Sanctioned Russian oligarchs are escaping to countries that have embraced a nonpartisan stance on the Ukraine war, where they could also obtain long stretch residence visas. Brokers let Forbes in on that Golden Visa Program besides the way that the sanctioned individuals house are hunting in Dubai anyway they are also interested in full residence. One land specialist at Vartur Real Estate told Forbes: “Those kinds of individuals are searching for more prominent investments, they’re scared to keep their assets in European countries.”
The United Arab Emirates offers long stretch residence visas through its “Golden Visa Program”. This enables foreigners to live, work, and study in the UAE without the necessity for a public sponsor and with 100% ownership of their business.
The Russian oligarchs could get Golden Visa Program assuming they invest somewhere around 10 million dirhams ($2.7 million) in a close by association or investment store. The UAE government didn’t expeditiously respond to Insider’s request for input, made outside of common working hours.
Abdullah Alajaja, CEO of Dubai land business Driven Properties, told Forbes: “It’s successfully a lifetime residency that you get surrendered by the Dubai government [and] it’s very much reasonable for a considerable part of these wealthy Russians.”