Dubai is famous and popular for a number of reasons, there are some things which make it the best place to be. One of them is the ease of settling, getting a residence and establishing a business here. The investors now can have complete ownership of their business without any intermediate obstacle in the country.
Moreover, specialists such as engineers, doctors and other professionals including but not limited to chartered accountants, MBAs and finance personnel will get residency visa for around 10 years. They can also bring their families with ease and they will get the 10 year residency visa as well. The decision has been made after a Cabinet meeting by the Vice President and Prime Minister of the UAE.
This is a very attractive position for global investors as they will now be able to have 100% ownership of their companies in the country. The 10-year residency visa for specialists from all over the world is also very attractive as the innovators, entrepreneurs and scientists are also going to get 10 year residences. Moreover, sharp and bright students can also get 10 year residency depending on their academic performance in the respective fields.
The basic aim and objective behind this decision and strategic planning is to create a destination for investors.
“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 realize the dreams of humans and unleash their exceptional potentialities.”
This decision is going to positively affect the country as well as the foreign investors. The UAE will benefit from the unsurpassed talent of foreign nationals including doctors, engineers, MBAs, chartered accountants and even for tertiary professions such as chef, carpenter, and babysitter among many others.
The competent professionals from rest of the world will also be given a chance to completely own their life in the new country. For global investors, it is an ideal situation as they can be the owners of their property.
The business owners and industry experts have also applauded the new 10-year visa scheme as it can work favorable for them as well. The chairman of Lulu Group also said that this is an exceptional decision which can boost the image of UAE in the global business community around the world. This will help in not only attracting the investors but also the best professionals who are highly needed in the competitive world of today.
According to the chairman and founder of Danube Group, Rizwan Sajan, the Indians have invested a lot of money in the UAE and this move can substantially increase the trust on the economy and political stability of the UAE. This decision can also be helpful for the further improvement of economy in this region.
The senior partner at Crow Horwath; Atik Munshi also said that it is an exceptional move to attract foreign investors and employees. He further added, “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. Ahmed Shaikhani, the president of Pakistani Business Council also said that the move will substantially benefit the UAE economy as well as the property sector in particular. All in all, this is a very positive decision taken at the right time.