Foreign investors including Pakistanis can apply for UAE 10-year residency visa. In order to promote new companies and investors, UAE government has taken this initiative.
The decision aims to promote “international investments and exceptional talent”, as per Dubai ruler Sheikh Mohammed bin Rashed Al-Maktoum.
Adding, “The UAE will remain a global incubator for exceptional talents and a permanent destination for international investors.”
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Due to the slowdown in the economy of UAE this decision has been taken.
Furthermore, students of different nationalities living in UAE, including Pakistanis are relieved that they will not have to renew their visa every year anymore. Students can have five years visa while exceptional students will be given 10-year visa.
A Pakistani-Canadian IT consultant Shahzad Ahmed, living in Abu Dhabi, rented a house in Abu Dhabi for 15 long years, but he said that if he gets a longer stay residency visa he can buy in the emirate.
“My in-laws have been living in UAE for nearly 50 years and UAE is home for us. Every other place feels alien. If we were given a chance, we would jump on such an opportunity. We would love to have a permanent residency here.”
Adding, “Definitely, our decision to buy property here would be affected if we were able to get a residency visa here. Then, this would be our first home. Everything would revolve around buying property here and putting down our roots in this country.”
Other nationals living in UAE can also apply for this residency visa. Nigerian university student in Dubai, Honour Chakote, said, “For me, I always dread September and October because that’s the time when I came to Dubai – in 2014 – and that’s the time of the year that I have to renew my visa. So, an opportunity like this is simply amazing. Some students, after their education, want to stay back in Dubai and work but due to some visa issues they may not have enough time to find a job.”