10-year residence visa in UAE for investors, doctors, specialists and top students

newsimageABU DHABI: To further boost the UAE’s position as a primary destination for international investors and top talent from around the world, the Cabinet on Sunday has adopted a new system of entry visas for investors and professionals — providing them with a long-term visa for up to 10 years. Reaction: UAE's new 10-year residence visa rule hailed The decision, made during a Cabinet meeting chaired by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, further reinforces the UAE’s position as a primary destination for international investors and global talent. The new rule was approved by at the Cabinet meeting chaired by Shaikh Mohammad at the Presidential Place in Abu Dhabi on Sunday. Lt. General Shaikh Saif Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior, and Shaikh Mansour Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, were also present. Residency system amended "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 to the UAE," stated Shaikh Mohammad. He also 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. New visa system The new visa system will increase the chances of attracting investors and competencies to the UAE and thus, further boost the country's economic competitiveness globally. The global investors' ownership of UAE-based businesses is expected to reach 100% by the end of the year. 10-year residence visas 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. It also grants five-year residency visas for students studying in the UAE, and 10-year visas for exceptional students. The Cabinet also issued instructions to conduct a review of the residency system with a view to extending residency permits for those sponsored by their parents after completing their university studies to facilitate their future residence in the UAE. Resolutions The UAE Cabinet also adopted a resolution on the Hajj and Umrah system, which aims to develop the regulations and procedures in line with the approved electronic pathway programme 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. School calendar for 2018-2021 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. Emirates Diplomatic Academy The Cabinet also approved the restructuring of the Board of Trustees of the Emirates Diplomatic Academy under the chairmanship of Shaikh 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 Mohammad Gargash, Minister of State for Foreign Affairs; Dr. Sultan Al Jaber, Minister of State; Zaki Anwar Nusseibeh, Minister of State; Ali Mohammad 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, Mohammad Issa Abushahab, Ambassador of the United Arab Emirates to the Kingdom of Belgium; Mohammad Ahmad Al Harbi as well as Abdelnasser Jamal Al Shaali from the Ministry of Foreign Affairs and International Cooperation. Foreign Humanitarian Assistance 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