If you are looking for the perfect starting point for the rest of your life, Dubai is your ideal destination. Not only is it constantly growing at an impressive pace in all aspects; financial, real-estate, tourism, business and entertainment, but it is also super diverse culturally speaking, so it is surely welcoming for everyone.
Whether you want to move to Dubai by yourself or with your family, Dubai has a place for you.
In addition, Dubai ensures you get the opportunity to have your life established in it thanks to many regulations and policies, one of them being the Dubai Investor Visa.
What is it? And how can you obtain it? Read below to find out.
What is the Dubai Investor Visa?
The Dubai Investor Visa is for foreign nationals who want to start their own business in Dubai or invest in an already existing one. This Dubai investor visa is valid for 3 years, and its holders have the right to live and work in Dubai as well as sponsor their spouse, children, and parents so they can enter the UAE.
The holder of the Dubai Investor Visa, also known as Dubai Partner Visa, is additionally eligible for the following essential services:
- Applying for the Emirates ID card.
- Opening a bank account.
- Acquiring a UAE driving license.
- Signing up for Etisalat or Du mobile and home packages.
It is important to keep in mind that the holders of the Dubai Investor Visa pay domicile tax for the UAE, and stop being taxable by the country of their nationality; however, that is subject to the investor’s home country regulations, so it is essential to be informed and updated about the latter as well.
But how can you obtain this visa?
How to Obtain the Dubai Investor Visa
There are four ways to obtain the Dubai Investor Visa and pave the way for a business, investment, and a living in Dubai, which are the following:
- Visa by Investment in Residential Property
The Dubai Investor Visa can be obtained through investing in residential property that is worth AED 1 million or above, with a maximum of 50% of the property value being under mortgage.
Moreover, you are also eligible to apply for the visa if you are investing in a jointly owned property, and each investor’s share makes up at least AED 1 million.
It is important to note the following:
- The property must be a single residential property.
- The property cannot be commercial.
- You are only eligible for the visa if you are investing in a freehold residential property.
- You cannot apply for the visa if you are investing in an off-plan property.
As for the duration of this visa, it varies from 3 – 5 years, but you are eligible to extend its duration to last for as long as you own property in the country.
If you have purchased a property of AED 1 million or more, the three-year visa is available to you, while the five-year visa is available if you own property worth at least AED 5 million.
- Visa by Investment in a Company
If you are not exactly inclined to invest in residential property, you have the appealing option of investing in a company in Dubai to obtain the Dubai Investor Visa. This can be done through investing in or starting a business either in Dubai’s mainland or its free zones.
These procedures are especially facilitated through 2,100 types of business licenses, which enable you to start a business in the mainland.
However, note that starting a business in Dubai’s mainland requires the following:
- A partner of UAE nationality who will be a majority shareholder, or:
- An agent who will be responsible for liaising with government departments.
But since Dubai is constantly paving the way for you to work and live in it, as it is one of the most attractive cities and destinations globally speaking, complete foreign ownership of companies in Dubai’s mainland is finally possible due to recent changes in regulations, as the requirement of having a majority Emirati shareholder or agent for commercial companies has been cancelled.
So, what grants you this visa?
- It is granted if you own a share that accounts for at least AED 72,000 in an existing company.
- It is granted if you are establishing a company with a capital investment that makes up AED 72,000.
The other good news is that you – as a foreign investor – can invest in companies in Dubai’s free zones without local sponsors or partners; in addition, companies are exempt from taxation, and foreign nationals can have full ownership of the company.
- Long-Term Residence Visa
This visa is surely very tempting and appealing with what it promises: long-term residency. The individuals eligible for it meet an additional set of standards set by the General Directorate of Residency and Foreign Affairs-Dubai.
The selected individuals for the long-term residency have specialized talents; they are scientists and innovators – for instance – in medical, scientific, research and technical fields.
However, if you do not fall into the above-mentioned additional set of standards, you can still obtain a 5 or 10-year residency visa, based on the size of your investment in the country.
The 5-year residency visa is available for:
- Investors investing in a property of a gross value of not less than AED 5 million.
- Entrepreneurs with an existing project of a minimum capital of AED 500,000.
As for the 10-year residency visa, it is available for:
- Investors of at least AED 10 million either through:
- A deposit in an investment fund in UAE, or:
- Establishing a company in the UAE with a capital amounting at least AED 10 million.
- Investors partnering in an already existing or a new company, whose share value is at least AED 10 million.
- Investors having a total investment of AED 10 million in all mentioned-above areas.
- Retirement Visa
This 5-year long visa category is especially dedicated for investors above the age of 55. It is applicable for the following:
- Individuals investing in a property worth AED 2 million.
- Individuals owning accumulated savings worth of AED 1 million.
- Individuals receiving a monthly income of at least AED 20,000.
No matter what category you fall into, it is important to keep in mind that the process of getting the Dubai Investor Visa varies from one application to the other despite all of them aiming to enable you to live and work in Dubai.