Dubai Visas Made Easy: Requirements for Assets Ownership and Investor Visa
The United Arab Emirates (UAE), particularly Dubai, has emerged as an attractive destination for global businesspeople, investors, and entrepreneurs. Renowned for its vibrant standard of living, robust infrastructure, and status as a global business hub, Dubai offers numerous opportunities for foreign investors. This article provides an overview of the ownership and visa requirements for foreign investors in Dubai. Besides, we will emphasise highlighting the eligibility criteria, documents, and processes involved. By understanding these aspects, investors can successfully navigate the path to securing an investor visa in Dubai.
Types of Visas for Investors:
Dubai offers several avenues for foreign investors to obtain a visa. These include:
- Investor visa by property ownership. Investors who purchase a residential property in Dubai (or other emirates) valued at AED 1 million or more can obtain a renewable residency visa tied to the property.
- Investor visa by company incorporation. Investors can obtain an investor visa by incorporating a Limited Liability Company (LLC) or a sole proprietorship in Dubai mainland or a free zone.
- Partner visa by shareholding: Investors who hold a share within an existing company in Dubai can secure a partner visa.
Eligibility and Requirements for Obtaining an Investor Visa:
To obtain an investor visa in Dubai, investors must meet specific eligibility criteria and fulfil certain requirements. These may include:
- Property ownership. Investors need to own a residential property valued at AED 1 million or above to qualify for a residency visa.
- Company incorporation. Incorporating an LLC or a sole proprietorship in Dubai mainland or a free zone requires meeting the relevant requirements and investment thresholds.
- Existing company investment. Investors must invest a minimum amount, typically ranging from AED 74,000 to 1 million, to be eligible for a partner visa.
Investor visas in Dubai are usually valid for 3, 5, or 10 years and can be easily renewed.
Process of Obtaining an Investor Visa:
The process for obtaining an investor visa in Dubai depends on two factors. Whether investors choose to incorporate a new company or invest in an existing one.
To obtain a visa through new company incorporation, investors need to follow these steps:
- Form the company and gather the necessary documents. This includes the trade license copy, and a copy of a legally attested Memorandum of Association (MoA)- for LLC company structures. A Local Service Agent Agreement (LSA) is needed for a sole proprietorship. You will need also a company establishment card copy, a cancellation document of the existing visa (if any), and a copy of a visit/tourist visa (if any).
- Register the company with the Department of Economic Development (DED) and apply for the company’s establishment card.
- Apply for an entry permit if residing outside the UAE and undergo an in-country status change for a visa.
- Complete the standard medical tests and apply for an Emirates ID.
- Obtain suitable health coverage.
- Finally, you get your passport stamped with the investor visa.
Investing in an Existing Company:
To obtain an investor visa by investing in an existing company, investors must provide proof of their investment to the Dubai Municipality. If the investment meets the criteria (typically as little as AED 74,000), the municipality will notify the DED, which will issue a No Objection Certificate (NOC). Furthermore, the NOC can then be presented to the immigration department to apply for the visa.
The processing time for an investor visa in Dubai typically takes around 20 business days. This is including the time required to register the company and obtain the trade license.
Obtaining an Investor Visa through Buying Property:
Foreign investors who purchase a residential property in Dubai or any other emirate valued at AED 1 million or above can obtain a renewable residency visa tied to the property. This allows investors to enjoy the benefits of living and conducting business in Dubai as long as the property remains standing.
Investor Visa Issuance Costs:
The issuance of an investor visa in Dubai involves certain costs that investors should be aware of. The specific costs depend on the type of investment chosen. The breakdown of the typical costs involves:
- Investment Costs: Investors need to make the required investment, including any charges associated with that investment. The amount will vary depending on the type of investment. Whether it is property ownership, company incorporation, or shareholding in an existing company.
- Entry Permit Costs: When applying for an investor visa, there are entry permit fees to consider. These fees typically range from AED 1,000 to AED 1,100.
- Change of Status. Once the entry permit is granted, a change of status is required to convert it into a residence visa. The cost for this process is approximately AED 670.
- Visa Stamping. Finally, there is a fee for visa stamping, which is required to finalize the issuance of the investor visa. The approximate cost for visa stamping is around AED 900.
Foreign investors need to factor in these costs when planning their investment and visa application process.
Benefits of Dubai Investor Visa:
Obtaining an investor visa in Dubai brings with it a range of benefits for foreign investors. Here are some notable advantages:
- Tax-Free Environment: One of the significant advantages of Dubai’s investor visa is the tax-free environment. Both immigrants with visas and locals are exempt from paying income tax and capital gains tax.
- Double Taxation Agreements: The UAE has signed over 70 double tax treaties with various countries, including the United Kingdom. These agreements aim to prevent double taxation and provide investors with further tax benefits, making Dubai an attractive destination for international business.
- High-Quality Goods and Services. Dubai is renowned for its excellent quality goods and services, making it a desirable location for investors. With an investor visa, individuals have full access to Dubai’s facilities, including top-notch transportation, communications, healthcare, education, and infrastructure.
- Regional Travel Facilitation: Holding an investor visa in Dubai enables foreign investors to enjoy facilitated and speedy travel between GCC (Gulf Cooperation Council) countries. This opens up opportunities for business expansion and networking within the region.
By capitalizing on these benefits, investors can thrive in Dubai’s dynamic business landscape and leverage the city’s numerous advantages for long-term success.
Sponsoring Dependents through the Dubai Investor Visa:
As an investor visa holder, individuals can sponsor their immediate family members, including parents, spouses, and children. The requirements for sponsoring family members through an investor visa include providing a copy of the residential tenancy contract (minimum 2BHK), attested marriage certificate (for the spouse), attested birth certificates (for children), and paying a refundable deposit of AED 1,500 for each dependent sponsored.
Hiring Start Business Advisory for Business Setup Needs:
For seamless assistance with ownership and visa requirements for foreign investors and entrepreneurs in Dubai, consider partnering with Start Business Advisory. Our team of experts can guide you through the entire process, from start to finish. Contact us today to discuss your business setup needs and explore the opportunities available in Dubai.
Dubai’s investor visa program provides a gateway for foreign investors and entrepreneurs to establish themselves in one of the world’s leading business hubs. By understanding the eligibility criteria, requirements, and processes involved, investors can successfully navigate the path to obtaining an investor visa. Additionally, through property ownership or company incorporation, Dubai offers a range of options to suit different investment preferences. By partnering with professionals well-versed in UAE business setups, such as Start Business Advisory, UK investors can ensure a smooth and hassle-free experience in achieving their entrepreneurial ambitions in Dubai.