When it comes to investment, Iran is not a country of choice for foreign investors. Its economy is highly regulated and dominated by military-owned businesses. Corruption is also reported in Iran, which can be dangerous for investment.

However, Iran is now looking for ways to change its economic image by announcing a new initiative to attract foreign investors with the help of residency permits.

On Sunday, the Iranian government passed a new legislation that will allow foreign investors get a temporary residency permit. According to the government’s spokesman Ali Rabiee, the decision was done to simplify the process to invest in the country.

It was also proposed by the Ministry of Economic Affairs and Finance to help the economy. This year, Iran has reported a -5% growth rate and its oil exports have dropped due to sanctions.

How can foreign investors avail a residency permit in Iran?

Investors can get a five-year residency permit if they invest at least €250,000. They must be from countries recognized by the Islamic Republic to qualify.

Interested applicants can also make their investments through the following:
– by depositing funds in an Iranian bank.
– by investing in production or business.
– by purchasing public government bonds; and,
– by buying a house.

Investments can also be done using US dollar, euro and other foreign currencies accepted by the Central Bank of Iran. A source from the government earlier said that a €200,000 investment will be the rule for a 5-year residency permit. However, it was changed to the €250,000 for the legislation.

The competition with Iran is tough though, as many other countries in the region offer residency. Some of them at a much cheaper cost, including Turkey and Georgia.

Iran on Foreign Investment

Iran has a low ranking when it comes to foreign investments. According to the report from the UN Conference on Trade and Development, the country received $3.4 billion worth of foreign investment last year. The number is 30% less than the amount it had received in 2017. In 2017, the country received over $10 billion in foreign investment.

How to Get to Iran?

Visitors from Europe, Asia and nearby Middle Eastern countries can fly directly to Tehran through major airline carriers. Those from North America will need to take a connecting flight from Dubai, Turkey and Europe to reach the country.

If you are planning to visit the country anytime soon, there are a lot of websites that can help you plan your trip. To get you started, you can visit the Iran Tourism and Touring Organization website or Tehran’s official website.

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The United Arab Emirates is becoming one of the fastest growing commercial hubs in the Middle East. For foreigners, it means better work and business opportunities. However, it is very difficult to get a long residency permit due to the strict laws of the country.

On Tuesday, the UAE’s General Directorate of Residency and Foreigners Affairs (GDRFA) announced that more foreigners can now apply for a 10-year Gold Card residence permit in the country. Some of these qualified foreigners include businessmen, investors and talented individuals.

The new announcement comes after last month’s implementation of a new permanent residency scheme. According to Dubai Prime Minister and Ruler Sheikh Mohammed bin Rashid, 6,800 investors and residents from 70 countries were qualified for the scheme. The GDRFA said that 400 expats out of the 6,800 applicants had been granted the Gold Card.

It is the hope of the UAE government to build the country as an attractive investment and business environment for expats. They also wish to become a new hub for talented workers to seek new opportunities and employment options. The government also expressed that it is a way to reward long-term residents who have continued to invest in the country.

Gold Card Requirements and Details

According to the released guidelines last month, the UAE Cabinet allows Gold Card status to be granted to five types of expats: entrepreneurs, CEOs, scientists, investors and outstanding students. The recent announcement now includes executives earning Dh 30,000 or more and talented specialists in the roster.

For executives earning Dh 30,000 or more, they must meet the following criteria:

– They are required to have a bachelor’s degree or its equivalent.
– They must also have a five year work experience and currently employed.
– They must present a comprehensive insurance coverage for themselves and the family.

For investors, they must meet the one of the following criteria to qualify:
– They must have a deposit of Dh10 million in a UAE investment fund.
– They own a company with a Dh10 million capital or a partner in a company with a Dh10 million share.

They must also meet all the following requirements:
– The investment fund must be under their name and not under a loan. Documentation must be submitted.
– The investment must be active for the past three years and counting.
– The investor must present a comprehensive insurance coverage for themselves and their families.

