UAE: How one investment will open the door to residency in a global hub of prosperity
For most of us, changing our working day has involved acclimatising to new environments, whether it is in a reorganised office space with...
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United Arab Emirates
Overview
The UAE is a leading country in the Persian Gulf and offers modern infrastructure, transportation, and communication systems. This is an outstanding place to do business, with convenient global access. Their Investment Residency program aims to secure long term residency for international investors and entrepreneurs.
Ranked among the top 30 countries in the world in terms of
the facility for doing business. In DubaI the most obvious benefit 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, the process only takes around 1 month,and if successful the lag time between application and moving is extremely minimal, allowing you to get you to the UAE in no time.
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Minimum investment of USD 272,000
Fast processing time (1 month only)
Visa free travel to more than 39 countries
Residents do not have to pay taxes on their income
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Investment options:
In the UAE, there are three strategies you can follow to receive a residency visa. The government has created a step by step approach in which, depending on the quantity of money you contribute, you will get more and more benefits. • Golden visa: Invest $3 million (10 million Emirati dirhams), you will receive a ten years residency permit, also known as a UAE Golden Visa. • Real estate investment: If you want to make a lower investment. This is the right option for you. By purchasing real estate of USD 272,000, you will get a 2 year temporary residence permit. The property must be residential and must be held for at least 3 years. • Business option: The third option would be for you to start a company in the UAE. By doing this you will get a pass for 2 years and then renewed for another 2 years.
Dubai launched the program “Work Remotely from Dubai,” allowing digital nomads to live and work remotely in the fabulous city.
How to apply?
All applicants can apply for the Remote Working Visa in-country or from outside the United Arab Emirates. You can apply online or through accredited typing centers.
Once you fill out the corresponding form and submit all your paperwork, your application will be reviewed. The processing time for a digital nomad visa in Dubai is from thirty days up to sixty days. In addition to this the cost of the Dubai digital nomad visa is $611. This amount includes the application fee of $287 and other processing charges, medical insurance premium, and Emirates ID.
It has been confirmed on the website that each Remote Work Visa only lasts for exactly 12 months. Once it’s expired, digital nomads have to reapply and resubmit all documents from the start, and a new visa will be issued if the applicant still meets the requirements.
Digital Nomad Visa
Steps to follow
Step 1 - Preliminary Check:
Our specialized team will review the documentation submitted to verify that the immigration requirements are met. In addition, we will verify the transparency of investment funds. As a result, we will have a background check report and signed contract.
Step 2 - Choose of Investment:
You must select the investment option that most convinces and suits you, so that later we can start the process. If you decide to obtain residency through real estate investment, we will help you choose your property based on your needs and desires.
Step 3 - Preparation of documents and sending to the corresponding agency:
We take care of everything: we obtain the criminal record certificates, we fill out and complete the government forms, we certify the documents before a notary, we do the translation and apostille everything (this service has a separate cost), and then we send it to the residence. We present your documents independently and with strict compliance with the requirements, as well as monitoring the progress of the application. As a result, we will confirm the receipt of the documents by the government.
Step 4 - Due Diligence check:
Once the residency agency receives all the documents, the applicant's background check begins. In the event that additional documents are required during verification, we will handle those requests.
Step 5 - Case Investigation:
We look forward to a positive resolution and receive the new documents together with you. If necessary, we can also help you with other operational, commercial and even domestic matters (including the arrangements of additional documents).
Step 6 - Receiving residency:
When the investment and all fees are paid, you receive the certificate of residence. Then, these documents are sent to you, so that after the wait, you can start enjoying them.
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FAQ
Does this residency allow me to obtain citizenship?
Foreigners may apply for UAE citizenship by naturalization after living in the country for 30 years.
For how long will I have the residence?
For the investment fund the residence visas obtained are valid for 10 years. For the real estate option, the visas are valid for five years and can be renewed thereafter.
What documents are required?
• A completed application form with a photograph. • A copy of your passport. • Documents that prove your income is legal. For example an employment contract. • Certificates of no criminal records. • Health insurance policy. • Payment documents confirming the payment of state duties and fees. • Documents confirming the fulfillment of the investment conditions stipulated in the application.
How to prove that children and parents depend on the main applicant?
Applicant’s spouse and unmarried children, one executive director, and one advisor may be added at no additional investment.
Is dual citizenship accepted in the United Arab Emirates?
The UAE allows for dual citizenship, you just need to check with your country of origin.
With what currency must the residency programs be paid?
The programs should be paid in the UAE currency that is Dírham.
How does the United Arab Emirates government view cryptocurrencies?
The Central Bank of UAE has not licensed cryptocurrencies or recognized them as legal tenders. However, there are no prohibitions against crypto assets and they can be traded on crypto exchange platforms.
Can the residence be purchased with an investment in Real Estate?
Yes, this country has really good value from real estate investments.
In what cases can my application be rejected?
Most of the applications are authorized, however there are some reasons why you may have difficulty with this residency. Such us: • Having criminal records. • Lack of documentation. • Do not meet the minimum time in the country.
The main applicant must go to the United Arab Emirates?
The successful applicant has to travel to the UAE to apply for an ID card and undergo a medical check.
