Dubai: How to gain residence through investment in UAE
It is safe to say that on the whole, all of our lives have changed in the past year. While we are living in new ways and adapting to alternative interpretations of normality, there is a need to look forward, and begin to make new long terms plans, remembering to factor the pandemic into them. For most of us, changing our working day has involved acclimatising to new environments, whether it is in a reorganised office space with Perspex barriers separating colleagues, or learning to work from home using remote software. However, for many, it has stimulated a longing for new scenery, and new opportunities too. The United Arab Emirates (UAE) has opened itself up to people from all over the world with investment opportunities and the reward of residency. Could it be that opportunities such as this are the key to accessing the post-pandemic relocation you desire?
How does it work?
You may be wondering, why does a nation so prosperous feel a need to open itself up like this in order to attract investment? Well, it would seem that in competitive global markets, there is always a need to stay attractive to business owners, and so an offer such as this seems too good to turn down. This specific visa is for living and working in the nation, and it is said to be with the aim of providing sufficient time for the investor to get a business up and running.
There are 2 options, the 5-year and 10-year golden visa and the process is as follows:
1. Deposit 10 or 20 thousand AED (United Arab Emirates dirhams), the equivalent of roughly US$2700 or US$5450 (as of 20/04/2021) to the UAE government.
2. Prove you have sufficient funds to invest in a business or create a business in the UAE.
3. Await approval from senior government officials and necessary authorities.
Another interesting point to mention is that depending on how many millions of AED you wish to invest, the visa you apply for changes. This is to say that if you have 5 to 9 million AED to invest you will apply for the 5-year visa, as the minimum number of millions of AED for the visa corresponds to the length of residency. Therefore, an investment of at least 10 million AED authorises a 10-year residency permit, providing that extra bit of motivation for you to invest larger amounts to reap larger rewards and also making the decision process of which to apply for clearer for you.
Speaking of rewards, the most obvious one is tax. As a nation with no income or capital gain tax, the investment residency visa goes hand in hand with the non-existent taxation as your newly established business should be able to prosper in a climate such as this. Alongside this, it is said that the process only takes around 1 month and if successful the lag time between application and moving is extremely minimal, allowing you to get your business up and running in the UAE in no time.
It would ultimately appear that this is a big opportunity for the right people, and if you feel that is you, then please get in touch with us today. We are experienced in assisting business owners from across the globe, and we would love the opportunity to help you obtain your investors residency in the United Arab Emirates.