The announcement of Job Loss Insurance scheme, the introduction of 9% corporate tax, long-term residence, and a host of residence visa and employee visa changes, etc., are all paving the way to a better future for global talents in the country.

Job Loss Insurance Scheme in UAE – Key Highlights

The Job Loss insurance scheme is aimed to strengthen the labor market’s competitiveness and providing a social umbrella for workers. Also, it focuses on providing a stable working environment for all. UAE workers in the public and private sectors will enjoy unemployment insurance from 2023.

The UAE Cabinet approved the unemployment insurance scheme to provide unemployed individuals with income support for a limited period.

There are certain exemptions in the scheme and those are the investors, domestic workers, workers with temporary contracts, people under the age of 18, and retired persons with a pension who joined a new job.

How the Employer Can Apply for the Job Loss Insurance Scheme in UAE?

As per the source u.ae, the employer can opt for buying the Unemployment/Job Loss insurance scheme for their employees.

Previously for the mainland companies, there was a bank guarantee of AED 3000 submitted to the Ministry of Human Resources and Emiratisation. The Insurance coverage will be about 60% of the basic salary up to a maximum of AED 20,000 for a limited period.

The Job Loss Insurance Scheme in UAE aims to protect the employee from the company’s bankruptcy or failure in providing the entitled employee benefits.

Cost of the Job Loss Insurance Policy

The Job Loss Insurance policy costs AED 60 per year, per employee. Depending on the visa validity, the premium has to be paid to the insurance company.

How to Enroll in the Job Loss Insurance Policy?

The Job Loss Insurance Scheme in UAE Can be enrolled in two ways:

1. For Employees Currently in Service

Employers have the option to either change to a Job Loss insurance system or retain the bank guarantee scheme for their current employees.

Also, the current employees can be moved to a Job Loss Insurance scheme only after renewing their permits.

2. For New Employees

The employer can either submit the bank guarantee on behalf of the employee for a recruit or opt for the unemployment insurance scheme that cost AED 120 for 2 years.

Unemployment/ Job Loss Insurance Policy Coverage and Limits

The Unemployment/ Job Loss Insurance will cover certain benefits entitled to the employee. In case the company files for bankruptcy and fails to settle the employee dues, the new policy will be helpful.

The new scheme will support employees against the denial of the benefits such as:

• Unpaid dues
• End of service benefits
• Vacation Allowance
• Overtime Allowance
• Unpaid wages
• Return Air Ticket
• Work Injury Compensation

Hence, in a nutshell, Job Loss Insurance is a safety net for everyone who works in the country. The final law and regulations for the unemployment insurance scheme will be announced later.

The Involuntary Loss of Employment Scheme (ILOE) – Steps to Apply

The job loss Insurance or the Involuntary Loss of Employment Scheme (ILOE) is formulated to provide an incentive for employees who lost their job due to unforeseen circumstances such as company bankruptcy.

The employees will benefit by receiving up to 60% of their average basic salaries for up to 3 to 6 months. The scheme will be active, provided the premium for one whole year is paid up in full.

There are various ways to apply for the Involuntary Loss of Employment Scheme (ILOE). The applicant can submit their details through the following platforms.

1. The Involuntary Loss of Employment (ILOE) Scheme Website

2. The ILOE smart application

3. Bank ATMs and approved Kiosk Machines

4. Business Centers

5. Money Exchange companies in UAE

6. Telecom Providers – Du, Etisalat

Applying for the Job Loss Scheme is a relatively straightforward process and can be easily done via the ILOE website. There are a few documents to be kept ready by the applicant before they start the process.

For applicants working in the Mainland of UAE, they will have to require the labour card number and Emirates ID. There are a few more details to be provided, such as mobile number, full name, date of birth, etc.

For employees working in Free Zones, they must select the ‘Non-Registered MOHRE’ option and fill in their credentials as per the form fields.

The payment plan must be selected as per the basic salary range, and the mode of payment is to be selected. The frequency of the payment is set as Monthly/Quarterly/half-yearly/ Annually. The applicant can pay the amount using a credit or debit card.

Additional Visas Information for Employees in UAE

The new reforms are aimed at speeding up the hires as well as the quality of the recruits. It will make the local job market more competitive.

Here are five changes that employees in UAE need to know.

1. Longer Grace Period after residence Expiry

Residents can avail of a longer, flexible grace period that allows them to stay in the country for up to 6 months after the cancellation or expiry of their residence permit.

2. 6 months stay outside of UAE for Golden Visa Holders

The Golden Visa holders can stay outside of UAE for any period without affecting their residency. There is no six-month limit to the stay outside of the UAE.

3. Green Visa

5 Year residency is granted to skilled professionals, freelancers, investors, and entrepreneurs. It is a self-sponsored visa and the recipient can enjoy all residency benefits in UAE.

4. New Type of Visit Visas

The scope of new visit visas has been expanded. Some of the visit visas do not need a sponsor now. All entry visas are available as single or multiple entries that can be renewed for a similar period. They are valid for 60 days from the date of issuance.

There are new visit visa categories for finding a job, coming for business opportunities, visiting friends and relatives, studying, etc.

There is a multiple-entry tourist visa without a sponsor that will allow the person to stay in UAE for up to 90 days. it can be extended for a similar period up to 180 days in a year.

5. Family Visa Changes

UAE residents can now sponsor sons until they are 25 and there is no limit for unmarried daughters. Children of determination are granted a residence permit regardless of their age.

