It was announced earlier in the year and now more details have been released
25 November 2018| Last updated on 25 November 2018
UAE expats were elated earlier in the year
When the UAE Cabinet announced the approval of a 10-year visa for expats to apply to in the UAE.
It announced that some expats in the country will be able to apply and received a 10-year visa if the criteria of their applications are met.
At the top of the lists were investors, entrepreneurs, medical specialists, scientists, researchers and outstanding students – and the reason behind this was to create an attractive environment for future investment in the UAE.
We also reported the 10-year visa was also applicable via the following:
- Expats must obtain a five-year retirement plan and will be accepted if they meet a series of requirements.
- Expats must either: have properties worth AED2 million, savings of AED1 million or an active income of more than AED20,000 per month.
- Expats must also have a valid health insurance policy – as they will not benefit from national retirements given by the UAE government.
And now more details have been released about this long-term visa:
The long-term visa can be applicable to two types of investors in the UAE:
- 1. For investors that have a property of AED5 million and more – will receive a 5 year visa
- 2. For investors that are making public investments – will receive a 10 year visa
By public investments – it can be through a deposit, a company/business, a partnership worth AED10 million or more, a total investment of not less than AED10 million in all areas (with real estate not less than 60% of total investment.)
If you are an expat living in the UAE and are applicable, these are the requirements that you must adhere to:
- The investment money must not be loaned
- The investment retention must be for atleast 3 years
- The investment must have a financial solvency of less than AED10 million.
The long term visa can be applicable to two types of entrepreneurs in the UAE:
- 1. Entrepreneurs that have a previous project of AED500,000 minimum
- 2. Entrepreneurs that have an accredited business incubator approval in the UAE
Those who check those two types will be granted a 5-year visa.
For specialists and researchers
The long term visa can be applicable to different types of specialists and researchers in the UAE:
Doctors, specialists, scientists, investors, researchers and artists can be granted a 10 year residency visa if:
- 1. Expat has a PhD degree in one of 500 top universities
- 2. Expat has an award or certificate of appreciation in field
- 3. Expat has contributed to major scientific research in field
- 4. Expat has published articles or scientific journals in distinguished publications in field
- 5. Expat is a member in an organization in field with excellent published work
- 6. Expat has a PhD degree and 10 year professional experience in field
- 7. Specialists in areas of priority in the UAE
- 8. Scientists who are accredited by the Emirates Scientists Council
- 9. Holders of the Mohammed bin Rashid Medal for Scientific Excellence
And artists must be accredited by the Ministry of Culture and Knowledge Development.
For outstanding students
The long-term visa can be applied to outstanding students in the UAE if:
The student has a distinction of at least GPA3.75 upon graduation from universities in the UAE and abroad.
If applicable, the student and extended family members will receive a 5-year residency visa.