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India Today
2 days ago
- Business
- India Today
From Rs 4 crore to Rs 23 lakh: Why UAE slashed golden visa fee for Indians
The UAE's updated golden visa program, offering lifetime residency to Indians for Rs 23 lakh from the previous requirement of Rs 4 crore, has generated a massive buzz on social media. But, why would the UAE, one of the richest nations globally, make such a move?Initially started in 2019, the UAE golden visa scheme was mostly aimed towards attracting investors and entrepreneurs. The policy requires individuals to invest at least Rs 4.67 crore in business or real estate in the country. advertisementAs per the earlier policy, the visa had to be renewed after 5-10 years. Moreover, if the said property is sold, the individual's visa will be revoked. That's no longer a concern with the new golden visa, which offers lifetime residency in the UAE. Benefits like zero income tax, no capital gains or inheritance tax are the icing on the LOOKING TO STRIKE TALENT GOLD?Behind the UAE move lies a well-thought-out strategic intent as the Gulf nation looks to attract global mobile talent apart from this year, a survey found that certain sectors in the UAE were facing skill-based talent shortages, such as engineering, sales and marketing, which account for a significant share of hiring demand, The Khaleej Times report further said there was also a surging demand for professionals in cybersecurity, AI, and cloud the earlier version of the golden visa scheme that focused heavily on real estate or business investments, a fee of Rs 23 lakh now opens doors for India's upper middle-class ALL ARE ELIGIBLE?In fact, it is less expensive than most mid-range SUVs and luxury cars like the Jeep Meridian or a Mahindra BE6. According to a PTI report, over 5,000 Indians are likely to apply for this nomination-based visa in three new scheme broadens eligibility to include teachers (15+ years of experience), principals, university faculty, researchers, scientists, experienced nurses, as well as YouTubers, and podcasters (over 25 years).However, before you dream of visiting the Burj Khalifa or the Dubai Mall, one needs to remember that having Rs 23 lakh alone will not guarantee you a approval hinges on a merit-based nomination and a strict background screening process. Professional achievements and one's potential contributions to key sectors - such as science, education, innovation, digital media - will also be taken into account.- EndsMust Watch
Time of India
5 days ago
- Time of India
Why UAE residents are choosing staycations over international holidays in the 2025 summer season
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The residents in the UAE are preferring to plan their vacations during the 2025 summer season within the country due to high airfares and visa hassles, which are burning a hole in their pockets, increasing the overall expenses. However, these are not the only reasons behind the Emiratis choosing not to go for international travel, as many hotels in the UAE are luring vacationers with attractive rates and to The Khaleej Times, many hotels and resorts across the Emirates are offering special deals, with staycations starting from just Dh99 per about the expenses behind international travel, a resident of Al Qusais told Khaleej Times, "I calculated all the costs, and it's nearly double the usual price'. 'For a family of four, even a short trip abroad is just too expensive when you include flights, hotels, food, and activities. So, we decided to try a staycation in the UAE. It's cheaper, easier, and still fun,' he expensive overseas travel prompting residents to opt for domestic travel, many hotels and resorts are seeking to capitalize on the opportunity with summer deals. These include early check-in and late check-out, lower room rates, food discounts, and family-friendly some hotels have launched weekly offers that allow vacationers to book a room for as low as Dh99. Besides these deals, many hotels and resorts are also offering additional discounts on room bookings and food and drinks with validity up to August 31, 2025, Khaleej Times reported. These offers also include discounts on taxi services.
