Media ININ Economy We Trust
Media In Abu Dhabi, November 24, 2018 (WAM)
The Council of Ministers approved the decision of investors, entrepreneurs, specialized talents and researchers in the fields of science, knowledge and outstanding students to facilitate business and create an attractive and encouraging investment environment for the growth and success of business for investors, businessmen and talented people.
The decision of the Council included ministers, months ago, granting investors ten-year residence visas for themselves and all members of their families, as well as granting residency visas of up to 10 years for specialized specialists in the fields of medical, scientific, research and technical, and all scientists and creators of the culture and arts to attract greater foreign investment, Making it more efficient, attractive and developing competitiveness to consolidate the UAE’s position on the global stage.
The decision includes the terms and conditions of obtaining long-term visas for both investors and entrepreneurs to attract competencies in all vital sectors of the national economy. It also includes husband, wife and children to ensure a cohesive family, social and stimulating environment for business and innovation. The decisions include details, conditions and benefits for each category including Ensures smooth application of resolutions.
Investors:
The decision includes provisions for facilities granted to investors from inside and outside the country and sets two classes for investors: Investor in a property with a total value of not less than 5 million dirhams, and be granted a five-year residence, investor in public investments through a deposit or establishment of a company or be a partner With an investment value of not less than 10 million dirhams or with a total investment of not less than 10 million dirhams in all the mentioned fields. The investment in non-real estate shall not be less than 60% of the total investment.
The decision sets out general controls for the two classes: The amount invested is wholly owned by the investor and not a loan and provides proof of that. The requirement to keep the investment for at least 3 years. The financial investor’s liability is not burdened with claims of impairment of AED 10 million. Visa for investors and partners provided that each partner contributes AED 10 million, spouse, wife and children, and includes one executive director and one consultant. The decision allows investors to enter the country for a period of six months.
Entrepreneurs :
The decision also includes the terms of the granted facilities and sets two categories for the first entrepreneurs: Having a previous and successful project of a minimum of 500 thousand dirhams or having the approval of an accredited business incubator in the country. Entrepreneurs are granted a 5 year visa with eligibility for permanent residence For investors in the event that the conditions of the investor category are met.
The benefits of the Entrepreneurial Visa include entrepreneurs, partners, three executive managers, husband, wife and children of the above. The entrepreneur is allowed entry into the country for a six-month multi-entry visa period with a renewal period of six months.
