Daily Archives: January 5, 2019

The region’s largest EB-5 and Uglobal Immigration Expo set to draw major crowd in Dubai

IRVINE, Calif., Jan. 4, 2019 /PRNewswire/ — The teams of EB5 Investors and Uglobal Immigration magazines are bringing their long industry experience to host the EB-5 and Uglobal Immigration Expo in Dubai, United Arab Emirates, on Feb. 10-11, 2019.

In light of Dubai becoming a magnet for foreign high net worth individuals with more than 8,600 multi-millionaires, the two-day investment immigration expo at the luxurious JW Marriott Marquis Hotel will gather hundreds of migration agents, attorneys, investors, developers, EB-5 regional centers and other distinguished global immigration investment professionals.

The conference will feature interactive panels moderated by experienced industry key players, as well as in-depth educational workshops, networking opportunities and a large exhibitor hall with companies from around the globe.

Attendees can learn about the latest trends and regulations of the American EB-5 Immigrant Investor Program as well as other global investment immigration programs, including Greece, Malta, Portugal, Cyprus, the United Kingdom and various Caribbean island nations.

“Given our success in hosting events throughout the world, we want to share our industry experience to the growing market of Dubai and surrounding countries,” said Ali Jahangiri, publisher of EB5 Investors and UglobalImmigration magazines. “The MENA region — and United Arab Emirates, in particular — is increasingly becoming a hub for investment immigration activity as investors look to expand their worldwide mobility. We can’t wait to share our network of professionals with attendees of our Dubai expo.”

Panel topics will include educational updates on EB-5 legislation and due diligence, European investment immigration options, global mobility and regional issues facing investors and service professionals in the MENA region.

The expo organizers, a United States-based company, is the force behind America’s largest EB-5 publication and the leading global citizenship-by-investment and residency-by-investment publication. Over the last decade, it has hosted conferences around the world in destinations from Los Angeles, New York and Las Vegas to China, Brazil, South Korea, India and Vietnam.

To register for the EB-5 and Uglobal Immigration Expo Dubai, please visit Eb5investors.com & Uglobal.com.

For more info, contact Editor-in-Chief Marie Ekberg Padilla at marie@eb5investors.com

Asian Cup UAE 2019: UAE 1-1 Bahrain

ABU DHABI, The 2019 Asian Cup started dramatically as a last gasp Ahmed Khalil penalty ensured the UAE a share of the spoils as they drew 1-1 with Bahrain in their Group A opener today.

With time running out, Khalil impressively converted from 12 yards for the 1996 AFC Asian Cup runners-up after Mohamed Al Rohaimi had given the guests the lead just 10 minutes earlier.

The draw, played out in front of 33,000 spectators at Abu Dhabi’s Zayed Sports City Stadium, sees the regional rivals tied at the top of the Group A standings ahead of Sunday’s match between fellow group hopefuls India and Thailand.

After a cautious opening, it was to be the UAE who threatened first. The hosts could have been ahead early on had Ismail Al Hamadi kept his cool when one-on-one with Sayed Shubbar Alawi, while Komail Alaswad went close with a dipping free-kick at the other end.

Source: Emirates News Agency

AED60 bn of labour compensations in nine months

ABU DHABI, Labour compensations in the UAE rose to circa AED60 bn during the first nine months of 2018, a growth of 9.5 percent from AED54.8 bn during the corresponding period of 2017, according to Ministry of Finance’s statistics.

These include the salaries and wages of employees and their benefits in cash and in kind.

The growth reflects the good living standing enjoyed by UAE citizens and residents alike and the level of social welfare that earned the country a prestigious international status across international financial indicators that measure welfare standards globally.

The UAE has been rated number one globally in 50 indices covering vital community and service sectors, according to the Global Competitiveness Index 2017-2018.

The UAE led in the region and the world in various indices, including the quality of government decisions, the government’s ability to adapt to changes, the effectiveness of government spending, and investment attractiveness as well as the education sector. They also included public-private partnerships, development and application of technology, the quality of tourism infrastructure, corporate digitalisation, gender equity, tolerance with foreigners.

According to the MoF figures, labour compensations picked up from AED19.322 bn during Q1 2018 to AED20.00 bn in Q2. In Q3 they rose to AED20.62 bn, a growth of 3.1 percent over the preceding quarter.

During the first nine months of 2018, the labour compensations accounted for 21.7 percent of the consolidated government spending, which includes federal and local government expenditure.

Source: Emirates News Agency

DED implements automatic fine settlement to enhance ease of business and sustainability

DUBAI, The Commercial Compliance & Consumer Protection (CCCP) sector in the Department of Economic Development (DED) has announced an automatic settlement facility for traders eligible for 50% reduction on commercial fines. The announcement is in line with the declaration of 2019 as the Year of Tolerance by President His Highness Sheikh Khalifa bin Zayed Al Nahyan and also represents DED’s efforts to enhance competitiveness and ease of business.

The 50% reduction is applicable only on fines issued for the first violation in a calendar year. As per the new facility, as soon as a commercial violation is entered in the system the trader receives a text message with an automatic reduction of 50% in the fine. Previously, the customer had to request a settlement upon which the system verified the trader’s eligibility for any reduction in fines.

Mohammed Ali Rashid Lootah, CEO of CCCP, said: “The Department of Economic Development is proud to launch initiatives based on the vision and directives of our leadership, especially when 2019 begins as the Year of Tolerance. We want to provide best quality services to as many businesses as possible in Dubai. The automatic fine settlement facility will contribute to enhancing happiness in Dubai and the emirate’s position across global competitiveness indicators.”

Lootah added that DED received more than 4,650 fines settlement requests in 2017 and 2018 under the previous system itself.

“The net value of fines settled under the 50% reduction in 2017-2018 was AED 23.4 million. We believe that the new automated system will be smoother and more flexible as it will automatically adjust the fines and benefit more business owners.”

CCCP seeks to launch services and initiatives that enhance the business environment in line with the aspirations of the UAE to build a tolerant and open society, promote cultural dialogue, and elevate Dubai into a global capital financial capital as well as a destination for sustainable business growth as targeted in the strategic plan of the government on Dubai.

Source: Emirates News Agency