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Hindustan Times
26 minutes ago
- Hindustan Times
UAE's new nomination Golden Visa vs Real-Estate Visa: What's the difference?
The United Arab Emirates (UAE) has created a new category of golden visa for those who wish to move to the country. The nomination-based Golden Visa program, it offers foreigners, including Indian nationals, lifetime residency in the UAE for a fixed fee.(Representational) Tagged nomination-based Golden Visa programme, it offers foreigners, including Indian nationals, lifetime residency in the UAE for a fixed fee. The UAE already has a Golden Visa programme for foreign nationals, which has made the country a top destination for wealthy individuals seeking to relocate. But the new category is somewhat different and gives a chance to immigrate without spending a huge fortune. So, what is the difference between the two Golden Visa programmes? New nomination-based Golden Visa vs real-estate linked programme According to a PTI report, the UAE government has introduced a new category of Golden Visa based on nominations as an alternative to the existing system, which requires substantial investments in local real estate. The new programme has certain conditions, but it significantly reduces the amount of money needed to obtain it. The nomination-based system would give the applicant a long-term renewable residency in the UAE, ranging from five to ten years. The UAE's Golden Visa for life can be obtained by paying a one-time fee of AED 1,00,000 (around ₹23.30 lakh), PTI reported. On the other hand, the real estate-linked visa is quite expensive. To get into such a programme, a 10-year renewable residence visa can be purchased by purchasing one of the following: A property worth a minimum of AED 2 million (approximately ₹ 4.7 crore). 4.7 crore). A property worth a minimum of AED 2 million, with a loan from specific local banks. One or more off-plan properties worth a minimum of AED 2 million from approved local real estate companies. This visa becomes invalid if the linked property is sold or divided. But the new nomination visa wouldn't have that problem. According to Henley & Partners, the UAE continues to dominate as the top destination for wealthy migrants, with an estimated 6,700 millionaires relocating to the country by the end of 2024. The US comes next with inflows of more than 3,800 millionaires estimated last year. With zero personal income tax, no capital gains tax, and no inheritance tax, the UAE offers a more tax-efficient environment than India, allowing individuals to preserve more of their wealth.
Time of India
29 minutes ago
- Time of India
BigBasket appoints Manish Bajoria as CFO
BigBasket , a Tata group company, has appointed Manish Bajoria as its chief financial officer (CFO). In this role, he will oversee all aspects of the online grocery platform 's finance function and play a key role in shaping its financial strategy as it enters its next phase of development and innovation, the company said in a statement on Monday. Bajoria has more than 20 years of experience in strategic finance, commercial management and digital transformation across diverse sectors. Prior to joining BigBasket, he served as CFO at Vini Cosmetics . He also held senior finance leadership roles at Amazon and Hindustan Unilever . He started his career at Tata Steel Limited and is a qualified chartered accountant. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like New Mobile Stair Lifts Require No Installation - Prices May Surprise You Stair Lift | Search Ads Learn More 'Manish brings deep financial experience and a practical understanding of how businesses work on the ground. His steady approach and ability to work through complex situations will be a real asset as we continue to scale and stay focused on what matters, serving our customers better and building a strong, sustainable business,' said Hari Menon, CEO, BigBasket.
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Business Standard
29 minutes ago
- Business Standard
Siemens Energy Q2FY26 results: Net profit rises 36% to ₹246 crore
In March quarter, the company reported a total income of Rs 1,893.9 crore, up from Rs 1,196.8 crore in the year-ago period Press Trust of India New Delhi Siemens Energy India Ltd (SEIL) on Monday posted 36.34 per cent rise in net profit at Rs 246.1 crore for January-March 2025, mainly driven by income from power transmission and generation segment. It had reported Rs 180.5 crore profit for the second quarter a year ago. The company follows October to September as financial year. In March quarter, the company reported a total income of Rs 1,893.9 crore, up from Rs 1,196.8 crore in the year-ago period. Revenues from transmission rose to Rs 1,013.8 crore from Rs 604.9 crore in January-March 2024. Revenue from generation grew to Rs 865.7 crore from Rs 591.7 crore. Expenses also shot up to Rs 1,548.6 crore from Rs 952.4 crore on account of increased cost of materials consumed and project bought outs and other direct costs. The company's profit in October-March more than doubled to Rs 477.8 crore from Rs 180.5 crore earlier. SEIL is an energy technology company. Shares of the company got listed on the stock exchanges on June 19 after the demerger of energy business of Siemens Ltd. "With this listing, we reaffirm our long-standing commitment to India's energy future. As India advances toward becoming a USD 7 trillion economy, a strong and resilient energy system will be essential. SEIL, with its dedicated team, is ready to support this important journey for India and its people," company's MD and CEO Guilherme Mendonca said. In December 2023, Siemens Ltd said its board has approved the demerger of its energy business into a separate entity. While Germany-based Siemens AG and its subsidiaries hold 69 per cent stake in SEIL, subsidiaries of Siemens Energy AG hold 6 per cent, with the remainder in free float. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