To know more about the new Employee Insurance Scheme and Changes to the UAE Residence Visa, talk to our expert Business Consultants right away!

Contact Us: Aurion Business Consultants

The post Job Loss Insurance Scheme in UAE appeared first on AURION.

Also, the processing of Golden Visa, Green Visa, 5-year multiple entry tourist visa will commence from 3 October 2022. UAE is aiming to welcome a large number of tourists, regular visitors, skilled employees, to stay, work, and spend more time in the country with their family and friends.

The UAE Government has launched a series of Entry and Residence schemes expanding the scope of beneficiaries. The nation’s focus is on improving the country’s competitiveness in tourism, economy, and education sector

All of the new visas require no sponsor and offer more flexibility to the visa holders. The new unified system provides enhanced benefits to investors, skilled employees, self-employed individuals, and family members.

Changes in the UAE Residence Visa

There are a series of changes in the residency norms as per the latest update from the UAE Government. They are completely revamping the current residence visa norms. The changes are aimed at attracting foreign talents, creative professionals, scientists, entrepreneurs, etc., to UAE. 

With the latest changes in visa rules, UAE is becoming more welcoming for visitors, tourists, and investors from around the world. Now, expatriates visiting UAE for various purposes can self-sponsor themselves. 

Following are the major changes in UAE Residence Visa norms and the new scheme will be active from September 2022.

1. Green Residence Permit

There is a new plan to attract freelancers, startup investors, and middle-income employees with special talents. The Green Residence Permit enables the visa holder to self-sponsor based on meeting certain criteria.

1.1 5 Year Green Residence Permit for Freelancers 

Green visas are aimed at the middle-income bracket. It targets skilled workers, freelancers, and self-employed. The tenure of the visa would be for 5 years.

Key Highlights:

• There is no employer or sponsor required for applying for the visa
• The permit is obtained from the Ministry of Human Resources and Emiratisation (MOHRE)
• Annual Income from self-employment for the previous two years must not be less than AED 360,000 or the visa holder must provide financial solvency for the stay in the country.

1.2. Green Residence for Skilled Employees

Similar to the Freelancers, the Skilled Employees across various sectors such as engineering, life science, business management, software, IT, etc., are qualified for the Green Residence Visa.

Key Highlights:

• Must fall in the selected category of occupational levels
• Bachelor’s degree or equivalent minimum educational level
• Salary to be not less than AED 15,000

1.3 5-Year Green Residence for investors and partners

Investors and Partners in Startups, Small & Medium Sector Companies are eligible for the 5 Year Green Visa. There are certain criteria to be met in terms of minimum investment required to qualify for applying, business activities, etc.

More details about the plan are yet to be revealed by the UAE government authorities.

2. Visas for Students and Job Seekers

To attract more young talents into the country, UAE is introducing the self-sponsored Job Seekers visa. Also, the Educational Residence Permit enables international students to come and complete their studies from a wide choice of colleges available in the UAE.

3. Educational Residence Permit

A two-year residence permit will be available for students. It will be sponsored by a licensed educational establishment in the UAE. Students can apply for their desired courses from numerous international and domestic universities in the UAE.

They can study, live, and explore UAE during their time in UAE and complete the course and look for a job in the country.

4. Job Exploration Entry Visa

This is a new visa aimed at attracting young talents and skilled professionals to explore job opportunities in UAE. It does not require a sponsor or a host.

It is a great opportunity for new graduates from about 500 top universities in the world to come and explore UAE.

5. Multi-Entry Tourist Visa

The Multi-Entry Tourist Visa enables visitors to enter UAE and stay for up to 90 days in a row. It can be extended for a similar period. In one year the maximum allowable days will be 180 days.

While applying, the proof of fund must amount to USD 4000 or equivalent in any currencies for the last six months. It is a great option for frequent travelers from India, Pakistan, etc., who have to pay for a visa each time they travel.

6. Sponsoring Family 

The New UAE Residence Visa rules have made sponsoring family members way easier for the visa holders. UAE aims at uniting the family members and urges expatriates to the extent of their tenure in the country.

There are numerous benefits for the visa holder sponsoring their family such as:

• Resident can sponsor family members including spouse and children till the age of 25. Unmarried daughters regardless of age.
• Children of determination are granted a residence permit, regardless of age
• Green Residence holders can sponsor first degree relatives

7. Golden Visa

The Golden Visa criteria are revised and extended to accommodate more beneficiaries across various sectors. Now investors, entrepreneurs, scientists, professionals, and outstanding students are all eligible to apply for Golden Visas.

The Golden Residence Scheme simplifies the eligibility criteria so that the 10-year residence is accessible to more audiences.

7.1 Golden Visa for Scientists

Candidates should have a Ph.D. or master’s degree. They also must have substantial research achievements. They must be qualified in the discipline of engineering, technology, life sciences, and natural sciences from leading universities.

7.2 Golden Visa for Skilled Professionals

Highly skilled workers with educational qualifications and professional experience can apply for golden visas. They must have a valid employment contract in UAE and their monthly salary should not be less than AED 30,000.

7.3 Golden Visa for Exceptional Talents

For individuals with exceptional talents will require the recommendation or approval of a Federal or Local Government entity. It could be in sectors such as culture, art, sports, digital technology, innovators, etc.

7.4 Golden Visa for Real Estate Investors

Real estate investors can obtain Golden Residence for purchasing a property worth no less than AED 2 million.

