Abu Dhabi: The UAE on Wednesday announced a six-month multiple entry visa for investors, talented individuals and outstanding students so that they can “explore opportunities” and “review facilities” for long-term residency in the country.
The Federal Authority for Identity and Citizenship announced three new services: a six-month visa with several trips to complete the procedures for residency of an investor, a six-month visa with several trips to complete long-term residency procedures for both entrepreneurs and outstanding students, a six-month visa with only one trip to complete the residency procedures for the talented individuals.
The ICA also revealed it received around 6,000 applications from investors and entrepreneurs in the first week of taking in applications for long-term residency visas.
The UAE recently allowed select categories of foreigners to apply for long-term visas for themselves and their families, including investors and entrepreneurs who meet certain conditions pursuant to Cabinet Decree No. 56 of 2018.
On Wednesday, ICA also announced the activation of the links dedicated to the submission of applications for access to these facilities (https://beta.echannels.moi.gov.ae/echannels/web/client/guest/index.html#/dashboard), which can be accessed through the public page without the need to create an account with a username and password.
Major General Saeed Rakan Al Rashidi, director-general of Foreigners Affairs and Ports at ICA, said there is great demand for these facilities, which contribute to enhancing the attractiveness of the UAE as an investment destination.
He added that investors and owners of capital are looking for ease of procedures, freedom of movement, stability for themselves and their families, to serve their interests and enable them to achieve their ambitions.
Al Rashidi said the six-month visa aims at providing those wishing to obtain long-term residency to visit the UAE and review the facilities provided in various fields.
The visa will help them identify opportunities available in their field of interest and allow them to study their options and take the most appropriate decision for themselves and their family members, he added.
Al Rashidi said ICA issues the holders of the six-month visa — whether for various trips or single trip — an Emirates ID Card to enable them to complete their procedures with ease, including direct licensing procedures, opening bank accounts, property registration and other transactions.
He added that the visa is dedicated for investors and entrepreneurs from outside the UAE, to attract investments and owners of leading companies with international expertise in vital sectors of the national economy.
Al Rashidi said those who meet the conditions of obtaining long-term residency in the various categories for UAE residents can apply through e-channels and through their accounts on the system, without the need to obtain a six-month entry visa.
So, at the time of their residency renewal, the transfer to the long-term residency system is requested according to the category to which the conditions apply.
Al Rashidi praised the attention paid by ICA to the long-term residency system through the close follow-up and direct supervision of Ali Mohammad Al Shamsi, chairman of the board of directors of ICA.
10-year investor residency visa
Investor residency visa for a period of 10 years, under which the applicant obtains a residency permit for 10 years without a sponsor in the UAE
Includes visas for his family members, wife and children
Possibility of sponsoring up to three domestic workers
Possibility of obtaining residency for one of his senior employees (adviser or executive director) for 10 years, along with their family members
Possibility of obtaining a multiple-entry visa for a period of six months, renewable for a similar period for the purpose of incorporation, provided that he has:
■ Deposit of minimum Dh10 million in an investment fund in the UAE
■ or ownership of a company in the UAE with a capital of minimum Dh10 million.
■ or standing as a partner in an existing or new company with a share of minimum Dh10 million.
■ or a total investment in the UAE not less than Dh10 million, provided that investment in non-real estate shall not be less than 60 per cent.
■ The amount shall be wholly owned and not a loan.
■ To keep the investment for at least three-years from the date of obtaining the residency.
■ A creditworthiness with minimum Dh10 million, in case of financial claims or civil judgements.
■ Inclusive health insurance document for him and his family members for the duration of the stay.
Five-year residency of an investor in real estate
■ Applicant obtains a residency permit for five years without sponsor within the UAE, as well as for his family members, wife and children, and the possibility of sponsoring up to three domestic workers
■ Must own one or more properties in the UAE with a total value of not less than Dh5million.
■ The property shall be wholly owned.
■ To keep the investment for at least three years from the date of obtaining the residency.
■ Inclusive health insurance document for him and his family members for the duration of the stay.
Five-year entrepreneur residency visa
■ Entitled to a five-year residency visa
■ Ability to be qualified for obtaining a 10-year investors visa, a five-year residency for three executive managers, a five-year residency visa for family members (husband/wife and children), five-year residency visa for three executive directors
■ Non-UAE residents have the opportunity to obtain a six-month visa for multiple trips, with a possibility of renewal for another six months, provided they have:
■ A previous and successful project worth a minimum Dh500,000.
■ Approval from a certified business incubator in the UAE
