Home  /  Daily Current Affairs  /  31-03-2022 / UAE Golden Visa

UAE Golden Visa

Posted on March 31, 2022 by admin1  689

In News

  • Recently, Bollywood actor Ranveer Singh has been awarded the UAE Golden Visa by the Abu Dhabi Department of Culture & Tourism. 
    • So far, more than 10 Bollywood actors have got their UAE golden visas.

Golden Card Visa of UAE

  • It is a long-term residency programme that was announced in May 2019.
    • In 2019, the United Arab Emirates (UAE) implemented a new system for long-term residence visas, thereby enabling foreigners to live, work and study in the UAE without the need of a national sponsor and with 100 per cent ownership of their business.
  • It provides a rainbow of benefits to cardholders and their families and creates an attractive environment for business and growth.
  • The Golden Visa system essentially offers long-term residency (5 and 10 years) to people belonging to the following group investors, entrepreneurs, individuals with outstanding talents the likes as researchers, medical professionals and those within the scientific and knowledge fields, and remarkable students.
  • The main benefit of the visa will be security as, through the issuance of the Golden Visa, the UAE government has made it clear that they are committed to providing expatriates, investors and essentially everyone looking to make the UAE their home an extra reason to feel secure about their future.

Reasons Behind the Move

  • The economy of the UAE has been affected by the COVID-19 pandemic and low oil prices have prompted many expatriates to leave. 
  • The decision intends to bring them back now and keep the “talented people and great minds” in the Gulf country and help in nation-building.
  • It will also increase the UAE’s competitiveness and reaffirms the country’s position as a global incubator.
  • It will attract talented professionals from various domains and further encourage innovation, creativity and applied research which will help the nation in its recovery of crawling industries and economy.

 Benefits for India

  • It would attract more Indian professionals and businessmen to the Gulf nation and strengthen India-UAE Relations.
  • It will also facilitate the return of Indians who want to resume work after the relaxation of Covid-19-related restrictions.

Source: FE

 
Previous article Early Heat waves in India
Next article Shrinkflation

Other News of the Day

In News The maiden edition of the Indian Ocean Naval Symposium (IONS) Maritime Exercise 2022 (IMEX-22) was conducted at Goa and in the Arabian Sea. IONS Maritime Exercise 2022  The aim of the exercise was to enhance interoperability in Humanitarian Assistance and Disaster Relief (HADR) operations among member navies.  The exercise is seen as a...
Read More

In News For the first time in the country, academic users in India will be able to access the MATLAB software suite at no cost through the Indian Science Technology and Engineering facilities Map (I-STEM) portal. About The MATLAB software suite is hosted on the cloud server of I-STEM to provide user-friendly access from anywhere...
Read More

In News A draft recommendation on ‘biodiversity and health’ was released during the Convention on Biological Diversity concluded recently. Convention on Biological Diversity (CBD) The Convention on Biological Diversity (CBD) is known informally as the Biodiversity Convention. It is a multilateral treaty. The convention was opened for signature at the Earth Summit in Rio de...
Read More

In News With space junk posing an increasing threat to Indian assets in space, ISRO is building up its orbital debris tracking capability by deploying new radars and optical telescopes under the NETRA project.  The government has given the go-ahead for the deployment of the radar, which will be capable of detecting and tracking objects...
Read More

In Context  Recently, the Indian External Affairs Minister (EAM) embarked on a bilateral visit to Sri Lanka recently. Six agreements were signed to boost bilateral cooperation in diverse sectors like technology, fisheries and hybrid power projects. They also discussed issues pertaining to fishermen and exchanged views on devolution. Major Points  SL-UDI programme: The MOUs include...
Read More

In News Recently, leading media groups from the five BRICS countries held the first joint training programme for journalists. About It is the first initiative of its kind. Objective: To resolve the issue facing a shared challenge of how media organisations in emerging markets can innovate and stay relevant in their unique contexts. Topics covered: ...
Read More

In News Recently, the Centre told the Delhi  High Court that social media platforms must be held accountable for subjugating rights. About A petition was filed by a Twitter user whose account was suspended by the microblogging site for alleged violations of platform guidelines. Centre’s stand Social media platforms must be held accountable for subjugating...
Read More