Announced in June, the new visa system for investors and professionals interested in moving to the UAE is about to be implemented, as the Federal Authority for Identity and Citizenship (FAIC) has approved the plan. The new system provides for 10-year visas for investors and qualified workers seeking to relocate to Dubai or any of the other emirates. Our company formation agents in Dubai can offer information on the other ways foreign investors can move to the UAE.
Foreign investors are very important for the UAE economy, however, without the proper support of talented employees, they will face difficulties when opening companies in Dubai, which is what the new visa system plans on avoiding. It will also put the UAE on the map of large foreign investors and talented professionals around the world. Both categories of individuals will be able to apply for 10-year visas which will allow them to develop their activities, respectively to improve their talents in the UAE.
Another long-awaited news is the possibility of foreign investors fully owning UAE-based businesses.
Our company registration advisors in Dubai can provide foreign entrepreneurs with assistance in setting up new companies in the emirate.
There are four categories of individuals who will be able to apply for 10-year visas for the UAE. These are:
In the case of students, 5-year visas will be issued, however, exceptional students will be allowed to apply for 10-year visas just like foreign professionals. Certain residency extensions will be available for foreign students sponsored by their parents, in order for them to start working after they finished school. This way the government wants to make sure the talent pool investors can choose is always fresh.
The new decisions should be implemented by the end of the year. In the meantime, please feel free to contact us if you are interested in opening a company in Dubai and you need assistance with the registration procedure.