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 Free zones in UAE offer simplified company formation packages with a wide range of incentives to the investors. The 100% foreign ownership in the 45+ Free Zones are greatly attracting foreign investors to UAE.

What is Attracting Foreign Investment in UAE?

1. Ease of Doing Business

The UAE government’s support to promote business and trade is the most important reason. Obtaining a business license in UAE is seamless and could be as less than 1 hour depending on the license type.

Hence, the UAE offers a quick and reliable company formation ecosystem and platform via the free zones and the Department of Economic Development.

2. Infrastructure and Transport Facility

The Robust business ecosystem and infrastructure in UAE is ideal for successfully starting any business category. There are enormous networking opportunities in the UAE, also the free zones offer various technology infrastructure to support business in the UAE.

3. Banking Support

UAE has some of the world-best international and local banks. They offer a large variety of business bank account and incentives to the investors based on specific requirements. Opening a Corporate bank account in UAE is relatively easier. The Bank supports the business ecosystem in UAE greatly by offering various investment options and benefits for the corporate account holders.

4. Tax Schemes

UAE has a strong network of international tax treaties. The UAE has more than 115 Double Taxation Treaties (DTAs) in place with other countries. It will ensure business and residence are not taxed twice on the exchange of trade or services.

How to Leverage the Low Tax Rates of UAE?

To enjoy the low taxation in the UAE, foreign investors have multiple options for setting up a business in the UAE

• Apply for a residence visa and fly in and out every 6 months
• Conduct generating trading in the local UAE market via a local agent or distributor and expand business in the UAE
• Setup a local LLC Company in the Mainland of Dubai
• Setup a Free zone Company in UAE
• Acquire a sinking company in the UAE and restructure it

The Tax rates in the UAE are very low compared to Europe, the US, and most of the other business hubs of the world. Thus, businesses based in UAE will be enjoying low tax or tax-free status. The only tax for corporates and individuals here is the VAT (5%) on services and goods transacting in the UAE market.

So, company formation is a lucrative investment and a tax saving mechanism for most of the investors from European and other high tax countries.

5. Diversity of Business and Enormous Growth Opportunities

Businesses in the UAE are spread across a wide range of activities. The diversity of business has given rise to emerging opportunities across various industry sectors. To speed up growth in certain specific sectors, the UAE government has introduced many initiatives like long term visas, foreign investments, infrastructure support, etc.

6. Economic Stability

The UAE has a solid economy and the political climate is very sound and stable. UAE is an investment hotbed due to its strategic location, strong financial reserves, healthy international relations, business infrastructure, etc.

7. Variety of Choices for Company Formation

The flexibility to business anywhere in UAE and the enormous choices of free zones, industrial areas, and commercial establishments is making UAE stand out from the world.

8. Availability of Talent and Labour

There is a wide talent pool available in the UAE. The government of UAE has launched a new long term residence visa for a qualified workforce in health, science, technology, etc.

Also, UAE is advancing in terms of the latest technology adoption, sustainable energy, etc. There is a lot of initiative in the line of research, the latest technology, artificial intelligence, smart transportation, etc.

9. Political Stability

UAE has long-term political stability with strong diplomatic policy worldwide. As trade tensions and security issues continue to affect corporate growth elsewhere in the world, the foreign investors are looking at UAE as a prospective place to set up their base.

So, in a nutshell, foreign investors especially from high tax countries such as Germany, Italy, France, UK, etc., find UAE to be a lucrative investment destination to reduce the tax burden.

UAE Freezones – Key Benefits for the Foreign Investors

Foreigners can easily set up business establishments in the Free Zones of UAE. It offers a wide range of investor benefits such as:

• 100% ownership
• 100% profit repatriation,
• Apply for a residence visa,
• Avoid double taxation
• World-class business infrastructure
• Easy business setup
• No personal or corporate tax in the UAE
• No customs duty for imports into Free zones of UAE
• and many more…

To know more about Foreign Investment through Company Formation in the UAE, talk to our Legal and business Experts right away!

Read more about “How Tax Residency in UAE can help Investors from Germany, Italy, the UK, and the Rest of Europe?“

The post Why UAE is a Perfect Choice for Investors from Europe? appeared first on AURION.

Company registration in Dubai starts from choosing the right business activity, preparing relevant documents, applying for the business license, issuance of business licenses, and so on.

Once the business license is issued there is the processing of residence visas and corporate bank account opening for the successful operations of the business in the UAE.

