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Wednesday 16 June 2021
HomeWorldUAE sees influx of GCC nationals seeking residency

UAE sees influx of GCC nationals seeking residency

The UAE saw a 36 percent increase in the number of Gulf nationals taking up residency in the country last year, according to the latest government data. There are now 7,650 GCC nationals living in the UAE.
A statistical report issued by the Ministry of Finance’s GCC and Arab Countries Affairs Department also revealed that government loans allowing GCC nationals to set up industrial projects rose by 267 percent to $5.4m.
The number of GCC nationals working in the UAE’s private sector grew by 45 percent to 3,080 last year, while a significant number of Gulf citizens also work in semi-government, federal and local government levels. 
Gulf students studying in local schools rose by six percent, with most of the 16,463 educated in public schools.
A total of 22,706 Gulf nationals now own property in the UAE, and last year, 1,885 licences for professional and commercial activities were awarded to citizens from other Gulf states.
The data was released to highlight the UAE’s efforts to improve integration with other GCC countries under the Gulf Common Market (GCM) scheme.
The GCM project is designed to allow greater freedom of movement and residence for GCC nationals throughout the Gulf member states, including the ability to work in government and private sectors.
“Executive decisions taken by UAE to activate GCC resolutions have helped us be at the forefront of GCC countries working to promote economic and investment cooperation,” said Obaid Humaid Al Tayer, the UAE’s Minister of State for Financial Affairs.
“We play a vital role in implementing the concept of GCC economic citizenship. The UAE has a major contribution in promoting investment, sustainable economic development and economic exchange amongst GCC countries.”

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