Categories are entitled to apply for a 5 Year Residence VISA in the UAE.
As the UAE creates an environment that is more and more welcoming to foreigners and expats, it has given a boost to the economy of the country with the introduction of the 5-year Residency Visa. This visa rule will give people across the world the pathway to a long-term investment in the region, while giving the opportunity to retiring expats already invested in the UAE, a chance at staying on longer. The Residency Visa will also let students and young professionals invest in the UAE by starting a business or by creating employment prospects for themselves.
The 5-year Residency Visa has significant benefits for retirees looking to extend their stay and take advantage of the real estate market. Property investment is one of the biggest effects to come out of this visa rule because of financial benefits of owning property in one of the most lucrative real estate markets in the world. Property investment is a bigger financial significance than having an accumulated savings account.
While this move will certainly see older professionals and investors take advantage of home loans with longer tenures, students and young professionals themselves can invest in property in the UAE by taking out loans with longer tenures.
Dubai Residency plays an important role in the 5-year Residency Visa plan. We assure our clients that we have the necessary local knowledge to ensure your investor visa is processed by providing the quickest service. We are dedicated to delivering outstanding customer service through every step of the visa process. As a leading investment advisory and consultancy service we provide complete visa solutions for businesses, entrepreneurs, students, young professionals and investors. We have an exceptional team made up of investment consultants with the right experience and expertise who are available at your service. We want to take away the hassle and headache of sorting out your own investor visa and let us take over the entire responsibility. Our #1 priority is to ensure you receive the right visa solution and our team of skilled visa experts will navigate the process with you step by step. We want you to focus completely on your business growth, expansion and success that Dubai has to offer, while we do the hard work for you.
1. Investors in a property in the UAE
Conditions:
Granting a visa is subject to the following conditions:
The investor must invest in a property of a gross value of not less than AED 5 million. The amount invested in real estate must not be on loan basis. The property must be retained for at least three years.
2. Entrepreneurs
This category includes those having an existing project with a minimum capital of AED 500,000, or those who have the approval of an accredited business incubator in the country. The entrepreneur is allowed a multi-entry visa for six months, renewable for another six months. The long-term visa includes the spouse and children, a partner and three executives.
3. Outstanding Students
This includes: outstanding students with a minimum grade of 95 % in public and private secondary schools university students within and outside the country having a distinction GPA of at least 3.75 upon graduation. Long-term visa includes families of the outstanding students.
Source:
- Federal Authority for Identity and citizenship
- Emirates News Agency-WAM
- Reference: Cabinet Resolution No. 56 of 2018 Regarding the Organization of Residence Permits for Investors,
- Entrepreneurs and Professional Talent. (Check with Ministry of Justice in the UAE.)