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

Ogun State Governor to conduct groundbreaking for reconstruction of Lagos Toll-Gate-Sango-Abeokuta expressway on Friday Aug 23

..as Craneburg continues interim repairs on Ilepa , Bosun , Pakoto, Ifo, Ewekoro, Itori, and Obada area Oredola Adeola Relief is in sight for motorists on the Lagos-Ota-Abeokuta Expressway, as Craneburg, the contracting firm, has commenced the much-anticipated reconstruction of the heavily trafficked route. The official groundbreaking ceremony for the project is scheduled for Friday, August 23, and will be led by Ogun State Governor, Prince Dapo Abiodun. The Contractor , Craneburg Construction Company Ltd, began mobilizing its equipment to the site about 10 days ago, initiating palliative measures on one side of the road to ensure it remains passable while full-scale reconstruction commences on the opposite side. The interim repairs, which have already been carried out, span the Sango-Ota, Ilepa , Bosun , Pakoto, Ifo, Ewekoro, Itori, and Obada areas, with stone bases laid on the most deteriorated sections to ease the burden of travel during the construction period. The expressway

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 aspe

Lagos Assembly mulls Ambode's impeachment

Members of the Lagos State House of Assembly have commenced an impeach move against Governor Akinwunmi Ambode , alleging him of gross misconduct. Speaker LHA Rt.Hon. Obasa and Governor Ambode The lawmakers who discussed the issue at the plenary session on Monday, however gave the state Governor a one-week ultimatum to appear before them to defend allegations of misconduct and infractions levelled against him. Advertisement They vowed to proceed with the impeachment process at the expiration of the ultimatum.

The Editorials

Search This Blog