What are the requirements for a 10 years residence visa in the UAEHaseeb
In our previous articles, we informed you about new UAE regulation under which UAE will issue 10-year visas for professionals in various fields. The main objective of this long-term visa system in the UAE is to present an ideal place to investors for their business setup in UAE.
Read More: New UAE Laws Mean a Big Boost for Business
Now we have received a recent update from Dubai Media Office about who qualifies and what are the requirements to obtain 10 year residence visa in the UAE. We will answer the queries one by one.
1. Who can avail long-term visas in UAE?
- Special talents
- Outstanding students
2. How can investors get a long term visa in the UAE?
For this purpose, investors are divided in 2 categories.
- Property Investors: who purchased property worth AED5 million or more will be granted residency for 5 years.
- Investors who are investing through deposits, an established company, and business partnership of AED 10 million or more (no real estate investment) will be granted long-term renewable residency visa every 10 years.
Requirements for investors to obtain 10 year residence visa
- The amount investor has invested must be fully owned by the investor and not to be taken as loan. Investor should keep supporting documents to prove that the amount invested is his own.
- Investment should be maintained for good 3 years minimum.
- Investors should not have financial solvency of more than AED 10 million.
- A business partner along with his/her spouse, children, executive director and one advisor can be granted long term visa if he/she contributes AED 10 million.
- Investors have to enter UAE for period of 6 months, with multiple entry during the process for applying long term visa.
1. How can entrepreneur get long term visa in the UAE?
Entrepreneurs who have had earlier projects worth a minimum of AED 500,000, or those who have approval of an accredited business incubator in the UAE will be given 5 year visa which can also be upgraded to investors’ visa if the criterion for investors’ visa is met.
A major advantage of entrepreneurial visa in the UAE is that it can include partners, up to 3 executive directors as well as spouses and children.
Entrepreneur will be allowed to enter UAE for 6 months, multi-entry visa period, with renewal for another 6 months.
2. What are special talents and how they can avail long term visa?
Special talents are referred to as specialists and researchers in the field of science and knowledge, medicine, sand other fields, as well as creative in culture and art. They will have the opportunity to apply for a 10-year long term visa. The visa will include spouses and children.
Special talents are required to have a valid employment contract in a field of priority for the UAE. There will be a number of additional requirements for each category they will need to meet, such as for doctors and specialists: holding a PhD from one of the top 500 universities in the world, or for Inventors to obtain a patent of value added to UAE’s economy with the approval of the Ministry of Economy.
3. How can outstanding students get long term visa in UAE?
Students who have passed their grades in secondary school with at least 95% and a GPA of at least 3.75 upon graduation from university with and outside the country will be eligible for 5 year visa. Even their families will be benefitted from this program.