Dubai has started giving away citizenships
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The "Talented" part is just for marketing purposes. The main purpose is to attract UHNWIs/VHNWs to boost the real estate market of the UAE. I'm expecting min $1-2M real estate investment requirement. And yes it is going to be the best no-tax passport option.
You can expect it more like 5-10m. They won't give away their passports that cheap unless they cut off the benefits for those passports.
This citizenship will be by invitation only. You can not just apply after fulfilling few conditions for it.
Just a few people will have a right to propose a person to be invited.
So, just a plain investment will not make any higher chance to be invited. There are too many people who can bring few millions. They are interested in people who can offer som significant benefits for the country. Like olympic games winners who can win a medal for a country in a next olympic games, or scientist who are developing a technology which can change some industry, etc..
If do not read︀ about you in a local newspapers on a very often period, you can forget about︁ possibility to be invited.. UAE has enough money to invest. They need a human resources,︂ which it is not so easy to obtain like some project financing..
By the way,︃ the most countries in a world offer, just not officialy, a citizenship for a people︄ who make a significant constribution to the country. If you are aolympic games winner, almost︅ any country is willing to offer you a citizenship in exchange for representing this country︆ in a next olympic games.. And it is the same in any field of human︇ activity. If you are top 0,01 %, you are welcomed almost everywhere..
Just a few people will have a right to propose a person to be invited.
So, just a plain investment will not make any higher chance to be invited. There are too many people who can bring few millions. They are interested in people who can offer som significant benefits for the country. Like olympic games winners who can win a medal for a country in a next olympic games, or scientist who are developing a technology which can change some industry, etc..
If do not read︀ about you in a local newspapers on a very often period, you can forget about︁ possibility to be invited.. UAE has enough money to invest. They need a human resources,︂ which it is not so easy to obtain like some project financing..
By the way,︃ the most countries in a world offer, just not officialy, a citizenship for a people︄ who make a significant constribution to the country. If you are aolympic games winner, almost︅ any country is willing to offer you a citizenship in exchange for representing this country︆ in a next olympic games.. And it is the same in any field of human︇ activity. If you are top 0,01 %, you are welcomed almost everywhere..
This is not correct. They already give citizenship with an invitation(called wasta) since 2000.︁ This is a new program and you can get citizenship by real estate investment. They︂ will announce the exact amount of real estate investment very soon. They will also give︃ a citizenship to special people like celebrities, olympic winners, nobel prize winners etc... This is︄ the "marketing" part of the program.
There is also a similar program for residency which︅ is called "Golden Visa". They issue golden visas(5 or 10 year) depends on only the︆ invested amount to real estate in UAE. You don't need any invitation or wasta.
This is also︈ not correct. The UAE economy is facing huge challenges. They introduced tax(VAT) 3 years ago,︉ huge government projects postponed, UAE banks facing high losses, biggest developers(EMAAR, Damac etc...) of UAE︊ in trouble, thousands of merchants closed, they lost at least 50% of qualified expats because︋ of decrease in salaries and real estate prices went down about 50% in 10 years.︌
Obviously, they're still rich because of oil but there are huge problems. That's why they're︍ looking for extra cash to heal the economy. Oil is not enough if you don't︎ manage your money properly:
https://www.thehindubusinessline.co...es-is-running-out-of-cash/article32501780.ece
There is also a similar program for residency which︅ is called "Golden Visa". They issue golden visas(5 or 10 year) depends on only the︆ invested amount to real estate in UAE. You don't need any invitation or wasta.
This is also︈ not correct. The UAE economy is facing huge challenges. They introduced tax(VAT) 3 years ago,︉ huge government projects postponed, UAE banks facing high losses, biggest developers(EMAAR, Damac etc...) of UAE︊ in trouble, thousands of merchants closed, they lost at least 50% of qualified expats because︋ of decrease in salaries and real estate prices went down about 50% in 10 years.︌
Obviously, they're still rich because of oil but there are huge problems. That's why they're︍ looking for extra cash to heal the economy. Oil is not enough if you don't︎ manage your money properly:
https://www.thehindubusinessline.co...es-is-running-out-of-cash/article32501780.ece
As expected, Abu Dhabi just announced their new golden visa program and it is cheaper more than 60% compared to the current one.
- 10-year visa for 2M AED fund/bank deposit investment.
- 5-year visa for 2m AED real estate investment.
You can deposit 2M AED to the bank/fund and you can get a 10-year visa now. You can also withdraw the money after 2 years. It is much straightforward than Spain/Portugal but the downside is this is a residency program, not citizenship. As I mentioned before, I'm expecting a 5-10M AED threshold for citizenship.
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