The decision is part of a wider change to the system that would grant residency visas of up to 10 years to investors and specialists in scientific, technical, medical and research fields, the agency said.
Reuters
Updated:May 21, 2018, 8:05 AM IST
People watch the sunset in Dubai, United Arab Emirates December 21,2017. REUTERS/Ahmed Jadallah/Files
The decision is part of a wider change to the system that would grant residency visas of up to 10 years to investors and specialists in scientific, technical, medical and research fields, the agency said.
The cabinet meeting was chaired by Sheikh Mohammed bin Rashid Al Maktoum, vice president and prime minister of the UAE and ruler of Dubai. He directed the economy minister to implement the resolution and submit a study following up its impact in the third quarter of this year, WAM said.
At present, foreigners generally cannot own more than 49 percent of any UAE firm unless it is incorporated in a special “free zone”.
Also Watch
-
Royal Wedding 2018: A Look Back at Royal Weddings of the Past
-
Wednesday 16 May , 2018 Meghan Markle Wedding | Eight Things You Didn’t Know About The Royal Bride
-
Saturday 19 May , 2018 How Congress Edged Past BJP in Karnataka
-
Wednesday 16 May , 2018 OnePlus 6 First Impressions Review: All You Might Need in 2018
-
Friday 18 May , 2018 Types of Players In a Cricket Match : Spoof Video
Source: News18