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UAE introduces new long-term visa system

UAE introduces new long-term visa system

Abu Dhabi - Mubasher: The UAE Cabinet approved on Saturday a new comprehensive long-term visa system for investors, entrepreneurs, specialized talents and researchers and outstanding students. 

The aim is to facilitate business and create an attractive and encouraging investment environment for the growth of business for investors, entrepreneurs and professional talents. 

The decision of the Cabinet follows the previous decision approved earlier this year to grant investors ten-year residency visa, as well as to grant residency visas of up to 10 years for specialized specialists in the medical, scientific, research and technical fields, and for scientists and creative talents of culture and arts, including their spouses and children, Emirates News Agency (WAM) reported. 

The decision includes the terms and conditions for obtaining long-term visas for investors, entrepreneurs, specialized talents, researchers in the fields of science and knowledge, and outstanding students to attract talents in all vital sectors of the national economy. 

The visa benefits also include the spouse and the children to ensure a cohesive family and social structure and to create a stimulating environment for stability and growth. 

The decision includes the provisions to grant investors from UAE and broad a long-term visa. It defines two categories for investors: Investors in a property of a value of AED 5 million or more will be granted a residence for five years, and investors in public investments through a deposit, an established company, business partnership of AED 10 million dirhams or more, or a total investment of not less than AED 10 million in all areas as long as non-real estate investments are not less than 60% of the total investment, will be granted a renewable residency visa every 10 years.