The United Arab Emirates is considering granting long-term golden visas for businesses as it steps up efforts to attract investments and bolster growth.
The proposal to introduce 10-year golden and five-year silver licenses for trade was discussed at the government’s Economic Integration Committee on Wednesday, the Dubai-based Gulf News reported. It aims to increase government revenue, ensure business continuity,and promote economic growth, according to the report.
The UAE, of which Abu Dhabi and Dubai are part, already provides golden visas to foreigners. Expatriate residents make up more than 80% of the UAE population.
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