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UAE Citizenship by Investment Programme: An Opportunity

UAE Citizenship by Investment Programme: An Opportunity

The much-awaited headlines are music to the ears of residents and investors in UAE.

Citizenship to Expats

The UAE Citizenship by Investment program will permit the eligible investors and people with special talents to be naturalized along with their families, have UAE citizenship (along with the citizenship of their country of origin), and call it their home.

Notably, this new development is part of a series of foreigner-friendly reforms in the UAE’s domestic policy on cohabitation plus liberalized non-conforming purchasing ability on hard beverages. To top it all, 100% ownership in businesses. These ground-breaking reforms are intended to attract investors and special talents to the country and contribute to the growth of the economy.

Investors across the country have welcomed this change with much enthusiasm. With optimism at its highest, the move significantly impacts the economy and attracts investments into the country. Since this promising amendment extensively covers the investors and talented individuals along with their families, foreign expats are elated by the fact that the benefits will translate into generations – making the UAE the first home for millions.

Who will benefit?

In order to ensure that this new development translates into practical growth in the economy, the UAE cabinet, executive councils, and local courts will nominate the eligible candidates for citizenship. These entities will be responsible for choosing the nominees and there will be no need for submitting any applications to the government.

The nominees for UAE citizenship will be:

  • Investors with owned property in the UAE.
  • Doctors, scientists, and engineers with 10+ years of experience.
  • Artists and intellectuals with an internationally recognized award.
  • Inventors with at least one certified patent within the UAE.

The eligible nominees will be allowed to include their partner and dependent children in the program.

Inclusions to The Golden Visa

The UAE government introduced significant changes to the Golden Visa program with an add-on feature of five-year retirement visas for people above a certain income level. Inclusion of a remote-work visa that allows a one-year stay for individuals with overseas employment albeit with a salary requirement, was applauded by the professional community.

All these amendments are a stepping-stone to a larger scheme of development of naturalization alias granting citizenship. This, in turn, will bring many willing investors to the UAE, simulating new avenues to build a base in the UAE.

Here are some of the benefits that investors and their families will enjoy with UAE citizenship:

  • Bring spouses and dependent children to the country.
  • Register assets without any restrictions.
  • Establish companies with ease
  • Travel visa-free to 167 countries.
  • Enjoy the attractive UAE tax schemes – no income tax, no return filing, and no tax on foreign income.
  • Retain original citizenship.

Conclusion

We feel this amendment to the naturalization policy, will change the demographic and cultural thinking. The country will embrace the new incumbents. This warmth will encourage investors to accept UAE are their home and lifestyle. The historic shift in the Citizenship Policy will not only offer more growth opportunities but also let investors have a profound and permanent stake in the country.

About Xanara

Xanara is a private banking and wealth advisory focused on developing and implementing transparent and client-centric, financial solutions that are backed by expertise. We understand the weight of our solutions and act with the utmost care, resilience, and most importantly, integrity.