"The UAE will remain an incubator for innovators and a hub for investors," Sheikh Mohammed tweeted. "Our open environment, tolerant values, infrastructure and flexible legislations constitute the best plan to attract global investments and exceptional talents. The UAE will remain a land of opportunities. It is the best environment to realise the dreams of humans and unleash their exceptional potentialities."

Sheikh Mohammed tweeted late Sunday night that the decision will be enforced by third quarter of this year:

This decision will be enforced by third quarter this year .
Our open society, tolerant values, excellent infrastructure and flexible legislation offer the best environment for international investment and exceptional talent. pic.twitter.com/kdOVX02q4L

— HH Sheikh Mohammed (@HHShkMohd) May 20, 2018

Business owners upbeat in UAE
Business owners and industry experts have hailed the 10-year visa scheme.

Yusuffali MA, chairman of Lulu Group, said "This is a landmark announcement (and is) sure to further boost the UAE's image as the most investor-friendly economy in the region.

"This new long-term visa will go a long way in attracting and retaining not only investors but also top notch professionals who are very essential in today's highly competitive world."

Rizwan Sajan, chairman and founder of Danube Group, said Indians like him have invested a lot of money in the UAE. "This (move) boosts the trust and confidence which we already have in the UAE. We are thankful to Sheikh Mohammed for this initiative, which will surely boost the economy."

Atik Munshi, senior partner, Crowe Horwath, termed the move an "incredible development to attract investments".

"The 10-year visa is not only incredibly attractive, but also has come at the right time when the UAE is looking to enhance its investor community. This will build up enormous confidence for the investors who want to make the UAE their home," Munshi told Khaleej Times.

Pakistan Business Council (Dubai) president Ahmad Shaikhani said the move would benefit the UAE economy in general and the property sector in particular. "I hope it would be extended to all businesses," Shaikhani said.

Kamal Vachani, Director Al Maya Group, said: "10-year visa - this is great news as it will further boost the confidence of investors. UAE has always been in the forefront of taking pragmatic, business friendly and investor friendly decisions.

"We are very excited and indeed very happy with this announcement, and congratulate UAE's leaders for this investor friendly decision.

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