UAE cabinet approves programme to attract remote workers

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The federal cabinet of the United Arab Emirates authorized a brand new system permitting professionals to reside within the Gulf state whereas working remotely for employers overseas, a scheme that the emirate of Dubai launched by itself in October.

The UAE has taken a number of measures to attract rich foreigners because the COVID-19 pandemic and low oil costs have hit its financial system, significantly that of enterprise and tourism hub Dubai.

Vice-President Sheikh Mohammed bin Rashid Al Maktoum, who can be Dubai’s ruler, stated in a Twitter put up on Sunday {that a} new work visa would cowl such skilled workers. He added the cabinet had additionally authorized a multiple-entry vacationer visa for all nationalities.

“We are working with clear objectives to boost our economic status globally and provide the best quality of life to our citizens and residents,” he stated.

Residence for foreigners, who make up a majority of the UAE’s 9 million inhabitants, had to this point been primarily linked to employment contained in the nation, with workers sponsoring households.

Dubai is more and more going through stress from different enterprise hubs together with Saudi Arabia, which is urgent international firms to setup regional headquarters in Riyadh.

Many international workers, wanted to help demand in Dubai’s actual property, providers and retail sectors, left final yr after corporations slashed jobs.

Dubai’s realty market has been re-energised by prime property gross sales prior to now few months, with consumers making the most of decade-low costs, simple financing and an financial system open for enterprise regardless of the pandemic.

Meanwhile gross sales within the UAE retail sector are anticipated to develop 13% this yr, to attain $58 billion by the top of 2021, the Dubai Chamber of Commerce and Industry stated on Sunday, because the Gulf state banks on a vaccination drive and its internet hosting of the Dubai Expo world truthful which begins in October to enhance demand.

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