Law

Can Foreigners Get UAE Passport by Investing?

The UAE has made significant investments in luring international investors and bright and experienced individuals interested in coming to the Middle East and acquiring a Dubai investment visa, and as a result, it has emerged as a leader among the Gulf Cooperation Countries (GCC) in recent years, especially for the New Company Registration In Dubai.

When the UAE government launched the citizenship by investment program in 2021, one of the biggest developments occurred. This allowed foreigners to apply for UAE passports without having to pass through some of the most onerous conditions enforced on a global scale. Our immigration attorneys in Dubai will outline the key needs of this new program from the standpoint that the majority of foreigners choose Dubai.

The UAE’s decision to provide citizenship to foreigners: why?

With its “Plan of the Century,” the government of the United Arab Emirates is hoping to draw talented individuals to the country in order to advance its growth. The UAE wants to be a world leader by the time it celebrates its 100th birthday in 2071, therefore it is making investments in four key sectors: social life, government, economic development, and education.

Investment-based citizenship in Dubai

In contrast to other nations, the United Arab Emirates does not require foreign nationals who wish to get citizenship by investment in Dubai to submit any applications; instead, Executive Councils, Rulers, and Crown Princes Courts will choose candidates.

Who is eligible to obtain UAE nationality and a passport?

For individuals who are interested, starting businesses in Dubai also gives them the chance to obtain a Dubai investment visa. In addition, their spouses and minor dependant children may be included in the application for a UAE passport through investment.

Foreigners who can seek UAE citizenship fall into several categories according to new regulations.

Doctors and highly competent experts

  1. Must have a distinct scientific specialty and be able to demonstrate that their approaches are in demand in the UAE.
  2. For the continuous scientific study, the contribution must be acknowledged.
  3. have at least ten years of professional experience.
  4. Become a member of an organization with a solid reputation in its area of scientific expertise.

Scientists

  1. 10 years or more of combined academic and professional experience.
  2. Candidates must have held a position at a research center, a university, or the business sector with an active research career.
  3. having obtained a sizeable research grant during the previous ten years or having won at least one important international award for their contributions to scholarship.
  4. Offer a recommendation letter from a reputable academic institution.

Inventors

  1. A letter of reference from the Ministry of Economy should be provided.
  2. Have a minimum of one patent authorized by the UAE Ministry of Economy or another respected international organization.

Those with artistic abilities

  1. Must be a leader in their industry.
  2. Have a minimum of one patentable innovation registered with a worldwide organization.
  3. own one or more accolades from abroad for accomplishments.
  4. A letter of advice from a government organization with expertise in their area.

The primary nominee and his or her immediate family are included in the program since they are eligible to immigrate to Dubai with their families.

The prospect of obtaining citizenship through investing in Dubai-based enterprises

Dubai has always been welcoming to international investors interested in starting their own firms in the United Arab Emirates, but according to the new immigration regulations, things have improved even more. Instead of only being able to acquire a 49% stake in a Dubai-based company as they could before, foreign investors may now completely own one.

Foreigners who own real estate and wish to launch their own enterprises now have the opportunity to apply for citizenship through investments made through Dubai-based firms and secure a visa for Dubai investments.

This is a fantastic option for business people looking to invest their way into UAE residence while generating excellent money in one of the most important centers of New Company Registration In Dubai.

Is it possible to immigrate to Dubai for residence or citizenship through investment?

The choice between residency or citizenship by investment in Dubai is available to those who are interested in moving to the UAE or obtaining citizenship via investment.

The fundamental distinction between the two is that, although there are no limitations on who can apply for residence, candidates for citizenship in Dubai are chosen by the Executive Council, Ruler, or Crown Prince Courts.

In addition to this, the Dubai resident program has the following investment criteria.

  • An investment by the government in a variety of assets totaling at least 10 million AED, or around 2.3 million USD.
  • Acquisition of real estate with a minimum value of 1 million AED, or around 273,000 USD.
  • Formation of a firm, which might involve investing in a project with a minimum capital need of 500,000 AED.

Each investment option offers permanent residency in the UAE through investment for the primary candidate and their immediate family members, followed by citizenship, for those who are interested.

There are numerous residence possibilities available to anyone who desire to seek citizenship through investing in Dubai-based businesses.

The advantages of becoming a citizen of the UAE

The UAE passport is ranked 13th in the world by the Passport Global Index and is accepted anywhere in the globe, including in 170 nations. Additionally, its owners enjoy a number of benefits, including.

  • the unrestricted ability to own businesses and property in any region of the Emirate.
  • the option of receiving free healthcare and education.
  • lowering the price of food and living expenses
  • employment in government organizations.
  • the choice for social security.
  • For people with at least 20 years of work experience, the retirement age in the UAE is 49 years old.

Conclusion

Whatever method you choose to use to obtain a UAE passport through investment, our attorneys in Dubai are here to provide you with specialized immigration assistance. Never hesitate to get in touch with us if you need advice. We can assist you in securing a visa for investing in Dubai as quickly as feasible.

Kate

Kate Johnson is a content writer, who has worked for various websites and has a keen interest in Forex and stock market. He is also a college graduate who has a B.A in Journalism.

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