Its strategic location at the heart of the business worlds of east and west. Two of the world’s busiest airports putting one-third of the global population within four-hours’ flight time. Zero tax levied on personal and corporate incomes. A booming and diverse economy. When it comes to reasons to do business in the UAE, the list goes on and on.
However these incredible benefits are reserved solely for UAE residents. The good news for overseas entrepreneurs is, applying for UAE residency is incredibly straightforward.
located in the Arabian Peninsula on the Persian Gulf. Made up of seven emirates – Abu Dhabi (the capital), Ajman, Dubai, Fujairah, Ras al-Khaimah, Sharjah and Umm al-Quwain – the country has a population of 9.3 million, around 80% of which are expatriate workers.
The UAE enjoys strong international relations around the world as a member of the UN, OPEC, the Gulf Cooperation Council and the Arab League. The local currency is the UAE dirham (AED) and the official language is Arabic, however English is widely spoken.
Becoming a UAE resident brings with it many advantages – most of which stem from the ability to form a business in the country. UAE residency benefits include:
FAST ACCESS TO RESIDENCY: The full residency process usually takes around a month. However, it is possible to obtain an Entry Permit in a week or two. The Entry Permit allows you to reside in the Emirates while making your residency application.
COMPANY FORMATION: Only residents can establish businesses within the UAE. Form a UAE company and not only are you able to trade in one of the world’s most vibrant economies but you’ll also benefit from 0% corporate and personal tax.
EASY, UNLIMITED RENEWAL: Residency visas are issued for three years after which they can be renewed indefinitely, subject to approval.
A SAFE AND SECURE FUTURE FOR YOUR FAMILY: The UAE residency visa also extends to your immediate family members and dependants, subject to meeting the entry criteria.
To qualify for UAE residency, you must do one of the following:
Purchase real estate – worth at least AED 1 million.
Enter a contract of employment – in this instance, your residency application is handled by your employer.
Establish a UAE company – this is the most straightforward and convenient method of applying for UAE residency. Company formation and visa application usually takes a matter of weeks and you are not formally required to carry out any business activities.
The UAE residency visa application consists of four stages: Entry Permit, Status Adjustment, Medical and Emirates ID Registration, and Visa Stamping. The entire process can take less than a month, during which time you are permitted to reside in the UAE.