UAE
UNITED ARAB EMIRATES
UNITED ARAB EMIRATES
RESIDENCY BY INVESTMENT
Description
The United Arab of Emirates consists of seven self-governed emirates Abu Dhabi, Dubai, Sharjah, Fujairah, Umm Al Quwain, and Ajman which formed a federation in 1971 later the seventh’s state of Ras Al Khaimah had joined the federation on 10 February 1972.
The United Arab Emirates (UAE) (were formerly known as the Trucial States), is a country on the Arabian Peninsula where located on the southeastern coast of the Arabian Gulf and the northwestern coast of the Gulf of Oman. It has an international border with Qatar, Oman, Saudi Arabia, and Iran.
The country has been characterized by the presence of pearls in abundance, which was the aim of all parties were trying to get in one form or another; but the British protection helped to reduce the piracy of pearls, which led to the prosperity of pearls industry, and thus increase the income and employment of UAE nationals along the Arabian Gulf. As one result of The World War II, the pearl industry has ended which in turn led to a major economic decline and continued until 1960 when the first oil shipment from Abu Dhabi was exported to revive the economy.
Investment criteria:
Applicants under UAE Residency Programme must choose one of the potential routes:
Purchasing and owning a property worth not less than 1 million dirhams, which is approximately USD 273.000.
- Register the company at Free Trade Zones in UAE.
- Entering in an Employment contract.
Application criteria
- Validity of the passport for at least 7 months.
- Three empty pages for stamping and sticker.
- Original birth certificate.
- Good Health, applicants should have excellent health and must show that they do not suffer from any contagious diseases.
Benefits of UAE Residency Program:
- UAE one of the richest and developed countries.
- Low tax rates.
- Spouse and dependent ( children – parents) can include in the application.
- Excellent Educational.
- Residents of UAE, including expatriates, could use their Emirates ID card at the e-gate in Dubai International Airport Terminal 3 upon arrival.
- Full confidentiality in carrying out the procedures.
- The UAE is the second safest country in the world behind only Finland, according to a report from the World Economic Forum (WEF).
- The country continues to be the most competitive economy for developing its travel and tourism sector in the Middle East and North Africa and ranks number two globally for tourism safety, latest data from World Economic Forum shows.
Benefits of UAE Residency Program:
- The processing for Residency program takes 10 -21.
- No interview, education, or management experience required.
- No language requirements.
Five countries UAE residents can visit without a visa
As long as you have a residence visa in the UAE, you can travel without a visa
Azerbaijan, Georgia, Armenia, Maldives, Seychelles, and Mauritius. The UAE residency also helps facilitate some visa procedures for several countries.
THE MAIN STEPS TO GET UAE RESIDENCY
- Await decision.
The process may be simplified into the following steps:
Step 1
Register for E-Channel services; the first step to applying for a free zone visa in the UAE is to register for the e-channel services. It is designed by the Government of the United Arab Emirates to simplify visa procedures. NTL on your behalf will register your company for online services and pay the mandatory registration fee – AED 2,500 plus a refundable security deposit of AED 5,000 – and they will do the rest. You will receive a notification as soon as you are registered.
Step 2
Entry permit; You’ll need to apply for your entry permit after registered for E-Channel services, which also known as an employment visa. This is essentially a temporary visa, valid for 60 days. Entry permits are usually issued within 15 days, however for an additional fee of AED 1,000
It is strongly advised that you refrain from leaving the UAE after applying for your entry permit. Doing so can cause discrepancies in your immigration file which can lead to delays in the process. Your entry permit is an electronic document that will be emailed to you once ready.
Express service is available which takes 5-7 working days.
Step 3
Status change; after obtaining the entry permit, starting the process which known as ‘status change’ or ‘status adjustment’.
It is not possible to obtain your full visa without completing this stage. There are three different ways to carry out a status change – in-country, out of country, and the so-called ‘border run’.
- in-country status change is the easiest option: simply submit your passport to immigration that will stamp and activate your employment visa. The process takes around 3-5 days and costs AED 750.
- Out of the country, outside the UAE when your employment visa is issued, or you plan to leave the country shortly afterward, it is possible to activate your visa by exiting and re-entering the UAE and presenting your printed employment visa to the immigration officer at the airport in the immigration arrivals hall. The immigration officer will then stamp and activate the visa. This option is not available to all nationalities so it is always best to check with your free zone authority before leaving the country on a UAE employment visa.
- Border run option entails exiting the UAE by land, receiving an exit stamp, and then re-entering by presenting the printed employment visa to the immigration officer at the border to obtain an entry date stamp on the document itself and in the passport. This option is only applicable to passport holders of countries that are eligible for visa-on-arrival travel to the UAE. Border runs are strongly advised against as it is not always guaranteed to work.
Step 4:
Medical fitness test and UAE ID registration
For UAE visa you need to do a medical fitness test and the registration of the UAE ID card.
The medical fitness test consists of a blood test for any contagious diseases, and x-rays in the chest. This can be completed within a few hours, and results are usually available after three business days.
With the results of your medical examination, you can apply for your Emirates ID card. This is an identification card that must hold at all times; to open bank accounts or enter into mobile phone contracts or a lease. For this process, you will need to visit an official authority of identity to submit your application. Some biometric details (eye scans and fingerprints) should be taken. Accepted you are invited to pay the investment in full.
Step 5
Stamping the Residence visa; the final stage of the visa application process is the residence visa stamp – this refers to obtaining a residence visa stamp or sticker in your passport. This process can take up to 15 working days during which time you will be unable to travel outside of the UAE.
ECONOMIC Residency:
- Purchasing and owning a property
Purchasing and owning a property. In order to have the right of applying documents for the residency visa status in UAE over this category, the property must be completed, means, its construction must be finished and the value of such property must be not less than 1 million dirhams, which is approximately USD 273.000.
- Register the company at Free Trade Zones in UAE
Register the company in a UAE free trade zone and the right to submit residence documents in the UAE as a shareholder in the company. This company does not only provide shareholders with residence, but also provides this option to its employees, if necessary.
It great to mention that, although it is not obliged to conduct business through that company in order to obtain residency status, it can also be used effectively for business and to take advantage of all the advantages of tax exemption for these companies.
- Employment contract
Under this option you obtain the residence visa by entering into an employment contract, you need an employment visa in order to get employed officially in Dubai or other Emirates. All formalities related to visa obtainment shall be performed by your employer. On average it takes 2-3 weeks to receive such visa.