UAE RESIDENCE VISA
The Entrepreneur’s Guide to UAE Residence Visa
Getting a UAE Residence Visa is a favorable thing to go for if you have a business in Dubai. After all, you simply cannot exaggerate about the benefits of getting to stay at the place where your business is located. Now, the government of UAE understands that and therefore, it gives you options for UAE Residence Visa that are designed specifically for investors. So, what are the requirements for getting UAE Residence Visa for entrepreneurs? Recently, details have emerged about a plan of the government to grant long-term residency visas to key professionals in the UAE, including entrepreneurs.
According to a recent UAE law, Investors, entrepreneurs, executives, as well as specialists working in medicine, science or research will be granted UAE Residence Visa to stay in the country for up to 10 years at a stretch.
As a part of the plan, meritorious students will also be eligible to apply for a long-term visa. This law is expected attract investors, skilled professionals and students to settle in the Emirates long term.
As the case with residence visas across the world, to apply for UAE Residence Visa, you need to qualify for a series of requirements, as set forward by the laws.
So, let us take a quick look at some of the common questions that you might have about UAE Residence Visa
What will investors need to qualify and what type of visa will they be granted?
As an investor, you are eligible for either a five or 10-year UAE residence visa. It depends on the size of your investment in the UAE.
If you own property worth 5 million AED then you can apply will be eligible for a five-year UAE residence visa. On the other hand, if you hold an investment through a deposit in an UAE established company or a business partnership worth 10 million AED or more, then you can be UAE Residence Visa be granted a renewable residency every 10 years. You can also qualify for renewable UAE Residence Visa for every 10 10 if you have made an investment 10 Million AED, including property. The investment in property must be less than 40 per cent of the total investment.
According to the laws, an investor’s spouse, children, as well as one executive director and one adviser can also obtain long-term UAE Residence Visa. If you have a business partner who has invested in 10 Million AED, then they will be eligible as apply as well. You will be granted permission to enter the UAE for a six-month period with multiple entry permits in order to apply for the UAE Residence Visa.
Can a property be mortgaged, or investment financed?
Well, under the rules specified, both the property and/or investment must be wholly owned. They should not be borrowed. You must furnish the documents that proves an investment retention of at least three years, and a standard financial liability with a financial solvency not more than 10 Million AED
What about entrepreneurs?
Entrepreneurs with a previous project worth a minimum of 500,000 AED will be granted a five-year visa. If you have the approval of an accredited business incubator in the UAE, then you can also apply for UAE Residence Visa.
An entrepreneur’s business partners, along with three executive directors, and their spouse and children will also be granted UAE Residence Visas under the scheme. You will be given permission to enter the Emirates for a six-month period with multiple entry, and the option to renew for another six months, in order to apply for the five-year visa.
You can get in touch with a professional business consultant like Arab Business Consultant . They would simplify the process of getting UAE Residence Visa for entrepreneurs. There is more! They would also help you with business setup in Dubai. So, get the help of the expert and get the residence visa to Dubai with ease.
