10 Nov The golden card in the Emirates for expatriates
The golden card in the Emirates for expatriates and non-citizens
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God protect him, announced the permanent residency system “Golden Card” for investors, entrepreneurs, researchers in the fields of science and knowledge and those with specialized talents, with the aim of facilitating doing business, the residency Through it, it can create an investment environment that is encouraging and attractive to the success and growth of business for investors, businessmen and talented people.
The UAE is an incubator of success and a catalyst for progress and prosperity. The permanent residence decision has positive effects on the UAE economy as a whole
The role of the permanent residence system in stimulating various sectors
The permanent residence system will stimulate the real estate market in the UAE and real estate investment in Dubai in particular. Which will enable expatriates to focus on investing in the UAE instead of buying real estate and other assets in their home country. Permanent residency will also attract high-net-worth individuals due to the long period of real estate investments in the UAE. The permanent residency system creates an environment that encourages investment. Creativity and the consolidation of a development system characterized by stability, And the involvement of exceptional talents to be permanent partners in the development process in the country
The permanent residency system is distinguished by granting permanent visas, including investors and entrepreneurs. The residency of an investor in Dubai is classified as owners of specialized talents and researchers in various fields of science and knowledge. Brilliant students with exceptional scientific abilities are eligible for permanent residence
During the past year, The government was taking unprecedented steps to open the UAE market to global investors with long-term visas, 100% ownership and retirement visas. The permanent residence system is a very important suggestion, Especially when you consider that the UAE is one of the safest countries in the world
Permanent residence aims to attract more foreign investments, stimulate local production, and improve the business environment. and make it more efficient and attractive, and developing competitiveness.
The permanent residency system will encourage more expatriates to invest their assets in the United Arab Emirates. Which will reflect positively on the real estate market and inspire talented entrepreneurs to implement their innovative ideas.
The permanent residency system, which stems from a well-thought-out strategy, will benefit this category of individuals and their families, as they will devote all their capabilities to achieving more excellence in their various fields, in appreciation of the confidence bestowed upon them by His Highness Sheikh Mohammed bin Rashid Al Maktoum.Special categories have been identified. It is covered by the permanent residence system in the UAE for investors, and for exceptional competencies in the fields of medicine, engineering, science and all arts. As for the first category who were granted permanent residence in the Emirates, they are 6,800 investors and residents, and the value of their investments in the country amounted to 100 billion dirhams.
The Dubai government has succeeded in attracting the attention of investors and businessmen from all over the world when revealing the residency system in Dubai . With clear laws and facilities for investors, many people wanted to obtain permanent residence. It is worth noting that when obtaining permanent residency, the investor’s capital must be wholly owned by the investor and not a loan. Submitting evidence proving this while maintaining the investment for at least 3 years from the date of issuance of the permanent residence permit and that the investor’s financial disclosure is not burdened with claims. Or debts affecting his financial solvency of not less than 10 million dirhams
The investor who wishes to reside permanently must have a deposit of no less than 10 million dirhams in an investment fund inside the country.
Either the investor who wishes to reside permanently establishes a company in the country with a capital of not less than 10 million dirhams,
Or the person wishing to obtain permanent residence is a partner in an existing or new company with a share of not less than 10 million dirhams.
Or that the investor who wants permanent residence has several investments in the country with a value of not less than 10 million dirhams. Provided that the investment in non-real estate is not less than 60% of the total of those investments.
Itqan Office provides the necessary consultations for those wishing to obtain permanent residence, contact us now