UAE launches the 5-year Entrepreneur Visa

The UAE has announced a 5-year Residence Visa for Entrepreneurs. This Visa is aimed at enhancing the ease of conducting business in the country.

 

The Federal Authority for Identity and Citizenship has been charged with issuing the Residence Visas. The Dubai Future Foundation’s Area 2071 in Dubai and HUB71 in Abu Dhabi will be nominating entrepreneurs for this Visa.

 

To be eligible to apply for this Visa, you should already have a running business. The business should be worth at least Dh 500,000 or your business should have been approved by an accredited business incubator in UAE. You will also be required to obtain insurance for yourself and your family for the entire Residency period.

 

The 5-year Visa can also be granted to 3 Exec. Directors who work for the Entrepreneur, as per the FAIC. However, these Directors should be working exclusively for the Entrepreneur during this Visa term.

 

Entrepreneurs will also be eligible for a 6-month multiple entry Visa. This is to support them to complete the formalities of setting up their business in the UAE, as per The Khaleej Times.

 

The UAE Cabinet has approved the long-term Visa for entrepreneurs, investors, specialized talents and meritorious students.

 

Below are the conditions and categories:

Entrepreneurs

• Eligible entrepreneurs who have a former business worth at least Dh 500,000 or the approval of an accredited business incubator can apply for this Visa
• Entrepreneurs who meet the requirements can also upgrade to an Investor’s Visa

Investors

• Investors who invest in a property worth at least Dh 5 million are eligible for a 5-year Visa
• A 10-year Renewable Visa will be available to investors who:
• Invest in public investments via a deposit
• Invest in an established company or business partnership worth at least Dh 10 million
• The amount being invested should belong wholly to the investor. Loaned amounts are not accepted.
• The retention period of the investment should be a minimum of 3 years

Specialized Talents

• Doctors, Scientists, Inventors who meet certain conditions would be eligible for a 10-year Visa
• Creative individuals in the fields of art and culture would also be eligible for a 10-year Visa
• A valid offer of employment in their respective fields in the UAE is mandatory for all categories

Meritorious Students

• Outstanding students scoring a minimum of 95% in secondary school and a GPA of at least 3.75 during graduation will be eligible for a 5 –year Visa. The students may have completed their Graduation from the UAE or abroad.

Y-Axis offers a wide range of visa and immigration services as well as products to aspiring overseas immigrants including, Y-International Resume (Senior Level) 5+ yrs, Y Jobs Premium Membership, Resume Marketing Services One State and One Country,  Y-Path – Y-Path for Licensed Professionals, Y-Path for Students & Freshers,  and Y-Path for Working Professionals and Job Seeker.

 

If you are looking to Study, Work, Visit, Invest, Travel or Migrate to UAE, talk to Y-Axis, the World’s No.1 Immigration & Visa Company.

If you found this blog engaging, you may also like…

New passport policy for Indian immigrants in the UAE