Policy experts and expat Indian business leaders have hailed a move by the UAE to amend its nationality law as a “huge leap forward” and “historic”.
They have told Arabian Business that the decision allowing investors, professionals, special talents and their families to acquire Emirati nationality under certain conditions is bound to attract more investment and talent from the south Asian country.
Experts were also unanimous in their opinion that this move would instill more confidence among Indians to set up businesses or taking up professional assignments in the Gulf country, irrespective of whether they finally make the cut for citizenship or not.
“This is very much a similar move initiated by countries like the US decades earlier – and still continuing – to attract best talents from emerging countries. Those countries succeeded in attracting the best talents across various fields, besides entrepreneurs from India and a similar move by the UAE is also bound to attract top talents and entrepreneurship from India from now on,” Ashok Jha, a former finance secretary in government of India and a policy expert, told Arabian Business.
“The UAE may not offer the kind of better living conditions that the Western countries offer, but it can compete in terms of higher salaries and growth prospects to attract top talents and investors from India,” added Jha, who also served at the Indian embassy in the US.
The UAE government on Saturday approved changes to the Executive Regulation of the Federal Law concerning Nationality, allowing investors, professionals, special talents and their families to acquire Emirati nationality under certain conditions.
The UAE cabinet, local courts and executive councils will nominate those eligible for the citizenship under criteria set for each category. The law will also allow receivers of the UAE passport to keep their existing citizenship.
Expat Indian businessmen
“While it (the move on nationality law amendment) will help many people who have played a significant role in the development of the country through years of dedicated efforts, it will also help to attract new talents in various specialized fields to this oasis of peace and prosperity,” Dr Azad Moopen, founder chairman and managing director of Aster DM Healthcare, told Arabian Business.
“This will further propel UAE to be one among the most progressive countries in the world,” Moopen said.
Dr Azad Moopen, founder chairman and managing director of Aster DM Healthcare
Dr Siddeek Ahmed, another prominent Gulf-based expat Indian businessman and chairman of the Saudi-based Eram Group, added: “This move is certain to attract and retain new investors not just to the UAE but also to the greater Arab region.”
“With this amendment on nationality aimed at professionals with special talent and key investors who will further have defining roles in the UAE’s nation-building process, the country’s image as a key investment-friendly and global business hub will get quite a boost,” Ahmed said.
According to Ahmed, who’s Eram Group runs operations in GCC and overseas across several sectors including oil and gas, power, construction, manufacturing and IT, this step will also reenergise highly skilled Indians as well as professionals who want to make a strategic move especially in the areas of medicine, engineering and creativity.
Dr Siddeek Ahmed, chairman of the Saudi-based Eram Group
Policy and corporate sector analysts said Dubai – and the wider UAE – has over the years become the modern gateway to both developed and developing economies.
“Given the high quality of governance, safety and security Dubai offers its residents, it has been a popular destination for working professionals, intellectuals and businessmen to relocate with their families, with the added benefit of tax free income and high quality of life,” a senior HR executive with a GCC-based large consumer group, who did not wish to be identified, told Arabian Business.
However, he pointed out that with the pandemic and other recent economic downturns, the UAE had started losing its residents to their home countries as their dependency on employer visas left no option but to leave the country in large droves.
“The move (on nationality law amendment) will not only help UAE to stem the erosion of good talent back to their home countries or to other western countries, but will also attract some of the best, if the path to citizenship remains smooth and trouble-free which is what UAE governance is known for, the senior corporate executive said.
“Moreover, the UAE passport has ‘visa-free’ or ‘visa-on-arrival’ access to numerous – about 174 – countries unlike passports of other developing economies in South Asia including India,” the corporate executive said.
Describing the latest initiative by the UAE as a “smart move”, Dr K N Harilal, Associate Fellow at the Trivandrum-based Centre of Development Studies, said the Gulf country now wants to seek “investment with entrepreneurship and talent”.
Harilal, who is also a member of the Kerala State Planning Board – the Indian state which accounts for the largest number of leading expat businessmen in the UAE and GCC and also the largest chunk of expatriate Indians in the Gulf region – said the move would provide the much needed confidence to Indian investors and professionals while deciding on moving to the UAE.
“Unlike the US or the UK, Indians moving to the UAE – or for that matter any of the Gulf countries – never had the full comfort level as they knew that they would have to return at some point. This amendment would go a long way in reassuring Indians, especially the top rung ones,” he said, adding that “a decision on opting for citizenship would depend on several other factors as well”.
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