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|15 May, 2019

6,000 investors apply for UAE's five-year visa

Earlier this month, the ICA announced the implementation of five-year visas for entrepreneurs to enhance the ease of doing business.

DIFC district in Dubai. Image used for illustrative purpose.

DIFC district in Dubai. Image used for illustrative purpose.

DIFC/Handout via Thomson Reuters Zawya

The Federal Authority for Identity and Citizenship (ICA) revealed that it received about 6,000 applications from investors and entrepreneurs during the first week of its announcement to start receiving long-term residency applications.

Earlier this month, the ICA announced the implementation of the Cabinet's decision to issue five-year residency visas for entrepreneurs as part of its aim of enhancing the ease of doing business in the country.

The ICA, the Business Incubator HUB71 in Abu Dhabi, and the Dubai Future Foundation will work together to promote opportunities to attract entrepreneurs and creative professionals. The three entities will collaborate in the areas of training, sharing knowledge, enhancing ease of doing business and creating a conducive environment for investment and business.

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The Federal Authority for Identity and Citizenship will be in charge of issuing the residency visas while HUB71 in Abu Dhabi and Dubai Future Foundation's Area2071 in Dubai will nominate entrepreneurs for receiving the benefits of the initiative.


 

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