11 Types of Residency Visas for Entrepreneurs in Dubai

You will require a specific permit or visa to live and work in Dubai. You won’t be able to open bank accounts, get a driver’s licence, or apply for a tenancy contract without a relevant visa like a residency visa. Although a visit visa may allow you to obtain a temporary mobile phone SIM card and even open a non-resident bank account,

Types of Residency Visas for Entrepreneurs

it is preferable to apply for a residency visa rather than operating on a temporary visa when doing business in Dubai. Keep in mind that if you are on an employment visa and also run a business, you may be limited in what you can do with your side business.

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This guide will provide you with detailed information on which residency visas are available to you and how to apply for them. There are several types and categories of business and employee visas for the UAE. The following are some examples:

Visas for Investors

An investor residency visa provides you with temporary residency for three years. This visa is recommended for foreign business people who want to invest in the UAE or spend some time setting up their own company. To be able to trade and relocate to the UAE, you must deposit at least AED 10,000 into a UAE bank account.

Visa for Work

You can apply for an employment visa if you want to work for a firm or be an “employee” of your company. Please keep in mind that there are numerous additional procedures to this application. For example, having certain documents approved and attested in your home country and submitting them throughout the application procedure is a prerequisite.

Certain educational certificates are examples of paperwork. Because you are essentially being sponsored by the company filing for your residency visa when you apply for an employment visa, they may be obligated to ensure that you follow certain regulations and limits.

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Any violation of these guidelines may result in your residency visa being revoked, so make sure that if you obtain a visa through work, your employer does not place any restrictions on you running a side business.

Visas for the Long-Term

In May 2019, the UAE government announced major reforms to long-term visas for entrepreneurs and investors. As of that date, potential residents might apply for residency visas for five years, ten years, or permanent residency, all of which are intended to encourage long-term residency and attract investors.

Visas for 5 years

A 5-year visa is a long-term residence permit that you can get if you plan on staying in the nation for a long time. You may be able to claim a 5-year stay without the need for a sponsor, unlike some other types of visas.

There will be minimal documentation if you are an entrepreneur handling a project worth more than AED 500,000, for example. The same is true if you have made a property investment of at least AED 5,000,000. The residency visa will cost AED 650 for five years.

Visas for ten years

Ten-year visa categories, like the others, may require you to find a sponsor. A sponsor is someone who will help you submit an application to live and work in this country. Are you a

  • Doctor
  • Scientist
  • Inventor
  • Creative genius

With a public investment of more than AED 10,000,000? Without the necessity for sponsorship, you may be able to apply for and acquire a visa. The residency visa will cost AED 1,150 for a period of ten years.

Permanent residency visa or a “Gold Card”

As previously stated, these residency visas allow you to reside in the UAE forever. In other circumstances, it’s referred to as a ‘gold card.’ These are appropriate if your company is situated in the UAE permanently and/or you wish to live there with your family.

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The UAE identified 6,800 expats from over 70 countries with a combined investment of AED 100 billion when this was disclosed. Investors, entrepreneurs, specialist talents, researchers, and great students are all eligible.

Visas for Tourists

Tourist visas are necessary for certain nationalities visiting the UAE. You will need to obtain a tourist permit if you are not eligible for visa-free travel or if you are unable to apply for a visa after landing. They have a 30-day or 90-day validity period. To apply, contact a UAE hotel, airline, or tour company, who will submit your application on your behalf for a fee.

Visas for Students

You can apply for a student visa if you want to study in the UAE or if you have children or relatives who want to study there. You must, however, first be accepted by a UAE university. Make sure to include your passport information, recent pictures, and evidence of finance. You must also complete a form provided by the institution that has awarded you a spot.

Spouses and children with dependent visas

Spouses and children of UAE residents may be granted dependent visas, often known as family visas. Residents may sponsor wives, children, and other relatives to reside in the UAE. You can now sponsor your family to stay with you in the UAE regardless of your job, thanks to revisions in the law; however, you must meet a minimum wage criterion.

Deposits on Visa

In the United Arab Emirates, visa deposits for foreign workers have changed substantially. Previously, you had to pay a minimum deposit of AED 3,000 per employee. However, a yearly scheme that is covered by insurance now requires you to pay a small insurance charge of AED 60 per employee.

These modifications were developed to aid employees and businesses alike with the job application and funding process.

You Might Need Some Documentation

You will need appropriate papers and information to apply for any visas or long-stay visas in the UAE. While the documents you’ll need will differ based on the visa you’re applying for, most residency visas will require the same documentation.

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These can and will frequently include:

  • A current passport (for at least six months)
  • A one-way airline ticket
  • Birth certificate and proof of citizenship
  • Evidence of marital status (e.g. a marriage certificate)
  • Proof of education or admission to a UAE college or institution
  • Signed confirmation of a job offer from an employer in the United Arab Emirates.
  • Investment proof in the United Arab Emirates
  • Proof of medical coverage (required for ID applications and employment visas)
  • Fingerprint and biometric proof (required for ID application; supplied by you at a Registration Centre in UAE)
  • Photographs of candidates in full colour (passport-sized)
  • Payment in full for all visas and IDs requested
  • a letter of approval from a bank or other financial institution (required for investor visas, for example)
  • You might also require information and documentation from a sponsor.

Note that some of the documents listed above may originate in your native country and hence require legalisation and attestation there first. Always keep photocopies of your documentation and passport-sized pictures on hand.

To apply for an Emirates ID card, you must first fill out an online application and pay the required costs. After that, you must go to a Registration Centre in the UAE to verify your documents and set up your biometrics.

Disclaimer

Because this article is written in general terms, it cannot be relied upon to cover specific situations; the application of the principles outlined will be dependent on the specific circumstances involved, and we recommend that you seek professional advice before acting or refraining from acting on any of its contents.

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A blogger who blogs about Business, Information Technology, Digital Marketing, Real Estate, Digital Currencies, and Educational topics that can be of value to people who visit my website
Lawrence

About Lawrence

A blogger who blogs about Business, Information Technology, Digital Marketing, Real Estate, Digital Currencies, and Educational topics that can be of value to people who visit my website

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