DUBAI - The United Arab Emirates will offer long-term visas to rich property investors, senior scientists and entrepreneurs.
Until now, visas for foreigners to live in the Arab world’s second biggest economy have generally been valid for only a few years, and have depended on the main visa holder in each family remaining employed. The government said in May it planned to ease that policy.
Detailed rules approved by the cabinet on Saturday offer five-year residency to owners of UAE real estate worth at least 5 million dirhams ($1.4 million), as long as ownership is not based on loans, state news agency* WAM* reported.
Renewable 10-year visas will be provided to foreigners with investments in the UAE of at least 10 million dirhams, if non-real estate assets account for at least 60 per cent of the total. Investors can bring spouses and children into the country.