The UAE is partnering with startup Deel to speed up the visa process for overseas workers, a new tool in its effort to lure international talent and become a regional technological hub.
Payroll and onboarding business Deel will be able to offer its customers, such as Coinbase Global Inc. and Shopify Inc., speedier visa access through a strategic agreement with the UAE’s Office for AI, Digital Economy and Remote Work Applications, according to Bloomberg.
The UAE government wants to recruit global technology companies to diversify away from oil.
Deel has started onboarding personnel under the deal, and it might potentially encompass tens of thousands.
San Francisco-based Deel was valued at $5.5 billion in October and backed by Coatue and Altimeter Capital. Bouaziz said Deel is working on further acquisitions after making a public deal to buy PayGroup.
Although this is the company’s first partnership with a government, Deel suggested that the arrangement could serve as a template for further collaborations in the future.