Initiative to attract high-net-worth investors
Abu Dhabi has launched the ‘Abu Dhabi Golden Quay’ initiative, enabling luxury yacht owners and executives in the yachting industry to be eligible for the UAE’s coveted 10-year golden visa. This move reinforces Abu Dhabi’s status as a luxury yachting hub while attracting high-net-worth individuals (HNWIs) to invest in the emirate’s growing marine and tourism sectors.
Eligibility Criteria and Benefits
The initiative, spearheaded by the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi), in collaboration with Yas Marina and the Abu Dhabi Investment Office, focuses on yacht owners with vessels measuring 40 metres or longer. Key executives in the yachting sector, shareholders of yacht-building companies, service providers, agents, insurers, and their families are also eligible.
Eligible individuals gain 10-year golden residency, offering seamless access to Abu Dhabi’s premier marinas, state-of-the-art marine facilities, and a host of luxury experiences. More information can be accessed via the official website (goldenquay.ae).
Strategic Promotion and Vision
The announcement was made following Abu Dhabi’s participation at the Monaco Yacht Show, where it was highlighted as a global luxury yachting destination. The initiative aligns with the emirate’s vision for sustainable tourism growth and economic diversification.
Saleh Mohamed Al Geziry, Director-General of Tourism at DCT Abu Dhabi, remarked, “We continue to enhance the extraordinary experiences offered to yacht owners, solidifying Abu Dhabi as a global luxury yachting capital.”
Yas Marina: A Key Player
Jonathan Brown, Chief Asset Officer at Miral, noted that Yas Marina plays a pivotal role in the initiative, offering award-winning facilities, mega yacht hosting capabilities, and recreational amenities. He stated, “Extending golden visas to yacht owners and industry executives further positions Yas Island as a global hub for leisure and entertainment.”
Growing Wealth in the UAE
The 2024 Henley & Partners Private Wealth Migration Report indicates the UAE is a top destination for HNWIs, with over 116,500 millionaires, including 20 billionaires. The golden visa initiative aims to tap into this affluent demographic, contributing to Abu Dhabi’s dynamic economy and cultural environment.
The ‘Abu Dhabi Golden Quay’ initiative marks another step in cementing the UAE’s global reputation as a luxury destination. With its strategic benefits, the programme is set to attract wealthy individuals and businesses, driving economic growth and reinforcing Abu Dhabi’s appeal as a leading yachting and tourism capital.
