UAE launches five-year visa for entrepreneurs

@DXBMediaOffice/ Twitter

The UAE has started issuing five-year residency visas for entrepreneurs as part of efforts to enhance the ease of doing business in the country.

In order to be eligible, entrepreneurs should have a venture worth at least AED 500,000 and the approval of an accredited business incubator in the country.

The Federal Authority for Identity and Citizenship is in charge of processing the applications, while Dubai Future Foundation's Area2071 and the HUB71 in Abu Dhabi will nominate entrepreneurs for the initiative.

The five-year residency can also be granted to three executive directors working for the entrepreneur, provided they don’t work for anyone else during the period of the visa.

Last year, the UAE announced that it would grant five or 10-year visas to investors, entrepreneurs, and specialised talents in the medical, scientific, research and technical fields, as well as outstanding students.

The visa benefits also extend to their spouses and children.

More from Local

Coming Up on Dubai Eye

  • The Business Breakfast

    6:00am - 10:00am

    The Business Breakfast is the day’s must listen for the UAE’s business leaders, and those who aspire to be.

  • The Agenda

    10:00am - 1:00pm

    Broadcasting every weekday, Georgia Tolley goes beyond the headlines to speak to government ministers, decision makers, analysts and local experts to find out how the news will impact those of us living in the UAE.

BUSINESS BREAKFAST LATEST

On Dubai Eye

  • Is There Sufficient House Supply In UAE

    Dubai’s current population is more than double compared to almost twenty years ago, which now stands at 3.7 million. Lots of families are also moving to the UAE now. So what does it mean for the property market?

  • Noon's First Female Delivery Driver

    Glory Ehirim Nkiruka is Noon’s first ever female delivery driver. In her first ever interview, she explained why she loves her job, despite the heat!