It could be with a loan from a specific local bank. The purchase could be of one or more off-plan properties amounting to AED 2 million.

7.5 Golden Visa for Entrepreneurs

Entrepreneurs or partners in a startup registered in UAE in the category of Small and medium companies are eligible to apply for Golden Visa. They must be generating an annual revenue of not less than AED 1 million.

Similarly, Partners or Investors of enterprises with any new project ideas or projects sold worth AED 7m or above are qualified for Golden Visa.

7.6 Golden Visa for Outstanding Students and Graduates

High-performing students in UAE Secondary schools, UAE universities & best 100 universities worldwide with more than 95% marks (For Higher Secondary) & 3.75 GPA (For Graduates) qualify for the golden visa.

Hence, in a nutshell, there are multiple changes in the Golden Visa and UAE Residence rules. It is favorable for expatriates to visit, settle, live, work, and study in UAE.

To know more about setting up a company and settling in UAE, talk to our expert Business Consultants right away!

Contact Us: Aurion Business Consultants

The post UAE Residence Visa Changes 2022 – Things to Know appeared first on AURION.

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.

With one of the busiest airports in the world and the largest man-made seaport in Dubai, the country is on a fast pace of development. It’s a wise decision for investors to set up a business headquarters in UAE as it is becoming a popular trade hub of the world.

Company Incorporation and Role of Business Consultants in UAE

Business Consultants in UAE assist the investors in the process of company incorporation in the region. There are various options in UAE for setting up a company. The 45 plus Free Zones in UAE offers more than 1000 business activities.

Hence, often the investor is confused when it comes to selecting the right option to establish their business. This is where the role of a Business Consultant becomes vital.

Also, the Business Consultants in UAE will ensure investors the right company registration process. The company in UAE must be set up the right way and comply with all the company laws and regulations.

For entrepreneurs who are new to business setup in UAE will be overwhelmed by the process of applying for clearances, getting approvals, applying for a residence visa, bank account, etc.

In such instances, getting assistance from an expert Business Consultant will help entrepreneurs to easily kick start their business journey.

How Business Consultants help an entrepreneur in Setting up a Company in UAE?

The role of Business Consultants in the process of setting up a company in the UAE is crucial. They help the entrepreneurs in many ways. Here are some of the key areas where consultants will handle it efficiently.

Hiring a business consultant to establish a company in the UAE allows investors to grow and add more value to their organizations. The best part of hiring a business consultant is that they can assist with developing growth-oriented strategies and have a plethora of experience in establishing a company.

In that regard, AURION can help investors establish their company in UAE with expert knowledge and all the crucial information regarding procedures to start a company in the UAE.

1. Result-driven Expert Advice

Starting a business requires a lot of knowledge and experience to make it hassle-free. Furthermore, investors may not have enough information to start it themselves. Sometimes, they may even miss out on certain facts and then have issues with establishing their company.

That’s where the role of business consultants comes in. They help investors effectively establish the business since they have a solid perspective of the local market and the competitors.

Furthermore, they can also guide investors through the benefits and risks of the business they are trying to establish.

2. Efficient Handling of Legal Matters

As the UAE legal system is the backbone for starting a business in the UAE, it’s crucial to comply with all the legal procedures. Whether investors want to opt for mainland, offshore, or free zones for opening a company, each has its regulatory authority.

Hiring a business consultant means they will also inform and guide about the laws applicable to companies, establishments, and employees in UAE.

Furthermore, they will educate about all the legal requirements and formalities, allowing them to carry out the business setup process smoothly. Not only that, but they can also help with the risks and options available while setting up a business.

3. Better Understanding of Business Jurisdictions

The UAE has different business jurisdictions with different rules, regulations, and laws. Investors need to comply with all these, which require professional assistance.

Furthermore, if these rules aren’t taken care of correctly, there may be certain penalties. A business consultant helps investors understand the legal structure and provide valuable advice.

1. Company Formation Application

Submitting the application form with the supporting documents is the first step in company formation.

The Business Consultants will provide accurate information on the latest business setup packages of various Free Trade Zones in UAE and the mainland packages to the investor. 

Depending on the business requirements and preferences of the investor, the business consultants will proceed with the right choice.

2. Choosing the Business Type

Based on the number of shareholders, nature of business, the business type must be chosen. In Free Zone, there are two major business types FZE (Single Owner Company) and FZC (Two or more Shareholders).

Few Free Zones in UAE have Free Zone -LLC (Limited Liability Company) business type and Dual Licenses. Expert Business Consultants will provide ample information about the various business license types with the investors and proceeds with their selection accordingly.

Also, depending on the nature of the business activity the type of business license must be chosen. Businesses in UAE are categorized into commercial (Trading, General Trading), industrial (manufacturing), services, eCommerce, etc.

3. Choosing the Office Type

Choosing the office space is an important step in the company formation process. The Business Consultants will ensure the perfect office space depending on your business requirements.

The Free Zones in UAE offer customized office spaces on their premises. Free Zone Companies will have to choose an office within the Free Zone. To move to the mainland, the company must be having a registered branch office.

Free Zones in UAE have various office types ranging from Flexi-Desks and shared Office Spaces to executive Offices with fully customized interiors (25 sq.m, 50 sq.m). Also, there are warehouses and light manufacturing units that are ideal for small-scale manufacturing industries.

4. Obtaining Clearance and Approvals

Based on the business activity chosen by the investor, there is a requirement for special approvals from the Government Departments, municipalities, and other Government Authorities.

