As global macroeconomic conditions worsen and funding slowdown continues, Indian startups are cutting their spends on an integral part of tech businesses – cloud storage – by renegotiating contracts with service providers like AWS and Google Cloud, multiple startup founders told ET.
Many of these companies have slashed cloud expenses by 20%-30% while some growth stage startups such as ecommerce platforms Meesho and Dealshare have brought down their cloud expenses by 50%, under pressure to control their cash burn, they said.
This has led to the top three cloud service providers – Amazon Web Services (AWS), Google Cloud Platform and Microsoft Azure – waging pricing wars to lure startups onto their platforms in the current downturn.
Over the past months, several startups have been approached by AWS rivals to switch over for lesser pricing, multiple founders who have been in talks with them confirmed.
In some instances, founders are using pricing quotes received from Google Cloud and Microsoft Azure to renegotiate discounted contracts with AWS, their primary cloud service provider, said one of the founders.
What is the Golden Visa?
Launched in 2019, the UAE Golden Visa is a long-term residence visa. It is particularly for categories such as investors, skilled professionals, scientists, and students. The visa allows you to live, work, and study in the UAE for 10 years with no local sponsor required. Moreover, such Golden Visa persons can bring their family members, including spouses, parents, and children. However, this visa is designed to draw in talented people and investors to vibrant cities like Dubai.
In a nutshell, UAE Golden Visa promises a life concrete of several years and a myriad of opportunities within the ever-thriving UAE. Read on to know more about the eligibility and benefits.
"We want talented people and great minds to stay in the UAE and join us in the process of development and achievements"
HH Sheikh Mohammed
Benefits of the Golden Visa
The UAE Golden Visa caters to various benefits. This helps individuals and their families to experience long-term residency and opportunities in the UAE.
1. Residency for Long Term
Residency period of 10 years with an option to renew — providing stability in the long term within the UAE.
2. No Local Sponsor Required
Unlike other visas, the Golden Visa does not require a local sponsor. Hence, the application process is easy.
3. Family Sponsorship
AI-written text: Bring your other family members to live with you in the UAE, including spouses, parents, and children.
4. Business Opportunities
You have one of the fastest-growing business environments open to entrepreneurship and investment.
5. Education and Healthcare
Access to the world’s best education and healthcare services in the UAE.
6. Ease of Travel
Travel in and out of UAE as and when you want or need to; this would help you manage your international business and personal commitments much better.
7. Pathway to Citizenship
While it is not a way that leads straight to citizenship, a Golden Visa could work for you to better such further residence or citizenship openings in the future.
