Residency in UAE: Golden Visa to live in Dubai as an investor or entrepreneur.
Benefits of living in Dubai (UAE)
Individuals who choose to reside in Dubai will be able to enjoy a great climate and a unique and cosmopolitan lifestyle. Also, Dubai is the most popular emirate when it comes to residing in the UAE.
More than half the year, Dubai enjoys temperatures of around 25 ° C during the day, with high temperatures in summer.
There are certain key advantages that make Dubai a good option for relocation. Its residential developments offer potential buyers a large number of options to choose between the quietest and the most cosmopolitan. With its developments on the artificial island off the coast and others that include the tallest building in the world, Dubai is home to unique real estate projects.
Visas and residency permits for the UAE
With the exception of the citizens of Bahrain, Kuwait, Oman, Qatar and Saudi Arabia (which together with the UAE form the Gulf Cooperation Council), all visitors to the UAE need to obtain a visa to enter the country. Citizens of Canada, the European Economic Area, Switzerland, the United States and some other jurisdictions do not need to do visa formalities in advance, as they can obtain a tourist visa for 30 days upon the arrival. This 30 day period can be extended for another 30 days with an additional charge.
Citizens of other jurisdictions should check carefully before traveling to the UAE if they need to obtain a visa in advance, and what type of visa would be best in the circumstances you are in. Those originating from other countries, apart from those mentioned above, cannot obtain a visa upon arrival.
Residency through the acquisition of a property in Dubai
Another way to get a residence visa in Dubai is to buy a property. The way to obtain a residence through this means is to buy a property title without any encumbrance of at least AED 1 million (About 275,000 USD).
A residency visa obtained in this way is valid for 2 years and does not grant the permit to work in the Emirate. However, the main advantage of this option is that the applicants are not required to register a company in Dubai.
Residency through company registration in Dubai
The most popular way to obtain a residence in Dubai is by registering a company in the Emirate or in one of the many free zones operating in the UAE. If opening a business on land involves sponsorship from the local partner, registering a business in the UAE Free Zone provides full ownership of the business. This type of residential visa allows foreign citizens to be shareholders in a local company and also hire employees depending on the size of the office space they rent, which must be within the facilities of the free zone.
The validity of an investor visa obtained by incorporating a business in the UAE is three years and can be renewed upon expiration as long as the business remains in good standing.
Residency through Investor-Entrepreneur (UAE Golden Visa)
As of 2019, it is possible to obtain a residence permit in the UAE, valid for ten years, if an investment of at least AED 10 million (about USD $ 2,750,000) is made in the jurisdiction. The investment or investments must be kept for at least three years. This investment can be made in the following ways:
-Invest in a corporate fund in the UAE
-Establish a company in the UAE with a capital of at least AED 10 million or make an investment in an existing business or partnership, as long as the participation is worth at least AED 10 million.