Dubai is one of the most cosmopolitan cities in the United Arab Emirates located on the southeast coast of the Persian Gulf it is has emerged as a global city and a business hub. The city that has an Emirate’s western-style of operation hosts multi-national organizations that are a major input to the economy it has also been named the best tourist destination with a showcase of beautiful beaches, shopping malls, large construction projects, real estate and skyscrapers, in particular, the world tallest building Burj Khalifa. With many visitors the luxurious hotel industry has developed exquisite rooms being rated as the second most expensive in the world.
In such an environment economic growth is at a very high rate because areas that have a fast development potential complement the others, for example since there are lots of hotels the food sector has to grow to cater for the industry needs. It is such opportunities that have engrossed investors to seek Citizenship by investment services so that they can establish their businesses or make investments into such an economy that is full of potential.
Next Generation Equity (NGE) is a firm that helps individuals who want to have dual citizenship through investing in a particular country. NGE listen to a client’s needs then go ahead and tailor make residency options that meet their particular want and budget, they can also act as advisers to certain regulatory requirement and offer support on getting the right documentation. Dual citizenship in Dubai is not usually possible unless the person rescinds their original nationality. There is an option to get a permanent residency visa through a program that gives people a chance to choose between three investment opportunities:
- Establish an Enterprise in the UAE. An individual can pay a fee then establish a company in Dubai however, in such a case the individual cannot be employed by any other company. This would limit his operations if the applicant had ideas of getting involved in other established companies.
- Invest in a local firm. Another option under this method is for the applicant to invest in a local firm which would give them more flexibility and independence. Such a visa when given is usually valid for a period of three years provided the businesses license is valid within this period, the applicant seeking to invest in a company should ensure the company has enough visa quotas.
- Invest in real estate. The minimum investment requirement is 1 million AED, the residence visa is issued once purchase has been made and there is a title deed to prove ownership an extra 10,000 AED is needed as monthly income. Such a visa is durable for a period of two years.
This visa program can allow the applicant to act as a sponsor for his family members to apply for a residency visa but you have to provide attestation of a monthly income of 4,000 AED and give the authorities a lease agreement of the place where the family would be staying.
Benefits of Citizenship by Investment Services
- Greater opportunities. The investor gets access to wide markets as a permanent resident. The family also gets access to the best amenities such as schools and hospitals.
- Tax benefits. Being a permanent resident of UAE an individual can take advantage of beneficial tax regimes for their investments and personal incomes.
- Increased mobility. With the resident visa, a person is eligible for multiple visa-free or visa-on-arrival destinations across the globe making it convenient for the business persons to travel and trade across international markets with little bother.