UAE plans to introduce special preference visas for foreign businessmen who are going to invest in the country’s economy, reported Emirates 24|7.

“The Ministry of Interior is studying a proposal to start issue “golden visa” for businessmen and we plan to implement it at the federal level,” – said the head of the General Directorate of stay of foreign nationals Mohammed Ahmad Al -Marri.

The system of privileged or so-called “golden visas” for foreign investors is currently operating in several European countries. In particular, in the UK a Tier visa or an investor visa is issued once for three years on condition of investing £ 1 million. The minimum threshold for the “golden” visa in Greece is 250 000 euro, in Cyprus – 300 000 euros, in Portugal and Spain – 500 000 euros. It is expected that this step will lead to an increase in foreign direct investment in the UAE, including the sphere of real estate. The duration and cost of such type of visa have not been announced yet.