New long-term UAE visa system will improve confidence

The new visa rules would also courage more UAE residents to protect their family's financial future.

The UAE Cabinet's recent announcement of a long-term visa system, which includes 10-year residency visas for investors and specialists, and five-year visas for exceptional students, will inspire confidence in the country as a whole and turn it into a hub of innovation, experts say.
A Federal Cabinet decision this week has offered visas of up to 10 years for investors, entrepreneurs, and leading specialists and students focused on science, technology, medicine, and culture. In particular, foreign residents with wholly-owned property worth Dh5 million or more will qualify for a five-year visa, while those with a mix of property and business investments reaching Dh10 million or above can apply for a renewable 10-year visa.
Lewis Allsopp, CEO of Allsopp & Allsopp, noted that the long-term visas granted to individuals with such specialised talent and knowledge including doctors, scientists, and inventors will encourage more interest in the UAE.
"The talented individuals are now inspired to look at the UAE as a potential long-standing hub to embellish their career. The long-term visa adds security and value to particular careers and encourages individuals to develop within the UAE and in turn enhance the stability of the country's economy. Confidence in the country as a whole will improve as a result of growing the scientific community. The UAE will benefit hugely from the innovation, knowledge and expertise that talented specialists will bring."
Allsopp also said that the UAE will no longer be seen as a transitory move only to enhance a person's career, but also a move to enhance a person's lifestyle and future.
"As well as building up an individual, the long-term visas will improve the economy by encouraging more investment, more professionals and more families putting down roots in the UAE," he said. "Most expats have a money-making mindset when they move to Dubai with a short-term plan and goal before moving back to their home country. The UAE Cabinet's decision to enforce the long-term visa law, now allows expats to look at Dubai as a home rather than a temporary plan."
Similarly, officials at the DIFC Courts Wills Registry for Non-Muslims have welcomed the government's decision to issue long-term visas, and believe that it will encourage more UAE residents to protect their family's financial future.
"These latest measures are another step forward in the UAE's forward-thinking strategy of developing and retaining wealth and talent in the country. We welcome this commitment to residents and investors, which follows the decision earlier this year to offer retirement visas," said Tun Zaki Bin Azmi, chief justice at DIFC Courts.
The Wills Registry for Non-Muslims at the DIFC Courts expects to see a rise in will registration among non-Muslims, who now have the option of committing their future to the UAE. Residents and investors taking advantage of new long-term UAE visas have been urged to make firm plans for their family's financial future
- rohma@khaleejtimes.com

Rohma Sadaqat

rohma@khaleejtimes.com