For example, aviation companies to start their business operations, require the approval from Civil Aviation Authority in UAE. Similarly, all construction Contacts in Dubai must be approved by the Municipality of Dubai. Business Consultants will help investors in obtaining the clearances on time to ensure smooth business operations.

5. Obtaining the Business License

The business license is obtained from the respective Free Zones upon submitting the required documents of the shareholders, the approvals, and the fee.

The Business Consultants will handle the whole process of company formation in UAE across various Free Zones and the mainland. The investors can focus on their core business strategy while the administrative work will be taken up by the Business Consultants.

6. Assessment of Costs for Business Setup

Investors can incur high costs while establishing a company in the UAE if it’s not directed properly. The cost can include business setup assistance, visa attainment, liquidity & sponsorship services, or business support.

In addition, the business jurisdictions in the UAE have their legal processes, laws, documentation, office space structure, etc. All these have different types of costs. Depending on all these, only the registration can cost you around 9000-15,000 AED.

However, one may not be aware of all the costs that may come up at each stage. In the end, investors may have to expend more than they calculated just because they were unaware of a certain type of cost. Business consultants ensure that it doesn’t happen. They can help investors with an exact assessment of the business setup costs.

7. Compliance Process for Business Operation

The business compliance in UAE is tighter with the newly amended Economic Substance Regulation and Ultimate Beneficiary Ownership Declaration, Anti Money Laundering declaration, VAT Registration, etc.

Hence, all new and existing businesses registered and operating in UAE must file for all of the above compliances. This is where Business Consultants will be helpful.

They will assist and coordinate the filing process and maintaining the deadlines and taking action at the right time. UAE Government has strict regulations and fines for the defaulters, hence companies must be well aware of the compliances and the after-effects of violations.

8. Business Support Services

Business Consultants provides a host of Business Support Services such as Resident Visa Processing, Bank Account Opening Assistance, customs registration, document attestation, document delivery, driving license, and more. Clients can use the services on the go depending on the requirements.

9. Company Closing

Company Closing procedures are very structured and a mandatory process in UAE. Investors must follow the company closing procedures and settle all dues of the company.

For the investor to return to UAE on a later day or start a new business here, the termination of the existing company the right way is essential. Business Consultants will help in closing the company the right way by following all the procedures and getting all the required clearances.

Hence, in a nutshell, Business Consultants form an integral part of the business setup ecosystem in the UAE. Business Consultants, Free Zones of UAE, and other Government entities all make up the business setup ecosystem in the region.

To know more about the Company Formation Process in UAE, talk to our expert business consultants right away!

Contact Us: Aurion Business Consultants

The post Why Choose a Business Consultant in UAE for Company Setup? 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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The ease of doing business in UAE, the robust business ecosystem, improved lifestyle, secured corporate banking network, lowest crime rates, etc., make UAE the perfect destination for establishing a company.

Why is Investor Visa a Popular Visa Category in UAE?

For business owners, there is a separate visa category known as the Investor or partner visa. Business Owners can register their companies in the mainland, or Free Zones and can apply for the investor visa.

Investor Visa in UAE allows an individual to manage a company of their own and sponsor employees and family members under the newly incorporated company.

Based on the location where the company is established the entrepreneur can apply for the UAE Investor visa.

How to Get a Dubai Investor Visa?

In Dubai, the entrepreneur can obtain an investor visa in two ways –

1. Registering a Mainland Company
2. Incorporating a Free Zone Company

There is one more popular way of obtaining an investor visa in Dubai and that through property purchase of a residential apartment, or a villa worth value (current sale price) above AED 1 Million for a 3-year visa, and AED 5 Million or above for a 5-year visa.

Also, there is a 10-Year investors visa where the applicant must invest about 40% of the total investment value (AED 10 million) in real estate in UAE and the rest in any business establishments or funds in the region.

Documents Required for Obtaining an Investor Visa in Dubai Mainland

• Passport copy
• Photograph with white background
• Memorandum of association for the company
• Copy of the Local Sponsor Agreement with UAE Nationality
• Immigration Establishment Card
• Trade License
• Office Space Lease Agreement
• Bank Statement for last 3 months

How to Apply for Dubai Investor Visa?

In Dubai Mainland, the Investor Visa can be applied in Amer Centres across the city.

After registering the company and obtaining the trade license, the entry permit for the entrepreneur must be applied if he/she is not in UAE currently (if in UAE, apply for the changing status by paying the in-country status change fees).

Steps in Applying Dubai Investor Visa

Once the confirmation of change status is received, the investor visa will be stamped on the entrepreneur’s passport. The required visa stamping fee must be paid to obtain the Investor Visa in Dubai.

The required documents must be submitted to the Amer Center for processing of the investor visa.

There will Extra charge for the medical testing and Emirates ID. The immigration Establishment Card would be required for applying for the investor visa.

Dubai Investor Visa for Free Zone company

The Free Zones in Dubai plays a vital role in attracting significant foreign investment through facilitating company formation.

It also provides the required infrastructure and support functionality to entrepreneurs wishing to invest and settle in UAE.

There is a steady growth in economic activities that are centered around the Free Zones of UAE.

Free Zones in UAE – Major Highlights

The major highlight of a Free Zone company formation is the 100% foreign ownership, ease of business setup, and the tax savings from VAT while being in a VAT Exempted Free Zone.

