Dubai Issued Over 158,000 Golden Visa's & Accommodated to Over 60 Million Travelers

In a recent article published by Gulf News, the General Directorate of Residency and Foreigners Affairs in Dubai (GDRFA Dubai) revealed that they issued over 158,000 long-term residency visa's to investors and entrepreneurs in Dubai during the course of 2023.

It's interesting to note, that the Lieutenant General Mohammed Ahmed Al Marri, director-general of GDRFA Dubai, stated that the number of visas issued last year nearly doubled compared to the 79,617 issued across all categories in 2022 and significantly exceeded the 47,150 issued in 2021.

What Does This Mean for Dubai as a Global Business Hub?

The substantial increase in the number of long-term residency visas issued by GDRFA Dubai in 2023, as highlighted by the nearly doubling of the previous year's figures and the significant rise from 2021, highlights Dubai's growing appeal as a global hub for investors and entrepreneurs.

This surge indicates a successful implementation of policies aimed at attracting foreign investment and talent, reflecting confidence in Dubai's economic stability and business-friendly environment.

The exponential growth in visa issuance can be seen as a positive indicator of the city's robust economic prospects and its strategic initiatives to enhance its attractiveness on the world stage. This trend also suggests an increasing recognition of Dubai as a prime destination for long-term business and investment opportunities, which could further stimulate economic diversification and growth in the region.

What We Have Witnessed at Open Hub

Over the last year till date, the number of Golden Visa's we have issued at Open Hub have increased by 38%, aligning with the data revealed in the latest article by Gulf News. The reasoning being is that primarily the requirements have eased in the property investment route. The previous minimum equity amount is no longer required to apply for a long-term residency visa and property valuations, as well as, off-plan properties are now eligible to be considered.

Regarding the salary requirement, the minimum monthly salary has been reduced from AED 50,000 to AED 30,000.

We are observing a significant demographic shift among our clients, with a notable increase in individuals seeking to acquire investment properties in the UAE without the need to enter the country every six months. Prominent among these clients are nationals from the UK and India.

The UAE Introduces the Blue Visa

Earlier this month, the UAE introduced the Blue Visa, a 10-year residence visa aimed at individuals who have made significant contributions to environmental protection and sustainability, both within the UAE and internationally.

This visa is granted to a diverse group of environmental advocates, including members of international organizations and companies, association and NGO members, global award recipients and distinguished activists and researchers in environmental fields.

The Blue Visa is available to both Emirati citizens and resident environmental advocates. This further demonstrates the government's commitment to creating opportunities within the UAE through proactive initiatives.