For entrepreneurs, they must meet all of the following requirements:
– They must own a thriving project valued at Dh 500,000 or more in any of UAE’s certified fields.
– They must have an approval as a certified business incubator.
– They must present their insurance coverage for themselves and their family.

For talented individuals, these are the following requirements:
– Interested professors from one of the top 500 universities in the world recognized by the Ministry of Education can apply.
– Individuals awarded for their work or have a certificate of appreciation for their specialties can apply.
– Scientists must be a part of a major study or research.
– PhD holders and those with a 20-year work experience are eligible.
– Individuals who specialize in fields deemed important in the UAE are eligible.
– Art and culture specialists are also eligible but they must pass the review from the Ministry of Culture and Knowledge Development.

Once a foreign national is granted a Gold Card, they will be able to stay outside the country for as long as they like. Families of expats who qualify for the Gold Card will automatically get the Gold Card to ensure strong family ties. Gold Cards must also be renewed every 10 years alongside their medical insurance and legal documentation.

However, if an investment or business fails within 10 years, their cases will be reviewed to see if their Gold Card should be renewed.

How to find out more and apply for the Gold Card?

To know more about the application process and to apply, visit this website.

How to Reach the United Arab Emirates

Going to the UAE is very easy as almost all major airlines have direct and connecting flights to the country. Nearby Middle Eastern countries can drive to the country easily and pass by its borders. Some of the major cruise liners like Royal Caribbean also make a stopover at Dubai.

If you are planning to visit the UAE in the future, there are a lot of articles online to help you out in organizing your travel plans. You can check out the Dubai Tourism Board or the Abu Dhabi Tourism Board to find out more about the two cities. You can also check out our article about the Best Places to Stay in Dubai for some extra ideas.

The post The New UAE “Gold Card” Residence Permit and How to Get One appeared first on Check in Price.

If you are looking for a country to invest on properties, Uzbekistan should be in your list. Starting this June, foreign nationals will be able to get residency permits if they buy a property in the country.

Citizens from any of the 111 qualified countries will now be able to get residency permits in Uzbekistan if they buy a property worth USD $400,000.

According to the Uzbek Justice Ministry on Thursday, June 22, the amendments are done as part of the president’s decrees to help Uzbekistan’s tourism flourish. Before this announcement, Uzbekistan implemented other tourism-related projects, such as the e-visa system and the hotel rules reform.

Which Areas Can Foreigners Buy Properties In?

According to the new changes, foreigners will be able to get residency permits if they purchased a property in Tashkent and its surrounding areas for no less than $400,000. Tashkent, the country’s capital, is one of the most culturally-diverse regions in the country. Some would also know Tashkent as the home to major league football clubs such as FC Bunyodkor and Pakhtakor Tashkent FK.

If foreigners prefer a property in areas like Andijan, Khorezm, Samarkand, Fergana and Namangan, the property must be worth $200,000. Samarkand, in particular, is the oldest inhabited city in Central Asia and a hub for Islamic studies. It is also considered a UNESCO World Heritage Site thanks to its well-preserved historic landmarks and traditions.

For regions like Karakalpakstan and other far territories can also be chosen by foreigners for property investment. Karakalpakstan is a major fishing ports and an agricultural hub. However, some foreigners may find it difficult to stay in Karakalpakstan due to its arid climate.

How to Reach to Uzbekistan?

For those in North America, Europe, Russia and the Middle East, it is very easy to fly to Uzbekistan. Those from Asia will need to take a connecting flight from either Seoul, Jakarta, Tokyo, Singapore or Kuala Lumpur to get to the country. Nearby countries such as Afghanistan, Kyrgyzstan, Turkmenistan and Tajikistan can drive to the country easily and pass its borders through the national highway networks that connects their countries together.

If you like to visit Uzbekistan anytime soon, there are a lot of articles online to help you organize your travel plans. A great resource is the government tourism agency of Uzbekistan website.

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