Global investors can have 100 percent ownership of their companies in the country. At present, companies are required to have a local partner that owns 51% of the business. Only those based in free zones can be 100% foreign-owned.
The changes were announced in a Cabinet meeting chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai on Sunday.
The system will grant investors and talents up to 10-year residency visas for specialists in medical, scientific, research and technical fields, as well as for all scientists and innovators, entrepreneurs and innovators as well as five-year residency visas for students studying in the UAE, and 10-year visas for exceptional students.
Investors and specialists such as doctors and engineers will receive UAE residency visas valid for up to 10 years, it was announced on Sunday. The families of these categories of expatriates will also receive the same visa validity. Top performing students are also eligible for the 10-year residency visa scheme.
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