For the second year running Dubai has been named the leading hub for residence and citizenship by investment (RCBI), with over 150,000 Golden Visas issued.
Research by Swiss boutique firm Passport Legacy found that the UAE leads the world with 35 international RCBI specialists in 2022, climbing up from 30 in the previous year, the report said, adding that Emirates 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 scheme continues to grow in popularity, with more than 150,000 people signing up to it.
The Golden Visa can be extended to family members. Children can be sponsored by a Golden Visa or Green Residence visa holder until the age of 25 – an increase from the previous limit of 18 years – with no age limit for unmarried daughters. Children are granted a residence permit, regardless of age.
The UAE Golden Visa residency programme was first implemented in 2019 and 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.
Under the new regulations, the UAE Golden Visa offers a 10-year residence to investors, entrepreneurs, ‘exceptional talents’, scientists, professionals and outstanding students and graduates, among others.
Passport Legacy UAE HQ managing partner and founder, Jeffrey Henseler, said: “The UAE’s rank as the best RCBI hub in the world is supported by several 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.”
Henseler added: “With approximately 5,000 people around the world looking to secure dual citizenship through RCBI each year, and the ongoing success of the UAE Golden Visa incentive, the country will continue being increasingly sought out as a leading destination of choice.”
Warning over misleading adverts
The UAE authorities are warning companies against publishing misleading advertisements which do not represent available and real job opportunities in the private sector.
The Ministry of Human Resources and Emiratisation (MoHRE) also said companies must not refer to the government’s Emiratisation policies or benefits, when advertising for Emiratisation jobs. They can only do so if they obtain permission from the Ministry.
In a statement MoHRE said: “Expanding Emiratisation in the country requires regulating all aspects and components. We are keen to specify the duties and obligations of all parties, set laws to regulate recently observed violations through intensifying inspection visits, define necessary measures and ensure that all parties follow them.
“The move is part of the Ministry’s efforts to ensure proper compliance with Emiratisation systems, job advertisements, and employer obligations when hiring a UAE national and, in return, enabling the national to perform his/her work and obligations.”
UAE business owners must ensure Emiratis perform their duties by enabling an appropriate workplace, with the required tools “besides offering them the minimum on-the-job training and skills”.
Business owners are also being warned not to take deductions from Emiratis’ salaries under the pretext of benefiting from the government’s support programme.
Employers are also obliged to register UAE nationals and pay monthly pension and social security contribution, MoHRE said. It added that if an Emirati leaves employment or their contract is terminated, the employer must cancel the Emirati’s work permit and report any change to the employment contract.
The ministry is also reminding employers of the rules around Emiratisation. It said: “The ministerial resolution defines fake Emiratisation as a forged employment of a UAE national by issuing a work permit under his/her name and registering the employee in the facility for a purpose other than the intended purpose of the permit, as well as the finalisation of a work contract with an objective to circumvent the laws and ministerial resolutions that regulate the work of Emiratis in the private sector aimed at unlawfully benefiting from the government support systems and incentives related to the employment of UAE nationals.”