UAE investors and entrepreneurs demand long-term visas! The country’s Federal Authority for Identity and Citizenship says it has received 6,000 applications in the first week since its launch
By Sam Bridge / Arabian Business
The UAE's Federal Authority for Identity and Citizenship revealed on Wednesday that it has received about 6,000 applications from investors and entrepreneurs for long-term visas in the first week since its launch.
Last week, the ICA announced the activation of the links dedicated to the submission of applications for access to these facilities on its website.
It said three new services have been added - a six-month visa with several trips to complete the procedures for residency of an investor, issuing a 6-month visa with several trips to complete long-term residency procedures for both entrepreneurs and outstanding students, and issuing a 6-month visa with only one trip to complete the residency procedures for the talented individuals.
Major General Saeed Rakan Al Rashidi, director general of Foreigners Affairs and Ports, said that "great demand" has been witnessed in the initiative which aims to enhance the attractiveness of the UAE as an investment environment.
He said that the 6-month visa aims to provide those wishing to obtain long-term residency to visit the UAE and to identify the opportunities available in their field of interest.
He added that this type of visa is dedicated to investors and entrepreneurs from outside the UAE.
Applications must be supported with a proof of long-term residence eligibility - entrepreneurs, investors, individuals with exceptional talents and outstanding students - and a fee of AED300.
The move follows an announcement by the UAE Cabinet in March to approve the regulatory framework for the issuance of 10-year residence permits to investors, entrepreneurs and innovators.
The UAE government has granted the first batch of long-term visas to the winners and finalists of the Mohammed bin Rashid Medal for Scientific Distinction.
In November, the UAE Cabinet issued a decision to adopt a new long-term system of entry visas for investors and professional talents.
The system will grant investors and talents up to 10-year residency visas for specialists in medical, scientific, research and technical fields, as well as for all scientists and innovators, as well as five-year residency visas for students studying in the UAE, and 10-year visas for exceptional students.
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