New UAE Golden Visa SchemeMay 25, 2019
This week saw the announcement of 'The golden card' initiative, as rolled out by Sheikh Mohammed bin Rashid, Vice President, Prime Minister and Ruler of Dubai, the news on this permanent residency has been met with a chorus of approval by business leaders and entrepreneurs across the Emirates.
Experts across the country have backed the new visa, believing it will entice big business and entrepreneurs to consider the Emirates as a place with increased stability where one can invest and live inperputuity.
The programme is part of the government’s larger ambition to draw high-end research, technology and start-up firms to the United Arab Emirates.
People planning long-term investments can now consider making Dubai or the other Emirates their principal primary residence following this decision. This initiative will I am sure encourage more people to consider Dubai and the wider United Arab Emirates in their long-term investment and living/family plans.
The UAE government said that the first 6,800 people have been selected for long-term status.
The UAE’s visa programmes compares very favourably against Singapore’s permanent residency programme as it does not involve the military service component. In Singapore when you are a long term permanent resident, the second generation have to serve in military service, which is not the case here in the UAE.
This golden visa news is fantastic for anyone who has or is considering opening a business or making an investment here in The UAE. This Golden visa scheme is of course a great new asset for the UAE in terms of positioning itself in the worldwide competition between cities to attract talent.
The United Arab Emirates is a place I am proud to call home and now thanks to the new initiative I may truly be able to consider this wonderful country as my long term home.