Coveted for its indisputable allure and innovative nature, the United Arab Emirates is a symbol of ingenuity and a colossal turning point in history! 50 years of growth and novelty, the nation was inspired by our founding father, Sheikh Zayed bin Sultan Al Nahyan’s, vision to birth a country that brings the world closer to the future.
Today, the UAE proudly stands as the gateway to a sustainable and noteworthy tomorrow. A pioneering business hub, tantalising tourist attraction and a warm home for nationals and residents, the UAE has prospered under the guidance of its wise leadership.
Proceeding farther down the nation’s affluent path, we continue to witness changes to laws and legislations that ultimately serve to solidify the UAE’s global standing, cementing its reputation as one of the most revolutionary nations in the world!
New visa regulations
As we’ve previously explored, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced early this year a new set of visa rules that will reshape the country’s landscape. Set to foster the best and brightest the world has to offer, these newest changes aim to nurture the source of the UAE’s ingenuity to structure an indestructible fortress of development.
The new 2022 UAE visa scheme will offer a wide array of benefits to individuals seeking to tap into what our nation has to offer through an extended permit duration, a 6-month grace period, the opportunity to sponsor family members as well as new visa types for talents and skilled workers.
New corporate laws
Reputed for its welcoming and unique business landscape, the UAE never ceases to seek reformations to fortify its robust economic spectrum. Among the notable changes the business landscape has witnessed is the introduction of full foreign ownership in almost all industries, other than those of national importance to the UAE economy, such as oil and gas.
Furthermore, the government introduced plans to apply a new federal tax law during the second half of 2023—a paradigm shift for a country that has long harboured a status as a tax-free commerce hub, though a strategic decision to bolster the UAE's standing as a gateway for international investment and development.
New investment capital law
Dubai’s ruler Sheikh Mohammed bin Rashid Al-Maktoum enacted a new law to promote the growth of real estate investment funds in Dubai, boosting foreign capital. Granting a set of privileges to investors while increasing transparency and governance, the new law will serve as a solid foundation for growth as the nation moves forward.
On our way to the Next 50, we contemplate the advancements that have turned the UAE into a sought-after oasis and a monument of prosperity in the Arabic peninsula and the world. Whether you’re looking to settle in one of the emirates or thrive in its business ecosystem, contact us at info@albengroup.com, and we’ll be ready to help you unlock the future!