The UAE is one of the most attractive countries for moving to study, work or permanent residence. Relocants are offered many opportunities for education, professional development, and comfortable living. But the main thing is the incredible financial advantages for doing business. To take advantage of these privileges, it is necessary to apply for the right to enter and reside in the Emirates – a visa. Depending on the purpose of the stay, different types of permits are issued. The easiest way to get an investor visa in the UAE.
- It is guaranteed to stay in the Emirates for the entire period for which the visa is open. And after the expiration date, it is easily extended. You can do this repeatedly.
- The holder of a residence permit in the principality gets the right to enjoy all the privileges of a local resident: open a bank account, get a local driver’s license, connect to the Internet and television, and enjoy other benefits that ensure high comfort of local life.
- To open your own business, a corporate account, and conclude various types of business contracts.
- The holder of the residency has the right to become a sponsor of his family and transport it to the UAE for the duration of the visa. Children will be able to go to kindergarten or school, the second spouse will be able to get a job (if he wants to).
- By starting a business, you will not pay corporate taxes, you will be able to hire foreign workers, withdraw your earned funds to your homeland in full.
Types of investor visas
Until recently, residence permits in the United Arab Emirates for investors were issued only for three years. Now, if certain requirements are met, it is possible to obtain the right to stay in the country for a period of five and ten years.
The main condition is to invest at least 750 thousand dirhams in real estate. In other words, if you want to move to Dubai for permanent residence, the easiest way is to buy a house for the specified amount. A three-year investor visa to the UAE will open up all the benefits offered by the government of the Emirates to expats: obtaining an identity card, which in turn will allow you to get a driver’s license, open a bank account, etc. However, there is also a limitation – owners do not have the right to stay outside the principality for more than 180 days a year.
If the housing is mortgaged, the owner still has the right to apply to the relevant authorities with an application for residency. But in this case, you need to present a bank statement.
Buyers of real estate on credit are also eligible to apply for residency. In order for the application to be accepted for consideration, it is necessary that the purchase be paid for 50% and this fee is at least 750 thousand AED. In this case, you will also need an extract from the mortgage bank stating that there are no objections.
The easiest way to apply online is through the DLD Vault website or the Dubai REST app. Payment is made after the application is approved. The whole process takes no more than 5 working days.
5-year Green Visa
To become a Green Visa holder, it is necessary to invest at least 2 million dirhams in real estate or the economy of the state. Previously, the minimum threshold was 5 million AED, but since October 2022 it has decreased by 2.5 times.
You can apply for a Green Visa:
- entrepreneurs who want to open a business in the UAE;
- qualified specialists;
When applying for a freelancer, the applicant will need:
- bachelor’s degree;
- confirmation of income for the previous two years in the amount of at least 360,000 AED;
- work permit from local authorities.
Holders of an investor’s “Green Visa” in Dubai receive additional privileges in the form of an opportunity:
- stay in the territory of the principality for another six months after the expiration (or cancellation) of the permit to stay in the country;
- sponsor sons until the latter reach the age of 25;
- sponsorship of unmarried daughters and incapacitated children without age restrictions.
10-year Golden Visa
The contribution to the Emirati economy for obtaining a Golden Visa is also 2 million AED. These funds can be spent on:
- establishment of a commercial enterprise with authorized capital for the entire amount or more;
- depositing money into an investment fund;
- as a partner contribution to an already operating company with mandatory annual tax payment in the amount of 250,000 AED.
The applicant also has the right to deposit a fixed amount in real estate. It can be bought both for the full price and on credit (but only with the participation of certain banks). At the same time, all acquired assets cannot be sold or transferred to other people for 3 years.
The privileges of Golden Visa holders are even wider. They can:
- be sponsors of your family members, including all children, regardless of the age of the latter;
- sponsor home staff, as well as several business assistants;
- leave the country at any time and stay abroad for any period (there is no limit for 180 days);
- apply for an Esaad card, which allows you to buy goods from more than 7,000 brands with a big discount, not only in the UAE, but in 92 other countries.
In addition, if the owner of the Golden Visa dies, his family members have the right to remain in the principality until the end of the residency.
Pension Investment visa to Dubai
It is suitable for wealthy foreigners who have reached the age of 55. They can apply for residency for a period of 5 years if they meet one of the conditions:
- can confirm a monthly income of at least 20 000 AED;
- purchased real estate worth at least 2 million dirhams (the purchase must be carried out only at the expense of personal funds);
- they have at least one million dirhams of personal savings in their bank account.
The residence permit is renewed every five years, subject to any of the above conditions. The presence of a pensioner’s visa does not prohibit a person from continuing to work, and also allows him to act as a sponsor for spouses and children-schoolchildren or students.
In addition to the minimum amount of money that the applicant must spend on the purchase of real estate, there is a requirement for the latter. It can be the property of freehold or a ready-made object in the form of:
- storage facilities.
But it cannot be a leased, disputed or off-plan facility.
If the investment was made jointly by the spouses, then both of them can receive investor residencies, but they are required to provide a notarized marriage certificate.
What is included in the package of documents
- A photocopy of the passport.
- Passport-size photo.
- A photocopy of a valid residence permit in the UAE;
- The act on the state of property affairs.
- Certificate of lack of criminal record.
- Medical insurance.
- Bank statement for the last six months.
If the documents are submitted by an entrepreneur involved in the business, he will need to provide copies, depending on the type of activity:
- constituent documents;
- trade license;
- partnership agreement;
- agreements with the service center.
- Receiving a letter of recommendation from the Dubai Land Department (DLD). To do this, you should submit an application to the office, attaching photocopies of your passport and current visa (if any), as well as a document of ownership.
- Obtaining a criminal record certificate from the police. It is issued after submitting a letter of recommendation issued by DLD to the institution.
- Obtaining a trade license from the Department of Economics (DED), where you should also apply.
- After obtaining a license, the applicant must submit an application to the Ministry of Residency and Foreign Affairs with a request to open an investor visa.
The cost of registration
The price of a simple investor residency is approximately 15,000 dirhams. The services included in this amount are listed in the table below:
|Name of documents, services
|Cost in dirhams
|Certificate of no criminal record
|ID and medical insurance
The cost of obtaining a pensioner’s visa or a Golden Visa is several times lower and in total does not exceed 3700 dirhams:
|Name of documents, services
|Cost in dirhams
However, if sponsorship is required for family members or the contract needs to be extended, the cost of an investor’s visa in Dubai will increase by an average of 4000-7000 dirhams.