Abu Dhabi’s global tech ecosystem, Hub71 has been selected by the Abu Dhabi Residents Office (ADRO), a division of the Department of Economic Development (ADDED), to endorse the tech talent for their Entrepreneur Golden Visa from the Emirate.
Hub71 will review, examine and issue endorsement letters to entrepreneurial talent for the Entrepreneur Golden Visa based on requirements set by ADDED and the Federal Authority For Identity and Citizenship (ICA).
After entrepreneurs obtain a letter of endorsement from Hub71, ADRO and the ICA will manage inquiries relating to final visa approval and issuance of the Entrepreneur Golden Visa. The validity of the Visa is for five years and it allows entrepreneurs who are foreign nationals and UAE residents to make the country their long-term home to build and scale technologies and innovative solutions.
In addition to the entrepreneurs, their spouses, children and up to three of their executive directors could also be covered under the visa, without the need for a national sponsor.
Innovation, entrepreneurship and advanced industries are clear priorities for the UAE as part of its ambition to create a diversified knowledge-based economy in line with the UAE Centennial Plan 2071.
Hub71 will review applications from entrepreneurs operating in a diverse range of technology sectors such as FinTech, HealthTech, EdTech, eCommerce, artificial intelligence (AI) and big data.
“Abu Dhabi provides entrepreneurs with the infrastructure, resources and support from both the public and private sectors to enable founders to succeed in a growing market where innovation is central to its long-term future. We are calling on changemakers within our community, locally and globally, with bright ideas and a bold vision to advance sectors of national importance and make a positive difference to our society, embracing the growth opportunities the UAE presents.”
For eligibility, entrepreneurs must own a successful project in the UAE with a minimum valuation of $136,121. Projects must also relate to defined economic sectors, information and telecommunications technology, financial services, health, medical and pharmaceutical industries, tourism, agriculture and manufacturing of food and agriculture products, aviation and defense, petrochemicals, industry and education. Hub71 is also authorized to endorse the application of entrepreneurs whose projects are focused on other sectors, as an accredited organization by ADDED.