New residency laws have been introduced to the UAE which make it possible for expats to obtain ten-year visas.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai made the announcement after chairing a cabinet meeting on Sunday. He revealed that the ten-year visa would be available to top professionals such as doctors and engineers as well as investors, star students and their families. Also, foreign companies will be able to own 100 percent stakes in businesses here, instead of the current system where they must have an Emirati partner who owns at least 51 percent. Professionals who can apply for up to ten-year residency visas include specialists in medical, scientific, research and technical fields, as well as scientists, innovators, entrepreneurs.
The move is at making life easier for foreign companies and expat workers in the UAE. And the changes should be in place around Autumn this year, making it easier for expats to put down roots in the country. Sheikh Mohammed tweeted: “The UAE will remain an incubator for innovators and a hub for investors. “Our open environment, tolerant values, infrastructure and flexible legislations constitute the best plan to attract global investments and exceptional talents. “The UAE will remain a land of opportunities. It is the best environment to realise the dreams of humans and unleash their exceptional potentialities.”
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