According to a study by real estate broker Savills, Dubai has become the favored destination for roaming executives, surpassing Lisbon.
The study evaluated the top 20 housing markets based on their attractiveness to long-term remote workers. It was revealed that Dubai attracts high-ranking hybrid workers with its rapidly growing sectors of financial technology and services. Many of the dismissed executives who were affected by job cuts in the technology industry see Dubai as a hub with a burgeoning high-tech economy.
The pandemic also prompted many leaders to relocate to other parts of the world, including warm coastal cities with well-developed airports, due to the transition to a hybrid work model. On average, they spend 1.75 days a week in the office. A study by AWA found that 37% of employers plan to reduce office spaces.
Lisbon's attractiveness for digital nomads decreased due to the rise in rent for premium real estate. Following Dubai in the ranking is Malaga in second place, and Miami in third.
Digital nomads can obtain a virtual residency visa for the United Arab Emirates remotely.
They are not required to be physically present in the UAE during the application process, significantly facilitating the process for those who work for foreign companies and want to obtain a work visa without a local sponsor. Residency visas for digital nomads are issued for one year with the possibility of extension. Applicants can apply through the website or the UAEICP smart application, but they must enter the UAE within 60 days after receiving the entry permit and complete the residency procedures.
Applicants need to provide a passport that is valid for at least 6 months from the date of application, a recent photograph, and medical insurance covering healthcare services in the UAE. Additionally, proof of employment with a contract term of one year from the employer, a minimum monthly salary of US$ 3500, an income certificate for the previous month, and bank statements for the past three months are required.
The fee for virtual visa processing is slightly less than US$ 100. If an applicant provides an incomplete set of documents, their application will be rejected within 30 days, and they will receive a refund of the service fees within six months.