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Announcement will help UAE attract, retain talented foreign professionals, scientists and entrepreneurs
Investors and industry professionals have welcomed the UAE’s decision to grant citizenship to select foreigners.
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Rizwan Sajan, Chairman of Danube Group, said this is a game-changing initiative that will help reshape and re-energise the UAE in years to come.
“It is the most exciting piece of news that we have come across in a long time. It will help us join hands with our Emirati friends in reshaping the future of this excellent nation, that we can call ours also.
“The UAE has been a land of opportunity and has attracted international talented professionals and entrepreneurs from all over the world that helped us – foreigners – not only to grow, but also contribute to the UAE society and economy,” said Sajan.
“Since 2019, the UAE Government has been actively considering expanding the visa regime to help retain talents. As a result, a 10-year Gold Visa was introduced. Today’s landmark announcement to offer citizenship to talented foreign professionals, scientists and entrepreneurs will attract global talent pool that will help the country in spearheading innovation to take the UAE ahead of many other countries,” said Danube chairman.
Kamal Vachani, Group Director of Al Maya Group, said: “We are thrilled to learn the news about the announcement of citizenship for investors, doctors, scientists and skilled professionals.”
He said this will bring “more stability” and attract more investments to the country. “This is an extremely positive move and we congratulate the Rulers for this great decision.”
Nimish Makvana, Senior Partner, Crowe MAK, said this is a “game changer decision” by the leadership of the UAE.
“With such a major change, the UAE will attract the best talents across the globe and also retain existing ones in the country. With the new announcement, intellectual and extraordinary talents will flow to the UAE.
“The law allows receivers of the UAE passport to keep their existing citizenship and will bring confidence and investments not just for the current generation, but for the future ones, too. The UAE is home to millions of expatriate residents and (this decision) will make the country the first home for many.”
Ahmed Shaikhani, president of the Pakistan Business Council, said the decision is part of a “broader vision of the UAE’s leadership” to take the country to the next level of growth.
“This decision will have a positive long-term impact on the economy and investment. Real estate plays a big role and people will invest in the sector with a long-term view. This decision will also enhance loyalty of the professionals within the country,” said Shaikhani.
Iqbal Dawood, director of the Pakistan Business Council, said this will support economic activity as well as attract more high net worth individuals into the country.
“Foreign direct investments will increase substantially. Confidence and stability of people will also improve and people will look at more long-term investments,” said Dawood.
waheedabbas@khaleejtimes.com
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