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Welcome to NextGenFDI
What is “NEXTGEN FDI”?
NextGenFDI is a national initiative launched by the Ministry of Economy in July 2022 in partnership with ADGM, DIFC, Dubai Internet City, Dubai South, DMCC, Emirates NBD , WIO Bank , Sharjah FDI Office (Invest in Sharjah), Sharjah Research Technology and Innovation Park (SRTI Park), Sharjah Media City (Shams), Sharjah Islamic Bank , ARADA,Ras Al Khaimah Economic Zone (RAKEZ),G42 cloud and Citizens School
. The initiative aims to attract digitally enabled businesses from all over the world and provide them with the necessary market entry fundamentals needed to launch and scale from within the UAE.
Building on the UAE’s global position as a leading business, investment, and innovation hub, NextGenFDI will support the growth of the nation’s knowledge-driven economy, by enabling rapid incorporation processes to speed up licensing; facilitating the issuance of bulk or golden visas; accelerating banking services; and providing commercial and residential lease incentives for advanced technology companies seeking to relocate to the UAE.
The initiative will continue to adopt a wide array of measures in phases to make the market entry process simpler and more efficient for companies.
Residential Real Estate
Our strategic partners are committed to using their best efforts to expedite the incorporation process. We acknowledge that, at times, formalities such as notarizations and attestations may hold up the company set up process. Our partners have committed to being as flexible as possible to move the needle on the company formation process, given that the company/applicant submits all necessary documents on or before the set date, which will therefore ensure a swift process with guaranteed compliance.
There is no one-size-fits-all approach. However, companies with large developer operations (DEVOPS), data-scientists, AI engineers, UI/UX specialists and complex programmer profiles are most likely to benefit from this initiative as our strategic partners are market leaders in providing the necessary infrastructure and opportunities for these companies.There is no one-size-fits-all approach. However, companies with large developer operations (DEVOPS), data-scientists, AI engineers, UI/UX specialists and complex programmer profiles are most likely to benefit from this initiative as our strategic partners are market leaders in providing the necessary infrastructure and opportunities for these companies.
The golden visa option will be made available to those that are highly skilled and meet the eligibility requirements under this scheme. Given that we are looking at highly skilled talent as part of the companies that will be establishing themselves in the UAE under the NextGenFDI initiative, we expect to see a high contingency of candidates that will qualify for the golden visa within the applicant pool. For those that may not be eligible, we will still ensure that the conventional visa process is carried out seamlessly, where possible in bulk but also subject to the security checks that are in place in the UAE.
We recognize that banking readiness is as important as having a commercial license and one can’t function without the other. In Phase 1, we are pleased to have engaged Emirates NBD and WIO – both banks with digital offerings, and a willingness to rely on core documentation needed to establish banking capabilities for the companies as they put down roots in the UAE.
Emirates NBD has also committed to ensuring that the employees of companies have easier access to bank accounts to ensure their salaries are transferred seamlessly under the NextGenFDI Initiative.
The NextGenFDI initiative is the first integrated package to facilitate company formation and offer banking, visa and real estate services in a streamlined manner through a whole-of-government approach. We have plans to scale this initiative further and ensure that companies wishing to relocate to the UAE can do so as simply as possible.
This initiative does support the UAE’s National Strategy for Talent Attraction and Retention, as well as The National Program for Coders, which aims to establish 1,000 new digital companies.