Awatif Mohammad Shoqi Advocates & Legal Consultancy | View firm profile
Legal Consultants in Dubai have shed some light on the recent update or regulation passed by the UAE Cabinet which will be implemented on 03 February 2019 allowing residents to obtain long term visa.
From this day
onwards, Federal Authority for Identity and Citizenship will accept
applications for issuing long term visa without a sponsor for some categories of residents that is investors,
business owners, and people with special talents in the field of science and academics and extraordinary students. This is
in accordance with Cabinet Resolution Number 56 of 2018 which was published in
late 2018. The Cabinet Resolutions sets out a criterion under which the
residents can apply for long term visa which will be discussed by Lawyers in Dubai
in this article. The objective behind the Resolution is to encourage investment
within the country and to main UAE standard in the global market as an investment-oriented
environment.
Entrepreneurs
The Resolution has categorized the
long term visas for entrepreneurs into two categories as follows:
a An existing
project not less than AED 500,000 worth;
b They possess an
approval for business within UAE.
The visa will allow the entrepreneur to enter
the country multiple times for 6 months and which can be renewed regularly. The
visa will also be given to the immediate family member of the entrepreneur or
the partner and three executives.
Investors in Property in UAE
Investors in UAE can now renew visa
under two categories mentioned below:
a If the investor
invest in a property worth AED 5,000,000, he may seek a visa for 5 years;
b If the investor invests in any business of AED 10 Million or
more, subjected that they do not 40% more of the investment, they will be
granted the 10-year visa.
However, this visa attracts few conditions as follows:
a It should be a
debt-free investment solely owned by the investor;
b The investment
shall be at least for 3 years;
c The investor
will have access to multiples entry for 6 months to apply for a long-term visa;
d The immediate
family member will also be given a visa.
Individual with Special Talent
Researchers in the field of science,
academics, medical science, specialists, inventors, scientists and alike
individual can apply for a long-term
visa. Nevertheless, these individuals must have a valid employment visa in that
specific field in the Country. In addition, this criteria has certain
conditions to be fulfilled as followed:
·
The scholar has published article or scientific books
within his field of work;
·
PhDholder from the top
500 universities of the world;
·
PhD Holder with 10 years of
experience in his field;
·
A member of the exclusive
organization;
·
Award holder within the field of work;
·
Accredited scientists from Emirates Scientists
Council;
·
Has given a significant
contribution to his field of work;
·
Specialized doctors;
·
Awardee of Mohamed Bin Rashid Medal for Scientific
Achievement;
·
Patent holder from the Ministry
of Economy for special Talent;
·
Owner of a leading international company or university.
Extraordinary Students
Students with exceptional grades are
eligible for 5 years visa. Such students must obtain at least 95% in secondary
public and private schools or 3.75 GPA in graduation from a national or
international university. The visa may also be offered to the family members of
the student.
Given the complexities and
prerequisites which must be considered prior to applying for Long-term visa,
Legal Consultants in Dubai suggest you seek the assistance
of lawyers in order to smoothen the procedure.