Abu Dhabi Global Market is easing the way for recipients of the UAE’s recently introduced golden visa regime through a cooperation agreement with the Federal Authority for Identity and Citizenship (FAIC).
The cooperation agreement was signed by Brigadier Saeed Salem Al Shamsi, executive director of the General Directorate of Residency and Foreigners Affairs in Abu Dhabi and Dhaher bin Dhaher AlMheiri, CEO of the ADGM Registration Authority.
The aim is to “facilitate business operations and create an attractive investment environment for companies and entrepreneurs” the parties revealed in a joint announcement on 8 January.
“The Registration Authority will provide the necessary support to FAIC to issue golden visas via ADGM’s e-portal. The new visa will include certain categories of investors, entrepreneurs, professional talent researchers and outstanding students. The visa issuing process will be in alignment with the terms and conditions specified in decree no. 56 from 2018”, it stated.
The Registration Authority will have “exclusive rights” to issue golden visas in the Emirate of Abu Dhabi.
New partnership
Brigadier Saeed Salem Al Shamsi, executive director of the general directorate of residency and foreigners affairs in Abu Dhabi said: “We are continuously working on establishing new partnerships with both public and private sector entities to maximise efficiency, support the sustainable development process and provide an ecosystem that retains professionals and talents who will pave the way to a better future.”
Dhaher bin Dhaher Al Mheiri, CEO of the Registration Authority of ADGM said the agreement came about as part of its efforts to promote the UAE and Abu Dhabi’s position as an international investment destination.
“At ADGM, we always strive to collaborate with local and federal entities in line with the Abu Dhabi vision of achieving the highest level of government service integration. The new golden visa will surely contribute to the country’s development process and in building a knowledge-based economy that includes talents and professionals from all around the world.”
Sheikh Mohammed bin Rashid publicly announced on 21 May 2019 a system “to grant permanent residency to investors and exceptional doctors, engineers, scientists and artists”.
The scheme is open to four groups: investors; entrepreneurs; special talents & researchers in scientific and knowledge fields; and high calibre & outstanding students.
For the investor group, they need to put AED10m in a fund or AED5m in real estate.
