Is The UAE Golden Visa gaining in popularity for Residency-By-Investment in 2023-24?

Is The UAE Golden Visa gaining in popularity for Residency-By-Investment in 2023-24?

The UAE Golden Visa is a residency-by-investment program that offers foreign nationals the opportunity to become citizens of the United Arab Emirates by investing in the country. This program has become incredibly popular in recent years, as it offers a range of benefits such as tax-free living, access to high-quality education, and a safe and secure environment.

• The UAE provides economical and tax-free residency arrangements that have become especially advantageous in the midst of the financial and political tumult of 2022.
• There are a variety of ways to gain residency in the Gulf country. Most people opt for registering a business as it is the most economical choice. Additionally, setting up a registered company gives the inhabitants the possibility to start or keep up their business endeavors in the no-tax setting of the Emirates.
• The United Arab Emirates (UAE) offers a wide range of benefits to those who register their company with the government. By registering, people can gain access to a number of advantages, such as residence, work permits, and other services.
• Residency in the UAE can provide a number of advantages, such as a safe and stable environment, access to a wide range of business opportunities, and a better quality of life. Additionally, registering a business in the UAE comes with the benefits of access to a low-cost and highly skilled labor force, as well as attractive incentives for foreign investors. With these advantages, registering a company in the UAE can be a great way to realize success in the ever-growing Middle Eastern market.

The UAE is open to applications from any nationality, including people from Russia and Ukraine.

• Family members, including spouses and those under the age of 18, can receive the same resident status as the primary applicant.
• Residents of the Emirates are not restricted to conducting business within the boundaries of the country, they are free to do so in any location of their choice.
• The UAE has become a major center of finance and commerce around the world. People living in the country are allowed to purchase and make investments in real estate in the UAE.
• The UAE has become an attractive destination for international entrepreneurs due to its strong economic position, attractive tax policies, and modern infrastructure. The UAE has made it easier for international entrepreneurs to start and operate their businesses in the country by offering favorable residency, legal, and business rules.
• Additionally, the country has also established a number of initiatives to encourage foreign investment and innovation, including incubators and accelerators, technological hubs and start-up funds. This combination of factors has made the UAE an attractive destination for entrepreneurs and has helped it become a residency hub for entrepreneurs from around the world.

Why United Arab Emirates (UAE)?

• The United Arab Emirates is comprised of seven Emirates – Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al Quwain, Ras Al Khaimah and Fujairah. Each of these Emirates offer attractive tax benefits and residency solutions.
• In recent years, the UAE has been transforming into a modern nation and has become far more accepting of foreigners and their rights. Dubai, in particular, is a desirable place for both investments and residency given the numerous tax advantages it offers.
• The UAE is an attractive destination for business owners and entrepreneurs from all over the world, due to its modern financial institutions and infrastructure. It is a great place for those wanting to expand their business activities on a global scale, as it is popular with people from India, Pakistan, Sri Lanka, and Bangladesh. Because of this, many businesses have chosen to move their headquarters to the UAE.
• One way to make UAE residency more affordable is to explore ways to reduce costs. This could include researching housing options, looking for deals on transportation and other services, and making the most of the resources available. Additionally, it may be wise to set a budget and be mindful of expenses to ensure that the residency is affordable.
• If you compare the cost of the regular residency by investment programs to the ones offered in the UAE, you will observe that the average cost of a residency by investment program is much higher than becoming a UAE resident through company formation.
• For instance, if you decide to invest in real estate for residency, the cost would be similar to the other programs available. The UAE offers three different types of companies that can be registered in exchange for residency. The most expensive option is €22,450.

Our Mumbai-based office of Corneredge boasts specialists who are ready to address any queries you may have. Get in touch with us to find out more information!