The Federal Authority for Identity and Nationality announced the activation of the decision of the Council of Ministers on the issuance and organization of visas for entrepreneurs, in order to facilitate the business, confirming the entry into force of the decision to grant entrepreneurs five-year visas.
HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and HH Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior and HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior. The Federal Authority for Identity and Nationality has signed a number of joint cooperation agreements with the HUB71 business incubator in Abu Dhabi and the Dubai Foundation for the Future to promote opportunities for attracting entrepreneurs, experienced people and innovative thinking as a framework for cooperation between the three agencies in the fields of training, exchange of experiences and facilitation of procedures. Zawelh business, creating an attractive and encouraging the growth and success of business in the state investment environment.
The signing of the agreements was witnessed by the Head of the Department of Finance in Abu Dhabi, Jassim Mohammed Buatabah Al Zaabi, and the Chairman of the Federal Authority for Identity and Nationality, Ali Mohammed Bin Hammad Al Shamsi, along with a number of senior officials. The Authority will be responsible for the issuance of visas. The HUB71 business incubator in the Emirate of Abu Dhabi and the Dubai Foundation for the Future business incubator will be selected to nominate entrepreneurs benefiting from this move to further enhance the investment environment. Creative ideas and works from around the world to achieve their ambitions, from the UAE.
"The agreements come within the framework of the Council of Ministers' decision to organize residence permits for investors, entrepreneurs and specialized talent, aimed at attracting the creative minds and distinguished expertise of the UAE, and providing all the necessary incentives to consolidate the UAE's position," said Major General Saeed Rakan Al Rashidi. As the most attractive environment for business and expertise, which will positively impact the overall development and production processes, improve the business environment, make it more efficient and attractive, and bring the country's competitive capabilities to higher levels on the global stage ».
Abu Dhabi Executive Secretary Dr. Mohammed Rashid Al Hamli said: "The UAE today represents a destination for many people looking for opportunities for success and excellence. We support the highest levels of integration with government and private sectors to enhance development and government policies. And the proposal of development projects, including attracting entrepreneurs, a step that will also be reflected positively on the economic level, and consolidate the status of the state as one of the most important economic centers in the world.
Under the signed agreement, HUB71 will cooperate with HUB71 to develop mechanisms and plans to attract entrepreneurs in the Emirate of Abu Dhabi, intensify cooperation, provide support and facilitate procedures.
The Dubai Foundation for the Future, Khalfan Juma Belhoul, said that through this agreement, the Foundation seeks to translate the UAE's orientations as an incubator of ideas and innovations and a destination for investors, entrepreneurs and distinguished individuals. "We seek to strengthen our partnerships with government and private entities and unify visions to make the UAE a global destination for innovative business models and methods," he said.
"The entrepreneur and his or her family, consisting of a husband, wife and children, will be granted residency permits for five years renewable. The visa is personal rather than institutional, to ensure entrepreneurs are independent and to support their business environment."
The efforts will be coordinated between the Federal Authority for Identity and Citizenship and the Dubai Foundation for the Future to provide recommendations and nominations to attract entrepreneurs and cooperation in the field of training, through the business incubator of the institution's "2071" area, In supporting the country's development strategies.
The Council of Ministers previously approved the decision to organize residency permits for investors, entrepreneurs and professional talent. Article 6 of the decree included the regulations for issuance of a residence permit for entrepreneurs and the Federal Authority for Identity and Nationality. The entrepreneur and members of his family consisting of the husband, wife and children granted residence permits for five years Renewable, without the need for a guarantor within the state, provided that a set of basic criteria are met, including: Having a previous and successful project of at least 500,000 dirhams in an approved field approved by the committee or approved by an approved business incubator Of the Authority in the State, to establish the proposed activity in the State and to submit a comprehensive health insurance document to the members of his family throughout his stay in the State.
«Federal Federation of Identity and Nationality» signed two agreements for cooperation in training, and facilitate the procedures for doing business.
Residence includes a business entrepreneur, husband or wife and children, and 3 executive directors of his for 5 years.
An initial entry visa for 6 months multiple entry times to complete the procedures and apply for a business visa.
The decision helps the owners of creative ideas and outstanding business to achieve their ambitions from the UAE.
Residence permits
The Federal Authority for Identity and Nationality has set three conditions for the granting of five-year renewable residence permits to three executives who work for a business entrepreneur:
Be committed to working with the entrepreneur throughout the validity of the residence permit.
To provide a comprehensive health insurance document to him and to his family members throughout his stay in the State.
Approval of the Committee concerned.
The entrepreneur is entitled to obtain a visa for an auxiliary service worker, in accordance with the applicable legislation.
The Entrepreneur shall also grant a six-month entry entry permit to the State to facilitate the completion of the procedures for establishing his / her project, in accordance with the conditions and regulations of the Authority in the issuance of entry permits.
Cooperation agreements come within the framework of the decision of the Council of Ministers to organize residence permits for investors, entrepreneurs and specialized talent, aiming to attract creative minds and distinguished experiences to the State.