Therefore, UAE's golden visa has been very popular among Indian indivduals," Ladha explains.
What helps the UAE's case is that its a 10-year golden visa and it can be renewed after expiry and does not require any sponsorship, which is a requirement for visas in several western countries.
This means that one does not have to be a resident to apply for the visa, which is another prerequisite in western countries.
UAE is also among the top 30 countries in the world for ease of doing business, according to Henley and Partners.
The golden visa also does not take long to be issued.
Traditionally, the more popular destinations for these visas, such as Portugal, Malta, Greece and Singapore, provide visa-free access to over 150 countries if an individual is willing to shell out $100,000-$1 million.
"The proximity of UAE to India and similarity in cultures is one of the reasons why 30% of the expat community consisted of Indian residents. Therefore, UAE's golden visa has been very popular among Indian indivduals," Ladha explains.
What helps the UAE's case is that its a 10-year golden visa and it can be renewed after expiry and does not require any sponsorship, which is a requirement for visas in several western countries. Rather, the visa extends to family members and domestic help as well.
Apart from this, there is no residency clause that needs to be followed for eligibility. This means that one does not have to be a resident to apply for the visa, which is another prerequisite in western countries.
UAE is also among the top 30 countries in the world for ease of doing business, according to Henley and Partners. "The flexibility, the ease of operations and the support that is received in certain jurisdictions—that could be one of the key reason why an individual, for a type of business, for certain objectives could consider, evaluate and choose certain jurisdictions," Ladha said.
The country also has a favorable tax regime for investors—with no personal income, capital, net worth, or withholding tax (except for those levied in the domestic banking and oil sectors), and several double-tax treaties in place, Henley and Partners said.
The golden visa also does not take long to be issued. If one can fulfill the requirement, they can have the visa within five to 30 days.
