How can I get golden visa in UAE?

The United Arab Emirates (UAE) has become a popular destination for investors and entrepreneurs who wish to establish their business operations in the region. One of the most attractive benefits for foreigners is the Golden Visa program, which provides them with long-term residency in the country. In this article, we will explore how to obtain a Golden Visa in the UAE and the advantages of starting a company in Dubai.

What is a Golden Visa?

A Golden Visa is a long-term residency visa issued to foreign investors, entrepreneurs, and high-net-worth individuals who meet certain requirements. This visa allows holders to live and work in the UAE for up to 10 years without the need for a sponsor. It also provides access to social services such as healthcare and education.

The UAE launched the Golden Visa program in 2019 to attract foreign investment and talent. The program is open to investors in various fields, including real estate, finance, science, and technology. To obtain a Golden Visa, applicants must meet certain eligibility criteria and provide evidence of their contribution to the UAE's economy.

Eligibility Criteria for Golden Visa

The eligibility criteria for a Golden Visa in the UAE vary depending on the category of the applicant. The following are some of the categories and their eligibility requirements:

Investors: Foreign investors who invest at least AED 10 million in public investments or a company in the UAE are eligible for a 10-year Golden Visa.

Entrepreneurs: Entrepreneurs who establish a company with a minimum capital investment of AED 500,000 or who have a project approved by an accredited business incubator are eligible for a 5-year Golden Visa.

High-Net-Worth Individuals: High-net-worth individuals who have a net worth of at least AED 50 million are eligible for a 10-year Golden Visa.

Professionals: Professionals who are specialists in fields such as science, medicine, and research are eligible for a 10-year Golden Visa if they meet certain criteria.

Students: Exceptional students who graduate from universities in the UAE with a GPA of 3.8 or higher are eligible for a 5-year Golden Visa.

Advantages of Setting up a Business in Dubai

Dubai is one of the most attractive destinations for investors and entrepreneurs due to its strategic location, business-friendly policies, and advanced infrastructure. The following are some of the plus points of setting up a business in Dubai:

  • Tax Benefits: Dubai has no personal or corporate income tax, making it an attractive location for investors and entrepreneurs.
  • Strategic Location: Dubai's location at the crossroads of Europe, Asia, and Africa makes it a prime center for global trade.
  • Business-Friendly Environment: The UAE government has implemented various policies and initiatives to attract foreign investment and talent.
  • Advanced Infrastructure: Dubai has world-class infrastructure and facilities, including airports, seaports, and transportation networks.
  • Diverse Business Opportunities: Dubai offers a diverse range of business opportunities in various sectors, including finance, technology, real estate, and tourism.
Read Also This - Can I Start A Business With No Money In UAE

How can i Set up a Business in Dubai?

The process of setting up a business in Dubai involves several steps, including the following:

  • Choose a Business Activity: The first step is to choose a business activity and determine the legal form of the company. The most common legal forms for foreign investors are Limited Liability Company (LLC), Branch Office, and Free Zone Company.
  • Obtain a Trade Name: Investors must obtain a trade name for their company from the Department of Economic Development (DED).
  • Obtain Initial Approval: Investors must obtain initial approval from the DED, which involves submitting a business plan and other required documents.
  • Lease Office Space: Investors must lease office space in Dubai for their business operations.
  • Obtain Licenses and Permits: Investors must obtain the necessary licenses and permits from relevant authorities such as the DED, Dubai Municipality, and the Dubai Chamber of Commerce.
  • Open a Corporate Bank Account: Investors must open a corporate bank account in Dubai to conduct business transactions.
  • Register for Value Added Tax (VAT): Companies in Dubai are required to register for VAT if their annual revenue exceeds AED 375,000.

Conclusion

The Golden Visa program and business setup in Dubai provide excellent opportunities for foreign investors and entrepreneurs. By setting up a business in Dubai, investors can benefit from the city's strategic location, business-friendly policies, and advanced infrastructure. Moreover, the Golden Visa program provides long-term residency in the UAE, which is a significant benefit for those who wish to establish their roots in the country. With the right planning and execution, investors can reap the benefits of investing in Dubai and secure a bright future for themselves and their families.

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