The UAE Cabinet on Sunday, May 20, has adopted a new system allowing international investors, specialists, and top students to receive long-term visas valid for up to 10 years.
The system will grant investors and professionals up to 10-year residency visas for specialists in medical, scientific, research and technical fields, scientists and innovators, as well as five-year residency visas for students studying in the UAE, and 10-year visas for exceptional students, reported state news agency, WAM.
Chair of the Cabinet His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said the move was done to position UAE as a primary destination for top talents in the world.
“The UAE will remain a global incubator for exceptional talents and a permanent destination for international investors. Our open environment, tolerant values, infrastructure and flexible legislation are the best plan to attract global investment and exceptional talents in the UAE,” said His Highness Sheikh Mohammed bin Rashid Al Maktoum.
His Highness directed the Ministry of Economy in coordination with the concerned parties to implement the resolution and follow up on its developments, and to submit a detailed study in the third quarter of this year.
The new visa system will increase the chances of attracting investors to come to the UAE and thus increase the country’s economic competitiveness globally. The global investors’ ownership is expected to reach 100% by the end of the year.
The new decision will also review the current policies to extend the residency time for dependent students after completing their university studies. This will give them the opportunity to assess their practical options in the future.
