UAE citizenship or tax residency options to invest

If you’re interested in relocating to Dubai, Abu Dhabi, Ajman or any of the seven emirates, you may have already started thinking about the financial prospects. With recent positive changes to retirement visas, there are more reasons than ever to make the move and invest your money in your retirement.

With business incentives, licensing platforms for freelancers, small businesses, the UAE now presents people from across the globe with various cost-effective ways of starting a business, or investing in the country.

The UAE government has developed funding platforms as well as access to infrastructure needed for specialists to obtain residency while working remotely, or businesses to trade locally or internationally while being based in the UAE.

What are the options?

Investment options include freelance licensing for as low as Dh580, e-trader online license for as low as Dh1,200, 100 per cent foreign ownership for Department of Economic Development (DED) entities - versus previous requirements of 51 per cent local ownership when based outside of a free zone.

Among others are, remote work residency visa for entrepreneurs, the Golden five or 10 years visas for entrepreneurs, remote business setup and notary services, which are only a very few projects and products UAE government has on offer to local and international investors.

Moreover, latest civil law changes as well as a range of changes to social and lifestyle reforms, offer security and safety of one’s residency, as well as savings and assets. These changes are the latest in a series of reforms that have been accelerated in the UAE since the COVID-19 pandemic.

Retire with tax residency?

If Dubai is more to your taste for retirement or a holiday home, you'll be pleased to learn it's not excessively expensive to qualify for residency there. The emirate offers visas to foreign nationals who invest a minimum of $272,000 (nearly Dh1 million) in property.

The UAE does not grant permanent residency to expatriates but only multi-entry residency visas.

For real estate investments lesser than Dh1 million, you are granted a six-month multi-entry residency visa. It is much like having a tourist visa, but with the ability to make multiple entries over a six month period.

Three-year property investor visa is granted for those that invest Dh1 million and more, and for those who invest in property worth over Dh5 million are eligible for a five-year residency visa.

Apart from that there are also three- and five-year multiple entry Dubai property visa that comes at a higher investment cost.

Golden visa is available to those who provide a minimum investment of Dh10 million, but only 40 per cent of that can be in real estate.

Residence by Investment

Residence by Investment (RBI) and Citizenship by Investment (CBI) is a market estimated at $21.7 billion (Dh79.7 billion) and growing by 23 per cent a year – and forecasted to reach $100 billion by 2023 (Dh367 billion).

You can either set up a company or purchase shares of an existing one, but you must own shares with a value of at least Dh50,000. read more

Once you have incorporated your company or purchased shares, the company may sponsor your business visa. This visa will be valid for up to 3 years, with unlimited renewability, as long as you still own capital shares of a company and you visit the country at least once every 180 days.

Once you have obtained the business visa, you can sponsor your relatives, who may apply for a 3-year visa, renewable. You must demonstrate family ties and get at least Dh4,000 per month. read more

As there is no permanent residence visa, this means that every three years you must renew the business visa. Moreover, this visa does not lead you to citizenship.

What has changed now?

Dual citizenship was up until now not an option in the UAE, and to become a citizen, you had to renounce your previous nationality.

The UAE announced in January 2021 that it intends to launch a citizenship by investment programme for selected investors.

The Golden Visa programme will allow foreign residents to establish dual citizenship if the specific requirements are met.

Retirement visa

You need to at least have Dh1 million in savings when applying for a five-year retirement visa in the UAE, and re-apply for the visa every five years if you want to continue in the country, such an amount of savings should be maintained each time you re-apply for the visa. read more

the analysis showed that if you're planning on retiring in UAE, you're going to need over $600,000 (Dh2 million) in the bank to do it comfortably.

BUSINESS SET-UP IN DUBAI
How to renew Trade License in Dubai? Step by step procedures
Trade License Renewal-Dubai
How to set-up a Technical Service Company (LLC) in Dubai?
How to set-up a Cargo Service Company (LLC) in Dubai?
Home business License in Dubai. What is a Trader licence? 
General Trading License in Dubai (Five Minutes Procedures)
Management Skills Placement Test for Consulting License in Dubai
DED Service Centers in Dubai.
Street Vending Truck; mobile business in UAE
ദുബൈയിലെ ബിസിനസ് സാധ്യതകള്‍
+ Free Trade Zones in UAE
14 Business Activities will not get 100% foreign ownership in UAE
Import / Export Code Online Application of Dubai Customs
Dubai Internet City
INVESTOR VISA
MOFA-Ministry of Foreign Affairs-UAE Attestation Centers
Different Types of UAE Visas
ESTABLISHMENT CARD
Immigration Establishment Card-New (Dubai)
Immigration Establishment Card-Renew (Dubai)
Immigration Establishment Card (Computer Card) Amendment
PRO Card: Immigration Department, Dubai
PRO Card - Labour (UAE)
e-DNRD Online Registration (Dubai)
Labour Establishment Card (Computer Card)-UAE
Update Establishment Information at MOHRE
What is WPS (Wage Protection System) in UAE?
EMPLOYMENT VISA
PCC-POLICE CLEARANCE CERTIFICATE
How to transfer vehicle ownership in Dubai, Sharjah & Ras Al Khaimah
How to report accident through Dubai Police App?
How to clear Police or civil cases related to bounced cheques?
RTA 24/7 smart customer service counters
How to register hazardous materials transportation vehicles in Dubai Civil Defence and RTA?
Dubai Traffic fine payments, 7 other services to go fully online
Online Lost Reporting to Dubai Police
How to report bounced cheques in Dubai online
Cheque bounce/Insufficient fund Case Reporting-Dubai
Check Criminal Status of Financial Cases through Dubai Police Website
You can open a Criminal Case with Dubai Police through their Website
Vehicle Inspection Request for Changing Colour: Dubai Police Online Service
Lost & Found Service of Dubai Police: Inquire about the found items online
Traffic Status Certificate from Dubai Police
To Whom It May Concern Letter from Dubai Police; Apply online
+ Impounded Vehicle inquiry and Fees payment; Dubai Police
Heart Disease and People With Disability can register with Dubai Police to get rapid aid
Legalization of PCC from UAE Embassy in New Delhi, India
EMIGRATION CLEARANCE

Visa on arrival in India for Emiratis
Which Type of Indian Visa is Right for You?
India issues Emiratis, expats five-year business visas
SCHENGEN VISA
What is Schengen Visa and What are the Procedures?
INDIAN PASSPORT
Indian Passport Lost Procedures-Dubai
Lost Passport with UAE Visa (inside UAE) Procedures for all Nationalities
Lost Passport with UAE Visa while you were out of UAE (Procedures for all Nationalities)
Indian Passport Renewal in UAE
Online application mandatory for Indian passport applications in UAE
Declaration of parent who is staying out of India to apply Passport for children in India
+ Marriage Certificate Attestation From Indian Consulate
+ Undertaking expense for studies (Affidavit from Indian Consulate)
+ Power of Attorney Attestation from Indian Consulate
+ Death Certificate Attestation from Indian Consulate
Additional Booklet (Indian Passport)
IVS Global Services Pvt. Ltd. (Indian Consulate Attestation Centre-UAE)
+ Indian Embassy in Abu Dhabi, Indian Consulate in Dubai and BLS Passport Centers in UAE
+ What is ECR? Emigration Check Required - Indian Passport
+ Salary/Experience Certificate Attestation from Indian Consulate/ Embassy-Dubai, UAE
+ Indian Consulate Attestation; IVS launches Queue App

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.