Free Zones are the favorite choice of foreign entrepreneurs for company incorporation due to the umpteen business benefits and the ease of setting up a company.

Also, obtaining an investor visa is hassle-free with the Free Zone.

How to Obtain Investor Visa for Free Zone Company?

For Obtaining the investor visa for a Free Zone Company, the following documents are submitted to the respective Free Zone Authority.

• Investor passport copy & photograph (white background)
• Establishment Card for the Company
• Company Trade License
• Memorandum of Association
• Tenancy Contract for the Office
• Bank Statement for 3-6 months

It usually takes 5 to 7 working days to complete the whole process of processing the investor visa.

Starting from applying for the visa to the final stamping of the investor visa on the passport the process is streamlined by the immigration authorities in UAE.

Depending on the Free Zones, the time taken to process the investor visa varies as the schedule of processing the visas differs across the Free Zones.

10-Year and 5-Year Investor Visa (Golden Visa)

UAE Government has launched a long-term Golden Visa to boost the economy and provide a platform for long-term investments in the region.

The long-term investor visa enables entrepreneurs to extend their tenure and expand their business investments in UAE.

There is a set of criteria specified by the UAE Government for the investors to be eligible for the investor visa.

To know more about it, read the criteria for Golden Visa in UAE here.

Other Residence Visas Launched in UAE

To make UAE a global tourist, family-friendly, and business-centric country, UAE Government has a list of specific UAE Residence Visas for individuals from different walks of life.

There a student visa for students studying in UAE colleges with the eligibility to sponsor their parents by meeting specific criteria.

Similarly, there is a retirement visa for ex-pats aged above 55 years subjected to few criteria such as having a financial saving of more than AED 1 million, property investment of value more than AED 2 million, etc.

To know more about various UAE residence Visa and steps in obtaining an investor Visa in UAE, connect with our expert team right away!

Contact Us: Aurion Business Consultants

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For setting up a Special Purpose Vehicle in ADGM Free Zone the investor must have a connection with UAE and able to provide documentary evidence of the same.

ADGM Special Purpose Vehicles – Key Highlights

The entities in the UAE must be owned or controlled by a UAE or GCC-based private company, family, family office, or individual.

The entities must be located in UAE or the GCC region and must be involved in transactions connected to trade, services, any activity with a real economic benefit to UAE.

The Registration Authority (RA) in ADGM is an independent body with the power to license and register all ADGM entities.

Establishing a Special Purpose Vehicle (SPV) Company in ADGM

Establishing a Special Purpose Vehicle (SPV) and all non-operational entities are easy and quick with a simplified process in ADGM.

ADGM’s SPV focuses on a broad range of categories across business types, industry sector. Corporates, sovereign wealth funds government-related entities, single-family offices, trustees, and individual investors can apply for an SPV.

SPV can be established as a subsidiary, project, or joint ventures. It acts as a separate legal entity and claims by SPV’s creditor are not attached to the shareholders or sister companies under the SPV.

The advantage with SPV is only the assets associated with the project are exposed to liabilities thereby safeguarding shareholders and organizations by mitigating risks with creditors.

Advantages of Registering for an SPV from ADGM

• The fully digital Registration process with easy-to-use portal access for document submission and fee payment
• Cost-effective business setup package – ADGM offers a transparent and affordable company formation package with a choice of a wide range of business activities for the investors
• No physical office requirement, the agent/corporate service provider is authorized to manage the SPV and provide the registered office address
• Common-Law jurisdiction & independent ADGM Courts
• Best-in-class independent regulatory framework
• Access to broad UAE Double Tax Treaty Network
• Variety of legal structures available

Typical Uses for SPVs

1. Securitization

An SPV can be used to securitize loans (or other receivables) by purchasing these assets by issuing debt. which is secured on these underlying assets.

It ensures that the holders of these asset-backed securities will receive priority in receiving the payment on the debt and limited recourse to the originator of the assets.

2. Real Estate Investment

SPV can be used to acquire real estate and limit the recourse of mortgage lenders depending on the location of the asset.

In some countries, the sale of an SPVs share can result in low taxes and transaction fees that transferring the asset as a whole.

3. Financing

It can be used to safeguard investments, permitting financing without increasing debt levels for the parent company, or exposing the parent’s assets to cross-liabilities.

4. Asset Transfer

It is used to transfer assets along with material agreements that may permit the transfer of parts of the ownership of the enterprise. It helps in maintaining the value of the assets for the long term.

5. Risk Sharing

It can be used for Project Companies to form Joint Ventures. The management responsibility will be shared by the companies while legally isolating the joint venture partners from the risks associated with the venture.

6. Raising Capital

An SPV can be used to raise capital at favorable rates in certain situations, with creditworthiness determined by the available collateral of the SPV and not the credit rating of the parent company

7. Intellectual Property

An SPV can be used to separate a valuable IP into a standalone SPV that has minimal liabilities and can be used to raise funds and enter into license agreements with third-party. It can also assist in managing products with a variety of IP components.

Steps to Apply for ADGM SPV Business License

The ADGM SPV company registration is through a fully digital platform governed by the ADGM Free Zone. Companies and individuals can take the assistance of expert business consultants to assist with the setup.

Also, as you proceed with a registered agent there is no requirement of leasing a physical office in ADGM. The registered office address of the registered agent will be your SPV License address.

Simplified Process for Setting Up an SPV Company in ADGM

ADGM has a simplified documentation process with minimum paperwork.

