The UAE has introduced a six-month multiple-entry interim visa for non-UAE residents seeking long-term investment visa in the country.
Those eligible for the long-term visa and currently residing in the UAE can transfer their existing residency permits to investor visa if they fulfil conditions, the government announced on Wednesday.
Investors, experts and talented students who are eligible for the long term visa — ranging from five to ten years — under the Cabinet Decree No. (56) of 2018 can avail of the interim visa to “identify opportunities in their field and make appropriate decisions for them and families”, the Federal Authority for Identity and Citizenship said in a press statement.
The authority said it has activated three new services on its portal: a six-month visa with multiple entry to complete the procedures for residency of an investor, a six-month visa with multiple entry to complete long-term residency procedures for both entrepreneurs and outstanding students, and a six-month visa with a single entry to complete the residency procedures for the talented individuals. Residents can submit their applications on the ICA portal.
The authority revealed that it received about 6,000 applications from investors and entrepreneurs for the long-term visa during the first week of its announcement itself.
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