There are several ways of becoming a permanent resident of UAE. The options of an employee or a student are not being considered, since our website is dedicated to business people and their family members.
There are 2 reliable options for this category of people to get the residency status in UAE.
The first option of the residency in the United Arab Emirates – by means of purchasing and owning a property, office or apartment. In order to have the right of applying documents for the residency visa status in Dubai 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 per person, which is approximately USD 273.000,- (they take into account the total value of real estate objects owned by a foreigner in Emirates).
The advantages of this option – no requirement to register a company. You can find more details about it here Property Visa in Dubai, UAE.
The disadvantages – the residency visa is issued only for 2 years and does not grant the right to work in UAE. It also involves relatively high value of investment into real estate.
The second option to become a resident of UAE – through a registration of your own company. Such company is registered in one of the Free Trade Zones in UAE and grants the right to apply documents for residency in the United Arab Emirates as a company’s shareholder. Not only does such company provide shareholders with residency, it also does provide such option for its employees, if necessary. Note - the fact of the matter is, that although you are not obliged to perform a business activity through that company in order to get residency status, you can also effectively use it for business and benefit from all the advantages of tax exemption for such companies.
The disadvantage of that solution – the expenses for company registration, whereby these expenses are insubstantial compared to the expenses for residency status as a shareholder in other developed countries.
The advantages – no requirement for investment necessary for obtaining residency as a property owner in Dubai. The residency visa of this type is issued for a longer period – 3 years. Additionally, this visa gives an opportunity of performing business on the territory of UAE.
Based on the above pros and cons, the majority choose the second option of applying for a permanent residency in UAE – through a registration of a company.
The time, needed for application of all documents, the company registration and obtaining of residency status is on average 1 month or slightly longer. The family visas can only be applied after the completion of the company’s shareholder’s visa.
Residency with a freelancer visa in the UAE
Freelance, as a form of employment, is gaining more and more popularity in recent years around the world, especially among the millennials. The UAE seeks to keep up with world trends and offers foreigners the opportunity to obtain a residency, legally working in the country, as a registered freelancer.
In order to obtain a freelance residency in the UAE, a foreign citizen must register as a freelancer in one of the local free zones, and obtain a license to perform a particular type of work – this is possible in almost all free zones. The process of registering a freelancer, obtaining an appropriate license and a residency is in many ways similar to registering a company, but the cost of the whole process is considerably lower, and the package of documents that has to be collected is smaller. Read more about residency with freelance visa in Dubai, UAE.
Mohammed Bin Rashid Al Maktoum announced a permanent residence visa for foreigners – a “Golden card.”
On May 21, 2019, His Highness Sheikh Mohammed Bin Rashid Al Maktoum, the Prime Minister and Vice President of the UAE, has announced the launch of a new “Golden Card” program for providing residency to particularly prominent investors, scientists, engineers and other talented people who have already made a considerable contribution to the country. An appropriate message has appeared on Sheikh’s Twitter:
The permanent residency “Golden Card” will be granted to exceptional talents and everyone who positively contributes to the success story of the UAE. We want them to be permanent partners in our journey. Residents are an indispensable part of our country.— HH Sheikh Mohammed (@HHShkMohd) May 21, 2019
Shortly, the first 6800 foreigners who in total invested over 100 billion dirhams into the UAE economy will receive this new permanent residency.
The Golden Card provides unprecedented opportunities for those who own it and their families. This residence visa is another step towards those who are striving to become the part of the success story of the whole country, who have already made it their second home, Sheikh Mohammed bin Rashid noted in his message.
The new initiative of providing permanent residency is intended to attract even more talented people and investors who are ready to develop the country, making it better for living. The Golden Card will enhance the competitiveness of the UAE and confirm the country's position as a global incubator.
Our company provides a full support in getting residency in UAE over both categories – property purchase and your own company. For all other questions on getting a permanent residency status in UAE, feel free to write or call us via our contact details on our website.
In order to get the initial advice please send us your request.