The Visa cost for an investor/ employee in Sharjah based Free Zones range from Approx. 3,500 to 4000 AED. The 100% foreign ownership, no income tax and corporate tax, full profit repatriation, favorable business environment, etc., makes Dubai a perfect choice for business investment and establishing a company.

There are many cheapest residence visa options available across the Free Zones of UAE. There are a few special offers where one residence visa cost is waived off too. Taking the cheapest residence visa in UAE will help investors to keep the overall business setup cost low.

Types of UAE Residence Visa for Expatriates

There are many ways in Dubai to obtain a residence Visa. Following are few resident visa options that ex-pats can avail of themselves in the UAE.

1. Free Zone Business License

The easiest way to get a residence visa in UAE is by starting a small business by obtaining a single visa quota business license from anyone Free Zone in UAE.

The Free Zones in UAE offer virtual business licenses to investors with Flexi-desk, and co-working spaces for conducting their desired business activity through obtaining the business license.

The Free Zones in UAE are a vital part of economic growth. It is a secured business jurisdiction and offers UAE residence for company owners, and employees under a company registered in the respective Free Zone as well as provides all required infrastructure facilities for the business to thrive.

2. Mainland Company License

For investors aiming to venture into the mainland of UAE and actively expand their local business, a mainland company license is the right choice. Start a Limited Liability Company in the mainland of Dubai, take an investor visa, and sponsor employees and thrive the business.

Mainland business has many advantages for investors. With 100% ownership for expatriates, easy bank account opening, lower rental expenses, flexibility to expand, etc., LLC Company formation is one of the investor’s favorite choices.

3. Freelance Permit

For young entrepreneurs who want to start their business for the first time or try out the UAE market before going full-fledged by opening a company, getting a Freelance Permit is an ideal choice. It is a type of self-employment visa as the Freelancer is all on his own when it comes to conducting business activities.

There are few Free Zones in UAE that offer Freelance Permits for various business activities. The Freelance Permit will be issued for a person and it won’t be a company. The Self Employment Visa will be available from the respective Free Zone for the entrepreneur. The Self Employment Visa will be for two years (renewable) sponsored by the respective Free Zone.

Using the Freelance Permit, the person can take up projects for the specified business activity in the permit. They can also apply for a UAE residence visa and sponsor dependents for 2 years which is renewable.

Some Free Zones in the UAE offer affordable Freelance Permits that freelancers can apply easily.

Freelance Permits from SHAMS free zone start at AED 5,740. Similarly, there are other Free Zones such as Ajman Free Zone, Umm Al Quwain Free Zone, etc., that offer Freelance Permits at an affordable free for entrepreneurs.

4. Golden Visa

UAE has announced full-fledged long-term visas for expatriates to continue their tenure and contribute to the economy by being in the UAE.

It is also aimed at retaining the best talent in the UAE and generating more business opportunities and business growth. The Long-term residence Visa is not tied up to an employee as the sponsor and the individual will have a 5 to 10-year visa in UAE that is subject to renewal.

The Golden Visa will enable significant foreign investment from global investors who are aiming to make Dubai their home for the long term and will boost the economic outlook.

The strategic industries of UAE such as tourism, real estate, commercial, etc., will get talented employees, more foreign investment, and achieve business growth through long-term golden visas.

5. Green Visa

To further strengthen the economy, create more job opportunities, and retain global talent in UAE, the Government has introduced the Green Visa. There are a lot of benefits in terms of visa rules such as:

• Staying in UAE without a job for 3 to 6 months
• Self-employed people can sponsor themselves and family without the need of an employer
• Sponsor parents and children up to the age of 25, and more.

The recent amendments in the UAE residence laws are for encouraging the expatriates to stay in the UAE and contribute more to the economy. UAE has launched numerous residence visas and other supportive programs for expatriates to easily live, work, and study in UAE along with the family.

6. Property Investment

The real estate market in UAE is very mature with numerous projects read to occupy in various prime locations of UAE.

UAE has a wide range of properties available ranging from affordable to luxury penthouses. With the long-term residence visa and property visas tied up to the property purchase in UAE, the real estate market in UAE is witnessing a major growth prospect.

As per latest update, any one who have purchased a property worth AED 2 million in Loan, Mortgage, or EMI can now apply for Golden Visa. There is no minimum down payment requirement of AED 1 million, the investor will receive a 10-year visa and be able to sponsor dependents too.

The investor must get an NOC from the Developer or the Bank and submit along with the few documents for processing their Golden Visa. Expert Business Consultants such as AURION will guide you through the process seamlessly.

To know more read: Property Visa in UAE

7. Employment Visa

Getting employed in the UAE will entitle you to a UAE resident visa under the sponsorship of the employer. For a first-time visitor to UAE getting on employment, the pathway is ideal to get UAE market experience and later venture into setting up a company for themselves.

