Dubai’s Golden Visa program has opened up new avenues for international entrepreneurs and investors seeking to establish their businesses and contribute to the growth of the United Arab Emirates (UAE). This exclusive initiative not only provides long-term residency but also offers numerous benefits for individuals with specialized skills. In this comprehensive guide, we will walk you through the process of setting up a business in Dubai and obtaining the coveted Dubai Golden Visa, while highlighting specific eligibility criteria for investors, entrepreneurs, and specialists. SAT Corporate Service, a trusted business setup firm in Dubai, is here to assist you every step of the way. Let’s dive into the details.
Investors:
The Golden Visa Dubai is an excellent opportunity for investors who wish to establish their presence and contribute to the UAE’s economy. To be eligible as an investor, the following criteria must be met:
- Make a minimum investment of AED 10 million in a new business venture within Dubai.
- Ensure that the investment is not in the form of a loan.
- Commit to retaining the investment for a minimum duration of three years.
Entrepreneurs:
Entrepreneurs play a vital role in driving innovation and economic growth. The Golden Visa Dubai caters to entrepreneurs who are eager to establish and grow their businesses in the UAE. To qualify as an entrepreneur, the following requirements apply:
- Possess ownership of a business valued at a minimum of AED 500,000 or acquire approval for funding of an equivalent amount.
- Showcase proof of successful business ventures or patents recognized and acknowledged by the UAE authorities.
- Obtain an endorsement letter from an accredited business incubator or an authorized government body within the UAE.
Specialists in Key Sectors:
The Golden Visa Dubai program also recognizes individuals with specialized skills and expertise in key sectors vital to the UAE’s development. If you fall within this category, you may be eligible for the Golden Visa. The key sectors include:
- Medical professionals and researchers.
- Scientists spanning diverse fields.
- Innovators operating in areas of priority aligned with the UAE’s vision.
- Exceptional students with outstanding academic achievements.
- Accomplished executives with a proven track record of leading successful companies.
Setting up a Business:
Before applying for the Dubai Golden Visa, it is crucial to set up your business in Dubai. The process involves the following steps:
Choose the Right Business Structure:
Dubai offers various business structures, such as Free Zone Company, Mainland Company, and Offshore Company. Each structure has its own advantages and requirements. SAT Corporate Service can help you determine the most suitable structure for your business based on your goals, industry, and target market.
Fulfill Legal Requirements:
- Free Zone Company: Select a Free Zone that aligns with your business activities, submit the required documentation, and obtain the relevant licenses and permits from the respective Free Zone Authority.
- Mainland Company: Comply with the regulations of the Department of Economic Development (DED), secure a local sponsor (if necessary), and obtain necessary approvals and licenses from DED and other relevant government departments.
- Offshore Company: Register your company with the appropriate offshore jurisdiction, meet the legal requirements, and obtain the necessary licenses and permits.
Documentation and Registration:
Gather the necessary documentation, which typically includes passport copies, visa applications, business plans, Memorandum of Association (MOA), Articles of Association (AOA), lease agreements, and other relevant paperwork. SAT Corporate Service will assist you in preparing the required documentation accurately and efficiently.
Obtaining the Dubai Golden Visa:
Once your business setup is complete, you can initiate the process of obtaining the Dubai Golden Visa. The steps involved are as follows:
Visa Application Process:
Determine your eligibility category (investor, entrepreneur, or specialist) based on the criteria mentioned earlier. Prepare the necessary documents, including proof of business ownership, financial statements, trade licenses, and endorsement letters (if applicable). Submit your visa application through the designated channels and pay the required fees.
Application Review and Approval:
- The relevant authorities will review your application, conduct any necessary background checks, and verify the authenticity of the submitted documents.
- Upon successful verification, you will receive an approval notification.
- Golden Visa Issuance and Benefits:
- Once your visa is approved, you will be issued a residence permit, commonly known as the Dubai Golden Visa.
- The Golden Visa provides long-term residency in the UAE, typically ranging from 5 to 10 years, depending on the category and eligibility criteria.
- Enjoy the benefits of long-term residency, such as business stability, access to healthcare and education facilities, and the ability to sponsor family members.
Conclusion:
Setting up a business and obtaining the Dubai Golden Visa is a transformative journey that opens up a world of opportunities for investors, entrepreneurs, and specialists in the UAE. With SAT Corporate Service as your trusted partner, navigating through the complexities of business setup and visa acquisition becomes seamless. From selecting the right business structure to fulfilling legal requirements, preparing documentation, and guiding you through the visa application process, we are committed to your success. Contact SAT Corporate Service today and embark on your entrepreneurial journey towards business growth and long-term residency through the Dubai Golden Visa program.