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UAE Cabinet approves long-term visa system
The decision made by the UAE Cabinet approving the long-term visa system for investors, entrepreneurs, specialized talents and researchers in the fields of science, knowledge and outstanding students to facilitate business and create an attractive and encouraging investment environment for the growth of business for investors, entrepreneurs and professional talents.
The provisions granting investors a long-term UAE visa every 10 years. It defines two categories for investors: Investors in a property of a value of 5 million dirhams or more will be granted a residence for five years, and investors in public investments through a deposit, an established company, business partnership of 10 million dirhams or more, or a total investment of not less than 10 million dirhams in all areas mentioned as long as non-real estate investments are not less than 60 percent of the total investment.
It also includes the terms to grant long-term visa to two categories of entrepreneurs: those having a previous project with a minimum of Dh500,000, or having the approval of an accredited business incubator in the country. Entrepreneurs will be granted a five-year visa with a possibility for upgrading to an investor’s visa provided they meet the requirements.
The decision also includes provisions for granting a 10-year visa for specialized talents and researchers in the fields of science and knowledge for doctors, specialists, scientists, inventors. As well as creative individuals in the field of culture and art. The visa's advantages include the spouse and the children.
The provisions also grantingdoctors & specialistswith at least 2 of the conditions must be met;