Prominent members of the Indian business community who have invested heavily in the UAE market are appealing to the government to consider introducing a long-term residency visa for high-net-worth individuals.
Indian Business and Professional Council president Paras Shahadpuri said at the group’s meeting last week that although the immigration department has made significant, much-appreciated strides towards easing visa processes, more needs to be done to build confidence among investors.
Indian businessmen in the UAE with heavy investments appeal to the UAE government for long term residency visas
His comments were addressed to Major General Mohammed Ahmed Al Marri, director general of residency and foreigners’ affairs in Dubai.
He said: “Anywhere in the world – the US, Canada, UK, Germany, Singapore – when we carry a bag of Dhs100 million of investments, we are welcomed wholeheartedly and granted permanent residency status. But when we do this in the UAE, we are given a three-year-visa.”
He explained: “This short-term visa causes uncertainty in the minds of investors. We request this to change. But until this is done, I urge that at least a long-term visa – say 10 to 20 years – is granted to such investors and senior professionals.”
Shahadpuri, a former diplomat who quit his job with India’s Ministry of Foreign Affairs and started his own business in 1988, added: “The growth of Indian expats here is tied to the growth of the UAE. In this context, we feel there should be more initiatives by the residency department and labour department to enhance the confidence of the Indian community and spur growth in the UAE.”
Responding to the appeal, Al Marri said: “When we compare ourselves with the US, or Canada, or Australia or Singapore – well, every state has their own rules. What we can say is that we can only pass the message to the decision makers.”
He added that the department is working to enhance its services. “Should Dubai win the bid to host the Expo 2020, we will expect 20 million people in a span of six to 12 months. They need to be received and seen off with a smile.”
megha@7days.ae
High-net worth Indian businessmen want long-term visa
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