Changes in the UAE Visa System is One Its Way
On the 20th of May 2018, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai chaired a cabinet meeting that discussed important things which solely focused on the visa system of the country.
Afterward, an announcement was released by His Highness Sheikh MohammAfterwardhid Al Maktoum himself. This is expected to have the number of investors to come to the UAE to increase even more as the new visa system caters to professionals and investors, including the students as well.
With this new change, the economic competitiveness of the UAE will stay in its continuous path in soaring globally with changes that pave the way in order to help not just the country but its residents as well.
The changes that were discussed at the cabinet meeting and released to the public are going to be implemented by the end of the year 2018, welcoming 2019 with a fresh start and new beginnings.
What is a Residency Visa?
Visa is basically the key to enter and even stay in the United Arab Emirates (UAE). There are different kinds of visa that can be obtained in the country: tourist visa, employment visa, student visa, residence visa, etc.
A residency visa ensures that you get to stay longer than three months (which is the case for visit visas). A residence visa is one of the first things that should be obtained by anyone who wishes to stay in the UAE and conduct a business.
Alterations with the Residency Visas
The government hopes for the UAE to continue in its goal to be a competitive country with a rising economy. It is also its goal to be a home to international brilliant talents that can be a factor for investors to come in see the good investment that can be found in the UAE because of the business opportunities found in here.
The environment that the UAE has been developing is an open one that invites people to come over and see beyond infrastructures, architecture, and such. UAE is full of tolerant values with legal frameworks that investors would see as a benefit to them.
The government has, therefore, decided to make some changes in the UAE visa system. It is expected to bring in more investors and encourage professionals to find their new home in the UAE.
10-year Residency Visa for Professionals
With the implementation that will happen by the end of 2018, professional workers (such as those who are specializing in the field of science, medicine, research and technical fields) will be given the entitlement of getting a visa that will last for up to 10 years. This means that engineers, doctors, and other professionals, along with their families, are eligible to have this kind of visa.
Investors are also given the chance to avail this long-term-stay visa. There is also a possibility for expats to have 100% foreign ownership of their business instead of having to look for a local sponsor.
Residency visa for Students
The changes in the visa system of the UAE do not only benefit the investors and professionals but also students as well who are studying in the UAE. They are given the opportunity to not simply have a one-year visa, which they would need to renew every year, but to have a five- or ten-year visa extension.
The advantages are they can save up when it comes to their financial side, and they will have the chance to look for a job before their visa expires.
The information that is released is that students in UAE can get a five-year residency visa, and other students who are considered to be exceptional ones are given the chance to get a 10-year visa.
If you are looking to process your residency visa as an investor, professional individual, or even a student in the UAE, we can extend our hand to you to help you with this process.
FAR Consultants is one of the leading business setup consultants in UAE and one of the top firms that offer PRO services in Dubai, UAE. With our experience that spans for more than 30 years, we can handle any situation that you are in and provide the best solution that you should take.
Our team will ensure that the data and information that you receive are all updated as we are on the loop with the new updates in the laws or rules and regulations. We can provide the answers to your questions whenever and wherever you need them.
You can contact us today and book a consultation with us so one of our consultants will face you and discuss with you your concerns.