UAE Cabinet approves 10-year visas for investors and those who are high professionals (doctors, engineers, etc.) to include their families in addition to grade ‘A’ students. The Cabinet, chaired by Dubai Ruler Sheikh Mohammed bin Rashid, said this flexible legislation is all part of a plan to attract international investment and exceptional talent in all vital sectors of the national economy. The new visa rules are another step forward for the country’s vision to gain a lot more security and settlement. UAE will remain the land of opportunity and offers a permanent destination for international investors, he added.
The new regulations approved by the Council of Ministers has set in motion procedures to grant investors residence visas of up to 10 years. Students will be granted 5-year visas but those who are exceptionally talented will be provided with 10-year residence permits together with working professionals that have specialized competencies in the medical, scientific, research and technical fields. This provision is expected to further promote UAE’s ability to attract investors and competencies.
This is definitely a game changer for students, entrepreneurs and professionals that can now build careers and businesses without having the fear of having to leave soon.
The visas will be for residency, as opposed to employment, said the Cabinet that worked on the UAE’s new 10-year Visa System rule geared towards making people feel happy to work and live in the UAE. The Cabinet meeting that was chaired by Shaikh Mohammad at the Presidential Place in Abu Dhabi on Sunday (20 May), included Lt. General Shaikh Saif Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior, and Shaikh Mansour Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs.
Not having to worry about their visa for 10 years will definitely be attractive for more doctors, pharmacists and engineers from abroad. The residency system, as amended, will definitely ease the pressure enabling entrepreneurs or students taking any internships to relocate for short-term opportunities with more assurances knowing there might be more business or job prospects for them in the UAE.
Much has been done by the UAE in reforming its Visa system. There are many country nationals that may enter the UAE without a visa, as part of the UAE VOA Agreement. Meanwhile, the UAE is also planning to waive the visa requirement for more visitors who earlier required pre-entry visas that will now obtain a free visit visa. There are also options like single entry for 30 days and multiple entry for 90 days where extension is possible for a fee.
Nonetheless, the new visa system could provide a welcome boost to the Dubai and Abu Dhabi property markets, tells Robert Anderson, Deputy Editor at Gulf Business, which is good news for property developers like Dubai’s Emaar Properties, Damac Properties and Nakheel Properties that are already benefitting from the boost of UAE’s property market.