All UAE residents can apply for eVisas for travel to Japan

UAE residents planning to travel to Japan no longer need to visit the Japanese embassy to apply for a visa. The Asian destination has introduced eVisas for UAE residents, as well as for Saudi residents and nationals.

Effective immediately, Japan has eased visa regulations for travellers from the UAE and Saudi Arabia.

Tourists keen on exploring Tokyo’s neon streets, Kyoto's temples and shrines, or the snow-covered slopes of Hokkaido can apply online for a short-term tourist visa that allows stays of up to 90 days.

No screenshots or print outs of the visa are required. Instead, travellers will access Japan's eVisa website on arrival in the country to show approved documents to immigration authorities.

The easing of travel rules for visitors from the Gulf region follows visa-free regulations for Emirati travellers that have been in place since November.

Citizens from 68 other nationalities, including the US, UK, Canada, Australia and several countries across Europe, are also exempt from applying for a visa to travel to Japan.

Tourists walk under cherry trees in bloom in Kawazu. UAE residents can now travel to Japan on an eVisa. Getty Images

“I am delighted with the commencement of the online applications for short-term stay visas in the UAE and Saudi Arabia, as well as the visa waiver arrangements for short — term stay for Qatari nationals, as it will ease the process to visit Japan for touristic purposes,” said Kobayashi Daisuke, executive director of Japan National Tourism Organisation in Dubai.

Earlier this month, Emirates resumed flights to Tokyo-Haneda airport, the Dubai airline's third destination in the country. The service joins Emirates' daily A380 flights to Tokyo-Narita and daily Boeing 777 fights to Osaka. at Japanese embassies or Consulate-Generals and can then travel visa free to Japan for short -term visits over a period of three years.

Qatari nationals are also able to travel easier to Japan as authorities have added a visa waiver registration for travellers from the Gulf country. Before travelling, Qatari nationals should register their passport details at Japanese embassies or Consulate-Generals and can then travel visa free to Japan for short term visits over a period of three years.

Japan drops lingering Covid-19 restrictions more than three years after the pandemic

Visitors wearing face masks arrive at Narita international airport near Tokyo in June 2022. AP Photo / Shuji Kajiyama

Japan is also set to drop its last remaining Covid-19 regulations for travellers.

From May 8, visitors from overseas will no longer need to provide proof of vaccination or a negative PCR test when arriving in the country.

Japan introduced some of the toughest travel restrictions after the Covid-19 pandemic as the country effectively sealed off its borders to non-residents. Since the lifting of restrictions, airlines around the world have added more flights to Japan to satisfy traveller demand.

Earlier this month Emirates resumed flights to Tokyo-Haneda airport, the Dubai airline's third destination in the country. The service joins Emirates' daily A380 flights to Tokyo-Narita and daily Boeing 777 fights to Osaka.

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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Should late investors consider cryptocurrencies?

Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.

They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.

“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.

He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.

All UAE residents can apply for eVisas for travel to Japan

The Asian destination is gearing up to drop Covid-19 travel rules next month

Japan drops lingering Covid-19 restrictions more than three years after the pandemic

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Should late investors consider cryptocurrencies?

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