The application completion, document submission, fee payment, all are executed through the online portal simplifying the company registration process.

The notification of the progress will be emailed to the registered email address.

Once the assessment of documents is done, and fee payment is updated, the license for the SPV company (soft copy) will be issued via the link in the email.

The request for setting up an appointment to collect all the original documentation submitted as well as the business license.

SPV Application Documentation Requirements

• Articles of Association
• Registered Office Address
• Copy of Resolution of Board of Directors or Shareholders
• Copy of Passport Information and Signature page
• Copy of UAE Visa Page
• Copy of Emirates ID
• Certificate of Incorporation/ Registration

Interested in Company Formation at ADGM and how to set up a Company as an SPV, get in touch with our expert Business Consultants right away!

Contact Us: Aurion Business Consultants

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Why is the UAE the Right Choice for Setting Up a Logistics Company?

The strategic location of UAE coupled with Government support and initiatives towards promoting trade locally and internationally has transformed the region into a trade hub of the world.

UAE is an international transit hub and an intermediary stop point for international trade across the world. It has a robust logistics support system, warehouse facilities, a dedicated zone for handling large cargos, and many more.

How to Start a Logistics Company in UAE?

UAE is home to a bunch of international trading companies as well as numerous local entrepreneurs in the field of Logistics and trade operations. As a new business venture in the trade and logistics segment, the company must be bringing in innovation or an advanced business model to strive through the intense competition in the segment.

However, despite the competition, there is a vast opportunity in the field of logistics and distribution. Often large companies in the logistics segment only work with higher quantity and premium service fee, low cost providers might lack in customer service and technology-driven strategic implementations.

Entrepreneurs with a fair knowledge of the UAE market segment and customer preference will succeed in launching their business venture easily in UAE

Ideal Free Zones for opening a Logistics Company in UAE

Each Free Zone in UAE has distinct benefits and based on investor requirements the right Free Zone Business Setup Package is to be chosen. Aurion will assist you in picking the right choice for your business by assessing your precise business requirements.

Note: The list of Free Zones included below is not an exhaustive list, there are more than 45 Free Zones in UAE and most of the Free Zones offer business License for the activities under the Logistics sector.

The below list of Free Zones is curated based on the business benefits for the investors of a logistics company by setting up their business in the below Free Zones.

1. Dubai Airport Free Zone

Dubai Airport Free Zone is the world’s top Free Zone offering attractive company formation packages to the global investors. Dubai Airport Free Zone is the ideal choice for setting up a logistics company due to the enormous business benefits offered by the Free Zone.

Dubai Airport Free Zone – Key Highlights

The proximity to one of the world’s busiest airport makes it easy for trading and logistics companies to handle the Air Cargo Shipments at reduced transportation cost and handling fees.

The Free Zone offers custom-build warehousing facilities and light manufacturing & assembling units starting from 350Sq.m onwards with an office space and 30 employee visas.

The 0% import duty on all imports to Free Zone, Zero Taxation policies, and 100% foreign ownership are the highlights for foreign companies considering this Free Zone as the final choice.

Also, the easy company setup, UAE residence visa processing, bank account opening, and the prestigious Dubai Address is the additional benefits for the entrepreneurs.

2. Sharjah Airport International Free Zone

The Sharjah Airport International Free Zone is a reputed Free Zone in the emirates of Sharjah. The proximity to the Sharjah International Airport and the Khalid Sea Port makes this Free Zone the right Launchpad for logistics and trading companies aiming at local, GCC, and International Markets.

The company formation in SAIF Zone is relatively easy with minimum paperwork. The Free Zone also offers custom-build warehouses, land of warehouse/manufacturing units, as well as customized office spaces.

To know more about the warehouse specifications in the Sharjah Airport Free Zone, enquire with our experts!

3. Dubai South Free Zone

Dubai South Free Zone is the fastest growing Free Trade Zone and a preferred logistics hub in Dubai.

Dubai South specifically caters to logistics and trading companies by offering state of the art warehouses of customizable sizes to suit a wide range of requirements from the entrepreneurs.

With easy access to the Jebel Ali Port through a special logistics corridor and the Al Maktoum International Airport (DWC), the Free Zone is transforming the logistics and distribution network in UAE.

How to Setup a Logistics Company in Dubai South?

The Dubai South Free Zone offers numerous business setup packages for investors by following simple steps. Taking the assistance of expert Business Consultants will make the company registration process hassle-free.

Steps in Setting Up a Logistics Company in Dubai South Free Zone

• Prepare the application form for the initial approval
• Choose the right trade name and get the approval
• Choose the right business setup package (License type, office space, office type) – Aurion will assist you here in choosing the right company setup package)
• Prepare the documentation (shareholder resolution, passport copy, business plan) and submit the relevant documents for the company registration
• Pay the required fee and obtain the business license post-approval of the documents
• Also, obtain the company documents such as the incorporation certificate, special approvals (if any)
• Proceed to apply the UAE Residence Visa and Bank Account opening

So, in a nutshell, UAE is the perfect location for establishing a logistics company and easily scale up by tapping into the growing business opportunities in the region.

Here are few more choices of Free Zones for Setting up a Logistics Company in UAE, watch the full video!

There are numerous small and big trading companies and a growing consumer base in UAE. Logistics and distribution companies are the means to connect these suppliers/manufacturers with the end-consumer.

Those companies that provide exceptional service will get positive customer feedback and will be able to scale up easily with a growing number of order fulfilments.

