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Hub71 to endorse global tech entrepreneurs for Golden Visas in Abu Dhabi

reporters@khaleejtimes.com Filed on July 25, 2021
Hub71 will endorse qualified entrepreneurs, as a first step, to enter the application process for the Golden Visa with ADRO. — Supplied photo

The 5-year Golden Visa enables entrepreneurs locally and worldwide to set up businesses in Abu Dhabi, facilitating long-term market access for world-leading tech talent.

Hub71, Abu Dhabi’s global tech ecosystem, has been selected by Abu Dhabi Residents Office, a division of the Department of Economic Development (ADDED), to endorse exceptional tech talent for their Entrepreneur Golden Visa from Abu Dhabi.

Hub71 will review, evaluate 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). Once entrepreneurs obtain a letter of endorsement from Hub71, ADRO and the ICA will manage enquires relating to final visa approval and issuance of the Entrepreneur Golden Visa.

The Entrepreneur Golden Visa is valid for five years and enables entrepreneurs who are foreign nationals and UAE residents to make the UAE 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 the entrepreneur’s executive directors could also be covered under the visa, enabling them to live, work and study in a vibrant market 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 including FinTech, HealthTech, EdTech, E-commerce, AI and big data.

Ibrahim Ajami, Interim CEO at Hub71 and Head of Ventures and Growth at Mubadala Investment Company, said: “Being entrusted as one of the key organizations in the UAE to review and endorse talented tech professionals for the Entrepreneur Golden Visa is further recognition of our credibility as a

leading technology ecosystem at the forefront of stimulating entrepreneurship. 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.”

Eligibility minimum valuation of Dh500K

For eligibility, entrepreneurs must own a successful project in the UAE with a minimum valuation of Dh500,000. 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. For entrepreneurs whose projects are focused on other sectors, Hub71 has the authority to endorse their application as an accredited organisation by ADDED.

business@khaleejtimes.com

Staff Reporter





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