September, 2017

Archive - September 2017

Trump’s travel ban makes affluent Middle Eastern families eye London property

london

london

Middle Eastern buyers in 2017 summer have been eyeing the attractively priced realty market of London for investments.
Although there are many things influencing investment from the Middle East into London, giving it a fillip were that region’s geopolitical tensions and the UK price levels, which fell 35 percent below peak levels, the lowest in about three decades.
Two more factors encouraging Middle Eastern buyers to invest in the British capital are the temporary travel ban imposed earlier this year by Donald Trump, the US President.

In 2014, many Middle Eastern property buyers headed towards the US after the UK hiked the tax on stamp duty in 2014. Since then, they had abandoned London and headed towards America to buy property in New York and other US cities. They are now, however, London-bound again.
Writing in City AM, David Adams, the director of estate agent Humberts, said that they were witnessing an increase in interest from a younger generation of investors from the Middle East. These people are eager to invest more money than before owing to inheritance tax raids on their family’s money. These people are toeing their parents’ line by investing in property in central London in the 80s when the property rates had last dipped in a massively.

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According to Adams, families from the Middle East were always tied to Belgravia, Knightsbridge and Mayfair where they headed on family excursions during their childhood. The properties that they are hankering for are usually lateral two to four bedroom apartments, costs of which range around £2 million to £7 million.
Some investors are said to be looking beyond these locations, as they could buy 5-6 apartments for the price of one in a prime location and also save money on stamp duty.
The writer says that they have set their sights on Paddington and outer suburbs of London where newly constructed luxury homes are said to be available in plenty. The opportunity offered by currency devaluation is just what the doctor ordered for high net worth individuals from the Middle East to invest in London.
This has turned out to be an unexpected windfall for London as its real estate market was looking down following in the last few months.

If you are from the UAE and are looking to buy property in London, get in touch with Y-Axis, a leading company for immigration services, to apply for a visa.

Dubai clears 5.7 million visa applications online until year ending August 2017

GDRFA Dubai

GDRFA Dubai

About 5.7 million visit visa and residency applications were granted in Dubai through the online service system for the year ending August 2017, the GDRFA (General Directorate of Residency and Foreigners Affairs) officials stated on 23 September.

The latest figures reveal that many large Dubai businesses were using the online service to grant their employees residency visas, helping cut down customer visits to GDRFA-Dubai branches.

Major-General Mohammad Ahmad Al Merri, director-general of GDRFA-Dubai, was quoted by the Gulf News as saying that shifting to the electronic platform was part of their efforts to improve digital services for the customers’ convenience.

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According to him, the directorate dealt with 5.7 million applications until the end of August 2017. They included 4.6 million entry permits for employees for firms and 1.9 million residency visas.

Al Merri said that they were continuously looking to embrace the latest technological standards with the intent of saving their clients time and efforts.

He said they were abiding by their wise leadership’s ambitious vision to bring down the number of clients in all service centres of the government by 80 percent through 2018, a goal that they were aspiring to accomplish as part of their commitment to directives given by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Prime Minister of the UAE and Ruler of Dubai. He added that they would achieve the goal of the plan of Smart Dubai for 2021 to make Dubai, the world’s happiest country.
According to Al Merri, in the past, big companies needed time and effort to complete their work such as issuing visa permits and issuing and renewing residency visas for their employees, with which the online service has, however, reduced time and expenses. The companies were completing their transactions at their own office desks without having to visit headquarters or any branches of the GDRFA.

To use the GDRFA service, it was required that companies registered for the online systems before they could use them, he said.

He stated that the creative government does away with the routine to provide best services and bring about best living and satisfactory levels for the citizens of Dubai.

Maj-Gen Al Merri lauded his officers for completing the online transactions of the companies by working 24 hours a day.

The GDRFA processed 5,700,203 smart permit applications via the online service, including 4,609,228 visa permits and 1,090,975 residency permits.

If you are looking to work in Dubai, get in touch with Y-Axis, a prominent company for immigration services, to apply for a work visa.

