Settling in the UAE with Family: Investor Visa, Types of Sponsorships and Visas
The United Arab Emirates (UAE) is home to a diverse population. The expat population in the country is rising rapidly. The Country offers top-class infrastructure, a high quality of life, a favourable tax regime, and more.
There are multiple residency options available in the UAE for investors, professionals, or students. They can also sponsor dependents on their visas. This article highlights ways to obtain a UAE residence visa, the types of visas available and subsequent investment options for the expat population in the country.
Why choose the UAE for settling with family?
There are several reasons why a foreigner chooses UAE to settle down with their family. The UAE is a family-friendly destination with world-class business infrastructure. Also, the favourable tax structure, political and economic stability, and public safety make it a first choice for investors.
So, along with these advantages, the UAE has multiple long-term residence visa initiatives to attract expatriates. So, now students, entrepreneurs, scholars, innovators, etc., can be eligible to apply for a long-term visa.
1. Investor Visas through Company Formation
One of the simplest ways to obtain a residence visa in the UAE is to start a company and take an investor visa. The investor visa is valid for 2 years and is renewable. The company can be either formed in a Free Zone or the Mainland.
Expert business consultants will help in choosing the right business setup packages. Depending on your business requirements, they can choose between the Free Zone and the Mainland.
There are several business advantages to obtaining an investor visa by opening a company in the UAE.
1. Opening a Free Zone Company
The Free Zone company allows 100% foreign ownership, flexible business operations, attractive tax benefits, and more. Moreover, the visa application is simple, and the investor can sponsor their family, too.
2. Opening a Mainland Company
Similarly, the Mainland Trade License will lead to uncovering immense business opportunities. For local market penetration and access to a broader audience base, having a Mainland company will help.
Especially for retail and wholesale traders, engineering building materials trading, etc., having a mainland license is beneficial as it allows them to expand their business and accommodate more visas under the company.
Documents Required for Obtaining an Investor Visa in UAE
To process the UAE Investor Visa, the entrepreneur must submit a few documents, and the company must be fully functional. The Trade License of the company must be valid and renewed yearly.
Also, the establishment card for the company must be also valid to proceed with the employee or investor visa. So, the following documents are generally required for processing a UAE Residence Visa of an individual under a company.
- Passport copy
- Photograph with white background
- Memorandum of association for the company
- Immigration Establishment Card
- Trade License
- Office Space Lease Agreement
The processing time usually falls between 5–7 working days, subject to the Free Zone authority. The final visa is then stamped in your passport.
2. UAE Residency Visa via Property Investment
Obtaining a UAE Residency Visa through the Property Investment pathway is a popular choice among expats. With the long-term Golden visa issuance, property purchase is becoming a major choice for many.
Also, the real estate in the UAE is booming, and it is the best time to buy a property as the country is at the peak of economic activities. Also, to hedge your investment and future from geopolitical tensions around the world, having a property in the UAE is seen as a safe choice.
Options Available for Property Investors
There are mainly two options available for property investors to secure a UAE residence Visa. There is a 2 Year residence visa and then a 10-year golden visa. It depends on the value of the property investment.
1. 2 Years Residence Visa
If the value of the property is less than AED 1 million, the investor is eligible for a 2-year residence visa. The minimum value of a property must be worth at least AED 750,000, and the property must be ready to occupy and not in the construction stage.
Also, an electronic copy of the Title Deed is mandatory. Also. if the property is financed by a mortgage, then 50% of the property value must be paid up front. Additionally, a letter from the bank stating NOC for the visa issuance is also a requirement.
The process of applying for the 2-year property visa is very straightforward, and our team of business consultants will facilitate the process seamlessly.
2. 10-year Golden Visa
The 10 Year Golden Visa is the most popular UAE Residence Option available presently. Owning a property worth AED 1 Million in a designated freehold area qualifies for the golden visa. As long as you retain the property or maintain the property asset holdings worth AE 1 Million, the visa can be valid.
There are many benefits to settling in the UAE. The flexibility of travelling out of the UAE and staying away for more than 6 months is another advantage. The process of applying for a Golden Visa involves a few steps. Our Business Consultants will handle the requirements and process them the right way.
3. Other Residence Visas Launched in UAE
So, the UAE offers the expatriates multiple types of Residence options to settle down. The country has a lot to offer the expat population. Based on your specific business requirements or preferences, our team will provide you with a way to secure your UAE residence without any hassle.
1. 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.
2. 5 Year Green Visa
Similar to Golden Visa, there is a Green Visa dedicated for entrepreneurs, freelancers, and executives. The tenure of the visa is 5 years. It is eligible for those who have projects in the UAE and have significant capital investment in strategic projects in the country. Also, it can be for freelancers and Executives working in corporates earning AED 15,000 or more.
Furthermore, there is a golden visa category for outstanding students in sports, education, professional courses, etc. Depending on their grade point average in their examination, the outstanding students will be qualified for the golden visa. The minimum GPA is 3.75 to qualify for the visa.
Additionally, the Golden Visa eligibility is extended to social service, celebrities, social media influencers, gamers, AI coders, and more. UAE is aiming to be the go-to country for expats to explore the opportunities in technology, media, lifestyle, and more
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.
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.
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
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
1 Response