture and Knowledge Development.
• The innovators must get the patent of the value added to the local economy with the approval of the Ministry of Economy. They also must attach the documented foreign patents and the published articles in world-class journals about their scientific journals.
• Professional experience/position and high academic achievement is also a must.

Doctors and scientists must fulfil two of the following options, according to the Gulf News

• The applicant must hold a PhD degree from one of the top 500 universities
• Must have earned awards
• Must contribute to significant scientific research
• Published books or articles
• Membership of the related professional organisation
• Specialisation in any priority areas to the United Arab Emirates for doctors
• The scientists must obtain the accreditation of the Emirates Scientists Council
• The applicant is a holder of Mohammad bin Rashid Medal for Scientific Excellence

Entrepreneurs also can become long-term residents in the Emirates

If they have a previous project with a minimum of 500,000 dirams or have an approved plan form a local business incubator. Entrepreneurs receive five years visa, which is upgradable to the investor's category. Discus Holdings's office in Dubai is an expert of business, company and financial solutions in the United Arab Emirates. Contact us here to receive detailed information.

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