Reflecting on the past to inform the UAE's future

“Preparing for the future – near or far – starts today, not tomorrow.” Among much else, the late Sheikh Khalifa’s legacy will be formed by his commitment to securing a strong future for his country. The UAE might be mourning his passing, but it will never lose all he did to strengthen it. As his own father Sheikh Zayed, the Founding Father, said: “Man is mortal, but his work is not.”

When it comes to understanding the Emirates, there could be no better person to begin with than Sheikh Zayed, who in a matter of years harnessed the UAE’s oil wealth, strategic location and common ambition to create one of the most rapidly developed countries in history. He always stressed the importance and strength gained through unity, a theme about which he often spoke. It was this unity that led to the creation of a government quickly able to secure prosperous, stable lives for its people without losing sight of a cherished culture.

When Sheikh Zayed died in 2004, the first transition of power in the UAE’s modern history took place. It was a successful and momentous one, with Sheikh Khalifa stepping forward. If Sheikh Zayed’s legacy is defined by foundation, Sheikh Khalifa’s is one of empowerment.

He was the perfect person to do so, embodying the mixture of openness and patriotism that is at the centre of the UAE. Under him, the country’s population more than doubled, bolstered by people from more than 200 nations coming together to make an even more cosmopolitan society and economy. But he also never strayed from his roots, well-known for his love of meeting citizens in the majlises that he had been attending at the side of his father since childhood.

Now, it is the turn of President Sheikh Mohamed bin Zayed, Sheikh Khalifa’s brother. The responsibility of public service is familiar for him. For 18 years he was Abu Dhabi’s Crown Prince and Deputy Supreme Commander of the Armed Forces. He stood alongside Sheikh Khalifa throughout his remarkable time in office, overseeing historic transformations of the country’s economy, military and society. He also did so in some difficult times, none more so than during the Covid-19 pandemic, which the UAE was able to navigate and emerge from quicker and more safely than most.

Leaders from around the world are gathering in the country to pay their respects. As soon as they arrive, they will see the legacy of Sheikh Khalifa and Sheikh Zayed in the buildings, society and, most importantly, the people of the UAE. Many of them will have known and followed the development of the UAE for decades, and all of them will be connected to the country in some way, whether through strategic, cultural or economic partnerships or the fact that many of their citizens call the Emirates home.

Unique about today’s visits is the chance they offer to reflect in a country that so often focuses on an exciting future, and so often invites fellow nations to be a part of it. But as Sheikh Zayed was always keen to stress, appreciating history is key to getting the full understanding of the Emirates. “A nation without a past is a nation without a present or a future," he once said. The UAE is building on the legacy of the past fifty years, and preparing for the next fifty, as it enters a new chapter under the guidance and stewardship of Sheikh Mohamed.

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THE LOWDOWN

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Rating: 2/5 stars
Produced by: Dharma Productions, Azure Entertainment
Directed by: Robby Grewal
Cast: John Abraham, Mouni Roy, Jackie Shroff and Sikandar Kher

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Citizenship-by-investment programmes

United Kingdom

The UK offers three programmes for residency. The UK Overseas Business Representative Visa lets you open an overseas branch office of your existing company in the country at no extra investment. For the UK Tier 1 Innovator Visa, you are required to invest £50,000 (Dh238,000) into a business. You can also get a UK Tier 1 Investor Visa if you invest £2 million, £5m or £10m (the higher the investment, the sooner you obtain your permanent residency).

All UK residency visas get approved in 90 to 120 days and are valid for 3 years. After 3 years, the applicant can apply for extension of another 2 years. Once they have lived in the UK for a minimum of 6 months every year, they are eligible to apply for permanent residency (called Indefinite Leave to Remain). After one year of ILR, the applicant can apply for UK passport.

The Caribbean

Depending on the country, the investment amount starts from $100,000 (Dh367,250) and can go up to $400,000 in real estate. From the date of purchase, it will take between four to five months to receive a passport.

Portugal

The investment amount ranges from €350,000 to €500,000 (Dh1.5m to Dh2.16m) in real estate. From the date of purchase, it will take a maximum of six months to receive a Golden Visa. Applicants can apply for permanent residency after five years and Portuguese citizenship after six years.

“Among European countries with residency programmes, Portugal has been the most popular because it offers the most cost-effective programme to eventually acquire citizenship of the European Union without ever residing in Portugal,” states Veronica Cotdemiey of Citizenship Invest.

Greece

The real estate investment threshold to acquire residency for Greece is €250,000, making it the cheapest real estate residency visa scheme in Europe. You can apply for residency in four months and citizenship after seven years.

Spain

The real estate investment threshold to acquire residency for Spain is €500,000. You can apply for permanent residency after five years and citizenship after 10 years. It is not necessary to live in Spain to retain and renew the residency visa permit.

Cyprus

Cyprus offers the quickest route to citizenship of a European country in only six months. An investment of €2m in real estate is required, making it the highest priced programme in Europe.

Malta

The Malta citizenship by investment programme is lengthy and investors are required to contribute sums as donations to the Maltese government. The applicant must either contribute at least €650,000 to the National Development & Social Fund. Spouses and children are required to contribute €25,000; unmarried children between 18 and 25 and dependent parents must contribute €50,000 each.

The second step is to make an investment in property of at least €350,000 or enter a property rental contract for at least €16,000 per annum for five years. The third step is to invest at least €150,000 in bonds or shares approved by the Maltese government to be kept for at least five years.

Candidates must commit to a minimum physical presence in Malta before citizenship is granted. While you get residency in two months, you can apply for citizenship after a year.

Egypt

A one-year residency permit can be bought if you purchase property in Egypt worth $100,000. A three-year residency is available for those who invest $200,000 in property, and five years for those who purchase property worth $400,000.

Source: Citizenship Invest and Aqua Properties

Our legal consultants

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.