UAE Non-Oil Business Activity Surges to Nine-Month High in December

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 The United Arab Emirates' non-oil private sector recorded its fastest expansion in nine months in December 2024, buoyed by strong domestic demand and increased business activity, according to the latest S&P Global Purchasing Managers’ Index (PMI) report. PMI Highlights Robust Growth The seasonally adjusted UAE PMI climbed to 55.4 in December from 54.2 in November, signaling robust growth well above the 50.0 threshold that separates expansion from contraction. This marked the third consecutive monthly increase, underscoring sustained recovery in the non-oil sector. Key drivers of growth included a notable rise in new business activity. The new orders subindex rose sharply to 59.3 in December from 58.0 in the previous month, reflecting strong domestic demand. Challenges Amid the Growth While domestic demand flourished, export growth slowed, with the export orders subindex dropping to a seven-month low. Additionally, businesses faced mounting backlogs due to capacity constraints,...

UAE: New visas to come into force from next month

visas


Several changes to residence laws will go into force starting next month, including a greatly enlarged Golden Visa program, a new five-year Green residency, a multiple-entry tourist visa, and entry permits for job seekers. The main entrance and residence amendments implemented in the UAE are these new visas and entry permits.

 The new method will be highly advantageous to both visitors and expatriates who live and work in the UAE. As a result, the UAE will become even more welcoming to foreigners and wealthy persons wishing to establish long-term residence there.

 All of these new executive regulations on entrance and residency laws will go into effect 90 days after they are published in the Official Gazette, according to a UAE Cabinet decision made public in mid-April.

 The list of visas that were released in April is shown below. Some of them have already been adopted, and the majority will go into effect starting next month:

 Multi-entry tourist visa: Without a sponsor, the new five-year multi-entry tourist visa enables visitors to stay in the UAE for up to 90 days, with the option of an additional 90 days. On this tourist visa, a person may remain for a maximum of 180 days. Prior to application, the applicant must have a bank balance of $4,000 (Dh14,700) or its equivalent in foreign currencies.

 Business visa: Investors and business people can apply for a business visa without a host or sponsor.

Visa to visit relatives/friends: If a foreigner is a friend or family of a UAE national or resident, they are eligible to apply for this visa. A sponsor or host is not necessary for this.

 Temporary work visa: Applicants for this visa must have a temporary work assignment, such as a probationary period or project-based work. Candidates must provide proof of fitness as well as a temporary employment contract or a letter from the employer.

 Visa for study or training: This visa is intended for individuals or students who wish to enroll in training programs, academic courses, or internships. Educational and research institutions in the public and business sectors may sponsor applicants for this visa. It needs a letter from the organization outlining the specifics of the study, training, or internship program, as well as how long it will last.

 Family visa: Until recently, only parents could apply to sponsor their minor children. Up to the age of 25, male youngsters can now be sponsored. Children with disabilities also receive a special visa, and daughters who are single can be sponsored indefinitely.

 Job visa: This new visa is available to job searchers to investigate possibilities in the UAE. The only qualifications for this visa are having a bachelor's degree or its equivalent, being a recent graduate of one of the top 500 colleges in the world, and falling into the first, second, or third skill levels as determined by the Ministry of Human Resources and Emiratization.

 Green visa: Holders of this five-year visa may bring their family along without the assistance of a sponsor or employer. This visa is open to skilled employees, independent contractors, freelancers, etc. A Bachelor's degree or its equivalent and a starting salary of Dh15,000 are additional criteria.

 Golden visas: The UAE has announced Golden Visas for a variety of professional categories and investors who wish to permanently enjoy the highest standard of living available in the nation

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