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UAE Launches New 10 Year Residence Visa - Luxuria Tours & Events

10 Years UAE Residence Visa For Investors & Students

UAE Launches New 10 Year Residence Visa

 

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, announced the decision after chairing a Cabinet meeting. the UAE Cabinet approved the issuance of a 10 Year Residence Visa for specific professions.

10 Year Residency Visas; 100% Foreign Ownership

Investors and specialists such as doctors and engineers will receive UAE residency visas valid for up to 10 years, it was announced on Sunday. The families of these categories of expatriates will also receive the same visa validity. Top performing students are also eligible for the 10-year residency visa scheme.

UAE Launches New 10 Year Residence Visa - Luxuria Tours & Events

Who Can Get the 10 Year Residence Visa?
This will be applicable to UAE investors, Entrepreneurs and specialists in the Scientific, and Technical fields. It is expected to be implemented by the end of 2018, but here’s where it gets bigger! This Visa can also be extended to family members and dependents.

It’s also important to note that students will be able to get a Five-Year Residency Visa. This will be sponsored by their university, and if you’re an exceptional student, you can even get a 10 Year student visa!

The cabinet is also considering a possible extension of residency visas for dependent students after they complete their university studies. This will give them enough time to consider their future Post-Graduate options in the UAE.

How Can I Apply For the 10 Year Visa?

This information is not out as yet. Watch this space for further details on how UAE residents can apply for the 10 year Visa.

How Does the Current Residency System Work?

The current system offers renewable Work Residency Visas ranging from 1-3 Years. Aside from this, the UAE government also offers Property Residency Visas applicable on bought property across the Emirates. The period for this Visa ranges from 6 months up to 2 Years. Students and family dependents are supposed to renew their Visa on a year to year basis, extended by their current sponsor.

Investors can have 100% ownership of their companies in the country

“The UAE will remain an incubator for innovators and a hub for investors,” Sheikh Mohammed tweeted. “Our open environment, tolerant values, infrastructure and flexible legislations constitute the best plan to attract global investments and exceptional talents. The UAE will remain a land of opportunities. It is the best environment to realise the dreams of humans and unleash their exceptional potentialities.”

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