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UAE contemplating to launch Golden visa for alien Businessmen

May 2014, 14
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UAE
United Arab Emirates (UAE) Ministry of interior is considering issuing a separate visa, referred to as Golden visa, for businessmen to attract foreign investments and boost up investor sentiments in the region.

Considering to be implemented at the federal level, the UAE Golden visa is expected to meet the high demands of various business communities and it also increases FDI. Other details such as the length and costs of the visa are not known yet.

General Director of General Directorate of Residency and Foreigners Affairs (GDRFA), of Dubai, Mohammed Ahmed Al Marri, stated that the UAE is contemplating to implement the ‘Golden visa’ at the federal level so that the various things are subjected to change which ultimately leads to increased FDI and encourages investor confidence.  

Several countries belonging to European Union, which includes Greece, Portugal, Spain, Cyprus, and Britain, facilitates special visas to foreign investors interested in investing especially in properties in respective countries.

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