To know more about Starting a Logistics Company in UAE, talk to our Expert Team right away!

Read more about “Tips for Setting up a Trading, Logistics, or Supply Chain Company in Dubai” and Import export licenses in UAE.

The post How to open a Logistics Company in UAE? appeared first on AURION.

The lifestyle, business infrastructure, shopping, tourism, etc., makes Dubai a favorite choice for all. Real estate investment in UAE offers the best rental yield when compared with the rest of the world.

Why Dubai is a Popular Choice for Real Estate Investment?

Property investment is a great way to generate a second income. There many reasons why Dubai is a lucrative option for real estate investment.

1. High Rental Yields

Dubai’s real estate market is very matured with high-return properties. It is estimated that yearly rental yields could be in the range of 5-9% of the property price.

 2. Lower Property Prices

Dubai offers one of the lowest property prices per square feet when compared to international markets of the UK, Hong Kong, Network, etc.

3. Property Purchase and Residence Visa

Property investment valued above AED 1 Million enables the investor to get a 3-year residence visa in the UAE.

1. 5-Year Long Term Residence Visa

Investment of AED 5 Million in real estate, the investor is eligible for a 5-year Long term visa. It is to be noted that the property must not be in mortgage or loan and must be owned completely by the investor and retained for 3 years.

2. 10-Year Long Term Residence Visa

Also, as part of Gold Card Visa, an investment of AED 10 Million in real estate and other investments in UAE enables the investor for a 10-year long term visa.

The investment of AED 10 million must be in such a way that 60% of the investment must in other business categories and not real-estate.

4. No Property Tax or Stamp Duty

There are no property taxes or stamp duties applicable in UAE, as in other global markets.  Also, the registration fees and overall property purchase price comes at a much affordable rate depending on the type of apartment and location chosen.

The property purchase process is very streamlined and monitored by the authorities. The investor will have a very peaceful and comfortable property registration in UAE.

Other Investment Opportunities in Dubai

Apart from Property Purchase in UAE for earning rental income, another lucrative investment in the UAE is to open a business in any of the Free zones of UAE at a very affordable rate.

There are a host of profitable business ventures in the UAE to explore. The wide audience base, technology infrastructure, Zero Taxation, availability of skilled labor, networking opportunity, etc., makes UAE the perfect destination to set up your dream company.

Choices Available for setting up your Business in the UAE

There are umpteen choices for setting up of company in the UAE. The free zones of UAE offer various company formation packages for new entrepreneurs to large companies with warehousing and manufacturing facility requirements.

Then, there is the mainland company setup for forming an LLC Company by partnering with a UAE national or appointing a local service agent according to the business activities chosen.

1. Business License from the UAE Freezones

UAE Freezones offers various business license types for investors ranging from services, commercial, and industrial, eCommerce, media, freelance, and more.

One can choose the list of business activities specific to their desired business license category. The company set up in Dubai is a streamlined and hassle-free process. Business Consultants will assist you by choosing the right free zone license and company formation package for you.

2. Choosing a Flexi-Desk Type Office or a Shared Office, or Work-Station

Free zones of UAE offer a wide range of office types based on your requirements ranging from Flexi-desk office space to shared office space and workstation.

The flexibility of choosing an office, 100% foreign ownerships, tax-free stature, 100% profit repatriation, no customs duty, etc., is making Free zone the No.1 choice for entrepreneurs.

3. Renting out a Fully Furnished Office in the Free zone

Based on your business requirement you can choose to rent a fully furnished office in the free zone complex. The free zones of UAE offer exceptional infrastructure and business ecosystem to scale up your company easily.

4. Opening a Business in the Mainland of Dubai

For a business looking at gaining more physical presence in the UAE local market such as retail, education, construction, real-estate, Maintenance & Electricals, healthcare, etc.,

(51% UAE National Shareholding) in the mainland of Dubai is more prospective to gain business and grow faster.

Also, for individuals in the fields of engineering, legal, accounts, doctors, etc., could opt for a professional license from the mainland of Dubai and appoint a local service agent for a yearly fee.

To know more about UAE Free Zone Company Formation and LLC Company Registration, talk to our expert team right away!

The post UAE Real Estate Investment and Company Setup in Dubai appeared first on AURION.

Why is UAE a Popular Choice for Expats?

There are umpteen reasons why UAE has grown to a popular choice for all. To name a few, they are:

• The high-end infrastructure and lifestyle in the UAE at 1/3rd cost compared to European countries
• The zero personal income tax rates, just 5% VAT, 100% foreign ownership of property & companies and ease of doing business
• UAE is the trade hub of the Middle East, UAE has one of the Safest banking sectors with the presence of all international Banks & hassle-free opening of bank accounts (Currency Arab Emirate Dirham pegged to Dollar)
• Easy access to world-markets in 160 countries, well-developed air, and sea transport & logistics support
• Geo-Political stability in UAE with enormous Government support to promote trade & entrepreneurship
• Safety & Security of life, the lowest crime rate in the world, high-end health care facilities, residents less prone to infections due to weather, hygiene, and food habits.

The Government of UAE has launched a series of initiatives in the lines of promoting Business ecosystem, real estate, Banking, lifestyle & tourism.

UAE aims to bring in a fresh talent pool, business growth, and foreign investment through the long term residence initiatives. “ FEEL FREE TO GROW” is the campaign initiated by a major Freezone in UAE.

Here is a list of options available for a Foreign expatriate to settle in UAE with their family.