Along with the above-stated residence visa, under the new development plan and promoting ex-pat living in UAE, there are retirement visa, special work permits for teenagers, residence visa extensions for widowers for up to 1 year, employment visas holding up to 6months, and more.

The Job Loss Insurance scheme is a new scheme launched by the UAE Government to support the employees incase of a job loss. It is an insurance scheme where a very nominal premium is paid by the employee monthly to the insurance scheme, and they can avail of the benefits during an instance of job loss.

What is UID Number?

The unified Number (UID) is a 6-digit code that can be found on the entry stamp on the last page of the passport or on the visa sticker. Without a UID Number, one cannot complete the application for Emirates ID.

A UID number is a 9-15 digit unique number that gets assigned to a visitor or tourist or resident. The UID numbers are issued by the General Directory of Residency and Foreign Affairs (GDRFA). UID remains the same even if you change your visa or status from tourist to resident.

It is a permanent unified identity number. UID is located on the visa page right above the file number. Many expats are not aware of the codes and numbers on their residence visa page

How to Check UID Number Online?

UID numbers can be verified online by visiting the GDRFA website. From the home page click on e-Services and click on ‘Find my UID’.

Provide the passport number, nationality, date of birth, and other information required, and click on the submit button. The webpage will provide you with the UID Number.

In case you are unable to obtain the UID Number online, visit the GDRFA main center in Al Jaflilya, Bur Dubai, or Dubai International Airport Terminal 3. They can issue the UID number for you after reviewing the request.

How to Merge UID Numbers?

There could be instances where one applicant will be having multiple UID numbers. It is mostly caused due to system errors but could affect your resident visa processing.

Hence, in such cases, the multiple UIDs must be merged into a single UID Number by raising the request for the merging. It will clear the immigration records and only one UID will be active for the applicant.

Follow the below steps to merge the UID numbers

• Visit the immigration office in UAE – GDRFA – Al Jafliya, Bur Dubai
• Submit the required documents – Passport copy, entry visa copy ( if any)
• Old, expired, or canceled visa page in passport and copies – for reference purposes
• After submitting the documents for review, the authorities at GDRFA will provide you with the updated UID number that you can use for your new residence visa application, Emirates ID, etc.

So in conclusion, UAE is becoming a family-friendly and expat-friendly location with ample facilities and infrastructure to power businesses of any scale and retain global talent within UAE and boost growth prospects.

To know more about UAE Residence visas and the process of applying, talk to our expert business consultants right away!

The post How to Apply for Residence Visa in UAE – Types of UAE Residence Visa Explained appeared first on AURION.

The long term residence visa enables talented individuals to contribute more towards society and thereby support the economic growth in the region.

New Amendments to Golden Visa

Golden Visa is targeted towards the foreign investors and expatriate population living in UAE currently. It enables ex-pats to live, work and study in the country without the need of a national sponsor.

The golden visa eligibility is extended towards managers, CEOs, specialists in science, engineering, health, education, business management, and technology professionals.

The visa application process is simplified for highly skilled and specialized residents, investors, entrepreneurs, scientists, pioneers, leading students, and graduates. These visas are valid for a period of 5 or 10 years and are renewed automatically.

New UAE Residence Visa Reforms

Following are the Residence Reforms added along with Golden Visa amendments in the recent UAE Cabinet decision by the Government.

• Business trip permits extension from 3 to 6 months
• Parents Sponsorship under the visa of direct family members
• One-year residency extension for humanitarian cases
• Extensions of children’s age limit on parent’s residency from 18 to 25 years
• Extension of grace period to exit the country after a job loss or retirement from 30 to 90-180days

Green Visa and Freelance Visa

UAE has also announced a Green Visa that expands the self-residence status to investors, entrepreneurs, highly skilled individuals, top students, and graduates.

Also, there is a freelancer visa for self-employed workers based in UAE and overseas specialized fields such as artificial intelligence, blockchain, and digital currencies, etc.

All the latest residence visa amendments are aimed at retaining the best talents in UAE and inviting new ex-pats to the country. UAE is transforming itself into a competitive business and family destination to invite foreign investors to settle in the region.

UAE through the latest initiatives is creating a sense of stability and security for the residence, strengthen the labor market, facilitate sector growth and skill development of individuals present here in the country.

Long-term Residence Visas in the UAE

The UAE Government launched the Long Term Residence Visa for residents and foreign investors to extend their living in the UAE and contribute actively to the growing economy.

The Long-term Residence Visas will be issued for 5 or 10 years and will be renewed automatically.

Eligibility for a 10-year Visa without a Sponsor

For a 10-year Residence Visa in the UAE, there are the following categories.

