After more than 2 years, UAE lifts visa ban on Nigeria to open business prospects and educational opportunities. Nigeria and the UAE are ready to allow the resumption of travel, according to Nigerian information minister Mohammed Idris Malagi. Starting from 15 July 2024, Nigerians can apply for visas to the United Arab Emirates.
This announcement comes more than two years after the UAE suspended visa issuance to Nigerians. The agreement includes up-to-date controls and conditions to facilitate obtaining an Emirati visa for Nigerians. This announcement follows successful negotiations between the two countries on the presidential and ministerial levels.
Economic benefits of the UAE for Nigerians
United Arab Emirates is a prime investment opportunity for Nigerians due to its business-centric policies. Its strategic location at the crossroads of Asia, Africa, and Europe makes UAE valuable for Nigerian expatriates. These are some of the favorable rewards of the UAE for Nigerian entrepreneurs and business owners.
- Business-friendly Framework
- Supreme Infrastructure
- Low Taxation Rates
Now, we briefly discuss these incentives of the UAE for Nigerians and other foreign investors.
Business-friendly Framework
The business-friendly regulatory framework of the United Arab Emirates is much popular. Especially, it makes Dubai and Abu Dhabi one of the most suitable destinations for entrepreneurship. This makes it easy to set up and run a business in the UAE.
Supreme Infrastructure
United Arab Emirates boasts world-class infrastructure for industrial and business expansion. Its modern transportation systems include air/sea travel, well-connected metro network, and extensive road ways. Moreover, its advance-level telecommunications and utilities are cherry on the cake.
Low Taxation Rates
UAE’s low corporate tax and no personal income tax are highly lucrative for Nigerian investors. It lets Nigerian startup owners with much financial capital to reinvest in their businesses. Or, they can explore other investment opportunities thanks to the favorable economic environment of Dubai and other Emirates.
Considerations for Expanding Nigerian Business to UAE
Here are some things to consider while you aim expansion of business from Nigeria to the UAE.
- Observation of Financial Market
- Legal and Monetary Compliance
- Understanding Cultural Norms
