Since its initial introduction in 2019, the UAE Golden Visa has now been issued to 65,000 individuals across sectors such as entrepreneurship, science, and healthcare, to name a few, according to a new report released by UAE-based Swiss passport firm Passport Legacy.Â
Findings reveal that more than 88 percent of the UAE’s population is made up of expatriates who rely on valid visas to live and work in the emirate, and the country’s Residency-by-Investment program has been sought out as a means of greater stability.
Multiple added benefits have now strengthened the appeal of the UAE Golden Visa, including the ability to sponsor family members and the recent announcement of a government-issued Esaad card which was previously only available to select government employees. As a result, holders of the Esaad card are granted exclusive access to offers and discounts to thousands of businesses not only in the UAE but also across 92 countries.
Moreover, the global Citizenship-by-Investment (CBI) market is projected to reach $100 billion by 2025, marking nearly a 5x jump of $80 billion from its current evaluation of $21.4 billion. This huge spike in favorable sentiment toward such programs came on the heels of market disruption via the COVID-19 pandemic but has stood to remain increasingly popular among rising global inflation rates and a turbulent economic landscape.
Globally, COVID-19 saw remote and hybrid work models being adopted at scale. While pandemic recovery has improved, these new ways of working have held steady for many organizations. Research shows that 16 percent of companies around the world are now fully remote and resulting workplace productivity has surged by 22 percent. Investment in CBI is thus becoming more appealing with employers providing more flexible work schedules and timings, as employees can freely travel between or relocate to alternate locations.