Time of India
23-06-2025
- Business
- Time of India
UAE safest hub for parking money, to attract more millionaires despite Israel-Iran conflict, say immigration experts
The United Arab Emirates will attract more millionaires and continue to remain a paradise for high-net-worth individuals despite the tensions prevailing in the Middle East following the Israel-Iran war. Several international migration consultants and wealth managers believe that despite the conflict, the Emirates is still the safest country to park money and has always been a stronger magnet in a time of crisis in the Gulf region. In an interview to The Khaleej Times, Armand Arton, CEO of leading immigration investment firm Arton Capital, claimed that he is hopeful the UAE will continue attracting even more millionaires than it had in the last five years. He said that the Emirates has always been the safest hub because of the infrastructure, the safety nets, the rule of law, the quality of life and the low tax. Citing the Russia-Ukraine war and Donald Trump's return to power in the US, Arton said that the conflict between Moscow and Kyiv was the last big wave of wealth that came in. He further stated that the taxation in the UK and the politics of Europe created a second wave of Europeans. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Build Your Dream Villa Near Bengaluru Airport Sumadhura Group Learn More Undo Talking about the third wave of Americans, the Arton Capital CEO said that it came after US President Trump was elected, as a lot of Democrats and others moved to the UAE. 'We see that very high profile of people coming in and asking for the Golden Visa,' he added. UAE attracted around 13,000 new millionaires in 2024, says report Live Events Armand Arton's claim was strongly backed by the UBS Global Wealth Report 2025, which came out on Wednesday, June 18, 2025, stating that the Emirates attracted around 13,000 new millionaires in 2024, which is a 5.8 per cent increase. The rise brings the total number of high-net-worth individuals in the country to 240,343. The millionaires in the UAE command approximately $785 billion (2.88 trillion) in wealth, according to The Khaleej Times. 'War always comes with a very high human cost, but a localised conflict like the current situation is likely to have a very limited macroeconomic effect. Unless there is a major escalation, we would not see this as significantly changing global macro trends, including migration,' said Paul Donovan, chief economist at UBS Global Wealth Management. Iran-Israel war 'will create a new wave of people, says Arton The Arton Capital CEO said that the Iran-Israel conflict, which escalated sharply after the US struck three nuclear sites in Iran on Sunday (June 22, 2025), 'will create a new wave of people from the neighbouring country who will come to the UAE and who are still considering that this is the safest place to park their money and family.'
NDTV
20-06-2025
- Business
- NDTV
UAE Man Who Never Worked A Day Wins Rs 26 Lakh In Salary Dispute
An Abu Dhabi company has been ordered to pay AED 110,400 (approximately Rs 26 lakh) as "unpaid wages" to an employee who, despite receiving an offer letter, was never allowed to start working. The employee, whose name was not disclosed, filed a lawsuit against the company, claiming that his salary for the period from November 11, 2024, to April 7, 2025, was illegally withheld. According to a report in The Khaleej Times, the employee had signed a fixed-term contract with the company, which stipulated a basic salary of AED 7,200 and a total monthly compensation package of AED 24,000. Despite the signed contract, the employee was never given the opportunity to commence his employment. The court's decision underscores the importance of upholding employment agreements, even when work hasn't begun. The court stated that "it was clear from the wage report, the employment contract, and the supporting documents submitted through the case management system that the delay in starting work was due to the employer," according to local newspaper Emarat Al Youm. The Abu Dhabi Labour Court emphasised that under Federal Decree-Law No. (33) of 2021 regulating labour relations, employers are obligated to pay wages on time according to the systems approved by the Ministry of Human Resources and Emiratisation. Citing Article 912 of the Civil Transactions Law, the court ruled that wages are a worker's right and cannot be withheld without proof, such as a written waiver or legal acknowledgement. The employer had argued the employee wasn't entitled to his salary because he "did not report to duty and went on leave." But the court found no evidence of a formal investigation into any absence, determining that the delay in employment was the company's fault. The employee admitted taking eight days off, which were deducted from the total, resulting in a payment for four months and 18 days.
Hindustan Times
18-06-2025
- Business
- Hindustan Times
Employee gets ₹25 lakh as ‘unpaid wages' despite never joining work
A company in Abu Dhabi has been ordered to pay AED 110,400 as 'unpaid wages' to an employee who received an offer letter but was never allowed to join work. According to a report in The Khaleej Times, the employee filed a lawsuit against the company, alleging that his salary for the period between November 11, 2024 to April 7, 2025, was withheld by his employers. The employee, who was not named in the report, said that he had signed a fixed-term contract with the company. The terms of his employment contract included a basic salary of 7,200 AED and a total monthly package of 24,000 AED. However, the company kept delaying the date on which he was supposed to begin work. The employee took the company to court over the loss of salary. The court stated that 'it was clear from the wage report, the employment contract, and the supporting documents submitted through the case management system that the delay in starting work was due to the employer.' It also emphasized that employers are obligated to pay wages on time under labour laws. The court ruled that the company had to pay the employee AED 110,400 ( ₹25 lakh INR approximately) as unpaid wages. The company, on the other hand, argued that the employee was not entitled to the full wage as he 'did not report to duty and went on leave.' However, the court found no evidence to suggest that an investigation had been launched into any absence and ruled that the delay in joining work was the company's fault. The employee did admit to taking eight days off, the salary for which was deducted from the total.
