Fashion designer Giorgio Armani has obtained the UAE Golden Visa
November 26, 2021
4 minutes read
A residence program for foreigners has been in effect in the UAE since 2019. The local Golden Visa is issued on the basis of financial security or high professional qualifications.
Visa for fashion designer
Giorgio Armani, 87 years old, made his fortune on the Giorgio Armani S.p.A. brand, which produces premium clothing and accessories. Many awards and prizes under Armani's belt testify about the wide-scale contribution of the Italian in the international fashion industry. Armani is widely renowned in the world of fashion. Hollywood and Bollywood actors, British royalty and famous people from Arabian countries order clothes from him. In 2021 the UAE authorities decided to celebrate the merits of the famous fashion designer and gave him an ID-card of the Emirates resident.
A special ceremony was organized for Armani, who became a resident of the Emirates on the basis of his outstanding professional achievements. The ceremony was attended by celebrities including Major General Mohamed Ahmed Al Mari, who heads the Department of Residence and Alien Affairs, and Giuseppe Finocchiaro, who is the Consul General of Italy in the UAE. After the ceremony, Armani took part in an event dedicated to the anniversary of the opening of the Armani Hotel, located at the Burj Khalifa.
The specifics of the Arab Gold Visa
Giorgio Armani commented to the local media on becoming a resident of the UAE: "Fashion and style in Dubai are in many ways the opposite of what I used to do. This city is very conspicuous, even frenetic. However, there is one element that resonates with what I do. It refers to the quality that Dubai offers to foreigners. It is a real city of the future, showing rapid development. Here, the boundaries of the imagination are pushed to the limit. Dubai is a miracle that surprises the world.".
The Golden Visa program for foreigners is unique. It has no analogues in other Gulf countries. UAE resident visa may be issued to wealthy or talented foreigners, wishing to live freely in this country for up to 10 years. Wealthy investors, successful businessmen, prominent philanthropists, academics, as well as talented professionals in the field of science, sports, art, culture, literature and design can obtain the UAE resident status.
Over the past year, celebrities from different countries have received residence in the UAE by investment. One of the owners of the Arab Golden Visa is the famous Indian actor Sanjay Dutt. The Emirati authorities explain the growing popularity of the investment program by the economic attractiveness of the country, as well as the comfortable living conditions in it.
Gulf investment programs
It is known, that about 90% of the 10 million inhabitants of the UAE are foreigners. The Emirates have created the second largest economy in the Arab world. Therefore, every year more and more foreigners are applying for residence in the UAE.
The Saudi Arabia also intends to issue Golden Visas to wealthy investors, as was announced by the authorities in June 2019. Obtaining a long-term Arabian residence will cost foreigners 800,000 SR (213,286 USD), and an annual ID-card can be obtained for 100,000 SR (26,660 USD). Saudi Arabia's golden visa allows foreigners to reside, buy real estate and do business without the sponsorship of locals.
Qatar has also launched a new program to attract investors, opening its real estate market to foreign investors. Foreigners are invited to buy commercial or residential real estate, in order to obtain the status of a permanent resident of Qatar.
Source: International Wealth
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