Saturday May 4, 2019
How to get a long term residence visa in UAE?
We at Elegant Services help in Business Setup in Dubai. UAE has recently launched a new long term residence visa law amendment which allows a long term residence visa for 5 years and 10 years. These visa issue to the limited professional category only with a certain condition. well, we would like to bring some information on How to get a long term residence visa in UAE, that might help you to understand:
How to get a long term residence visa in UAE
Long term Visa for Investors.
The Decree defines two categories of investors inside/outside the State: Investors in a property of a gross value of the real estate asset of AED 5 million minimally to be granted a 5-year residency visa, and investors in public investments through a deposit, an established company, business partnership of AED10 million or more, or a total investment of not less than AED10 million in all areas mentioned as long as non-real estate investments not less than 60 percent of the total investment will be granted a renewable residency visa every 10 years.
The Decree outlines general conditions for both categories; that is the amount invested shall be wholly owned by the investor and not loaned, and should be proven by supporting documents, investment retention for at least three years, a standard financial liability with a financial solvency not exceeding AED10 million, the long-term visa could also be extended to include business partners, provided that each partner contributes AED10 million, the spouse and the children, as well as one executive director and one advisor, however, the Decree allows investors to enter the country for a six-month period, multiple entries, to apply for the long-term visa requirements.
Entrepreneurs:
The Decree further included the provisions of the facilitations granted to entrepreneurs that includes two categories: having a previous project with a minimum of AED 500,000, or having the approval of an accredited business incubator in the country.
Entrepreneurs will be granted a 5-year visa with a possibility for upgrading to an investor’s visa provided they meet the category requirements.
The benefits of the entrepreneurial visa include entrepreneurs, partners, three executive directors, spouse, and children. The entrepreneur is allowed entry into the country for six months, multi-entry visa period, with renewal for another six months.
Specialized Talents:
The Decree 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.
All categories are required to have a valid employment contract in a specialized in fields of priority for the UAE, and the conditions for each category are defined as follows:
Doctors and specialists are required to meet at least 2 of the following conditions:
- Holder of a PhD degree from one of the top 500 universities in the world.
- Holder of an award or certificates of appreciation for the work in the applicant’s jurisdiction
- Contribution to a major scientific research related to the work of the applicant
- Published articles or scientific books in distinguished publications in the field of work of the applicant
- Membership in an organization related to the work of the applicant, which requires excellent work to accept membership.
- A PhD degree in addition to 10-year professional experience in the applicant’s field of work.
- Specialization in areas of priority to the UAE (additional requirement for the doctor): to be certified by Emirates Scientists Council or winners of Mohammed Bin Rashid medal for scientific excellence.
Creative individuals in culture and art:
Accredited by the Ministry of Culture and Knowledge Development.
Inventors:
Obtain a patent of value added to UAE’s economy with the approval of the Ministry of Economy.
Exceptional Talents:
Those who have exceptional talents that are documented by patents or scientific research published in world-class journals.
Information Source:
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