In an effort to draw in more educated workers, the United Arab Emirates has implemented new visa regulations. Abu Dhabi aims to recover from the COVID-19 pandemic’s consequences and foster economic prosperity.
Gulf News, a regional source, reported The director general of residency and foreigner’s affairs, Major General Sultan Yusef al-Nuaimi, thinks the new regulation would affect the country’s reputation and favorability among international investors. The purpose of the visa regulations is to improve quality of life and make life, working, and investment in the UAE a delightful and pleasurable experience.
The country’s recruitment and residency policies have undergone the greatest shake-up since the programs were introduced on Monday, according to local media.
Longer 60-day tourist visas that let professional employees to live in a country for an extended period of time are among the improvements. Another benefit is easier access to the UAE’s 10-year Golden Visa program.
The latter refers to visas provided to exceptional international employees and brilliant pupils. Golden Visa aims include those who can live in the country without the requirement for a national sponsor and have public investments of at least 10 million dirhams (about $2.7 million).
Every ten years, the goals are subject to renewal. Furthermore, the winners, who may either apply online or be recommended by Emirati government agencies, can control 100% of their mainland enterprises.
Additionally, a flexible, multi-entry tourist visa with a five-year validity period was launched, enabling visitors to remain in the UAE for up to 90 consecutive days. A sponsorship or hosting who is an Emirati is not necessary for the work exploration visa.
Candidates for the Green Visa no longer need to rely on a company or UAE citizen to sponsor them. Investors, skilled employees, independent contractors, and freelancers are eligible for the Green Visa.
Economic Boost Vis-à-vis Financial Obscurity
During their stay, they can also support first-degree relations. If the group’s residency license is revoked or runs out, they are furthermore given a grace period of up to half a year.
The United Arab Emirates has experiences a boost in its economy following the containment of the Pandemic and related restrictions. The country, however, is at the center of criticism for its role in money laundering for regional terrorist groups.
Dubai, the business heart of the country, is considered a regional hub for terrorist groups like the ISIS and Al-Qaeda. Large holdings and companies assist the complex process of supplying the terrorists with financial resources and military equipment.
The Financial Action Task Force, known as FATF, put the country in its gray list for an alleged negligence towards financial transparency. It occurs after some leaders in the community claimed that the Gulf country had not made satisfying amendments in combating illegal money flow.
The global concerns about UAE’s turning into an international haven for illicit money transactions seem relevant. As a senior expert in Washington Institute explains, “The UAE has inherent vulnerabilities to illicit finance due to its role as a regional commercial and financial hub.”
The emirate’s tensely private institutions and unavailability of procedures to hold leaders responsible are also of big concerns. In UK, the US, and many other western states, corrupt oligarchs and terrorist groups are also actively working. In those states, however, these groups are subject to more monitoring from the press, and social groups than in Dubai.
Public elections, a free media, a vibrant civil movement, and the freedom to nonviolent demonstration are all forbidden in UAE. Emirati rulers are free to oppose changes that threaten their special benefits in the absence of local and global intervention.