Recent changes to UAE citizenship laws improve investment landscape

Recent changes to UAE citizenship laws improve investment landscape

DUBAI: The business landscape of the UAE has been steadily changing in the past few years with the rapid introduction of progressive measures. In a historic move on Jan. 30, 2021, the UAE announced the decision to open its citizenship to investors, specialized talents, and professionals. The landmark judgment aims to broaden the nation's talent pool by attracting and retaining the brightest minds to further the country's development and progress. Professionals eligible for Emirati citizenship include doctors, engineers, scientists, authors, artists, and their families. The UAE has always been an attractive but transient hub for traders and investors. However, with the recent amendment that renders a tone of permanency, investors and highly skilled individuals are more likely to contribute to the country's growth. Investment groups predict a boost in the flow of foreign investments that would enable the diversification of the economy and revenue sources. The decision will be significant for the country whose demographic landscape has historically been dominated by expatriates. The amendment will reassert the country's identity as a residence pad for investors and skilled individuals and facilitate their integration into the national identity. The prospect of complete integration will instill more confidence and trust in investors and