The capital city of UAE has introduced an initiative to offer citizenship and long-term visas for expatriates. The “Thrive in UAE” initiative aims to welcome more people to the Emirate who can indeed contribute to the economic growth.
Department of Culture and Tourism came up with UAE’s five-year Culture Sector Strategy in November 2019, offering visas to creative individuals. The expatriates who wish to join the Emirate’s entertainment and media industry or to even support the development of understanding the past can grab this opportunity.
The innovators can avail funding and incentives and can even be part of the R&D ecosystem. In the IT sector, more than 100 tech start-ups have settled in UAE’s tech ecosystem Hub 71 since its launch in March 2019. The sector had raised AED 185 during the process and has also witnessed a considerable growth of 191% in the past one year from January 2020 to January 2021.
The initiative also offers students and PhD graduates an opportunity to learn AI and coding at the academic institutions which will benefit the future of the students and the world.
As for the investors, they can expand their business by investing in financial services, health sector, tourism and other sectors and even the real estate sector from which they can retire later on.
In addition to it all, UAE Department of Finance recently announced a financial support for SME’s of AED 6 billion.
UAE as a country has proven to be the best place for investment over the past years. They have been supporting the people and their living before and during the global pandemic. The financial aids provided by the country are worth mentioning as it has been of tremendous help to the people.
