The Ministry of Economy quietly updated its NextGen FDI web portal on 19 February, detailing a ‘Phase 1 banking arm’ that brings Emirates NBD and Wio Bank into the government-backed relocation package for high-growth digital companies. The two lenders will open corporate and salary accounts using core licence documents uploaded through the portal, eliminating the weeks-long KYC loop that often delays payroll set-up for new market entrants.
Launched in 2022, NextGen FDI bundles fast-tracked business-licensing, golden visas for founders and subsidised office space. But early participants complained that without bank accounts they could not pay local wages, triggering immigration risks for newly hired staff. By integrating bank onboarding the revised programme tackles that bottleneck head-on.
![NextGen FDI 2.0: UAE Adds Digital Banking Partners to Fast-Track Visas and Accounts for Relocating Tech Firms]()
Visa processing also gets an upgrade: successful applicant companies receive a pre-approved quota of employment permits tied to their digital-export targets, and founders obtain immediate five-year green visas rather than the standard two-year residency. The Ministry says the initiative aligns with the National Strategy for Talent Attraction and the target of hosting 1,000 new digital firms by 2030.
For global mobility leaders the message is that relocating tech teams to the UAE should now involve fewer touchpoints—one application unlocks a commercial licence, visas, real-estate support and fully-functional banking in under four weeks, positioning the Emirates as a formidable competitor to Singapore’s Tech.Pass and Saudi Arabia’s Digital Nomad schemes.
Launched in 2022, NextGen FDI bundles fast-tracked business-licensing, golden visas for founders and subsidised office space. But early participants complained that without bank accounts they could not pay local wages, triggering immigration risks for newly hired staff. By integrating bank onboarding the revised programme tackles that bottleneck head-on.
Visa processing also gets an upgrade: successful applicant companies receive a pre-approved quota of employment permits tied to their digital-export targets, and founders obtain immediate five-year green visas rather than the standard two-year residency. The Ministry says the initiative aligns with the National Strategy for Talent Attraction and the target of hosting 1,000 new digital firms by 2030.
For global mobility leaders the message is that relocating tech teams to the UAE should now involve fewer touchpoints—one application unlocks a commercial licence, visas, real-estate support and fully-functional banking in under four weeks, positioning the Emirates as a formidable competitor to Singapore’s Tech.Pass and Saudi Arabia’s Digital Nomad schemes.
