DIGEST

Interest in office properties in Limassol is booming as foreign companies are tuning their eyes to the city.

The Active Investor Plus visa is set to replace the existing investment visa categories.

Foreign nationals who work remotely and their families are now invited to apply for the visa to stay in the country for up to two years. The visa is initially issued for one year and can be extended for another 12 months.

On 15 June 2022, the Portuguese government approved the launch of a new visa for foreign nationals seeking employment in the country. The new program allows foreigners a six-month stay in Portugal, which period can be extended for another 60 days. The immigration quota has also been waived.

In April 2022, the UAE visa residency system introduced a new scheme enabling foreign nationals to obtain a Golden visa in exchange for an investment in real estate of a minimum value of AED2 million. The prospect of obtaining long-stay residence status has incentivized many Dubai residents to merge their properties or purchase AED2 million worth of real estate.

Effective 1 July, Turkey imposes quotas on residence permits for foreign nationals.

The Swedish government has introduced new rules for obtaining and renewing work permits. Effective as of 1 June 2022, the rules apply to employers and employees alike.

Global mobility company ECA International has unveiled its annual list of the world's most expensive cities.

The D7 Visa, also known as the Retirement Visa or Passive Income Visa, allows non-EU citizens to obtain temporary residency in Portugal.