Dubai Launches New License for Investors for UAE Nationals, Expats

dubai business visa

dubai business visa

The Dubai Business Registration and Licensing sector of the DED (Department of Economic Development) have announced in August that a new type of ‘Instant License’ would be issued to businessmen and investors within five minutes, restricting some of the requirements in a bid to cut down the time required for business registration.

Usually, to get an industrial license or a commercial in Dubai, one had to wait for one to six months. It would take even longer for certain licenses and requirements laid out by DED. The requirement of bearing a lease agreement registered for the office space was the major hurdle to get a commercial license in most cases. A serious delay was naturally expected before being in a position to get the license due to steep rent rates, procedure and the time one had to wait to zero in on the suitable office space and required approvals of the DED.

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With the DED’s ‘Instant License’ service, a mechanism has been introduced, allowing investors to get a license in five minutes, without the requirement to register a lease agreement. The Instant License has been promoted to improve the efficiency of the DED’s services and to support economic diversity.

The Instant License service requires applicants (a partner or partners on the license) to be present before one of the DED service centres and submit Emirates IDs, the passport copies and visa copies. Eligible for Instant License, besides UAE nationals, are expats currently holding a UAE visa. NOCs (No-objection certificates) from sponsors of the applicants must also be submitted.

Lexology.com quotes that as per information received from the representatives of the DED, individuals may obtain Instant License for companies of all types such as sole proprietorships, LLCs (limited liability companies) and civil works companies.

But this service will not benefit private and public shareholding companies. Eligible for the Instant License are also companies, for which no external approvals are required, such as general trading companies. In addition, the waiver is only applicable for the first year to get a lease agreement.

At the time of application, the license’s location will be listed as the ‘Dubai Municipality’. Once the license is renewed, the DED, however, will need a lease agreement to be registered, besides the Ejari contract. The Investor License’s fee would be more expensive than the license of the traditional companies.

If you are looking to float a company in Dubai, get in touch with Y-Axis, a pioneering company for immigration services, to apply for a visa.

UAE to let Indians with EU or UK residency enter with visa on arrival

uae immigration

uae immigration

A law was passed by the United Arab Emirates to allow Indian passport holders with a UK or EU residency to get a visa on arrival when entering their country.

A statement published on UAE state news agency, WAM, on 13 September said that the decision was taken at a cabinet meeting earlier in the second week of September in accordance with the country’s direction to enhance international relations.

Earlier in March, the UAE had decided to allow Indian nationals holding a green card or a US visa to be issued a visa on arrival for a 14-day stay in their country.

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According to Thomson Reuters Zawya, one of the UAE’s most important trading partners is India, as trade between the two countries rose by six percent to $53 billion in 2017.

Meanwhile, organisers of the India-UAE Partnership Summit, scheduled to take place on 30-31 October, said that the investments from Emirates into India are said to be worth about $10 billion per year, while investment by companies from India and Indian expats in the UAE is expected to be around $55 billion.

In January 2017, Sheikh Mohammed bin Zayed al Nahyan, the Crown Prince of Abu Dhabi, signed a strategic alliance agreement with Narendra Modi, India’s prime minister, on agreements covering cooperation in strategic sectors such as defense, energy security, maritime transport and food security.

The UAE also agreed to infuse $75 billion funds into Indian infrastructure projects in 2016.

Navdeep Singh Suri, India’s ambassador to the UAE, said that India was cooperating with the UAE in a variety of areas, which includes strategic areas such as space and defence.

He said that both the countries were all set to tap on their mutual advantages and create alliances to help them attain their respective economic visions.

Suri added that they were also confident of luring a lot of investment into India from the UAE because of their close ties and the opportunities that India has.

Paras Shahdadpuri, vice president of the Business Leaders Forum, said that India and UAE have had historic ties in trade, investment, economy and family relations for centuries. He added that the biggest foreign investors in the UAE were Indians.

If you are looking to travel to the UAE, get in touch with Y-Axis, a reputed company for immigration services, to apply for a visa.

