The United Arab Emirates (UAE) implemented a new long-term residency visa system in 2019, allowing foreigners to live, work, and study in the UAE without the need for a native guarantor and with full ownership of their firm.
Following the economic disruption caused by the pandemic, the amendment was enacted in order to recruit new foreign immigrants, mostly to the emirate of Dubai.
The United Arab Emirates (UAE) has been one of the most popular countries for people with high net worth to reside in over the last several years, even becoming a favored option to establish companies.
The UAE is an appealing residence jurisdiction, with no income tax, property and capital gains taxes, or net worth taxes imposed on people, simple administrative procedures, and cheap processing expenses, as well as political stability and great accessibility.
UAE residency visa allows foreigners to live and work in UAE for a long period of time. It is valid for 2-10 years and can be renewed multiple times.