Rising Demand for Second Residency Among UAE Residents Amid Economic Uncertainty
Why demand for second residency is going up
Image: Gulf News
Amid economic uncertainty and job security concerns, there is a growing trend among UAE residents seeking second residency options abroad, particularly in Canada, Australia, and Germany. This shift prioritizes security and future opportunities for families over traditional financial goals.
- 01Clint Khan, Director of Y-Axis Middle East, highlights that job security and economic uncertainty are driving the demand for second residency.
- 02Canada aims to welcome approximately 380,000 new permanent residents in 2023, while Australia has over 130,000 places for skilled migrants.
- 03Both Canada and Australia have transparent, points-based immigration systems that do not require job offers for applicants.
- 04Germany's Opportunity Card allows qualified non-EU nationals to enter and seek employment without a sponsor.
- 05Khan advises applicants to apply when eligible rather than waiting until they feel ready, as immigration rules may change.
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The demand for second residency options is surging among UAE residents due to concerns over job security and economic uncertainty, as highlighted by Clint Khan, Director of Y-Axis Middle East, during a Gulf News webinar. Professionals and families are now prioritizing security and future opportunities for their children over traditional financial goals. Major destination countries like Canada and Australia are particularly appealing, with Canada planning to accept around 380,000 new permanent residents in 2023 and Australia offering more than 130,000 places for skilled migrants. Both countries feature transparent, points-based immigration systems that do not require job offers prior to application. Additionally, Germany is attracting skilled workers with its innovative Opportunity Card, allowing non-EU nationals to seek employment without a sponsor. Khan emphasized the importance of applying when eligible, as immigration policies can change rapidly.
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The increasing demand for second residency options reflects a shift in priorities for UAE residents, focusing on security and future opportunities.
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