The United Arab Emirates has unfolded plans to grant long-term golden visas for businesses as part of efforts to attract a larger number of wealthy internationals.
The idea of introducing a ten-year golden visa and five-year silver licenses was discussed during the government’s Economic Integration Committee on Wednesday, VisaGuide.World reports.
The plan has been introduced as part of efforts to increase government revenue, ensure business continuity and promote economic growth, according to a report from Gulf News.
The proposed trade licenses follow the introduction of the golden license scheme in Bahrain, which brings significant benefits to companies and attracts large-scale investment projects to the kingdom.
The Bahrain Economic Development Board earlier this month said that the country’s golden licence program attracted a total of $2.4bn in investments from nine major projects, which are expected to bring a total of 3,000 job opportunities.