To attract more investors in the emirate to UAE, Asia, holders of golden visas in Abu Dhabi are provided with specific business incentives.
A branch of UAE’s Department of Economic Development is the Abu Dhabi Residents Office. According to this office, investors will be eligible for discounts and incentives on vehicles, real estate, medical services, hospitality, medical insurance, and financial services.
Golden Visa Privileges in Abu Dhabi
The office has partnered with businesses from a wide range of industries to provide bonuses.
It announced that the goal is to assist in speeding up golden visa holders’ integration into Abu Dhabi’s business community and further stimulate investment in the UAE’s economic growth.
“We’re taking all required measures to guarantee that our critical areas have an ongoing supply of world-class expertise,” said the office’s interim executive director, Hareb Al Mheiri.
“We are obligated to provide golden visa holders with services and privileges that will allow them to live comfortably in Abu Dhabi while also contributing to the growth of their enterprises and investments.”
Golden visas, lasting for up to ten years, were created to encourage “outstanding workers and international investors” to establish strong roots in the UAE.
According to the office, Abu Dhabi’s golden visa program provides talented and specialized individuals with long-term residency for five or ten years.
Doctors, scientists, and innovators are examples of specialists and researchers in the disciplines of science and technology.
The initiative is also available to exceptional creatives and athletes in the UAE and commercial and real estate developers and investors.
Per the Abu Dhabi Residents’ office’s website, the golden visa is also available to high-achieving students in universities and high schools in Abu Dhabi, and it includes their parents and dependent siblings.
Per the Investment Migration Insider, a journal devoted to the business, the worldwide residency citizenship-by-investment market is worth $21.4 billion per year in 2019. According to the publication, the business might produce $100 billion in sales by 2025.
Based on what the International Monetary Fund stated, the cost of second citizenship (also known as a “golden passport”) or permanent residency (often known as a “golden visa”) varies from $100,000 to $2.5 million.
In the 1980s, wealthy foreigners began flocking to tax havens in the Pacific and Caribbean that had low tax rates.
Abu Dhabi golden visa holders will receive discounts at developer Imkan Properties under a new commercial partnership between Abu Dhabi Residents Office and Imkan Properties.
In addition, Abu Dhabi Commercial Bank and First Abu Dhabi Bank are offering discounted fixed mortgage rates for real estate golden visa investors and attractive savings rates for investors other than real estate.
According to the statement, customers who hold Golden visas are also eligible for reduced prices on cars, priority bookings, maintenance offers and licensing.
They will also get exclusive discounts on dining, spa treatments, gym memberships, and hotel stays at select Abu Dhabi hospitality spots.
According to the agency, the perks will also include lower rates on yearly health insurance policies for families, as well as diversified network coverage and a bunch of advantages inside and outside the UAE.
According to Mr. Al Mheiri, the agency is trying to broaden the privileges and promotions to incorporate additional visa category holders.
Foreign citizens in Dubai who hold a golden visa and a driver’s license from their homeland may now take a UAE test without the obligation of taking additional lessons, the administration announced in January of this year. They are instantly qualified for a UAE license if they have a driver’s license from one of the 32 authorized nations.
Countries that have been approved include:
| The United States, | The United Kingdom | Ireland | Qatar |
| Italy | South Africa | Kuwait | New Zealand |
| Spain | Saudi Arabia | Australia | |
The Masdar City Free Zone in Abu Dhabi processes golden visas for individuals and their families who qualify.
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