Abu Dhabi on Wednesday, December 25, launched the ‘Golden Quay’ initiative, which grants Golden Visas to superyacht owners. This aims to attract high-net-worth individuals to invest in and explore Abu Dhabi.
The initiative has been launched by the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi), in collaboration with the Abu Dhabi Investment Office (ADIO) and Yas Marina, operated by Yas Asset Management, a subsidiary of Miral.
This initiative grants yacht owners a 10-year UAE Golden Visa, granting them long-term residency and access to Abu Dhabi’s business ecosystem, luxury lifestyle, and world-class marinas, the Abu Dhabi Media Office (ADMO) reported.
Through the Golden Quay, yacht owners can enjoy unparalleled access to the emirate’s investment opportunities.
Saleh Mohamed Al Geziry, Director General for Tourism, Department of Culture and Tourism – Abu Dhabi, said, “The launch of Golden Quay to Abu Dhabi showcases DCT Abu Dhabi’s commitment to driving the emirate’s luxury tourism and yachting sector forward.”
“We continue to support the growth of the luxury sector by creating innovative pathways that attract investment and high-profile visitors to the emirate, in line with our Tourism Strategy 2030,” he added.
Who is eligible?
Yas Marina and Abu Dhabi Investment Office will be responsible for nominating private yacht owners with vessels 40 meters or longer for the golden visa.
The programme includes yachting sector executives, shareholders, agents, service providers, insurers, and family members of nominated individuals, who may also be eligible for golden residency.
UAE Golden Visa
The golden visa was created by the UAE government in 2019 which allows foreigners to live, work and study in the country without the need for a national sponsor and with 100 percent ownership of their business on the UAE mainland.
These visas are issued for 5 or 10 years and are automatically renewed.
The visa is open to investors, entrepreneurs, extraordinary talents and researchers in many disciplines of technology and knowledge, as well as extraordinary students.
On January 25, UAE scrapped the minimum down payment of Dirham one million for individuals seeking a golden visa through real estate investment.
