Latest Updates From The UAE
Latest Developments In The United Arab Emirates And The Middle East, Including Dubai Updates
UAE OIL Abu Dhabi Middle East Dubai Sheikh Mohammed Mohammed Bin Zayed
Major Updates On Top Tech Giants
ICP Details How to Acquire Residence Visas in the UAE.
Procedures for obtaining, renewing, or altering a permit have been made clearer. The procedure to obtain a UAE residency visa has been made more straightforward.
Abu Dhabi: The Federal Authority for Identity, Citizenship, Customs and Port Security has elucidated the process and steps for obtaining, renewing, and altering residency permits. This effort is in line with the UAE's dedication to enhancing digital services and automation.
Via social media, the authority explained that to apply for issuance, renewal, or modification, one must log into an account on the authority’s website or smart application using the UAE Pass. The applicant should select the person for whom the service is needed, choose the desired service, verify and update the retrieved information if required, and finalize the payment of any applicable fees.
The authorities have stated that an email is sent to the applicant's registered email address to confirm the issuance of the residency permit. Subsequently, the Emirates ID linked to the residency application is dispatched via authorized courier services as the concluding step.
Service For Issuing Residence Permits
This service allows for the issuance of a new residency permit, provided by ICP. Applications can be submitted through:
- Customer Happiness Centres: During official working hours.
- Smart Services System (Website & Smart App): Available 24/7, with the important requirement of logging in using the UAE Pass.
This service enables the issuance of a new residency permit for foreign professionals and labour force. Applicants must submit their requests through the selected service channel and ensure all steps are completed, including:
- Reviewing and updating retrieved application data if required.
- Attaching the necessary documents if data retrieval via integration is not possible.
- Paying the applicable fees.
- Tracking the application through available channels.
- Receiving the final output within a maximum of 48 hours from submission.
The documents required are passport, personal photo, additional documents (if applicable) and depending on the reason for the residency permit issuance, other documents such as proof of relationship for family sponsorship.
Abu Dhabi's Sovereign Wealth Fund Has Allocated $436 Million To Invest In BlackRock's Bitcoin Exchange-Traded Fund.
Mubadala's investment now ranks it as the seventh-largest known stakeholder in BlackRock's IBIT.
Abu Dhabi's Mubadala Sovereign Wealth Fund has made a significant move into the Bitcoin arena by investing $436 million in spot Bitcoin exchange-traded funds (ETFs) listed in the United States.
In a filing disclosed to the SEC on February 14, the national fund's acquisition underscores its increasing enthusiasm for digital investments.
According to Mubadala's recent report, the company has invested in BlackRock's iShares Bitcoin ETF (IBIT), acquiring more than 8.2 million shares during the last quarter of 2024. This represents a new venture for the fund, as previous filings did not indicate any IBIT holdings.
In light of this purchase, Bloomberg ETF expert James Seyffart pointed out that Mubadala now stands as the seventh-largest known investor in IBIT. The fund has joined a prestigious group of institutional investors, following behind notable entities such as Goldman Sachs, Millennium Management, and Symmetry Investments.
Binance's founder, Changpeng Zhao, highlighted that Mubadala is just one of several sovereign wealth funds in Abu Dhabi. He mentioned that other government-backed investment bodies might also be involved with Bitcoin ETFs.
Analysts in the market have also noted that Mubadala’s move is consistent with the UAE’s broader strategy to become a leading center for blockchain and digital asset innovation. Over time, Abu Dhabi has established itself as a favorable location for companies seeking supportive investment environments. This has led to the creation of forward-thinking regulations that have drawn in major industry players looking for a jurisdiction that is friendly to cryptocurrency.
The Global Bitcoin Adoption Competition
Mubadala's investment highlights an increasing trend of international organizations seeking to gain exposure to Bitcoin. This development comes as decision-makers evaluate the possibility of incorporating a strategic cryptocurrency reserve. In the United States, some officials have proposed that Bitcoin could be included in this strategy. US Senator Cynthia Lummis emphasized the importance of Mubadala's move, indicating that a worldwide competition for Bitcoin acquisition is underway.
A legislator has put forward the Bitcoin Act of 2024, which suggests establishing a US Bitcoin reserve. The initiative involves liquidating a fraction of the government's gold assets to finance the acquisition. If this plan is implemented, it would secure 1 million Bitcoins, representing approximately 5% of the total available supply.
Although the federal government's position remains ambiguous, numerous states across the US have independently moved to incorporate Bitcoin into their financial frameworks. More than 20 states have either proposed or passed laws to support investments in cryptocurrencies.
Prominent figures in the industry interpret these advancements as indicative of a worldwide competition to embrace Bitcoin. Dennis Porter, CEO of Satoshi Act Fund, highlighted that U.S. states are at the forefront of this transformation. In light of this, experts anticipate that the nation will become a leading advocate for Bitcoin.
Stay informed with the most current events and developments from the United Arab Emirates, a nation that continues to assert itself as a vibrant center of global activity. Known for its cosmopolitan city, Dubai, the UAE frequently captures international attention with its groundbreaking initiatives and significant occurrences. Dubai, a city synonymous with architectural marvels and cutting-edge technology, is consistently pioneering innovative projects that shape global trends. From the tallest skyscrapers to massive artificial islands, Dubai is a testament to human ingenuity.
Moreover, the UAE's influence extends far beyond architecture. It is making impressive progress in the field of renewable energy, particularly in Abu Dhabi, which is leading the charge with substantial investments in solar power and sustainable energy solutions. These initiatives are part of the UAE's broader commitment to reducing its carbon footprint and promoting environmental sustainability.
Economically, the UAE stands as a major player on the world stage, with sectors such as finance and trade experiencing robust growth. The country's strategic location as a gateway between Europe, Asia, and Africa facilitates its role as a global trading hub, attracting a myriad of multinational corporations and investors. This economic dynamism is further fueled by its thriving tourism industry, which draws millions of visitors each year. Tourists are attracted not only by the UAE's luxurious lifestyle offerings but also by its rich cultural heritage and world-class entertainment options.
The UAE's continuous advancements and diverse contributions make it a focal point of progress and innovation. To keep up with these evolving narratives and more, comprehensive coverage is available at the provided link. Stay connected to witness how the UAE shapes the future with its relentless pursuit of excellence and development.
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