The UAE made essential changes to the UAE citizenship law. The government will allow qualifying investors and expats with unique talents to live with their families. The UAE’s demand for citizenship through investment and Golden Visas is booming.
Immigration Consultancies say that many European, North American, and Caribbean countries offer full citizenship through programs to high-net-worth and ultra-high-net-worth individuals; still, the Golden Visas of UAE are becoming a goldmine for foreign investors.
Zamanian, the US Licensed lawyer, said, “Many Americans arrive with the means and see the value in investing in the UAE economy and being granted the Golden Visa. We expect a high volume of foreign direct investment built upon UAE initiatives. But once the dollar is in, it will give American nationals the book of Golden Visas.”
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Preeya Malik, the Director at STEP Global, said, “For CBI (citizenship by investment) programs, interest has been rising over the last seven to eight years at approximately 30 percent annually. Some years are less, and some show more interest, depending on the immigration policy.”
She later added that “2021 was one of the best years in terms of application rates. Though globally, there was only a slight uptick(/maybe 15 percent ) from 2020, which was lower than the typical increase we have seen year-to-year in other years. In 2019, the application number for EB-5 was s so high from Indian nationals that it has now caused a backlog in processing time which is currently being cleared.”
Sebastian Michael, Director Of Uno Capital, also stated that The increase in interest in Golden Visas and CBI programs came from market disturbance brought about by the COVID-19 pandemic. The programs are even growing in popularity among individuals in the mid to high-income brackets.
Mimoun A. Assraoui, RIF Trust’s CEO and Latitude Group’s Vice Chairman, also said, “Theninveatembt migration industry has grown globally from $2.9 billion in 2011 to $21.4 billion in 2022, and we are happy to receive more inquiries year to year. “
Nations with citizenship programs want to bring more talent into their countries with the help of these opportunities.
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The demand for residence and citizenship programs continues to prosper among the residents of UAE, said Assraoui. He added, “Wealthy individuals from different countries like Nigeria, Syria, Iraq, Yemen, and Egypt are exploring Residency and Citizenship by Investment programs for securing the future of their families with a modern-day Plan B.”
Conclusion
The report mentioned above states about the CBI program, which is carried on by the investors, and also about the Golden Visa, which is being used for these investors and expats from foreign countries, which will allow them to settle in the UAE under these programs.
