The United Arab Emirates (UAE) has introduced a six-month multiple-entry interim visa for non-UAE residents seeking long-term investment visa in the Gulf state.
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, Khaleed Times reported on Wednesday
while citing UAE officials.
Investors, experts and talented students who are eligible
for the long term visa — ranging from 5 to 10 years — can avail of
the interim visa to identify opportunities in their field, the Federal
Authority for Identity and Citizenship said in an official 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.
It also 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.
Shaikhani Group welcomes the take step by Government of
UAE for multiple entry visas. This step will leads to new path for the people
who are eagerly looking to spend their life in the UAE for longer time with
less hassle, said Ahmed
Shaikhani, who is also the head of Shaikhani Group. Moreover, Ahmed Shaikhani revealed that soon Shaikhani
Group is in process of finishing their two projects worth above AED 200 Million
by 2019 and more things are in pipeline. Shaikhani Group is looking to invest
more money in the real estate sector.
Ahmed Shaikhani Group Managing
Director of Shaikhani Group says it will be another good step of UAE government
to allow the expatriates to stay in the country after they got retirement on a
condition of owning a property valued at about $545,000.
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