Residence in the UAE a look at the situation with the experts of Trinity Corporate Services
How can you get the Residence VISA in the United Arab Emirates? It is possible to obtain a 2/3-year VISA simply by registering a new Company; the VISA can be requested both for the investors and for the employees. Here’s the guide made by the experts of Trinity Corporate Services.
The 2008 crisis is behind us thanks to a series of responsible actions. It has brought to the Arab Emirates some new rules and positive changes, aimed to guarantee investors and entrepreneurs in their activities.
Ten years have gone by, and all the economic sectors, from tourism and services to trading and manufacturing, have become stronger. The new legislative changes are definitely fostering new opportunities for foreign investors and for all those who want to register their Company in Dubai and the UAE. Slim, simple bureaucracy and zero taxes are encouraging Start-Up Companies to open up their business or multinational entities to open a branch.
Besides its geographical position, which makes exchanges between Europe, the Middle East and Asia easier, Dubai is a business hub that offers straightforward procedures as well as a welcoming attitude to foreigners who want to become residents.
We asked for some advice to an authoritative source, Trinity Corporate Services. Thanks to their expertise we can state that:
- When you register a new company in the UAE, you have the right to apply for the UAE residence visa with a duration of 2 to 3 years, depending on the emirate/free trade zone where you make the application.
- Registration fees are extremely “attractive”, starting from 10,000 USD.
- In the United Arab Emirates, there is no personal income tax or corporate tax.
- The license must be renewed every year, and the Residence VISA every 2/3 years; in order to maintain the residency status, it is sufficient to visit the UAE at least once every six months.
Either you want to relocate to the United Emirates or you want to set up a new business the UAE visa application is part of the whole process and can be obtained through a fast and simple procedure if done under the assistance of experienced consultants.
The UAE residence visa allow you to live in the in the UAE; you can obtain it also for your family members: wife, husband and children under 18.
Basically, the Residence VISA in the United Arab Emirates is a sticker that is applied on the passport. After its release, you can obtain an ID card, too. This ID card is valid in all the Emirates and it is used as a full-fledged identification document inside the country. The ID card is necessary in order to open a bank account, rent a house or to get a phone line.
To maintain the Residence VISA validity, it is necessary to enter the UAE at least once every six months. In case you stay out of the UAE for more than six months you must make another VISA request; the procedure to obtain it depends on the type of VISA and on the Emirate/free zone.
The Residence VISA can be obtained in three different main ways:
- Registration of a Company in the United Arab Emirates. This way allows to take advantages of the ZERO corporate tax environment.
- Employment contract. When a Company hires an employee in the UAE, is required to sponsor the employee and apply for the VISA.
- Real Estate Purchase. A VISA can be requested in case of purchase of a residential property that has been completed – i.e. not under construction – in Dubai or in any other Emirate, and is worth more than a million Dirham (272,255 USD). The validity of the VISA varies according to each Emirate; in Dubai, the Residence VISA has a 2-year validity and can be renewed every 2 years.
The Government in Dubai has recently announced a new law – in force from January 2019 – that grants a renewable 5-year VISA for people older than 55.
In order to request the 5 years VISA, the applicant must make a Real Estate investment of 544,510 USD, or must proof that have 272,255 USD in his bank account, or also a monthly income higher than 5,445 USD. More details are expected to be released soon.
The are a lot of really good reasons to move your business to the UAE; the Government is trying to attract investors, entrepreneurs, and “go-getters” who want to pursue their vision in the next decades.
Dubai Administration’s development plan has been already set until 2070.
In a few words, Dubai is the preferred destination for those who want to develop their business as well as have a very high quality of life.
Some of the goals of the Government as follows: safety, efficient laws, cohabitation among the 200 nationalities, tolerance and happiness. In the last decade, the UAE has been charting a safe and reliable course, which has created many opportunities for trading and cultural activities.
Registering a company and getting a Residence VISA in this country opens up great changes for your business and a better life standard.
Trinity Corporate Services
321 Group – Patrizia Landini