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The United Arab Emirates (UAE) has introduced a six-month multiple-entry interim visa for non-UAE residents seeking long-term investment visa in the Gulf state.
Those eligible for the long-term visa and currently residing in the UAE can transfer their existing residency permits to investor visa if they fulfil conditions, Khaleej Times reported on Wednesday while citing UAE officials.
Investors, experts and talented students who are eligible for the long term visa — ranging from 5 to 10 years — can avail of the interim visa to identify opportunities in their field, the Federal Authority for Identity and Citizenship said in an official statement.
The authority said it has activated three new services on its portal: a six-month visa with multiple entry to complete the procedures for residency of an investor, a six-month visa with multiple entry to complete long-term residency procedures for both entrepreneurs and outstanding students, and a six-month visa with a single entry to complete the residency procedures for the talented individuals.
It also revealed that it received about 6,000 applications from investors and entrepreneurs for the long-term visa during the first week of its announcement itself.
Shaikhani Group welcomes the take step by Government of UAE for multiple entry visas. This step will leads to new path for the people who are eagerly looking to spend their life in the UAE for longer time with less hassle, said Ahmed Shaikhani, who is also the head of Shaikhani Group. Moreover, Ahmed Shaikhani revealed that Shaikhani Group is in process of finishing their two projects worth above AED 200 Million by 2019 and more things are in pipeline. Shaikhani Group is looking to invest more money in the real estate sector.