Mainland Business License Types in UAE

The Business License types for Company formation in the Mainland of UAE are the following:

1. Commercial License in the UAE

Commercial License in Dubai is required for businesses involved in trading and supplying of goods like garments, textiles, dry goods & any other consumer supplies.

List of business activities under the Commercial License Category in UAE

• Mobile Phones & Accessories Trading
• Used Furniture Trading
• Trading in building materials
• Oil & gas trading
• Spare parts trading
• Gold & precious metals trading
• Trading in chemicals
• Trading in Automobile
• Safety equipment trading
• Building Cleaning Equipment Trading
• Fire Fighting & Safety Equipment Trading
• Office Furniture Trading
• Telecommunications Equipment Trading
• Computer Software Trading
• Plastic Bags & Containers Trading
• Medical Gas Trading
• Agricultural Pesticides Trading

2. Industrial License in the UAE

The Industrial license in Dubai is awarded for manufacturing or other types of industrial activities. Eg. Fabrics & Textile manufacturing, Mineral Water Bottling, Uniform Manufacturing, Plastic Bottles & Containers Manufacturing

List of business activities under the Industrial License Category in UAE

• Garments Manufacturing License
• Meat Products Manufacturing
• Dairy Products Manufacturing
• Animal & birds Feed Manufacturing
• Pastry & Sweets Manufacturing
• Fabrics & Textiles Embroidering
• Carpets Manufacturing
• Mineral Water Bottling
• Fishing Net Making
• Uniforms Manufacturing
• Plastic Bottles & Containers Manufacturing

3. Professional License in the UAE

Professional License is for individuals or business groups that deliver expertise as a service to the public.

List of business activities under the Professional License Category in UAE

• Computer Consultancy
• Insurance consultancy
• IT Infrastructure Consultancy
• Tax Consultancy
• Marketing Consultancy
• Auditing & Accounting
• Legal Consultancy
• Waste Management & Recycling Consultancy
• Public relations Management
• Project Development Consultant
• Agricultural Consultancy
• Customs Consultant
• Fire Safety Consultancy
• Construction Engineering Consultancy
• Electronic Engineering Consultancy
• Mechanical Engineering Consultancy
• Science & Technology Consultancy
• Safety Consultancy
• Advertising Consultancy

*Note: the list of business activities is mentioned here is not an exhaustive list, there are more than 3000 business activities listed by the Free Zones and DED in UAE. For more details on business activities, reach out to our business consultants.

LLC Company Registration in the UAE

Mainland Company formation in UAE or LLC company formation in UAE will allow you to trade in the local UAE market as well as expand your business activities and office spaces.

Also, you can easily employ more support staff to scale up your mainland business operations in Dubai and the rest of the UAE.

LLC Company in UAE can apply for government projects & contracts and work closely with the Government of UAE. LLC Company in UAE offers investors more flexibility and space for business growth and expansion opportunities.

Requirements for obtaining a Trade License for the LLC Company in UAE

There are certain requirements to full fill by the investors to get the trade license issued by the Department of Economic Department (DED).

LLC Company Formation in UAE – Key Steps

 The following are the steps for setting up an LLC Company in Dubai.

• Segment the business activity into commercial, industrial or professional
• Choose the related business activities that fall under a certain Business License
• Find a local partner for your business. Business consultants will help you in finding a local partner.
• Submit the application form to the Department of Economic Development (DED) for trade name and initial activity approval
• Now you can look out for a physical office location and prepare a tenancy contract.
• Prepare the Memorandum of Association(MOA) with the Local UAE Sponsor.
• Now Submit the application along with the tenancy contract and other required legal documents for the final issuance of the business license from the DED

Documents Required for the Issuance of Trade License from DED

The following documents are required for the issuance of a Trade License from DED.

• Completely filled application form signed by the authorized signatory
• DED letter approving company name
• DED attestation letter approving the setup of the company
• Tenancy Agreement for the physical office
• Shareholder’s details and passport copies.

How to Renew Business License for your LLC Company in UAE?

The following are the steps involved in business license renewal for your LLC Company in Dubai.  The trade license renewal of an LLC Company in Dubai is done through the DED.

• Check your Tenancy Contract
• Get the Licensing Approval
• Submitting the Application
• Get the Transaction Number
• Make Payment to the DED

What are the ways to renew Business License for your LLC Company in UAE?

1. Renew Business License Offline

DED business licenses can be renewed through business consultants, authorized service agents, law firms, and DED branches across UAE.

