UAE has an impressive transparent legislative and regulatory framework with an investment friendly economy and persistently evolves to offer dynamic options for the professionals. The UAE government has integrated investor friendly measures by choosing to grant a 10 year visa to investors/professionals and provide a 100% ownership to UAE based foreign companies.
The new rule was approved by His Highness Sheikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai. Sheikh Mohammad stated that “Our open environment, tolerant values, state-of-the-art infrastructure, and flexible legislation are the best plan to attract international investment and exceptional talents. The UAE will remain the land of opportunity, the best environment for realizing human dreams and unleashing their extraordinary potential”
Highlights of the 10 year Visa and Other New Initiatives
- As per the new visa system there will be a 10 year visa offered to investors and professionals such as doctors, creative people, engineers, scientist, along with their family. The new visa system also favors students, those students studying in UAE will be granted a 5 year visa and exceptionally performing students are given a 10 year visa. The students who are sponsored by their parents; their visa will have an extending visa permit even after their university is over; this is to facilitate their future in UAE.
- The Cabinet has also made decisions to offer a 100 percent ownership of UAE based enterprises and for international investors.
- The cabinet has also adopted a novel UAE sign language Dictionary which will be in the UAE dialect; this will be a unified reference language for people with hearing disabilities in UAE.
- A new set of regulations will be chosen for Haj/Umrah, the new initiatives will speed up and ease the Haj Permits and permit granting regulations.
- A school calendar for the next three years (2018-2021) is planned out by the cabinet for all levels of education in order to sustain result oriented and accurate view of the school calendar.
- UAE Committee for the Coordination of Foreign Humanitarian Assistance will be restructured in order to offer an extreme sufficient aid and in an organized manner to all international humanitarian crisis and adversities.
More ambitious plans will be implemented and potential investors and talented youth will be given a sound environment to grow and flourish.
Share with us your Insight!
How well do you think the 10 year visa rule will boost the investor interest?