How to get a long-term business visa in Dubai

14.05.2024 17.06.2024 107 0 0

A long-term visa to the UAE opens up unique business opportunities for entrepreneurs in Dubai, Abu Dhabi and other emirates. The country is famous for its favorable climate for business activity, developed infrastructure and favorable location, which attracts international companies and startups. The document allows you to legally live and work in the country, which helps you manage your business more effectively, establish business contacts and respond promptly to market changes in one of the most dynamically developing regions of the world.

Advantages of doing business in Dubai

Starting a business provides entrepreneurs with many benefits so that moving to the Emirates is considered by people who will strengthen the economy and competitiveness of the country. One of the key advantages is benefits for foreigners, including the absence of personal income tax, which allows companies to reduce their operating costs and increase profits. Corporate income tax is 9%, and standard VAT is 5%, although in some cases it may be 0%.

The right to UAE residency has become an important privilege. Residence permit allows foreigners:

• get an Emirates ID;
• access to public health services and medical insurance at a discounted rate;
• send children to public and private schools;
• apply for a driver’s license;
• open a bank account;
• receive extended financial services: mortgage, car loan, personal loan, etc.;
• to use the visa-free regime to visit some countries, which should be clarified at the embassy.

Free economic zones

Free Economic Zones (FEZs) play a key role in attracting foreign investment and business development in the UAE. In these locations, entrepreneurs from abroad can fully own companies, which eliminates the need to find a local partner. FEZs offer special conditions for doing business, including exemption from customs duties, 100% repatriation of capital and profits, simplified registration and licensing procedures, and access to modern infrastructure. They also have independent laws and regulations.

Please note! Free economic zones are often located in residential areas, so that company owners can buy apartments and villas in Dubai or other emirates near their place of work.

In total, there are more than 40 multidisciplinary FEZs in the Emirates, which specialize in finance, technology, logistics, media, design, education, healthcare and other industries. Here are the most popular locations:

• Dubai International Financial Centre is the leading financial center in the region, where an independent judicial system and its own laws operate. The real estate here includes modern office buildings, commercial areas and luxury apartments, which makes the location popular for work and living;
• Jebel Ali Free Zone is a large SEZ that has several thousand companies. Its relevance is explained by its proximity to the seaport and Al Maktoum International Airport, which provides excellent transport accessibility. The property includes warehouses, office buildings and land plots;
• Dubai World Trade Center is one of the key destinations for international conferences and business events. Modern offices and exhibition halls are presented here, which is why it is a suitable place for doing business;
• Dubai Silicon Oasis Free Zone is a high–tech park that focuses on IT companies and startups. There is a well–established infrastructure in this area, and among the real estate there are office buildings, commercial areas and apartment complexes in Dubai;
• Masdar City Free Zone is a free economic zone in Abu Dhabi that specializes in sustainable technologies, renewable energy sources and healthcare. The property is represented by apartments and offices.

Types of long-term business visas in Dubai

In order to legally conduct their business and receive benefits from the state, the owner of the company must obtain residency. You can apply for it yourself or contact a visa company in Dubai that specializes in this type of service. The emirate provides 3 types of residence permits for entrepreneurs, which we will tell you more about.

Golden Visa

A businessman has access to a 5-year residence permit if he has an economic project of a technical or promising nature, which is based on innovations and risks. In addition, the entrepreneur must receive a letter of approval from the following authorities:

• an auditor who will confirm that the cost of the project is at least 500,000 AED ($136,000);
• the authorities of the Emirate who have approved the technical or promising nature of the development;
• an accredited business incubator in the country.

Advantages:

• renewable residence permit;
• the right to live, work and study in the UAE without a local sponsor;
• the opportunity to stay outside the Emirates for more than 6 months;
• permission to sponsor a spouse and children regardless of age, as well as an unlimited number of household staff;
• the right of the family to remain in the country until the expiration of the document, if its main owner has died.

Green visa

One of the most popular business visas in the UAE. It is issued for 5 years to investors who participate in commercial activities or establish a business in the country. Among the requirements:

• ICP approval;
• confirmation of investments from 1 million AED ($272,500). If the investor or partner has more than 1 license, the total volume will be calculated;
• approval of local authorities.

Privileges for owners:

• lack of a sponsor;
• extension of the residence permit for the same period;
• the right to sponsor family members, including unmarried daughters for an unlimited period and sons up to 25 years old;
• A 6-month period for the renewal of the document after its cancellation.

Dubai Virtual Work Program

A 1-year long-term business visa is intended for foreign business owners who can move to Dubai and continue working here. Applicants must:

• provide a document that confirms the ownership of the company for 1 year or more;
• confirm the average monthly income of $5,000 or its equivalent in another currency;
• provide bank statements from the company’s account for the last 3 months;
• confirm that the work is carried out remotely and outside the UAE.

The benefits for the owners:

• the right to renew a residence permit;
• permission to move to the Emirate with your family with the right of sponsorship.

Useful information! If you want to find out if a country is suitable to open a business, pay attention to a long-term single-entry visa to the UAE to explore investment opportunities. Its validity period is 60, 90 or 120 days.

How to get a visa to the UAE

The stages of applying for a residence permit include several key steps:

1. Prepare the necessary documents, which may differ depending on the type of residence permit. It is important to make sure that they are relevant and meet the requirements of the immigration authorities.
2. Apply online using ICP, eChannels and GDRFA websites, as well as ICP and Dubai Now apps. At this stage, you will need to fill out the appropriate forms, attach the collected documents and pay the service fees.
3. To wait for approval and obtain a temporary entry permit to complete the procedure.
4. Come to the country and undergo a medical examination at accredited institutions.
5. Submit biometrics at the public services center.
6. Get a visa and an Emirates ID – an identification card that is mandatory for all residents and is used for various administrative and legal procedures in the country.

Application documents, cost and deadlines

In the table, you can study how much a visa in Dubai costs, the main requirements and deadlines.

Additional documents also include the requirements listed above for each category of residence permit.

It’s important to know! If you are moving to the UAE with your family, your relatives need passports, birth and marriage certificates to apply for visas, which must be translated into Arabic and have consular legalization.

Extension of the resident visa

Extending the residence permit is an important process for those who plan to continue living and doing business here. All 3 visas listed in the article can be extended if the owner complies with all the necessary conditions and confirms his right to a residence permit, as well as when receiving it.

Residents are provided with long grace periods during which the expired document can be extended. For some visa categories, they can take up to 6 months.

If the owner has overstayed his visa, he is obliged to pay a fine of up to 50 AED ($14) per day. If, for good reasons, the owner will be absent from the Emirates during the period allowing the extension of the residence permit, this can be done in advance by obtaining permission from the ICP.

Cancellation of a resident visa

If an entrepreneur wishes to leave the UAE permanently, he must cancel his visa. It is recommended to go through this procedure, because if the foreigner then decides to move to the country for permanent residence, the previous unclosed visa may be a reason for refusal. You can do this online or offline through certified typing centers.

Before canceling the document, check if you still have any debts, close your bank account, and terminate the lease agreement. The rules of a long-term visa in the UAE state that it is first necessary to complete the validity of the residence permit of employees of your company and sponsored persons, including spouse, children and dependents.

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