UAE passport-holders have had a travel boost this week with announcements on visa-free travel to countries in Asia and Europe.
Mutual agreements were signed with Mongolia and Kosovo offering exemptions on visa procedures giving citizens more travel opportunities.
The UAE passport was also identified as one of the most improved in a global ranking of the world’s most powerful passports for visa-free travel around the world.
Elsewhere residents were given advice on saving money in the UAE, Etihad revealed expansion plans for 2024 and Saudi Arabia introduced new residency options for people moving to the Kingdom.
In Dubai real estate experts forecasted an increase to rents this year and a major road transformation was announced.
Catch up on 10 of the biggest stories this week as selected by Arabian Business editors.
UAE announces 30-day visa waiver deal with Asian country
The UAE has signed a mutual visa exemption with a country in Asia.
The UAE and Mongolia have signed a memorandum of understanding (MoU) regarding mutual visa exemption for holders of ordinary, diplomatic, special and mission passports, as part of continued efforts to develop and strengthen bilateral relations and achieving the common interests of the two peoples and countries.
Under this memorandum, UAE nationals who hold regular, diplomatic, special, and mission passports are exempted from a visa to enter Mongolia and can stay there for a period of up to 30 days per visit, and citizens of Mongolia who hold diplomatic, official, and regular passports are exempt from a visa to enter the United Arab Emirates, starting 28th December, 2023.
UAE announces 90-day visa-free travel deal with European country
The UAE has also signed a mutual visa exemption with a country in Europe.
Under this MoU, UAE citizens holding valid passports for at least six months are exempt from the visa requirement for entry to Kosovo and can stay there for up to 90 days per visit. In return, citizens of Kosovo holding valid diplomatic, official, and ordinary passports are exempt from the visa requirement for entry to the UAE.
UAE savings guide: How to save more of your salary with the 50/30/20 rule
This savings rule, was first popularised by Elizabeth Warren – a former Harvard Law professor – and her daughter, Amelia Warren Tyagi, in their 2006 book All Your Worth: The Ultimate Lifetime Money Plan.
Applicable to almost all income groups, this savings rule follows a 3-step strategy:
- 50 percent of your income for needs
- 30 percent of your income for wants
- 20 percent of your income for savings
Etihad announces major expansion plan; new India, US, Kenya flights, 30m passenger target, 160 aircraft vision
Antonoaldo Neves, Group Chief Executive Officer of Etihad Airways, affirmed the airline’s plans for expansion in 2024. This expansion includes broadening its network of destinations, offering more choices to travellers, and increasing flights to key international markets through its global network.
The aim is to usher in a new phase of sustainable growth, underpinned by a robust strategic plan. Neves said that Etihad Airways will introduce new destinations in 2024.
Dubai nol card update: RTA announces new minimum top up
Announced via X (formerly Twitter), the authority said: “#RTA introduces a new nol card top up requirement starting January 15, 2024, at the ticket office for just AED20. Seamlessly obtain or top up a #nol card and embark on your journeys smoothly. #YourComfortMatters.”
The maximum value for an anonymous nol card is AED1,000 while if the nol card has been registered to an individual, the card can hold a maximum amount of AED5,000.
Saudi Arabia announces 5 new visas
The new “premium residency products” are aimed at real estate owners, entrepreneurs and talented individuals coming to the country.
The initiative aims to further drive the country’s economic transformation by creating employment opportunities and fostering knowledge transfers. The five new Premium Residency products are:
- Special Talent
- Gifted
- Investor
- Entrepreneur
- Real Estate Owner
Dubai Umm Suqeim street set for massive $90mn transformation to ease traffic
The project, costing AED332 million, aims to enhance the road network infrastructure to accommodate the city’s sustained growth and ensure smooth traffic flow.
Spanning 4.6 kilometres from the intersection with Al Khail Road to the intersection with Sheikh Mohammed bin Zayed Road, the project will include various upgrades, as per a statement by the authority.
Dubai real estate: Apartment rents to rise further on revised RERA rates, says report
Potential lower mortgage rates may encourage tenants to transition to home ownership, given the trend of faster rising rents compared to capital values. The recently announced Dubai Metro Blue Line is expected to influence demand in communities with improved transport links.
Apartment rents could continue to rise, especially for new contracts, and existing tenants might experience increases in annual renewals due to updates to the RERA rental calculator.
UAE Golden Visa: All the ways to obtain a 10-year residency permit as an investor
The Golden Visa is available to investors who meet specific criteria based on their chosen investment category.
There are four investor categories for obtaining a Golden Visa by investment. These are:
- Investor/Partner
- Deposit Investor
- Real Estate Investor
- Tax Collection Investor
World’s most powerful passports in 2024 revealed
The world’s most powerful passports have been revealed.
A ranking of passports by Henley & Partners identifies the nationalities which are able to travel the world without needing a visa.
An unprecedented six countries share the top spot with visa-free access to a record-breaking number of destinations on the 2024 Henley Passport Index.
Four EU member states — France, Germany, Italy, and Spain — join Japan and Singapore in boasting the most powerful passports in the world, with their citizens able to visit 194 destinations out of 227 around the globe visa-free.
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