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. This visa is granted to investors who own shares in an existing company worth at least AED 72,000 or who are setting up a company with a capital investment of the same amount. You don't have to be a full time resident in the United Arab Emirates to own a business here. In fact, living abroad is no obstacle to success in the Emirates.
Most business owners in the United Arab Emirates choose to reside in the United Arab Emirates to take full advantage of the incredible climate, attractive business incentives, and thriving communities. But if full-time residency doesn't fit your lifestyle, you can still reap the rewards of owning a business from afar. If you decide to work for a company or want to be an “employee” of your company, you can apply for a work visa. Please note that many additional steps are required during this request.
An example is the requirement to legalize and attest to several documents in your home country and submit them during the application process. Examples of documents may include certain education certificates. When you apply for a work visa, you are essentially sponsored by the company applying for your visa, so you may be required to ensure that you follow certain rules and restrictions. Any failure to comply with these rules may result in the cancellation of your visa and, therefore, make sure that if you decide to obtain a visa through employment, your employers do not impose restrictions if you decide to run a side business.
Living in the United Arab Emirates (UAE) is an experience like no other. Home to a wide range of nationalities, nightlife rivaling London and New York, and absolutely zero income tax, the Gulf nation has a lot to offer. The easiest way to obtain residency in the United Arab Emirates is by setting up a company in the Emirates and a license to do business in the United Arab Emirates. Conditions for obtaining residence in the United Arab Emirates The most widespread category of license for a legal entity for those who wish to obtain residence in the United Arab Emirates is that of general trade, since only this license is configured to offer residence to business owners in a maximum number of 3 people.
COMMERCIAL — license — for up to 3 types of products CONSULTING — license (services) — up to 2 types of services GENERAL TRADE — license — unlimited number of types of products Who can obtain resident status in the United Arab Emirates?. We'll be in your inbox every morning from Monday to Saturday with the day's top business news, inspirational stories, top tips and exclusive reports from Entrepreneur. It should be noted that not all residency rules apply to foreign citizens moving to a Dubai free zone. Also keep in mind that if you have a work visa and you also run a business, there may be restrictions on what you can do when you run a side business.
In order to travel with their family, the holder of the residence permit in Dubai must first apply for an entry and residence visa on their behalf; this procedure must begin 30 days before their arrival. One of the most important criteria to consider when deciding to apply for a work or residence permit in Dubai is the validity period of the visa. This type of visa is recommended for foreign entrepreneurs who want to invest in the United Arab Emirates or who want to spend some time setting up their own business. Under the new conditions, foreign citizens who apply for a residence permit in Dubai on the basis of an employment contract must also present a certificate of good conduct, which they must obtain in their countries of residence.
A general power of attorney provides extensive powers, including handling financial and commercial transactions, purchasing life insurance, resolving claims, operating business interests, delivering gifts, and employing professional help. In the case of 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. Although with a visit visa it is possible to obtain a temporary SIM card for a mobile phone and even open a bank account for non-residents, in the long term it is more appropriate to apply for a residence visa to do business in Dubai than to operate with a temporary visa. A work permit in Dubai includes a new identification card that can be used instead of those issued in the country of origin.