The UAE has announced a new long-term residency visa. Known as the blue visa, it will grant a 10-year residency to people who have made “exceptional contributions” towards protecting the nation's environment.
Announced after a Cabinet meeting on Wednesday led by Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai, the decision aligns with the country’s long-term goals of making the UAE more sustainable.
The new visa is the latest to be introduced in the UAE, following in the footsteps of the golden visa, which also offers a 10-year residency. A number of other initiatives, such as the green and remote working visas, have also been issued in recent years.
One of the country's leading recruiters said the visas offering long-term stays in the UAE had been a big success so far.
"The biggest benefit [of a ten-year visa] is that it has made it possible to live here without needing to be under the sponsorship of a company," said David Mackenzie, group managing director of recruitment agency Mackenzie Jones. "It gives you so much freedom."
The newly introduced visa will also go some way to not only attracting talent but also enticing those currently living in the UAE to extend their stay, said a leading sustainability expert.
"It will help retain talent because not everyone stays here for 10 years because they are tied to the standard visa, sponsored by their employers, which lasts for two years," said Ivano Iannelli, senior adviser for sustainability at Emirates Global Aluminium.
"Of course it will attract new talent but it will also offer an element of security to those who are already here. It shows the ambition of the UAE."
The National takes a look at who can apply for one.
Who can apply for a blue visa?
"The visa will be granted to individuals who have made significant contributions to environmental protection and sustainability, offering them a ten-year residency in the UAE, and is part of the UAE’s Year of Sustainability," read a statement shared by state news agency Wam.
The visa will be available to individuals who have made exceptional contributions and efforts in the field of protecting the environment, whether marine or land.
Work towards improving air quality and sustainable technology will also be rewarded, the authorities said.
How can you apply?
"Sustainability advocates and experts who are interested in the UAE Blue Residency are invited to submit their applications directly through the services of the Federal Authority for Identity, Citizenship, Customs, and Port Security, or through nominations by competent authorities in the state for the individuals recommended for it," read a statement on Sheikh Mohammed's website.
Why is it important?
The announcement of a blue visa for contributions to protecting the environment is groundbreaking, said Dr Sultan Al Jaber, Cop28 President and Minister of Industry and Advanced Technology.
“The blue residency visa aims to attract global environmental leaders to contribute to the UAE's sustainable economic and social development," said Dr Al Jaber.
"It underscores the nation's dedication to leveraging advanced technologies and artificial intelligence to create impactful solutions.
"With a forward-thinking approach, these solutions will address climate challenges and transform them into opportunities for a brighter future for humanity and our planet.”
Dr Al Jaber said the blue visa was in line with the legacy created by the Cop28 conference, the UN climate change summit that took place in Dubai last year.
“The conference was a paradigm shift, showcasing the UAE's unwavering commitment to multilateralism, international co-operation, and developing a united global approach to the challenges of climate change," he said.
"This visa will build on that good work and will help further establish the UAE as a front-runner in the development of technologies, such as artificial intelligence, that can help address climate change.”
Attracting talent
One of the main reasons for the introduction of the blue visa is to continue making the UAE an attractive prospect for skilled people from abroad, who are considering their future options, a UAE minister said.
"The Blue Residency will have a major role in attracting talents in the field including innovators, and climate champions from all over the world, who will contribute to the advancement of the UAE’s work in fostering a sustainable future for all," said Dr Amna Al Shamsi, Minister of Climate Change and Environment.
What other kind of visas are available in the UAE?
Residency visa for people working in the private sector - This is the most common visa available in the UAE. It lasts for two years before requiring renewal and is sponsored by a person's employer.
Golden visa - This is a 10-year visa awarded to people under a number of categories. You could be a property investor, entrepreneur, highly talented person, nurse, doctor, director, sportsperson, holder of a PhD, specialist, or an outstanding pupil.
Green visa - This is available to those who have their own businesses and are not working for, or sponsored by, an employer. The green visa lasts for five years.
A five-year residency is also available for freelancers and self-employed people, without the need to obtain a sponsor or employer in the UAE.
Investors establishing or participating in commercial activities are also eligible for a green visa.
Remote working visa - In March 2021, the UAE announced the introduction of a residence permit for remote workers, which came into effect in September 2022.
Golden visa for students - A high-school pupil who has achieved excellent results can be granted a golden visa for five years without a sponsor.
This can be extended if the course they are studying lasts for more than five years.
Tourist visa - A 60-day visit visa for tourists is now standard, instead of the previous 30-day one.
Multi-entry visa - The five-year multi-entry tourist visa does not require a sponsor and allows the holder to stay in the country for up to 90 consecutive days, as long as they have $4,000 or its equivalent in their bank account.
Company Profile
Company name: Fine Diner
Started: March, 2020
Co-founders: Sami Elayan, Saed Elayan and Zaid Azzouka
Based: Dubai
Industry: Technology and food delivery
Initial investment: Dh75,000
Investor: Dtec Startupbootcamp
Future plan: Looking to raise $400,000
Total sales: Over 1,000 deliveries in three months
Mohammed bin Zayed Majlis
Learn more about Qasr Al Hosn
In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
RESULTS
Bantamweight: Victor Nunes (BRA) beat Azizbek Satibaldiev (KYG). Round 1 KO
Featherweight: Izzeddin Farhan (JOR) beat Ozodbek Azimov (UZB). Round 1 rear naked choke
Middleweight: Zaakir Badat (RSA) beat Ercin Sirin (TUR). Round 1 triangle choke
Featherweight: Ali Alqaisi (JOR) beat Furkatbek Yokubov (UZB). Round 1 TKO
Featherweight: Abu Muslim Alikhanov (RUS) beat Atabek Abdimitalipov (KYG). Unanimous decision
Catchweight 74kg: Mirafzal Akhtamov (UZB) beat Marcos Costa (BRA). Split decision
Welterweight: Andre Fialho (POR) beat Sang Hoon-yu (KOR). Round 1 TKO
Lightweight: John Mitchell (IRE) beat Arbi Emiev (RUS). Round 2 RSC (deep cuts)
Middleweight: Gianni Melillo (ITA) beat Mohammed Karaki (LEB)
Welterweight: Handesson Ferreira (BRA) beat Amiran Gogoladze (GEO). Unanimous decision
Flyweight (Female): Carolina Jimenez (VEN) beat Lucrezia Ria (ITA), Round 1 rear naked choke
Welterweight: Daniel Skibinski (POL) beat Acoidan Duque (ESP). Round 3 TKO
Lightweight: Martun Mezhlumyan (ARM) beat Attila Korkmaz (TUR). Unanimous decision
Bantamweight: Ray Borg (USA) beat Jesse Arnett (CAN). Unanimous decision
THE BIO
Family: I have three siblings, one older brother (age 25) and two younger sisters, 20 and 13
Favourite book: Asking for my favourite book has to be one of the hardest questions. However a current favourite would be Sidewalk by Mitchell Duneier
Favourite place to travel to: Any walkable city. I also love nature and wildlife
What do you love eating or cooking: I’m constantly in the kitchen. Ever since I changed the way I eat I enjoy choosing and creating what goes into my body. However, nothing can top home cooked food from my parents.
Favorite place to go in the UAE: A quiet beach.
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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The five pillars of Islam
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Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Medicus AI
Started: 2016
Founder(s): Dr Baher Al Hakim, Dr Nadine Nehme and Makram Saleh
Based: Vienna, Austria; started in Dubai
Sector: Health Tech
Staff: 119
Funding: €7.7 million (Dh31m)
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