The UAE grants new residencies for virtual work and tourist visas for all nationalities

The federal government of the UAE has approved a new system that allows employees to reside in the Gulf country to work remotely in companies abroad, a system launched by the Emirate of Dubai in October.

The UAE has adopted measures to attract wealthy foreigners as the economy, particularly in the business and tourism hub of Dubai, has been hit by the COVID-19 pandemic and low oil prices.

Sheikh Mohammed bin Rashid Al Maktoum, Vice President of the United Arab Emirates and ruler of Dubai, said on Twitter today, Sunday, that the new work visa will cover such specialized workers.

He added that the government also approved a multi-entry tourist visa for all nationalities.

He continued, "Our goals are clear... and our teams continue day and night to consolidate our international economic and political position... and to establish a quality of life that is the best in the world for our people and for all residents on our land."

The residence of foreigners, who make up the majority of the UAE's population of nine million, has so far been mostly associated with work within the country.

A large number of foreigners, which Dubai needs to support demand in the real estate, services and retail sectors, left last year after job cuts.

The real estate market in Dubai has been active thanks to the demand for luxury real estate during the past few months from buyers taking advantage of the drop in prices to their lowest levels in ten years, as well as easy financing and an open economy despite the pandemic.

The Dubai Chamber of Commerce and Industry said today that real estate sector sales in the UAE are expected to rise 13% this year to reach $58 billion by the end of 2021, as banks there are counting on the vaccination campaign and hosting the Dubai World Expo, which begins in October, to boost the demand.