Global Outlook

 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 ...

 The United Arab Emirates (UAE) has eased its visa norms, making it easier for foreigners to buy properties and live there for the long term.  The new rules, introduced in April 2022, particularly related to the UAE’s Golden Visa, provide long-term visas to foreigners without the need for a national sponsor. Earlier, foreigners could only stay in the UAE if they had an Emirati sponsor.  The new rules will officially come into effect this September. Why is the Golden Visa important? Golden Visa holders can stay in the UAE for 10 years. They can also enjoy some “exclusive benefits” under the new system. They can sponsor family members, including spouses and children, regardless of their age. The Golden Visa will be issued for 5 or 10 years and will be renewed automatically. There is no restriction on the maximum duration of stay outside the UAE to keep the Golden Visa valid. Earlier, visa holders had to return to the UAE every six months if they traveled abroad.  If t...