Abudhabi Invites Foreign Talents To Strengthen The Economy

Abudhabi Invites Foreign Talents To Strengthen The Economy
by Aswani

Abu Dhabi is gaining the focus of attention among the seven emirates of the UAE, and success equations are progressively shifting towards the capital city, which is where all the excitement is centering. Although Abu Dhabi’s status as a thriving economic force is not new, its ability to combine financial prosperity with tourist connectivity has proven to be a powerful combo for its citizens.

Passing the litmus test during the demanding economic climate has earned Abu Dhabi a reputation as a tourism, leisure, and commerce hub, attracting a significant number of tourists and investors, and it is now consistently ranked among the top global destinations to live and conduct business on the 2021 Global Liveability Index. The emirate’s rising popularity between visitors, families, and investors can be due to its emphasis on inclusiveness, innovation, and diversity, as well as its developing industries, startup environment, and top notch infrastructure. Also, it is home to more than 2.2 million inhabitants of over 200 nationalities.

The UAE Government and local authorities are trying to adopt a variety of policies and have launched a number of programmes aimed at attracting outstanding professionals from diverse fields. Several initiatives, including the emirate’s company formation costs, have been cut to Dhs1,000. This cost decrease will not only enhance licensing, but will also promote entrepreneurship and build a long-term business community. Similarly, the criteria for starting a new firm in Abu Dhabi have been reduced by 71%, opening up additional business opportunities. Although these concessions would be beneficial, the introduction of the Golden Visa in the emirate is generating the greatest buzz.

People who have made huge contributions to the country, have excellent skills, or work in core fields, such as investors, entrepreneurs, outstanding students, doctors, engineers, scientists, creative intellectuals and artists, child development education specialists, athletes, and phD holders, are all eligible for the long-term golden visa. Golden Visas, which are valid for five or 10 years depending on the category, allow applicants to live, work, and study in Abu Dhabi without the requirement for a national sponsor and give opportunities for the world’s smartest minds.

The ‘Thrive in Abu Dhabi’ project, which was launched in February 2021, was also created to encourage foreign residents working, studying, excelling, and investing in Abu Dhabi to settle down with their families and support the emirate’s growth through long-term residence.

These initiatives, which were implemented to achieve the UAE’s long-term future, will help to strengthen the local economy, enhance Abu Dhabi’s possibilities, and progress its different sectors and industries by bringing everyone together to accomplish their personal and professional goals. The Emirate of Abu Dhabi is gradually establishing a reputation as a global financial center that endorses the latest technological innovations, as well as evolving into a desirable tourist destination and eventually transforming into a robust economy that attracts investment from all over the world.

The UAE’s policies have been carefully crafted to encourage economic activity, and businesses will need to put in some work and time to have a basic grasp of these measures.

HLB ABUDHABI is a prominent business consulting organization in Abu Dhabi, UAE, that has helped firms of all sizes develop their enterprises in a multitude of sectors. We have the skills and experience to advise our customers on the most appropriate corporate structure for their company. Our vast business consulting experience aids in making the process clear and straightforward.