UAE Investor Visa – Before Starting Your Business
Setting up a business and starting a new life in Dubai is indeed a dream. The idea of doing business with your life’s savings is definitely scary, but with the right strategy, no one can hold you back in realizing this dream. Dubai is seen as the land of opportunities but like any other country, starting your own business will require you to satisfy and comply with a number of visa regulations.
An Attractive Market for Investors and Business Owners
Dubai’s status has been long established as one of the top emerging markets across the globe, so it would not be wrong to say that it is the ideal place for investment and business ownership. The past and even the most recent regulations surrounding business owners in Dubai have put across the same message that Dubai is open for business. Moreover, with the United Arab Emirates offering several grants and the liberal business policies it has upheld for so many years now have strengthened the economy by catapulting it and making it the centre of attention.
Having excelled at dividing the United Arab Emirates into different categories with economic free, mainland and offshore zones, Dubai has made sure that every aspiring businessman can grow and make Dubai their new home. One of the most lucrative categories include the free zones with tax-free policies, low cost set up, 100% foreign ownership and complete repatriation of profits.
Attracting 56% of the Fortune 500 Companies of the world, Dubai has demonstrated that it offers a friendly ecosystem to set up, scale and service the markets of not just Dubai, but beyond.
Visa Regulations Surrounding Business Owners
To give you a heads up, if you are planning to set up a business in Dubai, you will be relieved to know that getting a business visa for Dubai is simpler than getting it for any other country.
While every zone in the UAE has different rules and regulations when it comes to obtaining a business visa, here are some common requirements that you need to satisfy:
- You will have to register your company in Dubai, and this way your business will be your sponsor.
- Having a local partner will be mandatory to set up a business in Dubai (Exception: Free Zone and no physical office space required).
- If you choose to set up a consultancy in the free zone, you will be eligible for both, work permits and residency.
- Your sponsor must meet a minimum salary requirement
- You cannot obtain permanent residency even if you set up your business in the UAE.
- There is a secondary sponsorship system through which you can sponsor your spouse, parents and children.
- The license has to be obtained from the Department of Economic Development, Dubai (DED) for business visas in the mainland and there is no limitation to the number of visas issued.
- Offshore companies can have an account in Dubai but are not allowed to set up a physical office.
- For business visas for all zones, government and other agency approvals are required.
Before You Plan a Dubai Visit
Before you go out on a limb and book your ticket to Dubai straight away, you will need to know whether you require a visa or not. Nationals of the GCC countries like Kuwait, Bahrain, Oman, Saudi Arabia and Qatar do not require a visa to enter Dubai, and therefore flying to Dubai and showing your ID/passport at the exit will do.
You will require a visa if you are from the Asia Pacific, Americas or the European Union., however over 47 countries in these continents can get their visas on Arrival, therefore there is no need for advanced planning. On the other hand, the rest of the countries will have to go through a complete process of visa application before they can step on to the Emirati soil.
For more information, stay tuned for more blog posts.