UAE VISA : For non-UAE residents who seek to explore multiple opportunities here and enjoy long term investments can now avail 6 month multiple entry visa, introduced recently. Over 6,000 applications have been received by the ICA (Federal Authority for Identity & Citizenship) in the very first week of its announcement of this long term visa system. It is from entrepreneurs and investors that majority of the applications were received. This is pursuant to the 2018 Cabinet Decree Number (56), which stipulates residency provision facilities to those meeting the set criteria in each category including their family members. Applicants, according to recent announcements by the ICA can seek details from its official website that is accessible easily through its public page. There is no need to have a user name & password and create an account for access.

Addition of three new services:

1. Issuance of 6 month visa combined with several trips to ensure completion of investor’s residency procedures.
2. Issuance of 6 month visa combined with several trips allowing completion of long term residency procedures meant for both outstanding students and entrepreneurs.
3. Issuance of 6 month visa combined with just a single trip for completion of residency procedures meant for talented individuals.

According to the Director General (Foreigners Affairs & Ports), Mj. General Saeed Rakan Al Rashidi, there is noticed great demand for these facilities, thereby contributing towards improving further UAE’s attractiveness as distinctive investment environment as well as support proactively its social and economic competitiveness, thus enhancing regional leadership, including worldwide advanced position to offer the very best and most appropriate business environment for capital owners and investors, searching for freedom of movement, ease of procedures and possibility of enjoying greater stability for themselves and their families, as well as achieve set aspirations and ambitions. He further concluded that the objective of the 6 month visa is to offer people desiring to have long term residency to make visits to the state, for reviewing facilities in different fields as well as to identify available opportunities in the specific field of interest, including study options present, so as to come up with decisions that suits their families. He enumerated that those obtaining such visas are provided by the ICA, be it single or multiple trips, Emirate ID card with the objective to make the process much easier for them, thereby allowing them to have all procedures completed on time with greater flexibility and convenience, including opening of bank accounts, direct licensing procedures, carrying out various types of transactions and property registration. He also stated that such visa has been dedicated towards foreign entrepreneurs and investors, so as to attract owners of leading companies, investments and capitals along with competencies and international expertise pertaining to all the major segments associated with the national economy and to ensure that they contribute towards journey of progress and renaissance as noticed by the State in different fields. According to him, people who have successfully met the conditions to obtain long term residency with regards to different resident categories in the state are eligible to make applications if they strongly desire, but through heir system accounts and e-channels, without having to obtain the 6 month visa, such that during residency renewal time, long term residency system transfer is requested with regards to the category, where the conditions apply. He also praised the kind of attention that was made by the ICA towards long term residency system with the direct supervision and close follow-up made by the Board of Directors’ Chairman, Ali Md. Al Shamsi, who emphasized consistently about facilitating procedures meant for customers as well as to expedite their application process and to provide all necessary facilities that will help to save their precious effort and time, thus allowing them to incorporate their business at the earliest time possible.

Al-Rashedi narrated the conditions to be met in every beneficiary category and privileges to obtain:

10 year investor residency visa

10 year investor residency visa, under which residency permit is offered to the applicant for 10 year period, but without sponsor in State, including his wife, children and family members, as well as sponsor domestic workers limited to 3 workers and obtain residency for any single senior employee (executive director or adviser) for 10 year period with family members along with possibility to obtain multiple visa entry for 6 month period, which is renewable for incorporation purpose for similar time period, provided he possesses:

• Dhs 10+ million deposit in any investment fund within the State.
• Or own company within the state having capital of over Dhs 10 million.
• Or form partnership in any new or existing company having shares over Dhs 10 million.
• Or have total investment within the state of over Dhs 10 million, subjected to the fact that non-real estate related investment is not less than 60%.
• The said amount is not a loan, but is wholly owned.
• The investment is kept at least for 3 years from residency obtaining date.
• Minimum Dhs 10 million creditworthiness, in case of civil judgments and financial claims.
• For entire duration of stay, possess inclusive health insurance documentation for self and family members.

Investor residency in real estate sector

Investor residency in real estate sector, the category applied to obtain residency permit is to be of 5 years, but without sponsor present in state, including his wife, children, family members, with the possibility to sponsor domestic workers to about 3 workers at the max. He will be required to:

• Whole owner of the property
• Own more than one property within the UAE having total value of Dhs 5+ million.
• Investments kept for minimum 3 years from date of residency possession.
• Inclusive health insurance documentation present for self and family members for entire duration of stay.

Entrepreneurs Residency

Entrepreneurs residency : 5 year residency UAE visa is offered to the owner, with the possibility to qualify for investor visa for 10 year time period, 5 year residency for 3 executive managers, 5 year residency visa to allow family members (children, wife and husband), 5 year residency visa for 3 executive directors, with the opportunity to avail 6 month visa combined with multiple trips along with the possibility to renew for another 6 months, subjected to she/he has the following:

• Valid approval from State certified business incubator
• Successful, previous project amounting to at least Dhs 500,000.

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