The United Arab Emirates has announced that foreigners seeking a 5-year multiple-entry visa must maintain a bank balance of approximately $4,000 (N5,447,520) for a full six months before applying. The funds must remain in the applicant's account for the entire period, and last-minute deposits will not be accepted.
Bank Balance Rule Clarified
The UAE's official position specifies that the required amount must have been sitting in the applicant's bank account for the preceding six months. This condition is crucial: money deposited at the last minute to meet the threshold will not be considered. The purpose of the financial requirement is not to collect a fee or deposit but to prove that the applicant has sufficient financial standing to support themselves during visits to the country.
According to the UAE, the money remains entirely in the applicant's possession. It is only shown to confirm eligibility, not surrendered as part of the application process. This clarification is significant for prospective applicants who may have assumed the amount needed to be paid upfront.
Additional Requirements for the 5-Year Visa
Beyond the bank balance condition, the UAE indicated that other travel arrangements form part of the application process. These include a valid flight ticket, health insurance, and hotel booking, all of which the UAE noted would be arranged as part of the process. The 5-year multiple-entry visa is designed for foreigners who wish to visit the UAE repeatedly over an extended period, avoiding the need to apply for a single-entry visa each time they travel.
For Nigerian applicants, the naira equivalent of $4,000 places the financial bar at over five million naira, underscoring the planning required well in advance of any application. The UAE stated: "The ~$4,000 must be kept in your account across the full 6 months — not deposited last minute. It stays your own money; it's only shown to prove eligibility. Flight ticket, health insurance & hotel booking are arranged by us."
Related Residence Permit Requirements
In a related development, Legit.ng recently reported that the UAE government published residence permit requirements for foreigners seeking to live in the country. The guidelines include a financial solvency requirement, with applicants expected to meet a minimum monthly income depending on whether their employer provides accommodation. This new visa announcement provides a clear financial benchmark for those planning extended or repeated visits to the UAE.
