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More than half of eligible UAE expats seek second passport


About 51 percent of the eligible expatriates of the UAE are seeking a second passport According to a research by AAA Associates, a leading immigration service provider.  

 

The AAA associates report finds that the nationals of Syria, Yemen, Lebanon, Saudi Arabia, Bahrain, Kuwait, Oman, India and Pakistan are increasingly seeking second citizenship due to a change in their economic status and their ability to avail the second passport that allows them visa free travel to more than 120 countries.

 

Nationals of these countries usually have to go through stringent visa screening process. A second passport eliminates that and helps them travel freely around the world.

 

A number of global immigration consultants and advisors will join the 10th edition of the International Real Estate and Investment Show (IREIS) – which is going to take place at Abu Dhabi National Exhibition Center (ADNEC) from November 1 to 3, 2018, to advice potential immigrants seeking a second passport in return of investment for relocating to other countries for better economic prospects.

 

This offers an opportunity for the would-be immigrants to directly seek the immigration options and fast-track visa process to a number of countries.

 

The UAE, which hosts more than 8 million (88%) expatriates, is an ideal hub for second citizenship and residency prospects for countries in Europe, America, Canada, the Caribbean and Australia – who attract wealthy investors and skilled immigrants through business and investment immigration programmes offered to boost their economic growth.

 

IREIS 2018 exhibition occupies an area of more than 10,000 square meters and is expected to exceed 12,000 visitors and end users seeking to acquire the nationalities of other countries for real estate investment. This year, the exhibition will feature more than 125 leading local, regional and international exhibitors from 25 countries including Egypt, Greece, Turkey, India, the Philippines, Pakistan, Cyprus, Spain, the United Kingdom and the United States. Real estate developers, financial institutes, investors and business experts are taking place in this exhibition to showcase its innovative products and services to its visitors and buyers.

 

Citizenship and Residency Expo Pavilion at IREIS 2018 is set to help the large number of High-Net-Worth-Individuals (HNWIs) from around the world in finding their dream destination and investment opportunities.

 

IREIS also hosts the FDI Forum, which aims to create opportunities for companies and participating countries to form regional and international partnerships.

 

Antoine Georges, Managing Director at DOME Exhibitions, organisers of IREIS 2018 said: “As the world is becoming a global community due to increasing digitalization, economic mergers and protectionism, we thought to give added value to our exhibitors, investors and visitors. IRIES 2018 is going to be a bigger and more valuable experience for our partners.

 

The Citizenship by Investment (CIP) industry is growing. The Caribbean region is the global capital of these programs. A passport from Dominica can be had in return for a $100,000 investment. In 2015, Caribbean nations effectively sold an estimated 2,000 passports through citizenship-by-investment programs, up 100% over the past five years.

 

Sam Bayat, CEO of UAE based Bayat Legal Services’ said: “We are into immigration and legal services since 1993. Says three quarters of population here in UAE are expats who do not want to go back to their home country and interested in migrating to another country. We are participating in IRIES from the last two years and have got excellent such enquiries.

 

“Our immigration advisors in Abu Dhabi are from different immigrating destination helping clients with best advice on their investments in the Citizenship by Investment (CIP) programs.”

 

The IREIS Abu Dhabi 2017, held last November witnessed an increase of about 30% in the number of real estate developers’ participation. The list of these companies included Damac Properties and Al-Futtaim.

 

Drawing the participation of 125 exhibitors from 24 countries and 8,521 investors from 73 nationalities, the last year show created sales volumes of over US$180 million (Dh660 million).

 

DOME Exhibitions, organisers of IREIS 2018, hosts exhibitions in the emirate of Abu Dhabi, London, and Pakistan and helps bilateral trade and extend their reach and enhance their visibility in the global marketplace.