The minimum investment to apply for a Property Visa in Dubai has been reduced to 750,000 AED, according to information available on the Dubai Land Department’s website. Previously, it was 1 million AED. This option is available through DLD’s Taskeen Programme, and permits an individual who owns a property valued at 750,000 AED or more at the time of purchase … Read More
100% foreign ownership in mainland companies to start from June 1st 2021
The previously announced commercial law allowing 100% foreign direct ownership in local UAE companies will come into effect from 1st June 2021, the UAE’s Ministry of Economy has announced. All current and previously licensed businesses in the UAE are eligible to amend their statuses according to the new additions to the commercial companies law. In November 2020, the UAE government … Read More
Round-Up: Crypto businesses in DMCC, new types of UAE residency visas, and number of new DIFC firms grows 20%
DMCC Crypto Centre Dubai Multi Commodities Centre (DMCC) has announced it will establish a regulatory framework for businesses offering, issuing, listing, and trading crypto-related assets. The “DMCC Crypto Centre” intends to issue bespoke licenses for firms in the crypto space after signing a Memorandum of Understanding with the Securities and Commodities Authority (SCA). The two authorities will collaborate to approve … Read More
UAE announces citizenship will be available to eligible foreigners
In a major policy change announced on Saturday, the UAE Government approved amendments to its citizenship law, opening it up to groups of select foreigners. UAE will become the first Gulf nation to formalise a process aimed at embracing “exceptional people” and their families as part of Emirati society, and ensuring the social stability of these people in the country. … Read More