Legal Consultants in Dubai have shed some light on the recent update or regulation passed by the UAE Cabinet which will be implemented on 03 February 2019 allowing residents to obtain long term visa. From this day onwards, Federal Authority for Identity and Citizenship will accept applications for issuing long term visa without a sponsor for some categories of residents that is investors, business owners, and people with special talents in the field of science and academics and extraordinary students.
This is in accordance with Cabinet Resolution Number 56 of 2018 which was published in late 2018. The Cabinet Resolutions sets out a criterion under which the residents can apply for long term visa which will be discussed by Lawyers in Dubai in this article.
The objective behind the Resolution is to encourage investment within the country and to main UAE standard in the global market as an investment-oriented environment.
The Resolution has categorized the long term visas for entrepreneurs into two categories as follows:
- An existing project not less than AED 500,000 worth;
- They possess an approval for business within UAE.
Investors in Property in UAE
Investors in UAE can now renew visa under two categories mentioned below:
- If the investor invest in a property worth AED 5,000,000, he may seek a visa for 5 years;
- If the investor invests in any business of AED 10 Million or more, subjected that they do not 40% more of the investment, they will be granted the 10-year visa.
However, this visa attracts few conditions as follows:
- It should be a debt-free investment solely owned by the investor;
- The investment shall be at least for 3 years;
- The investor will have access to multiples entry for 6 months to apply for a long-term visa;
- The immediate family member will also be given a visa.
Individual with Special Talent
Researchers in the field of science, academics, medical science, specialists, inventors, scientists and alike individual can apply for a long-term visa.
Nevertheless, these individuals must have a valid employment visa in that specific field in the Country. In addition, this criteria has certain conditions to be fulfilled as followed:
- The scholar has published article or scientific books within his field of work;
- PhD holder from the top 500 universities of the world;
- PhD Holder with 10 years of experience in his field;
- A member of the exclusive organization;
- Award holder within the field of work;
- Accredited scientists from Emirates Scientists Council;
- Has given a significant contribution to his field of work;
- Specialized doctors;
- Awardee of Mohamed Bin Rashid Medal for Scientific Achievement;
- Patent holder from the Ministry of Economy for special Talent;
- Owner of a leading international company or university.
Students with exceptional grades are eligible for 5 years visa. Such students must obtain at least 95% in secondary public and private schools or 3.75 GPA in graduation from a national or international university. The visa may also be offered to the family members of the student.
Given the complexities and prerequisites which must be considered prior to applying for Long-term visa, Legal Consultants in Dubai suggest you seek the assistance of lawyers in order to smoothen the procedure.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.