Significant changes made to UAE’s visa system by Sheikh Mohammad
UAE is one of those countries which had strict visa policies. Recently Sheikh Mohammad has announced new policies and made some major changes to the Visa System in the UAE. According to the new residency system, the workers can now get the visa up to 10 years.
This change is also good for Doctors, Engineers and students who only got a visa for a small period, now they can get ten years visa. The professionals and their families also will be eligible for a longer stay in the UAE. Another major change in the residency rules is the 100% ownership of a company based in Emirates. At present, a foreigner cannot own a company without a local partner who owns 51% of the company. It is a huge change and very good news for those who want to start a business in Emirates. Various departments have been ordered to implement these changes by the end of 2018.
All these changes were made official by Vice President and Prime Minister and Ruler of Dubai, Sheikh Mohammad in a Cabinet meeting on Sunday. It is good news for international investors. The purpose of this change is also to attract new prospects and investors in the UAE.
He said chairing the Cabinet:
The UAE will remain a global incubator for exceptional talents and a permanent destination for international investors. Open environment, tolerant values, infrastructure and flexible legislation are the best plan to attract global investment and exceptional talents to the UAE
The purpose of the visa flexibility is to bring a boost to the economy of the UAE. It will attract more expats and investors from across the globe that did not invest or come to the country because of visa or residency restrictions.