In a Cabinet meeting chaired by Shaikh Mohammad at the Presidential Place in Abu Dhabi on Sunday, the UAE government made the following major announcements including the 10 Year Visa Policy:
- 10 Year residency visa for investors, specialists in medical, scientific, research and technical fields, as well as for all scientists and innovators
- 10 Year visa for exceptional students and 5 Year visas for students studying in the UAE
- 100% global investors’ ownership of UAE-based businesses
Further details on these decisions will be released in the next few days and will provide clarity on the matters. This news has already created a buzz in the market and has been welcomed by investors (foreign and local) and residents of the UAE. The decision will make UAE a more long-term prospect for most of the people working, studying or living here and would make it easy for them to invest in the UAE specially because of the 10 Year Visa
In the words of H.H. Sheikh Mohammad Bin Rashid Al Maktoum, “The UAE will remain a global incubator for exceptional talents and a permanent destination for international investors. Our open environment, tolerant values, infrastructure and flexible legislation are the best plan to attract global investment and exceptional talents to the UAE.”
Besides the above, the cabinet has also made decisions which will increase the overall attraction of investing and living in the UAE. These steps will further encourage new investors to set up businesses in the UAE and stabilize the property market which has been on the decline since the last few years.
How would this effect you? Please email us on email@example.com so we can guide you on how this move would be beneficial in your particular case.