10 Year Residency Visas for Investors and Specialists in UAE

Now investors in UAE can have 100% ownership of their companies. But the question arises - how? According to an announcement made by the Vice-President and Prime Minister of the UAE, Sheikh Mohammed bin Rashid Al Maktoum, specialists and investors, including engineers, doctors, and chartered accountants in UAE are soon going to receive the residency visas of UAE which will have the validity of up to 10 years. Also, their families will be receiving the similar validity for their visas as well. In the announcement, it was also mentioned that the students who have top performance in their universities will be also allowed to get residency visa scheme based on 10 years.

100% Ownership and Residency Visas

Sheikh Mohammed took Twitter to spread his word as he said that investors from all around the world can have a complete ownership of their organizations and companies in UAE and the system will allow high-performing students and investors to get 10-year residency visas, especially for technical, scientific, medical, and research fields. This system will also grant 5-year residency visas for the students who are currently studying in the UAE as well as 10-year visas for other extraordinary students. Also, the system aims to make UAE an ideal place for investors.

Sheikh Mohammed tweeted:

"The UAE will remain an incubator for innovators and a hub for investors."

Visa Extension ­to Ease Up Students Future

The decisions will be implemented by the end of the year as the Vice-President of the UAE has directed the bodies to do so. The existing residence visa scheme will be also reviewed by them in order to extend the visa validity duration of dependents including the families and especially students after they get their university studies completed so that they could easily start their future in UAE. This, at the same time, will also give them an opportunity to learn about their future practical options. However, UAE VAT registration will be a matter of concern for them.

In his tweet, Sheikh Mohammed said:

"Our open environment, tolerant values, infrastructure and flexible legislation constitute the best plan to attract global investments and exceptional talents. The UAE will remain a land of opportunities. It is the best environment to realize the dreams of humans and unleashes their exceptional potentialities."

What do business owners think about 10-year visa scheme in UAE?

The 10-year visa scheme is being hailed by many industry experts and business owners. According to the founder and chairman of Danube Group, Rizwan Sajan, this is a great move to build trust and confidence in the UAE, as he said:

"This (move) boosts the trust and confidence which we already have in the UAE. We are thankful to Sheikh Mohammed for this initiative, which will surely boost the economy."

Senior partner at Crowe Horwath, Atik Munshi said that this move is a fantastic development for attracting investments. He said:

"The 10-year visa is not only incredibly attractive but also has come at the right time when the UAE is looking to enhance its investor community. This will build up enormous confidence for the investors who want to make the UAE their home."

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