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DUBAI – In what appears to be exciting news for those associated with the tech industry, the United Arab Emirates (UAE) plans to award around 100,000 golden visas to the world’s leading programmers.
The UAE Golden Visa is a long-term residence option that is highly sought after by professionals in different fields scattered around the world. The reason for offering such a large number of golden visas is because the emirate aims to transform itself into a tech investment hub.
Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications and Chairman of the Dubai Chamber of Digital Economy, mentioned the need for digital transformation and emphasized that Dubai wants to maximize the potential of the digital economy, which over the past two decades has Growth rate is twice the global GDP.
The remarks were made at the 10th Dubai Digital Economy Chamber of Commerce Software Development and Artificial Intelligence (AI) Symposium, which was attended by business tycoons, entrepreneurs, industrialists and journalists, among others.
According to Al Olama, a plan is being drafted together with relevant stakeholders to strengthen the digital sector by ensuring that government decisions are comprehensively promoting innovation and business-friendliness.
“The UAE is engaging all relevant parties to develop a clear roadmap to stimulate the digital industry and ensure that current government policies, initiatives and strategies promote innovation and business friendliness in all sectors,” he said.
Dubai has long been a leader in banking, hospitality and services, but the country’s aim to turn to technology and benefit from it comes from its ideology to diversify the country’s revenue streams in much the same way as the Kingdom of Arabia thinking.
The golden visa for tech professionals is in line with the vision that technology is changing the world and innovation is the next big thing for countries looking to stay afloat in the era of digital transformation.
Both the United Arab Emirates and Saudi Arabia seem to be making it clear that the age of oil is long gone and that new trends in machine learning, artificial intelligence, big data, business analytics and more are to be pursued. Efforts to attract programmers through golden visas appear to be a step in the same direction.
First implemented in 2019, the UAE Golden Visa residency scheme enables expatriates to live, work and study in the UAE without a national sponsor and take 100% ownership of their businesses in the UAE mainland.
With the new regulations, the UAE Golden Visa will grant 10-year residency to investors, entrepreneurs, outstanding talents, scientists and professionals, outstanding students and graduates, humanitarian pioneers and frontline heroes who pass certain eligibility benchmarks.
The UAE is an award-winning immigration passport, as its passport is also the most powerful travel document in the world.
Travelers with UAE passports have easy access to 180 countries; that means seven more than European countries such as Germany and Sweden, and nine more than Japan, whose travel document was released earlier this year by Henley & Partners. Voted the best in the world on this list.
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