Setting Up a Business in Dubai as a Path to Permanent Residency
Foreign investors know that the United Arab Emirates (UAE) has a business-friendly tax and fiscal system, simple answers to common business challenges, and strong international connections. Because of these fiscal policies and benefits, the UAE has become a major center for international trade and commerce. Also people can setting up a business in Dubai as a path to permanent residency.
The number of people applying for residency in Dubai is rising in tandem with the city’s popularity.
Here are some of the options for settling down in Dubai permanently
- Your employer will sponsor your resident visa, but you will need to renew it every two or three years.
- Buying property in the Emirate of Dubai is another viable option for establishing permanent residence in the city. After you become a permanent resident of Dubai, you will be eligible to open a bank account there.
- Establishing a firm in Dubai is one path to permanent residency in the Emirate. With this residency visa, you can set up shop in the Emirate.
Organization of Businesses in a Free Trade Zone
Special Economic Zones (SEZs) are the official name for the several UAE Free Zones that can be found all across the country. There are more than fifty of these zones, and they all enable for different kinds of commerce to be done, including media, shipping, and logistics. Assess the full scope of your enterprise before applying for a business license. Business owners need to apply for several licenses depending on whether their operations will be local, international, or just for producing invoices. Obtaining a Free Zone license is the better option if you want to run your business mostly outside of the UAE.
Organization of Businesses in Mainland
- Since the standard procedures and hurdles were lowered, mainland license has become increasingly popular. A permit from the mainland is required to operate a business in the onshore region of Dubai. Businesses with this license typically have a local partner that owns between 49% and 51% of the company.
- When it comes to immigration, Dubai in the UAE has always been the center of attention.
- There are two main reasons why Dubai will become one of the world’s megacities: its multicultural atmosphere and its great connectivity.
- Dubai’s locational benefits, such as its extensive coastline and status as a global aviation hub, have attracted individuals from all over the world.
- The government of the United Arab Emirates (UAE) has traditionally extended a warm welcome to foreign investors and assisted them in establishing their businesses in the country.
- Successful business regulations, such as allowing foreign investors to own 100% of a company, have drawn a flood of investment money from all around the world.
- Total income or corporation tax waivers are two examples of the types of tax policies that have proven popular with investors and effective in practice since their introduction. Only the banking and oil industries are subject to corporate tax.
- The UAE is a top investment destination in part because its value-added tax rate is set so low, at just 5%.
- Because the UAE Dirham is pegged to the US dollar, the country’s economy is extremely stable.
Getting your business off the ground in the United Arab Emirates can be done for as little as $2,000 in free zones and $5,000 on the mainland.
- Sponsored visas for immediate family members. The investors’ dependents can apply for permanent residency after they have received their own. The entire process just takes 36 days, making this a fairly quick option. Applicants’ physical presence in the nation is not required.
What you need to apply for residency in Dubai
- Fillable Application
- Hard copies of current, valid passports
- Certificate of Marriage (if applicable)
- Documentation of all relevant degrees and licenses
- The hiring process also includes a medical examination of the applicant. Every time a residence permit is renewed, a medical exam must be completed.