UAE Announces Reforms to Encourage More Expat Talent and Investment

 


The UAE government has reformed its visa system to make it easier for skilled expats business owners and investors to live and work in the country. The new rules aim to attract top global talent to support the UAE ongoing economic diversification plans. Reforms include long-term renewable visas and residency options for families.

Key changes under the reforms allow freelancers and self employed individuals to apply for 5 or 10-year renewable visas. Previously it was only large companies that could sponsor expatriate workers. The new GoldenVisa also provides a 10year renewable residency to investors who purchase property in the UAE worth $272000 or more. Retirees can apply for a 5 year retirement visa if they are over 55 and have sufficient financial means.  

Priority visa categories include specialists in fields like science, engineering, health, education and business management. The goal is to recruit skilled individuals who can help expand non oil sectors of the economy such as technology, finance and tourism. Startups will find it easier to base themselves in the UAE with the founder now able to sponsor visas for needed employees.

By opening up to global talent and entrepreneurs, the UAE aims to cement its position as a global economic hub and regional business center. The visa reforms address a major barrier to relocating and doing business long term in the country. It signals the UAE commitment to attracting skilled expat professionals and investors who can help fuel continuing economic growth and diversification.

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