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New residence permit norms for investors

posted on 21/09/2003: 872 views


The General Naturalisation and Residency Department has started new procedures for foreign investors applying for residence permits. These permits are to be processed under a separate category at the department, unlike other residence permits, which are issued by the Ministry of Labour and Social Affairs. The director general of the department Brigadier Hadher Khalaf Al Muhairi said the move had been taken to streamline procedures for investors.



Brigadier Al Muhairi said: "Investors, whether large or small, or if they are working with a UAE national partner, will no longer have to obtain a labour card from the Ministry of Labour. "Once an investor has the residence visa stamped on his passport and obtains a licence from the Economic Department, he or she can start business immediately. The Ministry of Economy and Commerce from now on will issue licences to investors and the Residency Departments will stamp their residents visa".



He said that the measures were finalised in March when the definition of an investor was fixed after consultation between the Ministry of Labour and Social Affairs and the Ministry of Interior. They concluded that an investor is a person who operates a business whether in partnership with one UAE national or more, or full ownership with a service agent. He added the ministry of labour will only deal with workers' permits and that the new measures would help to curb fraud in visas or labour permits. All the naturalisation and residency departments in the country have now started working with the new rules.



In addition, the General Naturalisation and Residency Department is planning to cancel the 'exit and re-entry' system required for new employment visas, replacing it with a payment of Dh500. This system, which is already followed by Dubai Naturalisation and Residency Department, will be introduced soon in departments in the rest of the country. (The Gulf News)

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