The introduction of a one-year residency permit for remote workers in the UAE will help attract more talent to the region and boost business opportunities, experts said.
On Sunday, Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai, announced that overseas remote working professionals could live in the Emirates while continuing to serve their employers in their home country.
Bernard Lee, chief executive of GlassQube Coworking, a workspace operator that has four locations in Abu Dhabi, said the visa was extremely attractive for international corporations and small and medium-sized enterprises.
"Essentially it could lower the cost of setting up teams and a large office base here," Mr Lee said.
“Instead, companies could send in exploratory teams, even one or two employees, that are fully protected as domestic residents.
“By doing that they have a chance to really see what the business landscape has to offer them without investing large sums of money upfront.”
For it to be truly attractive, Mr Lee said the cost of the visa would have to be “materially less than setting up a branch LLC” in the country.
“It will be interesting to find out what the costs are, once more details come out,” he said.
Murtaza Khan, managing partner for the Middle East and Africa at Fragomen, an immigration consultancy, said the move caters to people whose nature of work allows them to adopt the “work from anywhere model” that has become more prevalent in the Covid-19 age.
“This provides a legal way for foreign nationals to live and work in the UAE, but where their actual job or place of work in the true sense is outside of the UAE,” he said.
He said a remote working programme launched in Dubai in October had already proven successful.
“The scheme has already helped attract many remote workers to Dubai, not only by providing this pathway for a visa, but by the overall proposition of the UAE as a destination, in terms of the quality of life and high-quality infrastructure.”
He said the time zone for people coming from western Europe made it manageable for remote working, and in recent months, his consultancy has seen interest from North America too.
“This will have a knock-on impact on the economy in terms of the spend of foreign nationals residing in the UAE," he said.
"But more importantly it attracts the talent, and often those in the generation belonging to the gig economy – specifically technology."
As this influx of talent arrives in the country, Mr Khan said they are able to further connect with the industry and possibly explore opportunities available to them, such as establishing a main office.
In a tweet on Sunday, Sheikh Mohammed wrote that the UAE's development is continuous and change will not stop.
"Our teams continue day and night to consolidate our international economic and political position and establish a quality of life that is the best in the world for our people and all those residing here," he said.
Louise Vine, managing director of Inspire Selection, a recruitment firm, said the availability of a residency visa for remote workers opens doors for companies based overseas who want a presence in the UAE.
“[They can explore opportunities] without having to get a full trade licence, office space and workforce,” she said.
“It will, therefore, increase the number of opportunities to candidates and consumers, giving them more choice.
“Sales managers or key account managers are likely to be employees to take advantage of this new visa.”
If a company has historically had an office here but had to close during the pandemic, Ms Vine said the new Cabinet decision meant they could still do some business locally.
“Rather than shutting the door on doing any business face to face in the UAE, companies could now allow the opportunity for one or two key workers to remain in the country, legally,” she said.
“Whereas previously, someone may have either visited from overseas on a renewable tourist visa, they can now avail the benefits of being a resident.”
THE DETAILS
Solo: A Star Wars Story
Director: Ron Howard
2/5
Barbie
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The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
Company Profile
Founder: Omar Onsi
Launched: 2018
Employees: 35
Financing stage: Seed round ($12 million)
Investors: B&Y, Phoenician Funds, M1 Group, Shorooq Partners
Three tips from La Perle's performers
1 The kind of water athletes drink is important. Gwilym Hooson, a 28-year-old British performer who is currently recovering from knee surgery, found that out when the company was still in Studio City, training for 12 hours a day. “The physio team was like: ‘Why is everyone getting cramps?’ And then they realised we had to add salt and sugar to the water,” he says.
2 A little chocolate is a good thing. “It’s emergency energy,” says Craig Paul Smith, La Perle’s head coach and former Cirque du Soleil performer, gesturing to an almost-empty open box of mini chocolate bars on his desk backstage.
3 Take chances, says Young, who has worked all over the world, including most recently at Dragone’s show in China. “Every time we go out of our comfort zone, we learn a lot about ourselves,” she says.
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Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.
Based: Riyadh
Offices: UAE, Vietnam and Germany
Founded: September, 2020
Number of employees: 70
Sector: FinTech, online payment solutions
Funding to date: $116m in two funding rounds
Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices
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Company profile
Date started: 2015
Founder: John Tsioris and Ioanna Angelidaki
Based: Dubai
Sector: Online grocery delivery
Staff: 200
Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
SPECS
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if you go
The flights
Fly direct to Kutaisi with Flydubai from Dh925 return, including taxes. The flight takes 3.5 hours. From there, Svaneti is a four-hour drive. The driving time from Tbilisi is eight hours.
The trip
The cost of the Svaneti trip is US$2,000 (Dh7,345) for 10 days, including food, guiding, accommodation and transfers from and to Tbilisi or Kutaisi. This summer the TCT is also offering a 5-day hike in Armenia for $1,200 (Dh4,407) per person. For further information, visit www.transcaucasiantrail.org/en/hike/
Rock in a Hard Place: Music and Mayhem in the Middle East
Orlando Crowcroft
Zed Books
COMPANY%20PROFILE
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Who was Alfred Nobel?
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
- In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
- Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
- Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
Killing of Qassem Suleimani
'Laal Kaptaan'
Director: Navdeep Singh
Stars: Saif Ali Khan, Manav Vij, Deepak Dobriyal, Zoya Hussain
Rating: 2/5
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
The Case For Trump
By Victor Davis Hanson
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
Tax authority targets shisha levy evasion
The Federal Tax Authority will track shisha imports with electronic markers to protect customers and ensure levies have been paid.
Khalid Ali Al Bustani, director of the tax authority, on Sunday said the move is to "prevent tax evasion and support the authority’s tax collection efforts".
The scheme’s first phase, which came into effect on 1st January, 2019, covers all types of imported and domestically produced and distributed cigarettes. As of May 1, importing any type of cigarettes without the digital marks will be prohibited.
He said the latest phase will see imported and locally produced shisha tobacco tracked by the final quarter of this year.
"The FTA also maintains ongoing communication with concerned companies, to help them adapt their systems to meet our requirements and coordinate between all parties involved," he said.
As with cigarettes, shisha was hit with a 100 per cent tax in October 2017, though manufacturers and cafes absorbed some of the costs to prevent prices doubling.
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Profile
Name: Carzaty
Founders: Marwan Chaar and Hassan Jaffar
Launched: 2017
Employees: 22
Based: Dubai and Muscat
Sector: Automobile retail
Funding to date: $5.5 million
The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
360Vuz PROFILE
Date started: January 2017
Founder: Khaled Zaatarah
Based: Dubai and Los Angeles
Sector: Technology
Size: 21 employees
Funding: $7 million
Investors: Shorooq Partners, KBW Ventures, Vision Ventures, Hala Ventures, 500Startups, Plug and Play, Magnus Olsson, Samih Toukan, Jonathan Labin
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5