1. Investors with Public Investments of at least AED 10 million

The investment can be of any form below:

• A deposit of at least AED 10 million in an investment fund inside the country
• Company Formation in the UAE with a capital of not less than AED 10 million.
• Partnering in an existing or a new company with a share value of not less than AED 10 million

The investor must have a total investment of not less than AED 10 million in the above areas. Also, on condition of having more than 60% of the total investment in sectors other than real estate.

Criteria for the Visa Application Processing

• The amount invested must not be in the form of any loans
• The investment should be retained for at least 3 years.
• There should be financial solvency up to AED 10 million

Visa can be extended to include business partners, provided each partner contributes to AED 10 million. The Long term visa can also cover spouse, children and one executive director and one advisor of the company.

To initiate the process of long-term visa and company formation in the UAE, the investors can apply for a multiple-entry permit for a 6-month tenure.

2. Individuals with Specialized Talents

Specialized talents and researchers in the field of science and knowledge are eligible for long-term visas. Professionals such as doctors, specialists, scientists, inventors, as well as creative individuals in art and culture can apply for the visa.

All the professionals must be having a specialized field of priority in the UAE.

Criteria for Processing the Visa Application

• A scientist must be accredited by Emirates Scientists Council or holders of the Mohammed Bin Rashid Medal for Scientific Excellence.
• Creative individuals must have accreditation by the Ministry of Culture and Knowledge Development
• For inventors, there must be holders of patents approved by the Ministry of Economy and the patent must add value to the UAE’s economy.
• Inventors & Researchers must have their patents or scientific research published in a world-class journal
• Executives must be highly qualified in academics and must be part of an internationally recognized company.

Doctors and specialists must be fulfilling at least 2 of the following conditions

• Ph.D. degree from one of the top 500 universities in the world
• An award or certificates of appreciation in the field of the applicant’s work
• Contribution to major scientific research in their domain
• Published articles or scientific books in renowned publications
• Membership in an organization related to their domain
• 10 years of professional experience in the domain with a Ph.D. degree. The domain must be in the areas of priority to the UAE.

Eligibility for a Golden Visa without requiring a Sponsor

1. Investing in a Property in the UAE – 10 Year Golden Visa

New Update: As per the latest update, for the Golden Visa (10 Year Residence Visa), there is no requirement of AED 1 Million Down payment for the property that is valued at AED 2 Million.

So, investors who have started the process of Property Purchase through Loan, Mortgage, Easy Monthly Installment, are now eligible for Golden Visa. Connect with our expert team to know more.

2. Entrepreneurs Five Year Visa

Entrepreneurs having an existing project with a minimum capital of AED 500,000 or those who have the approval of an accredited business incubator in the country.

The entrepreneur is eligible for a multiple entry visa for 6 months, renewable for another 6 months. They have to do the processing of long-term visas within the tenure. The entrepreneur can sponsor dependents including spouses, children, a partner, and 3 executives.

3. Outstanding Students

Students with a minimum grade of 95 percent in public and private secondary schools. University students within and outside the country having a distinction or a GPA of at least 3.75 upon graduation. The students are eligible to sponsor their families under the visa.

How to Apply for Long Term Residence Visas in the UAE

For the foreign investors, students, and academicians to start the long-term residence visa process, they can visit UAE on a Multiple-Entry Visit Visa valid up to 6 months (extendable to 6 months more).

Multiple Entry Visa – 6 Months for the Investors (New Visa)

Visa Application Steps Overview

• Submission of the application through the system (E-channel)
• Receive the application by the employee
• Checking the request. In case of errors, will be rejected
• Receive the Gold Visa Permit

Documents Required

• Dependent passport and color photo
• Bank letter as proof of Deposit
• 3-year bank deposit of AED 10 Million
• Attested Company Establishment Contract (Share of AED 10 Million proof or 6 Million if there is another real-estate investment of worth AED 6 Million)
• Certified Financial Auditing Company Report (Proof for the investments are not loaned or mortgaged)
• Real estate registration department (Proof that the real estate is not loaned or mortgaged)

For entrepreneurs, students and Special talents the process is similar to the investors, there is no requirement to furnish any investment or bank deposit.

They have to submit identity documents (passport copy, photo) and proof of long-term residency eligibility (employment contract, academic qualification, etc.)  

Long Term Residence Visa is an initiative launched by the Government of UAE to strengthen the economy and drive foreign investment and fresh talent across industry verticals.

The launch of Long Term Residence Visas in the UAE is in line with UAE’s long-term plans of diversification of the economy, technology advancements, entrepreneurship, and build a better tomorrow.

To know more about the Long Term Residence Visa, connect with the experts Business Consultants right away!

Contact: Aurion Business Consultants

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