UAE Changes Visa Policy

UAE Changes Visa Policy

UAE Changes Visa Policy: The United Arab Emirates (UAE) announced decisions regarding Visa Policy that included the provision of residency visas of up to 10 years for investors and professionals and their families in addition to exceptional students.

While Abu Dhabi and especially Dubai have thrived on tourism, financial services and as airline hubs, the U.A.E. government is turning to science and technology to ensure the country can keep growing. The growth rate in the economy has slowed to levels last seen in 2010 and the real estate market has a glut of empty apartment blocks.

UAE Changes Visa Policy
UAE Changes Visa Policy

 Launch of Integrated Visa System

According to WAM, the cabinet announced the launch of an integrated visa system to attract talent in all vital sectors of the national economy.

  • The new visa system will grant investors and talents up to 10 year residency visas for specialists in medical, scientific, research and technical fields, as well as for all scientists and innovators as well as five-year residency visas for students studying in the UAE, and 10-year visas for exceptional students, the UAE official news agency revealed.
  • It also announced changes in the system of foreign ownership of companies in the country, which allows the acquisition of 100 percent by global investors by the end of the year.
  • Sheikh Mohammed bin Rashid Al Maktoum directed the economy minister to implement the resolution and submit a study following up its impact in the third quarter of this year.
  • The UAE Cabinet approved the new rules, under current laws, foreign companies must have an Emirati owning 51% of the shares, unless the company operates in a free zone. Major brands Apple and Tesla are believed to be exceptions to the rule.
  • According to the existing laws, foreigners generally cannot own more than 49% of any UAE firm unless it is incorporated in a special “free zone”.
UAE Changes Visa Policy
UAE Changes Visa Policy

UAE Officials In Meeting

The UAE cabinet, chaired by Vice President of UAE, Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum, approved the decision held at the Presidential Palace in Abu Dhabi. The meeting was attended by Deputy Prime Minister and Minister of Interior Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs Sheikh Mansour Bin Zayed Al Nahyan along with other ministers.

For More Information & Videos Subscribe To Our YouTube Channel

Read More News & Articles

Leave a Reply


Notice: ob_end_flush(): failed to send buffer of zlib output compression (0) in /home3/humsubtv/public_html/wp-includes/functions.php on line 5275

Notice: ob_end_flush(): failed to send buffer of zlib output compression (0) in /home3/humsubtv/public_html/wp-content/plugins/really-simple-ssl/class-mixed-content-fixer.php on line 110