UNITED ARAB EMIRATES – New Long-Term Visas [Updated 6/2/2019]
The UAE has announced that it will officially begin accepting applications for long-term residence visas for investors, entrepreneurs and key professionals from 3 February 2019.
However, as of 6 February 2019, the UAE authorities have not released further information in relation to long-term visas, and the new categories are still unavailable on their systems.
In November 2018, the UAE cabinet approved new long-term residence visas, and announced further details of the qualifying requirements. Under the previous rules, residence visas were only valid for up to three years.
Who will qualify?
- A ten-year visa is available for specialists in science and knowledge subject to certain conditions.
- The eligible categories include: doctors, specialists, scientists, exceptional talents, executives and educational specialists. There are specific conditions to be fulfilled by each of these categories to qualify.
- Executives may be granted this visa is they have a minimum bachelor’s degree, have a minimum professional experience of five years, earn a minimum salary of AED 30K, have a valid employment contract in the UAE and health insurance.
- A multi-entry visa with a validity of six months will be issued to these categories of applicants to facilitate the completion of all immigration procedures in the UAE.
- Dependent family members may also be eligible for a long-term visa.
- Investors in a property worth at least AED 5 million can obtain a five-year visa;
- Investors in public investments (not property) through a deposit, an established company a business partnership of at least AED 10 million or a total deposit of at least AED 10 million can obtain a ten-year visa.
- The amount invested must be wholly owned by the investor (not a loan) and invested for at least three years.
- Dependents of the investor, as well as one executive director and one adviser, are also eligible for a long-term visa.
- Investors can enter the country multiple times over a six-month period to apply for the long-term visa.
- A five-year multiple-entry visa will be available for entrepreneurs either having a previous project of at least AED 500,000 or the approval of an accredited UAE business incubator.
- An upgrade to an investor visa may be possible. Dependents, a business partner and three executive directors are also eligible for long-term visas.