In 2019, pursuant to Cabinet Resolution No. 56 of 2018 on Regulating the Residence Permits for Investors, Entrepreneurs, and Specialised Talents, the UAE introduced new long-term residency visa categories (10 year visa or 5 year visa).
One such category includes investors in public investments for an amount of AED 10 million or more, whereby such investors will eligible for the 10 year visa without a sponsor.
In this article, we will consider the criteria which applicants must comply with in order to apply for this Visa.
Criteria for Eligibility
The said investment can be made in one or more of the following manners:
- An investment of no less than AED 10 million in a UAE public investment fund.
- By setting up a company or entity within the UAE with startup capital to the minimum value of AED 10 million.
- Partnering with a new or existing venture by contributing at least AED 10 million to the venture’s share capital.
- An aggregate investment amounting to no less than AED 10 million in all the above-mentioned areas.
However, any of the investments made in the above-mentioned areas are subject to the conditions that the non-real estate portion of the investment may not be less than 60% of the total investment, it may not be the subject of a loan and must be retained for at least 3 years.
Furthermore, the Visa’s holder may sponsor their spouse, children, one director, and one advisor.
Lastly, the Visa may be extended to the business partners of the holder, provided that such business partners also make the necessary contribution of AED 10 million.
Term of the Visa
As mentioned previously, the Visa is renewable every 10 years, on the proviso that the holder continues to meet the prescribed requirements.
International investors traveling from abroad may also apply for a multiple-entry permit for a period of up to 6 months.