Dubai has retained itself as the leading hub for residence and citizenship by investment (RCBI) for the second year, making itself stand out again.
The recognition comes as over 150,000 Golden Visas have been issued by the Emirati authorities according to a report by Swiss boutique firm Passport Legacy.
The report states that UAE leads the world with 35 international RCBI specialists in 2022, climbing up from 30 in the previous year.
It highlighted that the nation will be able to “sustain its growth with the minimum investment required recently having been reduced and access being opened up to talented individuals across multiple industries”.
The UAE Golden Visa seems to have put UAE in the spotlight as demand for it is rising with each passing day. The UAE’s Golden Visa is one of its kind as its benefits extend to immediate family members.
Under the Golden Visa, children can be sponsored by a Golden Visa or Green Residence visa holder until the age of 25( previously the age cap was 18 years) with no age limit for unmarried daughters.
Moreover, the Golden Visa is also attracting workers from across the world because children of determination are granted a residence permit, regardless of their age.
First implemented in 2019, the UAE Golden Visa residency programme enables expats to live, work, and study in the UAE without the need of a national sponsor and with 100 percent ownership of their business on the UAE’s mainland.
With the promulgation of Fresh regulations, the UAE Golden Visa will grant 10-year residence to investors, entrepreneurs, exceptional talents, scientists and professionals, outstanding students and graduates, humanitarian pioneers, and frontline heroes, who pass certain eligibility benchmark.
The UAE authorities seem to be opening up the land to professionals and highly skilled workers with educational qualifications and professional experience in all disciplines who can now qualify for a Golden Visa and set the tone for their personal and professional success.
The workers engaged in medicine, sciences and engineering, information technology, business and administration, education, law, culture, and social sciences can apply for the Golden Visa.
Commenting on the report, Passport Legacy UAE HQ managing partner and founder Jeffrey Henseler said that UAE’s rank as the best RCBI hub in the world is based on multiple appealing factors such as world-class infrastructure, a business-friendly environment, a strategic geographic location, and favourable government policies promoting trade and investment.
‘This has also helped the country stand pat with the first-ranked passport in the world,’ he added.
Henseler was of the opinion that with approximately 5,000 people around the world looking to get dual citizenship through RCBI each year, and the ongoing success of the UAE Golden Visa incentive, the country will continue being increasingly sought after as a leading destination of choice.
The UAE is bagging multiple awards when it comes to immigration as its passport is also the world’s most powerful travel document.
Travellers carrying a UAE passport can enter 180 countries hassle-free; this means seven more countries than European countries such as Germany and Sweden, and nine more than Japan, whose travel document was ranked as the world’s best earlier this year in a list published by Henley & Partners.
