Over the last few days, luxury yacht owners can apply for a 10-year UAE Golden Visa through the recently announced Abu Dhabi Golden Quay. This program that has been developed by the Department of Culture and Tourism – Abu Dhabi in conjunction with partners in the Abu Dhabi Investment Office and Yas Marina is intended to target HNW customers and advance Abu Dhabi’s standing as a premier enjoying yacht segment.
Eligibility Criteria
This program is for all private yacht owners with facilities with a size of 40 meters or larger. Further, the main executives of the yachting companies, the shareholders of the yacht-building companies, the biggest agents, and service providers, and insurers can also apply for the Golden Visa. Relatives of approved nominee are also benefited in Residential practice.
Yas Marina and the Abu Dhabi Investment Office will be official nominating bodies for the initiative. Further information regarding the vacancies of the company can be discovered in the official website of Golden Quay, www.goldenquay.ae.
On this account, it is prudent to find out how awareness of Abu Dhabi as the destination of luxury can be put into practice.
The announcement comes after DCT Abu Dhabi exhibit at the Monaco Yacht Show, where Abu Dhabi was presented as a luxury yacht Charter Destination. Saleh Mohamed Al Geziry Director-General of Tourism at DCT Abu Dhabi stated that Abu Dhabi was keen to provide easy access to modern standardized marinas and upon arrival the visitors would be offered privileges and services of world-class marine infrastructure.
Economic and Lifestyle benefits
The initiative does not contradict the vision for sustainable tourism growth that was set by the government of Abu Dhabi. Hareb Al Mheiri, Executive Director of the Abu Dhabi Investment Office, explained the benefits to yacht owners, including getting access to the best places to moor the yachts together with cultural possibilities of the city. Jonathan Brown, Chief Asset Officer at Miral said this move to add yacht possession and executive membership club ownership to golden visafriendly countries helps make Yas Island as a specialized worldwide leisure destination.
High-Net-Worth Appeal
The UAE remains the host nation of millionaires with 116500 of people annually and 308 centi-millionaires, 20 billionaires in the year 2024.
