UAE approves policy framework for Residence Visas

The UAE Cabinet has approved the policy framework for offering Residence Visas of 5 and 10 years. This was in a meeting held on 11 March 2019 at the Presidential Palace in Abu Dhabi. The Residence Visas will be offered to specific streams of applicants.

The announcement was made on Twitter by His Highness Shaikh Mohammad Bin Rashid Al Maktoum. He is the Ruler, Prime Minister and Vice President of UAE. The tweet says that the policy framework for offering Residence Visas of 5 and 10 years is now in place. This is for specialized talents, Entrepreneurs, and Investors.  

The concerned authorities in UAE are now authorized to start receiving the applications, adds the tweet. The UAE was and will remain a talents’ destination. It is also a land that fulfils the dreams of all leaders in innovation, says the tweet, as quoted by the Gulf News.

The Cabinet decision is aimed at maintaining the UAE position as the best environment for business. The benefits of the Visas are inclusive of the children and spouse for ensuring cohesive social and family structure. This is to create an environment that stimulates growth and stability.

Investors

• 5 Year Visas – Investors who have a property valued at 5 million Dh or above
• 10 Year Visas – Minimum 10 million Dh value total investment or business partnership, public investments via deposit, an established firm

Entrepreneurs

• 5 Year Visas – Projects worth at least 500, 000 Dh or have the approval of a business incubator accredited in the UAE
• 10 Year Visas -  Entrepreneurs with 5 year Visas will have the opportunity to upgrade to this Visa

Professional talents

• 10 Year Visas – For researchers and specialized talents in the fields of knowledge and science that includes:
• Creative individuals in the field of Art and Culture
• Inventors
• Scientists
• Specialists
• Doctors

If you are looking to Study, Work, Visit, Invest or Migrate to the UAE, talk to Y-Axis, the World’s No.1 Immigration & Visa Company.

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