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UAE attracting money in through citizenship grants

The United Arab Emirates has adopted amendments that would allow the Gulf state to grant citizenship to investors and other professionals including scientists, doctors and their families, the government said on Saturday.

“The UAE cabinet, local Emiri courts and executive councils will nominate those eligible for the citizenship under clear criteria set for each category,” Dubai’s ruler and UAE Vice President Sheikh Mohammed bin Rashid Al Maktoum said in a twitter post.

“The law allows receivers of the UAE passport to keep their existing citizenship,” Sheikh Mohammed added.

It was unclear if new passport holders would benefit from the public welfare system. The UAE spends billions of dollars each year on free education, healthcare, housing loans and grants for its estimated 1.4 million citizens.

Foreigners in the UAE usually have renewable visas valid for only a few years tied to employment. The government in recent has made its visa policy more flexible, offering longer residencies for certain types of investors, students and professionals.

Last year, the government extended its “golden” visa system – which grants 10-year residency in the Gulf state – to certain professionals, specialised degree-holders and others.

An oil and gas producer, the UAE’s economy has been hit by the coronavirus pandemic and low oil prices, prompting tens of thousands of expatriates to leave.

Source: Reuters

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One comment

  1. Angel NicGillicuddy

    If you want money,
    and you also want to
    unfund The Dark Forces
    at the same time,
    join our movement to
    declare demurrage
    on The US dollar.

    VERY few
    understand that
    there is NOT just
    hoardable
    money.
    By far most people do not even
    acknowledge
    that the money of your world
    is HOARDABLE.
    Most have never even heard such a statement.
    And so it follows logically
    that practically nobody
    understands
    UNHOARDABLE MONEY.
    It even follows logically
    that practically nobody
    understands
    HOARDABLE
    MONEY
    either.
    If all you ever saw was darkness
    you wouldn’t even know it was dark.
    If all you ever used for money was
    hoardable money,
    like The US dollar
    and gold or silver,
    then you wouldn’t even know it was
    HOARDABLE

    Not even your artificial intelligence
    acknowledges
    nor
    understands
    HOARDABLE MONEY
    nor
    UNHOARDABLE MONEY
    nor
    MONEY WITH DEMURRAGE.
    What does this mean?
    It means that
    ALL of your economic models
    are not showing you a anything useful
    and definitely NOT
    showing you which way to go
    except DEEPER
    INTO DARKNESS.
    Your leader
    President Biden
    is perfect
    for “leading” you
    into this direction.
    DEEP DARK WINTER
    and
    NIGHT
    (not good night)
    I think he loves these words
    for some strange reason.

    HOWEVER,
    Trump and Abe (of Japan)
    do understand
    both
    hoardable money
    and
    unhoardable money,.
    Thank God.

    Yours Truly,
    The Beast
    and
    Lucifer.
    We have surrendered
    and joined
    Angel NicGillicuddy ??

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