Remote working visa will bring top talent to the UAE

On Sunday, the UAE cabinet adopted a new remote work visa to enable employees from all over the world to live and work in the country for one year and approved a multiple-entry tourist visa for all nationalities.

The visa allows foreigners to enter the UAE under self-sponsorship and work in line with terms and conditions issued with the visa. The major step, considered the first of its kind in the region, aims to boost the competitiveness of the UAE’s tourism sector and support the national economy.

Last month S&P Global Ratings said that the UAE witnessed a drop in population, as a result of expat workers forced to return home due to the Covid-19 pandemic, of 8.4 percent, the steepest decline in the Gulf region. This was subsequently denied by authorities.

However, Scott Livermore, ICAEW economic advisor and chief economist at Oxford Economics told Arabian Business the new visa would go a long way to addressing any worker shortfall.

Scott Livermore, ICAEW economic advisor and chief economist at Oxford Economics.

He said: “Like the retirement visa, this increases the scope for foreigners to call the UAE home without the need for employment in the UAE. Over time, this is likely to develop a pool of highly skilled workers, which could further increase the attractiveness of the UAE as a destination for businesses who want to tap this talent pool and support a virtuous circle for the UAE economy.”

The remote working visa was first announced in mid-October last year, allowing workers who meet certain requirements to remain in the emirate for one year.

It provides the opportunity for entrepreneurs and talent to innovate in the UAE’s safe and attractive business environment, with access to all the necessary services.

Gabriella De La Torre, director of consulting at CBRE, told Arabian Business that the move coincides with the global shift in working patterns as more and more companies switch to remote working in a post-Covid world.

She said: “Some global companies have announced that they will shift to a full remote working arrangement for their employees, while others have highlighted the importance of a hybrid approach, which supports the need for flexibility while allowing employees to continue benefitting from the advantages of a central office.

Gabriella De La Torre, director of consulting at CBRE.

“This trend, naturally creates an opportunity for different markets to attract these remote workers by offering a positive quality of life, which the UAE definitely has to offer.”

The new scheme aims to support the public and private sector, enhance work-life balance, boost productivity and improve the business environment.

Among the sectors set to benefit from the new remote working visa are freelancers, consultants and those operating in the online sphere, while experts agreed that it will also be attractive to IT workers and those working in knowledge-based sectors.

Scott Cairns, managing director of Creation Business Consultants, told Arabian Business: “We foresee the greatest benefits will be reaped through a boost to housing and residential sectors. This additional increase in the number of residents will also bring with it a large increasea in discretionary spending. As a result of this change, the major beneficiaries will include the entertainment, retail and F&B sectors.”

Scott Cairns, managing director of Creation Business Consultants.

And Lewis Allsopp, CEO of real estate outfit Allsopp & Allsopp, agreed that it could provide a welcome shot-in-the arm to the industry.

He said: “The initiative gives overseas residents the opportunity to trial Dubai without the risk of leaving a secure job in their home country.

“Overseas remote workers will be searching for properties to reside in for themselves and potentially their family too – so investors looking to buy a property to lease will benefit from this in 2021 and beyond.

“I see now as the time for both end-users and investors to buy property in Dubai and look to reap the benefits over the next few years.”

Lewis Allsopp, CEO of real estate outfit Allsopp & Allsopp.

The UAE has received positive reviews for the way in which the country has handled the global pandemic and is currently among the top in the world for the number of vaccines administered.

And Cairns believed this was further incentive for anyone looking to relocate to the region.

He said: “The timing of this announcement is rather strategic in design – with so many countries having closed borders and/or quarantine in place, this offers an attractive solution for some people to move to the UAE and enjoy a well-controlled, Covid-safe environment that supports business and international travel.”

The launch of the new visa comes just a week after the announcement of the Dubai 2040 Urban Masterplan, which creates a comprehensive future map for sustainable urban development in the city and aims to increase the emirate’s population to 5.8 million from just 3.3 million over the next two decades.

The people-centric plan focuses on reinforcing Dubai’s competitiveness as a global destination by providing a wide diversity of lifestyle and investment opportunities for citizens, residents and visitors over the next 20 years.