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21 April 2024

UAE Cabinet approves new long-term visa for international investors


In line with UAE’s position as a primary destination for international investors and a global talents, the UAE Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has adopted a new system of entry visas for investors and professional talents providing them with a long-term visa for up to 10 years.

"The UAE will remain a global incubator for exceptional talents and a permanent destination for international investors. Our open environment, tolerant values, infrastructure and flexible legislation are the best plan to attract global investment and exceptional talents in the UAE," said His Highness Sheikh Mohammed bin Rashid Al Maktoum.

His Highness directed the Ministry of Economy in coordination with the concerned parties to implement the resolution and follow up on its developments, and to submit a detailed study in the third quarter of this year. The new visa system will increase the chances of attracting investors and competencies to the UAE and thus increase the country's economic competitiveness globally. The global investors' ownership is expected to reach 100% by the end of the year. The system will grant investors and talents up to 10-year residency visas for specialists in medical, scientific, research and technical fields, as well as for all scientists and innovators, as well as five-year residency visas for students studying in the UAE, and 10-year visas for exceptional students.

The new decision will also review the current residency system to extend the residency time for the dependent students after completing their university studies. This will give them the opportunity to study their practical options in the future.

On the other hand, the Cabinet adopted in its session the UAE Sign Language Dictionary, which is the first UAE-language reference dictionary for the UAE dialect, and a unified reference language people with hearing disabilities in the UAE.

The Emirati Sign Language Dictionary is in line with UAE Vision 2021 and the National Agenda in maintaining a cohesive society and promoting an inclusive environment that integrates all segments of society while preserving the UAE's unique culture and heritage. The guide will facilitate the exchange of knowledge between the members of society and those with hearing disabilities and harmony among them, and promote the linguistic identity of the Deaf community in the country and increase their pride in their homeland and their own language, derived from the local dialect.

The Cabinet adopted a resolution on the Hajj and Umrah system, which aims to develop the regulations and procedures in line with the approved electronic pathway program for pilgrims in Saudi Arabia, which includes Hajj permits and permit-granting regulations.

The Cabinet also adopted the Federal Law on Medical Assistance in Reproduction, which comes as a renewal of the current law in the same field. The new law expands its provisions to include new regulations in licensing medical centers.

On the other hand, the Cabinet adopted the school calendar for the next three years (2018-2021) for all levels of education in order to provide all parties involved in the educational process with a clear and accurate view of the school calendar.

The Cabinet also approved the restructuring of the Board of Trustees of the Emirates Diplomatic Academy under the chairmanship of H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation and Chairman of the Board of Trustees. The Board of Trustees also includes: Dr. Anwar bin Mohammed Gargash, Minister of State for Foreign Affairs, Dr. Sultan Al Jaber, Minister of State, Zaki Anwar Nusseibeh, Minister of State, Ali Mohamed Hammad Al Shamsi, Deputy Secretary General of the National Security Council, Omar Saif Ghobash, UAE Ambassador to the French Republic, Lana Zaki Nusseibeh, Permanent Representative of the United Arab Emirates to the United Nations, Mohamed Issa Abushahab, Ambassador of the United Arab Emirates to the Kingdom of Belgium, Mohammed Ahmed Al Harbi as well as Abdelnasser Jamal Al Shaali from the Ministry of Foreign Affairs and International Cooperation.

The Cabinet also approved the re-formation of the UAE Committee for the Coordination of Foreign Humanitarian Assistance headed by Reem Al Hashemi, Minister of State for International Cooperation, to coordinate and organize the UAE's humanitarian response to all international humanitarian crises and situations. The committee includes representatives of the armed forces, UAE Red Crescent Authority, Khalifa bin Zayed Al Nahyan Humanitarian Foundation, Mohammed bin Rashid Al Maktoum Charitable and Humanitarian Foundation, Dubai Cares Foundation, And the World Humanitarian City.

The Cabinet also adopted the establishment of a UAE Embassy in Ivory Coast in Abidjan and the establishment of a UAE Consulate General in Zanzibar in the Republic of Tanzania. The Cabinet also approved an agreement between the Government of the Republic of Moldova on economic and technical cooperation, an agreement with the Government of Turkmenistan on cultural cooperation and the adoption of UAE’s contribution to the Eleventh Replenishment of the International Fund for Agricultural Development (IFAD) for the period 2019-2021.