The UAE is known for its strict visa policies. Before 2019, the country offered only two types of residency visa options. Based on the investment value, UAE offered a 6-month multiple entry visa and a 2-year residential visa. However, in an effort to further boost its economy and bring in the best and brightest minds, the UAE has revised the terms of its residency program. They are now allowing promising investors and skilled professionals to apply for a 5 or 10-year visa, encouraging them to be part of the next growth phase of the nation and making UAE their primary or secondary residence.
These statistics clearly show that the UAE is not only a thriving economy with great potential but is also open to welcoming people; people who are looking to pursue their dreams and enhance their standard of living.
If you fall into one of the categories above or want to learn how you can qualify for a UAE residence visa, read on to understand the new rules, eligibility criteria, and the impact of the new residency program in the UAE.
UAE Long-term Visa: Who’s Eligible for the 10-year Residency Visa Permit?
Recently, the Ruler of Dubai, Vice President and Prime Minister of the UAE, H.H. Sheikh Mohammed Bin Rashid Al Maktoum, launched long term residency programs, namely, a 5-year residency program and a 10-year residency visa program, also known as the Golden Card. As of May 1, 2019, six categories of people qualify for the long-term residency program in the UAE:
UAE Long-term Visa: Who’s Eligible for the 5-year Residency Visa Permit?
Apart from the 5 and 10-year long term visa programs, the UAE government has also introduced two new visa reforms recently, namely;
● Remote Work Visa
● Multiple-entry Tourist Visa
What Does it Mean for Investors?
In a Nutshell By introducing the Long-term Residency Programs, the UAE has not only taken a huge leap towards greater investment opportunities but also opened doors to people striving to call the Emirates their home.
The launch of the citizenship program from the UAE has also led to a series of foreigner-friendly reforms, like legalising cohabitation, allowing alcohol purchase without a license, and permitting 100% foreign business ownership, allowing the Emirates to become a major trading and business hub.
If you are an investor, an entrepreneur, a professional, or a retiree, looking to settle down in the UAE – one of the world’s safest places to live in, you should consider a long-term residency investment.
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