Extending your visa every three years could be a bit of a hassle sometimes, especially if you are one of the people who have invested in the country and are out here for the long term. Well, the UAE doing what it does best, made a rather astonishing annoucement in their recent Cabinet meeting chaired by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai. The residency visa renewal is now up to 10 YEARS for investors and professionals (doctors, engineers, etc.) and their families in addition to grade ‘A’ students. 

These include all the entrepreneurs and innovators that are encouraged to invest and add into the welfare of the UAE. Promoting their goal for quality education they are providing five years studying visa to students in the UAE whilst 10 years extention to exceptional students..These implementations are expected to be in action by the end of 2018. 

All these statements by the Cabinet have left the residents feeling happy but wait, there is more. They also announced 100% foreign ownership for investors and these also include the ex-pats. This is almost double considering it was 49% before. 

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai said, “The UAE will remain a global incubator for exceptional talents and a permanent destination for international investors.”

So if you were planning to leave UAE, I’d suggest you reconsider the idea!Â