AE Coin set to transform UAE's financial landscape with Dirham-backed stablecoin
What is AE Coin?
Significance of AE Coin
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The United Arab Emirates (UAE) is poised to revolutionize its financial landscape with the imminent launch of AE Coin , the nation's first fully regulated, dirham-backed stablecoin . This initiative aligns with the UAE 's broader digital transformation strategy, aiming to enhance financial inclusion , streamline transactions, and position the country as a leader in the digital economy.AE Coin is a stablecoin pegged 1:1 to the UAE Dirham (AED), ensuring price stability and reducing the volatility commonly associated with cryptocurrencies. Fully backed by reserves held within the UAE, AE Coin operates under the Central Bank of the UAE's (CBUAE) Payment Token Services Regulation , which mandates stringent reserve, security, and transparency requirements.Enhancing financial inclusion: AE Coin aims to provide a secure and efficient digital payment solution, particularly benefiting the UAE's substantial expatriate community by facilitating low-cost, instantaneous remittances.Boosting the digital economy: By integrating blockchain technology into its financial infrastructure, the UAE seeks to attract global investment and talent, fostering innovation across various sectors, including finance, trade, and commerce.Regulatory leadership: The UAE's proactive approach in establishing a clear regulatory framework for digital assets positions it as a forward-thinking nation committed to embracing technological advancements while ensuring financial stability and consumer protection.Also Read: Is the memecoin mania affecting the credibility and future of crypto? The development and issuance of AE Coin involves a collaboration between prominent UAE entities, including the Abu Dhabi sovereign wealth fund ADQ, International Holding Company (IHC), and First Abu Dhabi Bank (FAB). This partnership underscores the nation's commitment to fostering a robust and innovative digital financial ecosystem.As AE Coin prepares for its official launch, it symbolizes a significant step towards the UAE's vision of a diversified, digitally-driven economy. By embracing blockchain technology and introducing a regulated stablecoin, the UAE is setting a precedent for other nations aiming to modernize their financial systems and promote inclusive economic growth.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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Europe's Golden Visas offer access to the Schengen Zone, allowing travel across 27 countries, while the UAE's program offers residency in a fast-growing, tax-friendly global hub. Let's start with the UAE's Golden Visa and then dive into a detailed face-off against Europe's top programs: Portugal, Greece, Hungary, Italy, Malta, and Cyprus. UAE Golden Visa breakdown Investment Requirements: 10-year visa: purchase property worth at least AED 2 million (~$545,000). Partial financing allowed with a minimum 20% down payment. 2-year visa: property purchase of AED 750,000 (approximately $204,000). For joint ownership with spouse, minimum AED 1 million (approximately $272,000). Mortgage buyers must pay 50% upfront for the 2-year visa. Residency Terms & Flexibility: Valid for 10 years, renewable indefinitely. No minimum stay required—residents can live abroad indefinitely without losing status. Freedom to live, work, and study across all seven emirates. Family members included: spouse, unmarried sons under 25, and unmarried daughters of any age. Taxation: No personal income tax, no inheritance tax, no capital gains tax, no property tax. Corporate tax of 9% applies only on profits over AED 375,000 (~$102,000). No global income taxation. Lifestyle & Infrastructure: Safe cities with world-class infrastructure. Direct flights to major hubs worldwide. Diverse expatriate community, with strong cultural and business ties to India and beyond. Popularity & Growth: Launched in 2019. In 2023, 158,000 Golden Visas issued by Dubai's GDRFA, up from 79,617 in 2022 and 47,150 in 2021—indicating rapid growth. Portugal Golden Visa Investment Options (minimum amounts): €250,000 (~$278,000) for arts and cultural heritage restoration. €500,000 (~$555,000) for investment fund units (most popular). €500,000 (~$555,000) for research activities. €500,000 (~$555,000) for business investment (minimum 5 jobs created). 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Greece Golden Visa Investment Options: €800,000 (~$888,000) minimum real estate in Attica, Thessaloniki, Mykonos, Santorini, or islands with >3,100 residents. €400,000 (~$444,000) minimum in other regions. €250,000 (~$278,000) minimum for renovation projects. Other options: shares, bonds, deposits (from €350,000 to €800,000). Residency & Citizenship: Permanent residency with no stay requirement. Citizenship after 7 years with 183+ days/year residency. Family Benefits: Spouse, children under 24, and parents included. Taxation: Special flat tax regime for foreign tax residents: €100,000 ($111,000) per year global income tax flat rate; family members pay €20,000 ($22,000) each. Popularity: Nearly 50,000 permits issued since 2014. UAE vs Greece: Verdict Factor UAE Golden Visa Greece Golden Visa Winner Investment Cost ~$545,000 From ~$278,000 to $888,000 depending on location UAE (lower minimum, but variable) Residency Stay None required None required Tie Citizenship Timeline No direct citizenship path 7 years, with stay requirement Greece Taxation No personal income tax Flat tax option for foreigners UAE (simpler) Family Inclusion Spouse + children Spouse + children + parents Greece Processing Speed ~1 month Varies, generally longer UAE Lifestyle Tax-free, global hub Access to EU & Schengen Depends on preference Overall Winner: UAE for tax simplicity and speed; Greece for cheaper investment options and EU benefits, but requires longer stay for citizenship. Hungary Golden Visa (launched 2024) Investment Options: €250,000 (~$278,000) purchase of real estate fund units. €1,000,000 (~$1.11 million) donation to higher education institution. Residency & Citizenship: 10-year validity with no renewal needed. 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Italy Golden Visa Investment Options: €250,000 (~$278,000) innovative startup. €500,000 (~$555,000) business investment. €1,000,000 (~$1.11 million) philanthropic donation. €2,000,000 (~$2.22 million) government bonds. Residency & Citizenship: No minimum stay required for residency. Citizenship after 10 years with 183+ days/year residency. Family Benefits: Spouses, unmarried children of any age, and parents. Taxation: Special flat tax of €200,000 (~$222,000) per year on foreign income for up to 15 years. 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