The Federal Authority for Identity and Citizenship (FAIC) on Saturday, July 21, has approved the resolution of the UAE Cabinet to extend residency visa of investors, professionals, and exceptional students to 10 years.
The resolution, submitted in May, seeks to grant investors and professionals up to 10-year residency visas for specialists in medical, scientific, research and technical fields, scientists and innovators.
The resolution also covers five-year residency visas for students studying in the UAE, and 10-year visas for exceptional students.
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.
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.
