The government of the UAE has recently decided to offer investors a visa with an extended validity period of 10 years. This landmark decision is expected to enhance the flow of expatriates’ investments in the Gulf nation. It has already managed to infuse a sense of confidence among investors. As a result, they are not required to jostle with visa paper-work every 2 to 3 years anymore.
Aftab Ali Khan said that he has invested in frozen food business in the UAE and that he is dealing with Eastern Europe while sitting here. He had recently opened a new office in Singapore, arguing that investor visa rules are more liberal there compared to the UAE. However, he added that, much in the wake of the UAE’s official recent decision, the investment he made in Singapore office does not mean that much. Khan claimed that he is feeling more confident and empowered now as an investor. Aftab Ali Khan is a Pakistani expat and he has been doing business in the UAE for the last 15 years.
Visa extension to increase workforce flexibility
The initiative will increase the flexibility of expat workforce in the country. Besides investors, the UAE authorities will be granting extended visas to specialists such as doctors and engineers. The measure also says that the same visa validity will be offered to the families of these categories of expatriates. At the same time, students with great results in education can also apply for the 10-year visa.
Robert Irani’s son will be going to college or university in 2019. His family had planned to send him to the UK for higher education. However, with the recent visa extension, they are now thinking to change the plan and let him try to get in some good university in the UAE. Robert Irani is a nutritionist who lives in Dubai.
He added that his son will be having enough time to look for a suitable job after completing his studies in the UAE. Therefore, there would be no need to invest outside the UAE when the boy is already getting enough opportunities in the UAE.
The decision was announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai. He announced the extension of the visa validity period after chairing a Cabinet meeting in May.
Visa extension boosts investors’ confidence
The new decision was hailed by many veteran expat businessmen in the UAE. Such investors have made UAE their home for the last many years.
According to Yusuff Ali MA, this is a landmark announcement that will surely further boost the UAE’s image as the most investor-friendly economy in the GCC region. With the visas having a longer validity period, the UAE business sector will be able to attract and retain a big number of investors. It will also attract top notch professionals who are very essential in today’s highly competitive world. Yusuff Ali MA is the chairman of one of the fastest growing retail chains in the world.
In the meantime, Avin Gidwani said: “This policy will mark the beginning of the next economic wave – it clearly answers the question about the driver behind the aggressive ongoing construction”. Avin Gidwani is the CEO of BNC Network, Dubai.
He claimed that the leadership of the UAE has always been visionary. He thinks that such a policy highlights the fact the UAE has a sophisticated economic outlook and farsightedness. Gidwani sees the move as a game-changing initiative that will be capable of boosting confidence among investors in the UAE. At the same time, it will be able to add some rocket fuel to the economy of the UAE.