1. Investor Visa through Company Formation

Setting up a company in one of the cheapest Free Zones of UAE is an easy way to obtain a 3-year Investor Residence Visa.

The Investor visa holder is eligible to sponsor their family subsequently to the company formation and processing of the owner visa.

2-Year Investor Residency Visa

The 2-year Investor Residency Visa can be renewed continuously at the end of its expiry period so that it’s almost like a permanent resident in UAE.

The country is NOT issuing any passport by way of separate CITIZENSHIP BY INVESTMENT in UAE. The UAE Free Zones has a wide range of Company Formation Packages tailormade for various investor requirements.

An investor can choose from multiple business license types, activities, office types, visa quota, free zone locations, etc. based on their nature of the business activity and budgets.

To know more about choosing the right Free Zone and Business Setup Package, talk to our expert team!

2. Residence Visa through Investment & Deposits

UAE grants residence visas for those investors who make significant deposits in a Company and become a shareholder or deposit on the entrepreneurial projects in the UAE.

Investments into new company formation or entrepreneur projects worth of AED 5 Million are eligible for a 5-year investor visa.

3. Residence Visa through Property Purchase

Property owners with an investment of at least AED 1 Million in designated freehold areas are eligible for a two-year renewable visa. As long as the property rests with the owner, the visa will remain valid. The investor must-visit UAE at least once every 180 days for keeping the visa status active.

The Visa provides all benefits of living in the UAE, apply for a driving license, opening a bank account, sponsor family, etc. The property residence visa does not entitle the investor to work in UAE.

4. Long Term Residence Visa

The Long Term Residence Visa is currently the most popular investment opportunity available for foreign expatriates and businessmen due to the long term validity of the visa. Here are the criteria required for fulling the Long Term Residence Visa issuance in the UAE.

Eligibility for 10-Year Visa (GOLD VISA)

1. Investment in UAE in the form of Real Estate and Business Setup

Public Investment of at least 10 AED million in the UAE in the form of real estate investment and other business investments.

The investment could be in any of the below forms:

• AED 10 Million deposit in the investment fund in UAE
• Company formation with a capital of AED 10 Million
• Partnership with an existing or new company with a share value of AED 10 Million
• Having a total investment of AED 10 Million in UAE with 60% of investment in sectors other than real-estate. (Real Estate shall not be under the mortgage)

Conditions to be met for issuance of the 10-Year Long Term Visa

• The amount must not be loaned
• The investment must be retained for at least 3 years
• There should be financial solvency of up to AED 10 million
• Each partner who contributes to AED 10 Million, could apply for the visa individually

The long term visa holder is eligible to sponsor their family, one advisor, and an executive director.

Investors from abroad could apply for the six-month multiple-entry visa initially to complete the procedures and apply for the long term visa.

2. People with Specialized Talents

Specialist Talents in the field of research, innovation, science, medical, art & Creativity have an opportunity to avail of the 10-year long term license.

The visa advantage also extends to the immediate family.  All the job categories require to have a valid employment contract in the specialized field.

To know more, read: Criteria for Long Term Residence Visa

5-Year Long Term Residence Visa in the UAE

Another popular visa option is the 5-year visa for entrepreneurs, property investors, and outstanding students.

Eligibility for a 5-Year Visa

1. Investors in a property in the UAE

The investment must be made in any residential property in the freehold areas of the UAE with a gross value of AED 5 Million

• Real estate property shall not be under the mortgage.
• The property must be retained for at least 3 years

2. Investment in Entrepreneur Projects

Investment of AED 5 Million in any of the entrepreneurial projects or accredited business incubators based in UAE is another option available for a long term residence visa.

A six-month multiple entry visa would be allowed initially to complete the long term visa process. The investor is eligible to sponsor Spouse & Children, also a partner and three executives.

3. Outstanding Students

Students with outstanding academic performance are eligible for the 5-Year Long Term Visa.

Students with a minimum of 95% marks in public & private secondary schools. Also, university students within and outside country having a distinction GPA of at least 3.75 upon graduation. The student is eligible to sponsor the family under the long term visa.

5. Freelance Permit

Freelance Visa permits are gaining popularity in the UAE recently. Most of the UAE Free Zones are offering Freelance Permits with Visa quota at affordable rates. Freelancers and Part-time employees can apply for freelance permits from the Free Zones and work legally in the UAE.

Freelancing is common mostly in the field of marketing, IT, Consulting, etc. A Freelance Permit is a perfect way to start an entrepreneurial journey in the UAE. It helps you to test the market first and then take the big step towards setting up your dream company.

6. Residence Visa through Employment

Expats who do not want to start a company or invest in property could consider the option of getting employed in a UAE based company. The employer would sponsor your visa and subsequently, you could bring your family to the UAE.

Most of the first-timers to UAE follow this route and then in the future look at opportunities of company formation once they get to know the local UAE market and business environment well.

Why choose UAE for Settling with your Family?

UAE is a perfect place to start your life and business establishment due to the world-class infrastructure and a stable economic & business environment. Also, being part of the growing business ecosystem provides you with numerous opportunities and networking capabilities.

UAE has it all to keep your family entertained year-round, it is one of the most secure and liveable places in the world. The Overall business and economic environment in the UAE are positive for long term growth and sustainability.

To know more about Long term residence visa and how to peacefully settle in UAE with your family, reach out to our expert business consultants right away!

Read more about “Why it is the Best Time to Start a Business in UAE?“.

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