The UAE and Brazil have entered into a partnership to exchange knowledge and expertise about the economy as part of the Emirates' government experience exchange programme.
The partnership was unveiled during a visit by a Brazilian official delegation to the UAE, according to a statement by the UAE Ministry of Cabinet Affairs on Sunday.
“The partnership will enable the concerned teams in the UAE and Brazil to learn more about the best government expertise and practices, and also highlight the investment opportunities available to businessmen from both countries, in order to achieve a significant growth leap in economic and trade co-operation relations between them,” Minister of Economy Abdulla Bin Touq said.
“It will also explore new paths for exchanging knowledge regarding government action and sustainable economic development.”
The UAE and Brazilian delegations exchanged best practices in key areas of economic policy and strategy, including foreign trade, investment, economic development, intellectual property, anti-money laundering and competition, the ministry said.
Brazil is the UAE's top trading partner in Latin America and ranks second only to the US among the UAE's most important trading partners in the Americas.
The Emirates’ non-oil trade with Brazil reached $4.3 billion last year, an annual growth of 32 per cent, according to figures from the UAE's Ministry of Economy.
The two countries currently collaborate in vital sectors such as industry, transport, shipping, storage, infrastructure, construction, port management, energy, mining, banking and finance, and property.
The government experience exchange programme is a knowledge-sharing platform aimed at transferring the UAE's experience and best practices in the field of government development and modernisation to other countries, according to its website.
The programme was launched in 2018 by the Prime Minister’s Office at the Ministry of Cabinet Affairs.
It has launched partnerships with more than 30 countries.
Since the programme’s launch, the UAE government has signed agreements with participating countries to build institutional capacities for government development. These countries include Jordan, Iraq, Sudan, Greece and Spain, among others.
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Citizenship-by-investment programmes
United Kingdom
The UK offers three programmes for residency. The UK Overseas Business Representative Visa lets you open an overseas branch office of your existing company in the country at no extra investment. For the UK Tier 1 Innovator Visa, you are required to invest £50,000 (Dh238,000) into a business. You can also get a UK Tier 1 Investor Visa if you invest £2 million, £5m or £10m (the higher the investment, the sooner you obtain your permanent residency).
All UK residency visas get approved in 90 to 120 days and are valid for 3 years. After 3 years, the applicant can apply for extension of another 2 years. Once they have lived in the UK for a minimum of 6 months every year, they are eligible to apply for permanent residency (called Indefinite Leave to Remain). After one year of ILR, the applicant can apply for UK passport.
The Caribbean
Depending on the country, the investment amount starts from $100,000 (Dh367,250) and can go up to $400,000 in real estate. From the date of purchase, it will take between four to five months to receive a passport.
Portugal
The investment amount ranges from €350,000 to €500,000 (Dh1.5m to Dh2.16m) in real estate. From the date of purchase, it will take a maximum of six months to receive a Golden Visa. Applicants can apply for permanent residency after five years and Portuguese citizenship after six years.
“Among European countries with residency programmes, Portugal has been the most popular because it offers the most cost-effective programme to eventually acquire citizenship of the European Union without ever residing in Portugal,” states Veronica Cotdemiey of Citizenship Invest.
Greece
The real estate investment threshold to acquire residency for Greece is €250,000, making it the cheapest real estate residency visa scheme in Europe. You can apply for residency in four months and citizenship after seven years.
Spain
The real estate investment threshold to acquire residency for Spain is €500,000. You can apply for permanent residency after five years and citizenship after 10 years. It is not necessary to live in Spain to retain and renew the residency visa permit.
Cyprus
Cyprus offers the quickest route to citizenship of a European country in only six months. An investment of €2m in real estate is required, making it the highest priced programme in Europe.
Malta
The Malta citizenship by investment programme is lengthy and investors are required to contribute sums as donations to the Maltese government. The applicant must either contribute at least €650,000 to the National Development & Social Fund. Spouses and children are required to contribute €25,000; unmarried children between 18 and 25 and dependent parents must contribute €50,000 each.
The second step is to make an investment in property of at least €350,000 or enter a property rental contract for at least €16,000 per annum for five years. The third step is to invest at least €150,000 in bonds or shares approved by the Maltese government to be kept for at least five years.
Candidates must commit to a minimum physical presence in Malta before citizenship is granted. While you get residency in two months, you can apply for citizenship after a year.
Egypt
A one-year residency permit can be bought if you purchase property in Egypt worth $100,000. A three-year residency is available for those who invest $200,000 in property, and five years for those who purchase property worth $400,000.
Source: Citizenship Invest and Aqua Properties
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