The latest UAE visa rules along with 100% Foreign Equity Ownership will attract overseas investors to the nation. These changes in UAE immigration and investment rules are aimed at encouraging immigrant investments in capital and enhance social stability.
The details of the changes are yet to be announced. The UAE Cabinet along with the Abu Dhabi Executive Council is working on it finer aspects. It is likely that more information on the same will be available over next couple of weeks, as quoted by the Arabian Business.
Abu Dhabi Department of Economic Development International Economic Relations Acting Executive Director Ahmad bin Ghannam elaborated on the changes. He said that further opening of UAE in association with Economy Ministry can be expected.
A new law for investment in UAE will permit 100% FEO in several non-oil sectors. This is specifically aimed at attracting overseas investors to invest in UAE. As of now, overseas firms in UAE are required to have a partner locally with 51% of the shares.
The fresh UAE visa rules are likely to cover regulations for retirees. Many new categories of visas along with Student Visas and Residency Visas having longer duration are also anticipated. It is aimed to protect the native investors in a manner that does not fade the competitiveness, efficiency, and opportunities for all types of investors.
Abu Dhabi DED plans to utilize the new UAE visa rules for implementing initiatives that will attract enhanced FDI into the economy. It is already making investments of billions of Dirhams to develop infrastructure.
UAE is also creating free zones and developing leisure and tourism sectors. These initiatives are targeted at boosting growth and diversification of the economy.
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