UAE adopts new VISA policy for foreigners, offers 100% ownership for foreign owned companies

The United Arab Emirate (UAE) Cabinet, under the leadership of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, at a cabinet meeting held on Sunday, announced the government’s decision to permit 100% foreign ownership of companies established in the country.

H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, at the Cabinet meeting on Sunday

The Cabinet also agreed that UAE will adopt a new visa system for international “investors and talents,” by offering them long-term 10-year visa for certain categories of professionals.

Sheikh Mohammed during the meeting directed the Ministry of Economy to coordinate with concerned parties to implement the resolution, and follow up on its developments, promising that the Cabinet’s decision will be enforced by third quarter of this year.

Speaking shortly after the meeting , UAE Prime Minister said, “ At Sunday's Cabinet meeting, we decided to allow 100% foreign ownership of companies in UAE, with a 10 year visa for investors, scientists, doctors, engineers, entrepreneurs and innovators.

“The UAE has always welcomed, and always will, innovators and business leaders. This decision will be enforced by third quarter this year. Our open society, tolerant values, excellent infrastructure and flexible legislation offer the best environment for international investment and exceptional talent.

He further added that , “The UAE will also review its current residency system to extend the time for the dependent students after completing their university studies, which will give opportunity to consider their practical options in the future.

"The UAE will remain a global incubator for exceptional talents and a permanent destination for international investors.

“Our open environment, tolerant values, infrastructure and flexible legislation are the best plan to attract global investment and exceptional talents in the UAE, “ said Sheikh Mohammed.

The UAE’s Ministry of Economy, has been mandated to coordinate the implementation of the new policy. The Ministry is also expected to follow up on its developments with a report due to be submitted to cabinet in Q3 this year.

Comments

MMA is a disgrace to Nigeria, the designer is a traitor – Tunde Alabi-Hundeyin writes VP Osinbajo

Oredola Adeola| Movie and Documentary producer, Tunde Alabi-Hundeyin Dudu, has exposed the level of rot at the Muritala Muhammed Airport, Lagos in an open letter written to Professor Yemi Osinbajo, Vice President. In the letter, the Documentary photographer, disclosed that the arrival system in Muritala Muhammed airport is a disgrace to Nigeria. He particularly noted that Nigeria has no aviation Minister, adding that whosoever designed the arrival system in MMA is a traitor. Tunde Alabi-Hundeyin He said, “Sir I’m directing my comments to you because I’m aware you toured that airport before the elections. They showed you the glittering lounges . However when you arrive in Nigeria or you go to receive someone arriving, it’s a horror story. It’s a total disgrace. Let me explain. “I had cause to go and welcome someone coming in from the US. We parked in the designated car park. Then the obstacles started. The path you have to trek to get to the front of the arrival hal...

Rosatom's TVEL, AllWeld Nuclear, industrial agree to cooperate nuclear backend area

Allen Atwiine, Uganda The TVEL JSC, Managing Company of Rosatom's Fuel Division, and AllWeld Nuclear and Industrial, a South African firm, have signed a Memorandum of Cooperation which is focused on decommissioning and radioactive waste (RW) management at nuclear facilities in South Africa. The memorandum was signed by the party during the African Energy Week (AEW) 2024 in Cape Town on Tuesday. The Editorials gathered that the Memoradium outlined a framework for cooperation and the implementation of joint initiatives. Our correspondent gathered that the document was signed by Eduard Nikitin, Director for Decommissioning and RW Management at TVEL JSC, and Mervyn Fischer, CEO of AllWeld Nuclear and Industrial. Nikitin explained that the memorandum outlined plans for collaborative efforts in scientific, technical, and commercial activities related to the decommissioning of nuclear power plants and other facilities that pose nuclear and radiation hazards. He said, "The key...

Wikimedia Nigeria Foundation honours Folorunsho Coker, Kayode Akintemi

Oredola Adeola Wikimedia Nigeria Foundation has honoured Mr. Folorunsho Coker, Director-General of National Tourism Development Commission (NTDC) and Kayode Akintemi, Managing Director, Plus TV Africa, with Distinguished Personality Award for their contributions to the growth and development of open knowledge in Nigeria. The award ceremony was held at the Plus TV Africa studio in Victoria Island, Lagos at the weekend. Mr. Olaniyan Olushola, President, Wikimedia Nigeria Foundation Inc., while congratulating the award recipients, encouraged them to continue to promote open knowledge in Nigeria. The NTDC boss, according to Wikimedia, is a dominant force in the promotion of diversity in the Nigeria tourism sector and open knowledge in the country, adding that the NTDC under Coker has been supporting Wikimedia outreach programs (Wiki Loves Monuments, Wiki loves Earths). Olushola said, “Through the support of NTDC, professional photographers working with Wikimedia have received limitl...

The Editorials

Search This Blog