UAE has announced a new Residency Visa system. It offers long-term Visa to Overseas Immigrants that fall under the following categories –
- Specialized talents
- Outstanding students
The Visa would let stay in UAE for 10 years. It includes their spouses and children as well. The decision was made to encourage Overseas Immigrants to migrate to UAE. As quoted by Khaleej Times, UAE wants to grow its business for investors, entrepreneurs and skilled workers.
Let’s have a look at the different categories and criteria included in the new policy.
Two types of investors can benefit from this policy.
- Overseas Immigrants who own a property worth Dh5 million or more will be granted Residency Visa for 5 years
- Investors investing in business partnership worth a minimum of Dh10 million will receive Residency Visa for 10 years
However, there are certain criteria which they would have to fulfill.
- The amount invested cannot be loaned
- Investment should be retained for at least three years
- The Residency Visa could be extended to include business partners provided they contribute Dh10 million
- The Visa Policy includes spouse and children as well
Entrepreneurs will be granted a 5-year Residency Visa. Also, they could, in future, upgrade to an investor’s visa. The policy, in this case, includes two categories –
- Overseas Immigrants having a previous business worth a minimum of Dh5 million
- Entrepreneurs should be given approval of an accredited business incubator in UAE
The Visa can be extended to include partners, spouse and children.
UAE offers 10-year Residency Visa for specialized talents in the fields of Science and Knowledge. The Visa is usually given to doctors, scientists, researchers and creative individuals in culture and art. However, they should have a valid employment contract in the country. The following criteria apply to the candidates.
- Scientists should hold Mohammed Bin Rashid Medal for Scientific Excellence
- People with exceptional talents should have their scientific research published in world-class journals
- Executives should be owners of well-known and internationally recognized companies
- Doctors need to hold a PhD degree from one of the top 500 universities
- Researchers must have contributed to a major scientific research
UAE offers 5-year Residency Visa to outstanding students if they meet below criteria –
- They must hold a grade of at least 95 percent in public or private secondary schools
- Graduates should possess a distinction of at least 3.75 GPA
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If you are looking to Study, Work, Visit, Invest or Migrate to the UAE, talk to Y-Axis, the World’s No.1 Immigration & Visa Company.
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