Inayat-ur-Rahman, Business Editor

The UAE has announced a slew of visa reforms under a new residency scheme. The initiatives - ranging from a five-year Green Visa to the introduction of new categories under the 10-year Golden Visa, among others - offer several benefits to facilitate the residency of family members in the country.

A cross-section of business heavyweights shared their candid views with Gulf Today. According to them the move will attract more people with new skill sets and many businesses to the country. 

Dr. Azad Moopen, Founder Chairman & MD of Aster DM Healthcare told Gulf Today that it is heartening to see UAE’s Visa relaxation announcement has reforms to support expatriates and businesses. The expansion of benefits to Golden Visa holders and introduction of green residence visa will attract more people with new skill sets and many businesses to the country. This will boost the talent pool in UAE and aid in the development of diverse sectors in alignment with the Vision of the Great Rulers of the country to make UAE a global destination of choice.

“For the healthcare sector, these reforms will attract more doctors, nurses and other healthcare professionals to build their careers in UAE and select the country as a home for their families. Our triumph in the global war against COVID-19, while delivering the World’s Greatest Show – Expo 2020 with such success has established UAE as the most sought-after destinations for businesses and healthcare already. I am sure these moves will increase it exponentially.” Azad concluded.

Dr Mostafa Al Guezeri, Managing Director of Hitachi Energy in UAE & Oversight Countries, said:  This new visa reform is sure to increase the overall productivity of the economy as more people begin to look at UAE as a potential home for themselves and their families. The UAE is going to see an increase in its productive workforce as well as taxpaying consumers. More importantly, the increased population will cause a surge in the demand for sustainable development in the energy sector. Abdul Jebbar PB, Group Managing Director, Hotpack Global, said:  The UAE government’s decision on new visa reforms is going to make foreigners feel more welcome and allow them to see the UAE, not just as a place to work short-term, but as a home for themselves and their families. With the influx of new consumers, the manufacturing and retail sectors will benefit immensely. We are going to see a massive boost in spending. Overall, these laws are a blessing for professionals and entrepreneurs alike in the UAE and are sure to get people more excited to invest in the country.

Ali Shabdar, MEA Regional Director, Zoho, Corp, said:  The new visa reform by the UAE government is going to open up many doors for investment opportunities in the UAE. The influx of new immigrants is most definitely going to stimulate the economy significantly, creating new jobs, expanding the available talent pool, and increasing demand for products. Bharat Bhatia, CEO and Founder of Conares, said:  The UAE continues its great momentum with programmes to empower economy by making life and business easier for people.

The Visa reformation decision is one of the greatest initiatives of the UAE government for foreigners to make UAE their permanent destination of choice. It’s going to be an amazing feeling for them to know that they can call this country their home, rather than somewhere to work, short-term.

This will provide more flexibility for foreigners in terms of setting up businesses, adjust with their professional commitments, and keeping their families safe and happier. The decision will have a much higher impact on the economy, adding to the country’s strategic connectivity by air and sea with the rest of the world. This move is going to usher in a massive wave of investment in all sectors, especially construction because as more people move in, there will be greater demand for housing.

Abhishek Sharma, COO, Fashinza, said:  The UAE’s new visa reform will be a blessing for all sectors of the economy as new consumers and businesses come into the country. With more job opportunities, as more people move here and the existing residents choose to stay and work here longer, the UAE will turn into a massive global talent pool that will benefit everyone. However, in my opinion, the sector that is going to benefit the most is retail.

Naren Vijay, Executive VP Growth, Lumenore, said: The new visa reform is another excellent example of how forward-thinking the UAE lawmakers are. UAE is already positioned to become one of the leading knowledge economies in the world, with some of the best data infrastructure and a huge pool of talent to choose from. Now, the pool is about to get even bigger and it’s going to invite even greater investment in advanced data sciences.