Dubai is considering a plan to introduce a special visa system to lure foreign entrepreneurs to the emirate, it was reported on Thursday.
The EntrePass scheme would encourage budding start-ups with high commercial value to set up in Dubai, UAE daily The National reported.
In return, entrepreneurs will have their visa application expedited and be provided with guidance from experts at the Mohammed Bin Rashid Establishment (MBRE) for SME Development in starting their businesses, the paper said.
“We want Dubai to be the centre for innovative small and medium enterprises [SMEs],” Alexandar Williams, the director of strategy and policy division at MBRE, told the paper.
“The future of Dubai will rest on nurturing selective foreign entrepreneurs with good ideas to use Dubai as a test bed for development and to build business around it.”
In the fourth quarter, MBRE will launch a pilot programme for EntrePass involving 10 entrepreneurs before widening the scheme, the paper added.
Based on a similar system in Singapore, EntrePass is designed as an alternative to conventional business visas.
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