UAE is the eye of attraction in the heart of the middle east. UAE is one of the fastest-growing economic countries in the world. Another factor that makes it unique is UAE’s city development, attracting immense tourism and immigrants from other countries. However, UAE doesn’t provide citizenship to everyone who comes into their country.
Although the UAE government grants neutralization to qualified investors and talents, there are specific categories and bars for foreign investors that help them get UAE citizenship.
Like other countries, UAE is running a residency program for foreign investors called the UAE Golden Visa program. It was launched in 2021. The program allows investors and unique talents to stay, work or study in the UAE.
Apart from investors, the UAE Golden Visa program also applies to others, such as scientists, professionals, entrepreneurs, and others.
As a reputed UAE Golden Visa Consultant in India, we have outlined 5 ways for investors to help them in obtaining UAE residency. We are also authorized service provider for one of the UAE emirates, Ras Al-Khaimah government owned and operated RAKEZ free trade zone.
1. Employment visa
This is the easiest method to get residency in Dubai. You will require an offer letter from an already existing and well-established company in UAE to get an employment visa. After assessing your profile, the Ministry of Human Resources and Emiratisation (MoHRE) will issue your work permit to the employer. However, your residence in UAE will be based on contractual employment.
The first and most important thing you will require is for the company to hire you in UAE. Also, your previous work experience should match the job offered to you.
2. Golden visa for 10 years
Investors who wish to invest in public property can apply for this category to get UAE Residency by Investment. This category requires a minimum investment of AED 10 million. Investors can choose to invest in the local investment fund, real estate or start their own business with the given threshold. Apart from this, they can make investments of AED 10 million in an already existing company or business by acquiring shares.
For investing, investors will have to undergo a verification process to prove their source of funds. The UAE regime does not allow Investment through loans or borrowing money from other financial institutions. Also, the Investment held in the country should be committed for at least three years with financial competence of up to AED10 million.
Along with the investor, their family and children can apply for residency.
3. Golden visa for 5 years
The UAE government also runs 5 years extended golden visa program for investors, entrepreneurs, or business personnel. The minimum capital requirement is AED 5 million. Under the Golden visa program for 5 years extension, the Investment of minimum threshold must be held for 3 years in the UAE. Also, the capital should not be generated from financial bits of help like loans or borrowing to get a Dubai business visa by Investment or any other location in the UAE.
4. Startup or business expansion
After observing the great potential of startups and innovative businesses, the UAE regime made amendments to create flexible requirements for entrepreneurs and businesses.
The first major requirement for the startup is it must be registered in the UAE under the SMEs (small-to-medium enterprises) category. Also, the startup should be capable of generating revenue of at least AED 1 million annually.
To run startups in the UAE, entrepreneurs must have approval from the Ministry of Economy.
5. Self-employed
Digitalization has completely changed the world, and working methods have changed with time. People can now earn their bread and butter through self-employment or freelancing. UAE also provides visas to this self-employed workforce, called Freelance Visa Dubai. Furthermore, its government also grants green visas to freelancers and high-skilled workers, a 5-year self-sponsored residence permit.
Conclusion
UAE’s economy and progress are skyrocketing. Also, having a place in the Middle East provides investors access to Asian countries. After the inception of the UAE golden visa program, many Investors from India and other countries started applying for it. The country also runs the UAE business visa investment program to attract Investment from every corner of the world.