The United Arab Emirates has shared that it has plans to grant long-term golden visas for businesses to attract a larger number of wealthy internationals.

It was discussed during the government’s Economic Integration Committee earlier this week.

The plan has been introduced as part of efforts to increase government revenue, ensure business continuity and promote economic growth, according to Gulf News.

The proposed trade licenses follow the introduction of the golden license scheme in Bahrain.

The Bahrain Economic Development Board earlier this month said that the country’s golden licence program attracted a total of $2.4 billion in investments from nine major projects.