Investors attracted by UAE visa change and business friendliness

This year, the UAE is expected to draw more foreign investment thanks to a number of initiatives the government has put in place to make doing business there easier for foreign companies.

According to a business consultancy, the emirates will draw more millionaires and high-net-worth individuals this year as a result of an increase in queries about new visa alternatives the government is offering to start a business in the UAE.

As foreign investors are eager to be a part of the success story of the UAE by relocating their business to the emirate, Business Link, a UAE-based business consultancy with operations in Saudi Arabia, said it received many inquiries and clarifications about the golden visa, silver visa, investor visa, and freelance visa.

The UAE also draws foreign investors because of its business-friendly regulations, stable economy, favourable tax laws, and strategic position.

Business Link's founder and CEO, Hatem ElSafty, stated: "We are confident that 2023 will see an even greater influx of international companies looking to tap into the opportunities that the country has to offer." The UAE's business-friendly policies and forward-thinking approach have made it a hub for foreign investment.

According to Business Link, the UAE will step up efforts with a number of new measures to increase its allure for overseas investors.

Company Link quoted the UAE Ministry of Economy as saying that despite the difficulties brought on by the Covid-19 outbreak, the number of new business establishments in the nation has shown a consistent trend.

This demonstrates the remarkable adaptability and resilience of the business climate in the UAE.

Additionally, the government has put in place a number of programmes to encourage the development of the nation's small and medium-sized businesses (SMEs).

For instance, the Emirates Development Bank offers financial assistance and other forms of support to SMEs. In addition, the Dubai SME programme provides a range of services, such as networking and mentorship, to aid SMEs in developing and flourishing.

It is anticipated that the trend of new business establishments in the UAE will continue to increase over the next years.

More investment is projected to be attracted to the real estate, e-commerce, logistics and transportation, hotel, and tourism sectors thanks to the government's continued initiatives to encourage and support entrepreneurship and innovation and the favourable business environment in the nation.

According to Business Link, "the emphasis on technology and sustainability would be more significant in fostering new business growth in coming years."

Overall, the UAE is expected to draw greater foreign investment in 2023 thanks to its business-friendly regulations, advantageous location, stable economy, and favourable tax laws.

Foreign businesses will find it even simpler to establish themselves and conduct business in the nation thanks to the new policies and rules.

In addition, the special economic zones will offer certain incentives to draw particular kinds of foreign investment. These elements, along with the UAE's expanding population, will guarantee that the country continues to be a desirable location for foreign investment in the years to come.

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