Foreign nationals who want to start their own business or invest in an existing firm in Dubai can apply for a Dubai Investor Visa, also known as a Dubai Partner Visa. For the period of the visa, the holder of a Dubai investor visa is allowed to remain in the UAE and come and go as they want. The bearer of a Dubai Investor Visa becomes a UAE tax resident and is not taxed in their home country, but this is subject to the investor’s home country restrictions.
A Dubai Investor Visa holder is eligible to apply for an Emirates ID card, open a bank account, obtain a UAE driver’s license, sign up for Etisalat or Du mobile and home packages, and a variety of other services. The Dubai Investor Visa allows the holder to sponsor their spouse, children, and parents to join them in Dubai.
- Investment in Residential Property
Individuals who choose to invest in residential property worth AED 1 million or more, with a maximum of 50% of the property value under mortgage, are eligible. If each individual’s stake in a jointly owned property is valued at least AED 1 million, they are qualified to apply. It must be a single residential property, not a business property. Furthermore, the visa is only available for freehold residential properties; off-plan properties are not eligible for this visa.
The visa is valid for three to five years and can be renewed as long as the investor owns real estate in the country. Individuals who have purchased a property worth at least AED 1 million are eligible for the three-year visa, while those who have purchased a property worth at least AED 5 million are eligible for the five-year visa.
- Investing in a Business
Individuals who choose to invest in or create a business in Dubai’s mainland or other free zones are eligible. The Dubai Economy currently offers over 2,100 different types of business permits for starting a firm on the mainland. In order to start a firm on Dubai’s mainland, you’ll either need a partner with UAE citizenship who will be a majority shareholder or an agent who will deal with government authorities.
For the first time in the country’s history, recent regulatory amendments have removed the necessity for commercial businesses to have a majority Emirati shareholder or agent, allowing for 100% foreign ownership of companies on Dubai’s mainland for the first time. The UAE Cabinet’s policy of allowing complete foreign ownership of onshore enterprises in specific commercial activities continues in place.
This visa is available to investors who possess shares in a firm worth at least AED 72,000 or who are starting a business with a capital investment of the same amount. For international investors, establishing a business in one of Dubai’s free zones requires no local sponsors or partners, corporations are tax-free, and foreign nationals can own 100% of the company. The visa application process may vary depending on a number of factors, including the company’s location in a free zone and the type of its operation.
- Visa for Long-Term Stay
Investors who meet particular conditions are entitled for a 5- or 10-year residency, depending on the magnitude of their investment in the country, under this newly created visa. Also eligible to apply are the investor’s spouse, children, one manager, and one advisor.
The 10-year residency visa is available to investors who invest at least AED 10 million in the UAE, either through a deposit in an investment fund or by forming a company in the UAE with a capital of at least AED 10 million, or by partnering in an existing or new company with a share value of at least AED 10 million, or by investing a total of AED 10 million in all of the above areas. Investors in a property with a gross value of not less than AED 5 million or entrepreneurs with an existing project with a minimum capital of AED 5 million are eligible for the 5-year visa.
- Visa for Retirement
This visa category was created specifically for investors over 55 who want to retire in Dubai’s wonderful sun. Individuals who invest in a property worth AED 2 million, have acquired funds worth AED 1 million, or have an active monthly income of at least AED 20,000 are eligible for this 5-year visa.
Documents Required When Applying for a Golden Visa in Dubai
- IBAN (International Bank Account Number) As proof of ownership, the number of the sponsor’s Establishment Card Memorandum Papers (MOA)
- There is only one photograph with a white background.
- Partner’s current visa in the United Arab Emirates (if applicable)
- a copy of your partner’s passport
- Copy of the sponsor’s Emirates ID Trade Licence
Previously, a majority shareholder had to be a UAE national or an agent who could communicate with government offices. However, recent regulatory changes have made it possible for foreigners to acquire the entire mainland of Dubai. Without an Emirati majority shareholder, more than 1,000 commercial and industrial operations can now be carried out.