DUBAI – The United Arab Emirates will offer long-term visas to richproperty investors, senior scientists and entrepreneurs.
Until now, visas for foreigners to live in the Arab world’s second biggesteconomy have generally been valid for only a few years, and have dependedon the main visa holder in each family remaining employed. The governmentsaid in May it planned to ease that policy.
Detailed rules approved by the cabinet on Saturday offer five-yearresidency 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 newsagency* WAM* reported.
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Renewable 10-year visas will be provided to foreigners with investments inthe UAE of at least 10 million dirhams, if non-real estate assets accountfor at least 60 per cent of the total. Investors can bring spouses andchildren into the country.
