Breaking news: New privileges for foreigners in Dubai

The governments of Dubai and Abu Dhabi decided on May 20th 2018, that investors and talented people are eligible for a 10 years residence visa.

Also, business people will soon be able to own 100% per cent of their companies in the UAE contrary to only 49% per cent today. These new rules make the Emirates even more attractive for foreigners than ever before.

On May 20th 2018 the rulers of Dubai and Abu Dhabi announced the launch of an integrated visa system aimed at attracting professionals and talented people in all vital sectors with a 10 years UAE residence visa. Students can get a five years Visa. The Cabinet also announced changes to the foreign ownership system of companies in the UAE approving a decision allowing 100 per cent ownership of UAE based enterprises for international investors (until today only 49 per cent ownership was possible).

The new laws will be implemented by the end of the year.

The UAE already ranks first in 11 global indices among six different reports (2017-2018) issued by the World Economic Forum (WEF), the World Bank Group (WBG), the European Institute of Business Administration (INSEAD) and the International Institute for Management Development (IMD). The new rules on Visas and investment enhance the countries competiveness levels globally.

UAE also ranked first in Ease of Paying Taxes. IMD reported, that the UAE came in first in the Collected Personal Income Tax (per Cent).

For further information you may contact international boutique law firm, Legal Alliance, headquartered in Munich, Germany. The CEO of Legal Alliance, Dr. Michael Scheele, who is also licensed as legal counsel in the UAE, has just been awarded TOP 100 lawyer, for private law, Germany by international magazine Lawyers Monthly.

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