Indian migrant workers help centre set up in Sharjah

uae immigration

uae immigration

It was announced on 12 September that a resource centre for Indian migrants working in Gulf states was set up. Its objective is to aid in cutting down the risk of trafficking workers to fake jobs and leave them open to exploitation.

The Indian Workers’ Resource Centre in Sharjah in the UAE (United Arab Emirates) with a 24-hour helpline and a team of advisers seeks to bail out thousands of Indians employed in the region who could be victimised.

Dinesh Kumar, an official at the Indian embassy in Abu Dhabi, was quoted by Reuters as saying that there were several fake job rackets that lead migrant workers to find themselves with low earnings, without proper documentation or even without jobs upon their arrival there.

He said that henceforth Indian workers in crisis will find help through a phone call.

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According to figures from the Indian government, there are about six million Indian migrants living in the Gulf States of the UAE, Bahrain, Qatar, Kuwait, Oman and Saudi Arabia.

The establishment of a rescue centre was necessitated by the increasing number of complaints that the Indian government and non-governmental organisations have been receiving for quite some time from migrant workers, with regard to non-payment of wages or torture and abuse.

A multilingual toll-free number (800 INDIA) will be set up to take note of these complaints round the clock at the Sharjah centre. It will also verify job offer letters to ensure that Indian migrants are not being misled.

Kumar said that apart from being conned by job agents, many workers are stuck in low paying jobs and are not aware of how they could seek legal or financial recourse.

He said that cultural differences, language and food habits also are a barrier for workers hailing from underprivileged Indian families.

Kumar added that the centre would have counsellors in place to help these aggrieved people whether it is on coping with the place or problems they were facing.

Ankit Agarwal of Alankit, the organisation which has allied with the government of India to run the centre, said that most of them they deal with are blue collar workers, with several of them being illiterate and ignorant of their work contract terms.

He said that they give them basic information at the camps and inform them on how they could reach these rescue workers when they are in trouble.

If you are looking to work in the UAE, get in touch with Y-Axis, a renowned consultancy for immigration services, to apply for a work visa.

UAE emerges as the top destination for Indian job seekers leaving behind Saudi

uae flag

uae flag

UAE has emerged as the top destination for Indian job seekers immigrating to the Gulf leaving behind Saudi according to immigration clearance data for Q1 and Q2 for 2017. UAE has taken over Saudi Arabia by a huge margin leaving behind the conventional Gulf destination for Indian job seekers.

In Q1 and Q2 2017, around 74, 778 Indian job seekers received UAE immigration authorization out of the total 1.84 lakh. This was 40% of the total clearances of immigration to UAE. On the other hand just 32, 995 Indian job seekers immigrated to Saudi Arabia which was just 18%, as quoted by the Times of India.

The third place was occupied by Oman with 30, 413 immigrants which were 16% of the migration to Gulf. In 2016 the third place was taken by Kuwait.

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In terms of state-wise statistics, Bihar took over Uttar Pradesh as the top source of immigration to the Gulf for the 2017 Q1and Q2. 35, 807 of the total immigrants to Gulf were from Bihar which was 19.5%. On the other hand, Uttar Pradesh came at the second place with 33, 043 immigrants which were 18%.

However, in 2015 out of the total 7.58 lakh immigrants from India to Gulf, 31% were from Uttar Pradesh and mere 14% from the Bihar state. The chief factor for this change in ranking is the decrease in immigrants from the Uttar Pradesh to Saudi Arabia in the first six months of 2017.

Out of the total immigrant figure in 2015 with 3.06 lakh, 1.28 lakh immigrants to Saudi Arabia were from Uttar Pradesh which was 42%. The total immigrants to Saudi Arabia fell to 1.65 lakh in 2016 out of which 36% immigrants were from Uttar Pradesh.

If you are looking to Study, Work, Visit, Invest or Migrate to UAE, contact Y-Axis, the world’s most trusted Immigration & Visa Consultant.