Hub71 selected to endorse tech entrepreneurs for Golden Visas in Abu Dhabi
- By Web Desk -
- Jul 26, 2021
ABU DHABI: Hub71, Abu Dhabi’s global tech ecosystem, has been selected by the Abu Dhabi Residents Office (ADRO), 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 enquiries relating to final visa approval and issuance of the Entrepreneur Golden Visa.
The 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, 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.
For eligibility, entrepreneurs must own a successful project in the UAE with a minimum valuation of AED500,000. 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 defence, 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.