The UAE has approved a new long-term visa system aimed at attracting international investors and high-skilled professional workers. In a major announcement, the UAE cabinet also approved 100 percent foreign ownership of companies in the country, which has previously been limited to those companies based in freezones.
The ten-year visa will be made available to investors in the UAE, as well as those who are specialists in medical, scientific, research and technical fields, as well as for all scientists and innovators.
A separate five-year residency visa will be made available to students studying in the UAE, and 10-year visas for "exceptional students".
In this edition of Inside AB, Jeremy Lawrence and Bernd Debusmann run through the implications of this very big announcement and ask what it means for the UAE economy.
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(Source: Arabianbusiness.com YouTube channel)