The UAE Government has adopted a new entry visa system to introduce a 10-year residence visa to attract and retain investors and top talents. The UAE Government shall also allow 100% ownership in companies established in mainland. The goal is to attract and retain talents in the UAE for a long period of time.
This reform will however be focused on only few categories of professionals, industrialists at the beginning namely: technology entrepreneurs, influencers, high-end investors and specialists in science, space and medicine. This reform is not intended on covering individuals with academic degrees in these fields. It shall cover individuals with exceptional expertise in their field that UAE can focus on.
Similarly, 100% ownership by foreign investors in mainland companies has never been permitted in UAE free zones. The UAE Government may now permit multinational and global companies which are established in most of the continents in the field of healthcare and technology, 100% ownership in UAE mainland companies. The aim of this reform is expected to be creation of employment opportunities, which is linked with UAE’s national recruitment targets. 100% ownership might attract more global companies and in turn shall create more employment opportunities for UAE nationals. There might be certain conditions such as employing a fixed number of UAE nationals, with a certain threshold of salary and contribution toward corporate social responsibility after a certain level of profit.