UAE residency visas to be extended to 10 years
It can be a bit of a pain having to renew your UAE residence visa every three years, and that's not just because of the lengthy queues. But news that they're about to be extended to ten years, for all nationalities, is music to our ears.
.@HHShkMohd chairs #UAE Cabinet meeting & announces decisions allowing 100% ownership of UAE-based enterprises for int’l investors, residency visas for up to 10 years for investors & professionals (doctors, engineers, etc.) and their families in addition to grade ‘A’ students. pic.twitter.com/KNLtHhPNdd— Dubai Media Office (@DXBMediaOffice) May 20, 2018
The announcement was made at a Cabinet meeting chaired by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai. The sweeping changes are expected to come into effect during the third-quarter of this 2018 and will apply to professionals like doctors, engineers and their families. Exceptional graduate students will also benefit from the changes so they have more time to find their career path in the UAE.
In addition to the UAE residence visa extension, it was also confirmed that all investors in the country, including ex-pats, can now own up to 100% of a company rather than the previous 49%.
"The UAE will remain a global incubator for exceptional talents and a permanent destination for international investors," said Sheikh Mohammed.
"Our open environment, tolerant values, infrastructure and flexible legislation are the best plan to attract global investment and exceptional talents to the UAE."
It's a move that will encourage even further investment in the region and become an attractive proposition to entrepreneurs and skilled professionals to make the UAE their home. It's a bold move, and one that means our trips to the immigration office will only come every decade. Brilliant.