The United Arab Emirates has a plan to issue long-term residency visas ranging up to ten years to international investors as well as exceptional talents. This measure has been approved by the Cabinet and benefits the professionals and students also. This decision is an extension of the position that the country is a favorite destination for several international investors and top global talents.
The UAE will continue to be a global incubator to attract outstanding talents. Moreover it is the choicest destination for international investors. The Prime Minister said that the reasons were an open environment, great infrastructure, tolerant values, and flexible legislation. These collectively help in attracting investment and talents.
Directions in this matter were issued to the Ministry of Economy to implement the resolution and follow it up in coordination with all the parties concerned. They also have to to submit a detailed study in the third quarter of 2018. This system will not only attract more investors and competencies, but also increase the global economic competitiveness of the country. The ownership of global investors is likely to reach 100 per cent by December 2018. It will grant such investors, scientists and innovators ten year residency visas for becoming specialists in scientific, medical, research and technical spheres.
Moreover, students who study in the UAE can get Five-year residency visas. It will be 10-year visa for brilliant students. This decision also reviews the present residency system to extend the time of residency for the dependent students after completion of their university studies. It will provide an opportunity to study in their preferred option in the future.