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.

However, the property value must be above AED 2 Million and can be in a mortgage, loan or EMI plan.

With numerous new projects lined up and handing over of completed apartments to the owners, the real estate segment is actively progressing in the region. It is a dynamic industry sector with vibrant choices for the investors to own their dream home in UAE.

How to get a Golden Visa by Purchasing a Property in Dubai?

To be eligible for the 10-Year Golden Visa, the investor must have a property worth AED 2 million or above. It also could be multiple properties in the name of the investor that will add up to the value of AED 2 Million or above.

As per the recent update, there is no requirement for a minimum down payment of AED 1 Million to be eligible for applying for the Golden Visa. Also, the property can be on a mortgage, loan, or EMI plan. The investor must get an NOC from the Bank stating the payments made and the remaining amount.  

So, now the pathway to obtaining a Golden Visa through property purchase is becoming accessible to a wide audience. Those who have a property investment (AED 2 Million and above – the amount financed by loan or EMI) in any of Dubai’s Freehold areas are eligible for a Golden Visa valid for 10 years (renewable).

Furthermore, the investor can sponsor their dependents (wife, son, and daughter –until married), two housemaids, and a driver. Additionally, they can extend their stay in UAE for a longer period and also travel out of UAE for any duration (no six-month return).

Why Choose UAE for Settling with your Family?

There are umpteen reasons why investors choose UAE to settle down with their families. The political stability, improved lifestyle, ease of doing business, business-friendly laws, zero personal & income tax, lowest crime rate, etc.

Property purchase in UAE is a lucrative investment opportunity for investors and professionals around the world. Also, it makes the investor eligible for a UAE Golden visa upon meeting certain investment criteria.

It allows the ex-pats to extend their stay in UAE and enjoy the world-class facilities and business opportunities available here in the region. Furthermore, the property market in UAE offers a wide range of options from affordable to ultra-luxurious homes for all types of buyers.

Wide Range of Property Selection in UAE

The introduction of budget-friendly homes across UAE freehold areas such as Jumeirah Village Circle, International City, etc., are attracting middle-income ex-pats and foreign investors to acquire their dream home at relatively lower rates when compared to global real estate markets.

Then, there is are a lot of luxurious villas and apartment projects in the heart of Dubai such as projects in Business Bay, Dubai Water Canal, Palm Jumeirah, etc., where investors can spend a fortune to own world-class quality homes overlooking the sea and cityscapes.

UAE Residence Visa Tied to Property is a Trend

The UAE Residence Visas tied to the property are right at the center of the property decision-making for a global investor aiming to settle in the UAE. Purchasing a property will help investors to experience the life in UAE and stay for a prolonged period in the region.

Property investment in UAE offers a high-yielding business investment over the years and that is the key reason why investors are aiming for a property purchase in UAE. The 10-year Golden Visa is the key attraction for foreign investors to settle down in Dubai, UAE through property purchases.

Property Visa in UAE – Attracting Foreign Investors

The residence Visa along with the property purchase is a key highlight attracting foreign investors to UAE. Ambitious projects such as the Al Hamra Properties in Ras Al Khaimah are offering 12-year visas tied to property purchases.

The property developer has teamed up with the Ras Al Khaimah Economic Zone (RAKEZ) to offer a simplified process of UAE Residence Visa application. The aim is to attract entrepreneurs, freelancers, consultants, and senior citizens to live and work in UAE.

Property Visa is opening up new possibilities for investors in UAE in terms of living and working or starting a business in the region. Also, the developers in UAE are aiming to tap the white-collar professionals and the abundance of freelancers and employees in the UAE market.

Long Term Golden Visa and Property Purchase in UAE

By introducing long-term 10 year Golden Visas along with property purchase, UAE aims to retain the top talents and enable the ex-pat population to continue their stay in the country.

The Golden Visa for 10 years is for supporting businesses and investors in achieving their long-term goals. They can purchase exquisite properties in prime locations of Dubai, and meet the eligibility criteria for Golden Visa.

The process of applying for the Golden Visa is streamlined and simple with minimal documentation requirements. Expert Business Consultants will coordinate with the Investors and Government Authorities such as the Dubai Land Department to get the processing of Golden Visa efficiently.

10-Year Golden Visa

For an ex-pat investor in UAE, a property purchase worth above AED 2 million is the first step towards realizing the long-term goal of settling in the UAE with family.

For the 10-year Golden Visa, as per a recent update, the minimum requirement of 50% down payment for the AED 2 Million property is eliminated as a criteria to apply. Also, the property purchase of AED 2 million can be either through a loan, mortgage, or Easy Monthly Installments, etc.  

So, now the investor who has started the property purchase process for a Villa, Townhouse, or Apartment in Dubai that is worth AED 2 Million; is eligible for the Golden Visa.

Required Documents for Long-Term Residence Visa in UAE

There are a few documents for processing the Golden Visa for the investor. Following are the paperwork that needs to be in place for the submission to the Dubai Land Department.

• Title Deed for the Property mentioning the Property Value (Must be AED 2 Million and above)
• Bank or Developer NOC letter stating the loan, or monthly installment amount paid up and pending.
• A clear passport copy (Passport valid for more than 6 months) and Previous Emirates ID (If applicable).
• A high-quality applicant digital photo that matches the ICP specifications
• Applicants from the following countries must have their National ID (IRAN – PAKISTAN – IRAQ – LIBYA – AFGHANISTAN).
• Health insurance (from any insurance company in UAE). As per GDRFA regulation, Medical insurance is compulsory for all residence permit applications.

To know more read: UAE Residence visas for Investors

Property Purchase in UAE Paving Way for Long Term Sustainability

So, with the Golden Visa under the Property Purchase pathway, investors in UAE can continue to stay in UAE while owning a home.

Thus, an investor visa through property purchase enables more people to stay in the country for a longer time. Also, In turn, creates a sustainable demand for property in the region.

To know more about Property Purchase in UAE and the Residence Visa process. Talk to our expert Business Consultants right away!

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