Are you looking to establish a business in Dubai? If so, you may be wondering what restrictions there are on obtaining residency. The good news is that there are several options available for foreign citizens to obtain a residence permit in the United Arab Emirates. The investor visa is one of the most popular choices for obtaining residency in Dubai. This visa is valid for up to three years and can be renewed as long as you continue to own capital shares in a company and visit the country at least once a year.
Additionally, buying real estate in Dubai may grant the purchaser a residence permit. According to the UAE investor visa program, the property must be finished at the time of purchase and its value must be at least AED 1 million. Resident visa holders who purchase real estate can also sponsor their dependents. The investor visa is included in the Golden Visa scheme, which gives investors a long-term visa for themselves and their dependents, subject to additional conditions related to the size of the investment and capital.
For those who apply for a residence permit for work reasons, the Dubai company that hires them must also deposit a guarantee that will transform them into sponsors. A residence visa obtained by setting up a company in Dubai is valid for three years and can be renewed. To start a business in the UAE as a non-resident, you must know the rules relating to business names and the rules for license applications. This last option is often the most cost-effective way for non-residents to start a business in the UAE.
This type of residence visa allows a foreign citizen to be a shareholder of a local company and also to hire employees in Dubai. Note that if you have a work visa and you also run a business, there may be restrictions as to what you can do when you run a side business. Foreigners who start a business or invest in an existing company on the mainland of Dubai or in the free zones can apply for a residence visa. Even if this option is available to people with high incomes, it is very common for foreign entrepreneurs to acquire residence in Dubai by investing in real estate. The residence visa obtained when buying property in Dubai is valid for two years and does not grant the right to work in the Emirate. Whatever your business plans and ambitions, and whatever your country of origin, your plans will be adapted and promoted in a free trade zone.
A new requirement for foreign citizens applying for residence permits in Dubai is to have a valid email address. Local authorities will send them an email notifying them about their visas. For the time being, only current residents of the United Arab Emirates can apply for this visa if they meet at least five mandatory requirements established by the Dubai Culture and Arts Authority (Dubai Culture) in coordination with the Dubai Directorate General for Residence and Foreign Affairs (GDRFA). This type of visa is recommended for foreign entrepreneurs who want to invest in the UAE or who want to spend some time setting up their own business. In summary, there are several options available for foreign citizens looking to obtain residency when setting up a business in Dubai. The investor visa is one of the most popular options, but there are also other options such as buying real estate or starting a business on the mainland or in free zones.
It's important to note that there may be restrictions on what you can do when running a side business if you have a work visa. Additionally, all applicants must have a valid email address and meet certain criteria set by local authorities.