The UAE government plans to attract tech companies with golden visas and a 10-year residence permit allowing expatriates to live in the country.
The United Arab Emirates (UAE) has announced its intention to create the most favorable conditions in the country for the incorporation of technology companies from Asia and Europe. In particular, it offers rapid business licensing and the provision of attractive accommodation options for employees.
“Since the beginning of the year, we have noticed that many companies would like to move to the UAE due to inflation and tightening regulations in many parts of the world, including Asia, especially in Singapore and Hong Kong,” said Foreign Trade Minister Thani Al Zeyoudi ( Thani Al Zeyoudi
Currently, the UAE administration is considering requests from 300 blockchain companies. Thani Al-Zeyoudi noted that almost 40 companies are at an advanced stage of possible relocation. According to him, the government plans to achieve the desired goal within the next two years.
Digital asset service providers and popular crypto exchanges are actively using the benevolent regulatory environment to license their activities in the UAE. For example, the Binance and Crypto.com exchanges have established their offices in the Middle East and North Africa region.
According to a recent report by Coincub, Germany was the most favorable country for doing crypto business in the third quarter of this year. At the same time, the United States, which occupied the first place last quarter, fell six positions down.
Source: Bits
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