2. Renew Business License Online

Business licenses can be renewed online via the DED website and Business Consultants via online portals and government e-Services.

3. Renew Business License via Auto-Renewal

DED has set up the auto-renewal process by sending an SMS to 6969. The renewal fees will be automatically generated and a payment voucher will be sent to the registered mobile number.

The payment can be made online or offline through authorized payment channels. The renewed trade license will be sent via SMS and email to the business owner.

Mainland Trade License Renewal

Every company operating in the UAE must have a valid Trade License to continue the business. The trade license has to be renewed every year by paying a renewal fee from the Department of Economic Development (DED) if you are an LLC company in Dubai or other emirates in the UAE.

To know more about LLC Company Formation in the UAE, connect with our expert consultants!

Contact: Aurion Business Consultants

The post Mainland Business License Types in UAE – All You Need to Know appeared first on AURION.

• 100% Foreign Ownership
• Tax-free Business Setup
• No Customs Duty on Imports & Exports
• World-Class Infrastructure,
• Easy Business Setup
• Global Market Access
• And many more…

Expert business consultants will guide you through the complete process of company formation in the UAE Free Zones ensuring a hassle-free company setup at the fastest possible time and lowest cost.

Type of Business License available in the UAE Free Zones

The following are the types of business licenses and allied activities for the investors to choose from based on their nature of business.

Commercial License

For all businesses involved in trading in and outside of UAE, a Commercial License is mandatory.

List of business activities under the Commercial License Category in UAE

• Computer Software Trading
• Plastic Bags & Containers Trading
• Medical Gas Trading
• Agricultural Pesticides Trading
• Acids & Alkaline Trading
• Wooden Products Trading
• Pipes & Fittings Trading
• Food & Beverages Trading
• Audio-Visual, Recording Equipment & Accessories Trading
• Perfumes & Cosmetics Trading
• Paper Products Trading
• And many more

Industrial License

An Industrial License is issued to all companies that are into the manufacturing of equipment, clothes, durable items, etc. For manufacturing or industrial licenses, the company must have a physical office in Dubai.

List of business activities under the Industrial License Category in UAE

• Garments Manufacturing License
• Pastry & Sweets Manufacturing
• Fabrics & Textiles Embroidering
• Carpets Manufacturing
• Mineral Water Bottling
• Fishing Net Making
• Uniforms Manufacturing
• Plastic Bottles & Containers Manufacturing
• And many more

Professional License

Professional Licenses are required by professionals, service providers, artists, etc. Professional License is for those who share their expertise as a service.

List of business activities under the Professional License Category in UAE

• Electronic Engineering Consultancy
• Mechanical Engineering Consultancies
• Science & Technology Consultancy
• Immigration Consultancy
• Corporate Services Provider
• Health Awareness Consultancy
• Marketing Research & Consultancies
• Project Management Consultancy
• Media Consultancy
• Event Management Consultancy
• Travel & tourism
• health & fitness consultancy
• Educational consultancy
• And many more

*Note: the list of business activities is mentioned here is not an exhaustive list, there are more than 3000 business activities listed by the Free Zones and DED in UAE. For more details on business activities, reach out to our business consultants.

For Free Zones, the business license renewal is done through the respective Free Zone Authority.

Business License Renewal in UAE Free Zones

For Free Zone companies, the license renewal is to be processed in the respective free zone through the Freezone portal. The Free Zones of UAE is out of the scope of the DED and is a separate Business Jurisdiction that has specific regulations, licensing procedures, and operations.

Business Consultants who have registered your company or new business consultants can assist you in Trade License Renewal even if you are out of the country or busy with your core business activities. Any delay and non-renewal of a Business License in Dubai attract penalties and could lead to the blacklisting of the company. Also, it will affect the business’s credibility and any future business operations

Hence, appointing a business consultant is the best option to avoid any hassles while renewing and also save on any late fee payments.

How Aurion will help you?

Aurion Business Consultants are the pioneers in the field of Company Formation and allied business services in the UAE. We are registered agents of all major free zones of the UAE.

Our experts are here to answer all your queries about Business Setup, License renewals, residence visa processing, corporate bank account opening, and whatever comes under the scope of company formation in UAE.

We will handhold you throughout the company formation and ensure you set up your business in the most comfortable manner. For any assistance on company setup, feel free to reach out to us right away!

Read more about Mainland Business License Types in UAE.

The post Business License Types in the UAE Free Zones – All You Need to Know appeared first on AURION.