The UAE business and property market have thrived as never before owing to a multitude of expats coming to UAE, becoming residents and contributing to the UAE economy.
The number of Indian and Pakistani nationals clearly stand out from the crowd as more and more Indian and Pakistani nationals come to UAE to become residents. How to do that and get the UAE residency?
The two easy ways to become a resident in UAE are outlined below.
If you think about getting a high return on your investment on the UAE territory, the property purchase is a perfect step to achieve this goal.
The property market is on the verge to achieve high returns as ever, as a new wave of residential properties is on its way to sprawl across Dubai and it’s the perfect time to invest in new properties and achieve high returns by 2020 and beyond.
Investing in a property worth at least 1 million dirhams will grant the right to apply for a residency visa which will be issued for 2 years and is subject to an optional renewal every 2 years.
The process of becoming a resident takes roughly 4 weeks and requires an applicant to be present twice in Dubai during these 4 weeks.
In the course of the 4 weeks, an applicant will get his/her passport with a residency visa stamped therein as well as get his/her Emirates ID which is the identification card of each resident. The possession of the residency visa does not require the holder to reside permanently in UAE. The holder must merely come to UAE once for at least 1 day every 180 days from the last exit.
The other route to become a resident is by incorporating a free zone company with a 100% foreign ownership. The company may do business inside and outside of UAE. However it is not mandatory so that the company can be used as a vehicle for residency.
The incorporation route is similar to the property process and takes roughly 4 weeks. The residency visa is issued for 3 years and is subject to an optional renewal every 3 years.
The company’s owner does not have to invest a share capital, rent an office or submit an audit report. Hence it proved to be a very convenient option for residency status in UAE.
Another advantage of becoming a resident in UAE either through property purchase or company incorporation is the opportunity to become a tax resident of UAE after only 6 months of residency which will grant the opportunity to benefit from the double taxation avoidance agreement between UAE and other countries.
To have more info on how to receive residency visa status by Indian and Pakistani nationals in the UAE please call or write us, and our advisors would provide you with the detailed info.
