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A changing Middle East in urgent bid to revive economies

The recent marked changes to visa polices in the Middle East come as states in the region jockey for greater influence in a post-coronavirus order. The UAE’s recent announcement that certain expatriates could receive Emirati citizenship. UAE endeavors to expand eligibility for Emirati citizenship and long-term residence are part of a concerted effort to retain and attract the talented expatriate residents needed for a robust economy.

Elsewhere in the region, Iraq has begun to relax its highly restrictive visa policies, recently announcing that citizens of over 35 countries, including the US and the UK, may obtain a 60-day visa-on-arrival. These waivers, however, are unlikely to be reciprocated in the near future. Iraq’s government hopes that the new measures will stimulate tourism, encourage investments, and create employment. However, ongoing security challenges and persistent protests are likely to weigh on investor confidence and dampen demand for tourism.

The Covid-19 pandemic has frustrated the hope of a new normal for Africa and will most likely define the progress of human mobility and commerce for at least another year. New waves and variants of the disease, challenges in vaccine rollout, and bureaucracy have closed borders across the continent and stalled or halted travel and trade…Some countries will not receive widespread vaccination coverage before 2023…The implications for mobility of Africans, trade, and tourism are huge.

Appeal of investment migration surges amid ongoing volatility

Countries offering residence- and citizenship-by-investment programs continue to perform very well on the Henley Passport Index, with Malta being a prime example in 8^th position with a visa-free/visa-on-arrival score of 186 (an increase from its score of 184 in January’s index). Other top-performing investment migration program host countries include Austria (ranked 5th, with a visa-free/visa-on-arrival score of 189), Australia (ranked 9th, with a score of 185), Portugal (ranked 6th, with a score of 188), St. Lucia (ranked 30th, with a score of 146), Montenegro (ranked 44th, with a score of 124), and Thailand (ranked 65th, with a score of 80).

there has been a significant spike in demand for investment migration programs as entrepreneurs and affluent investors seek to overcome the lifestyle limitations and corporate and financial risks of being restricted to a single jurisdiction. “It is clear that diversifying country risk has become a priority in terms of personal access rights as well as financial and property investment. Even high-net-worth individuals from advanced economies with premium passports and world-class healthcare systems are now looking to create portfolios of complementary citizenship and residence options. They all share the same intention — to access health security and optionality in terms of where they can live, conduct business, study, and invest, for themselves and their families.