DUBAI – The UAE on Wednesday (May 1) enforced a new rule on the issuance of five-year visas.
According to the Dubai Media Office, the move follows the directives of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai and is in line with a UAE Cabinet decision.
The five-year visa for exceptional students and entrepreneurs is part of the UAE Cabinet’s decision last year approving the long-term visa system that also includes a 10-year residency visa for investors and specialists.
Here are the kinds of long-term visas
Good for: Investors
How to qualify: Must Purchase of property worth at least Dh5 million that is not loaned
Good for: Outstanding students
How to qualify: At least 95 percent in secondary level and distinction of at least 3.75 GPA upon graduation from universities within and outside UAE
Good for: Entrepreneurs
How to qualify: Have previous project worth a minimum of Dh500,000 or having the approval of an accredited business incubator in UAE
Good for: Doctors, specialists, scientists, creative individuals in culture and art, and investors
How to qualify: Subject to certain conditions, including valid employment contract
Good for: investors
How to qualify: Have public investments through deposit, an established business partnership of Dh10 million or more, or a total investment of not less than Dh10 million. The amount must be wholly owned by the investor and not loaned, with investment retention for at least 3 years.
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