THE UAE RESIDENCY PROGRAM
| Country | United Arab Emirates |
| Region | Middle East |
| Minimum investment | AED 1,000,000 (EUR 250,000) |
| Additional fees from | AED 1,100 (EUR 280) |
| Investment type | Real estate |
| Program type | Residency |
HIGHLIGHTS
The United Arab Emirates, especially Dubai, have become an attractive destination for expatriates. Its international community, vibrant nightlife, warm climate, booming economy and low-tax environment offer ideal living conditions. Thanks to the new residency-by-investment program, you and your family can easily receive a residence permit. The process is extremely fast, taking just 1 week or 1 month depending on the type of permit.
FAMILY
You can include your spouse, as well as dependent children in your application without the need for increasing the investment.
PROGRAM DESCRIPTION
The most important requirement to qualify for residency is that the property you buy needs to be residential and habitable. That is, real estate projects yet to be completed are not eligible, and neither are commercial properties.
You can get two visa types based on your investment. First, you can get a 6-month multiple entry visa. The processing time for this is usually around a week, and it is exempt from most additional fees.
Second, you can apply for a 2-year residential visa. This option takes slightly longer to process (around a month), and there are additional requirements such as proof of financial means to support yourself and your family, as well as a yearly renewable property license.
TRAVEL OPTIONS
Both visa types let you enter and re-enter the UAE an unlimited number of times for their entire duration.
FINANCIAL TERMS
To obtain residency by investment, you have to purchase a habitable residential property for a minimum of AED 1 million (EUR 250,000).
Additional costs include a visa fee of AED 1,100 (EUR 280) for both types of visas, as well as a clerical fee of AED 400 (EUR 100) and an annual property license fee of AED 2000 (EUR 500) for the two-year visa. Please note that the fees quoted here apply to single applicants, and additional costs may apply for your family members. Contact us for an exact quote tailored to your situation.
NEW UPDATE ON THE UAE RESIDENCY PROGRAM
6,000 apply for 5, 10-year UAE visa; are you eligible?
The authority has activated three new services on its portal for visa-seekers.
The UAE has introduced a six-month multiple-entry interim visa for non-UAE residents seeking long-term investment visa in the country.
Those eligible for the long-term visa and currently residing in the UAE can transfer their existing residency permits to investor visa if they fulfil conditions, the government announced on Wednesday.
Investors, experts and talented students who are eligible for the long term visa — ranging from five to ten years — under the Cabinet Decree No. (56) of 2018 can avail of the interim visa to “identify opportunities in their field and make appropriate decisions for them and families”, the Federal Authority for Identity and Citizenship said in a press statement.
The authority said it has activated three new services on its portal: a six-month visa with multiple entry to complete the procedures for residency of an investor, a six-month visa with multiple entry to complete long-term residency procedures for both entrepreneurs and outstanding students, and a six-month visa with a single entry to complete the residency procedures for the talented individuals. Residents can submit their applications on the ICA portal.
The authority revealed that it received about 6,000 applications from investors and entrepreneurs for the long-term visa during the first week of its announcement itself.
Major General Saeed Rakan Al Rashidi, Director General of Foreigners Affairs and Ports, said that there is a great demand for the new facilities as it enhances UAE’s attractiveness as a distinct investment destination. He said the facilities will increase UAE’s economic and social competitiveness, and also promote it as a global destination that offers the right and best environment for investors and capital owners who are looking for the ease of procedures. It will also offer flexibility, freedom of movement and also stability for families and enable them to achieve their aspirations and ambitions.
Al Rashidi said the six-month visa aims at providing those wishing to obtain long-term residency to visit the UAE and to review the facilities provided in various fields and to identify the opportunities available in their field of interest and then study their options and make the most appropriate decision for them and their family members.
The official said the ICA will issue emirates ID to those who obtain interim visa in order so that they can complete their procedures with ease and flexibility. It will also enable them to make use of direct licensing procedures and open bank accounts and property registration and other transactions.
UAE residents who meet the conditions for obtaining long-term residency in various categories can apply for it through e-channels and through their accounts on the system without the need to obtain a 6-month visa. And at the time of the residency renewal, the transfer to the long-term residency system can be requested as per the category to which the conditions apply.
THE CONDITIONS TO BE ELIGIBLE FOR LONG-TERM VISA
Category-1
Investor residency visa for a period of 10 years, under which the applicant obtains a residency permit for 10 years without a sponsor in the UAE. The visa is offered to all family members including wife and children. Up to three domestic workers can be sponsored. There is also a possibility of obtaining residency for one of the senior employees (advisor or executive director) for 10 years with their family members and the possibility of obtaining a multiple-entry visa for a period of six months renewable for a similar period for the purpose of incorporation.
Conditions:
– A deposit of not less than Dh 10 million dirhams in an investment fund in the UAE.
– or to own a company in the UAE with a capital of not less than Dh 10 million.
– or a partner in an existing or new company with a share of not less than Dh 10 million.
– or has a total investment in the country not less than Dh 10 million, provided that investment in non-real estate shall not be less than 60 per cent.
– The amount shall be wholly owned and not a loan.
– To keep the investment at least 3 years from the date of obtaining the residency.
– A creditworthiness with minimum Dh 10 million in case of financial claims or civil judgments.
– Inclusive health insurance document for him and his family members for the duration of the stay.
Category-2
The residency of an investor in real estate under which the applicant obtains a residency permit for five years without sponsor within the UAE, as well as his family members, wife and children, and the possibility of sponsoring domestic workers up to a maximum of 3 workers.
Conditions:
– Own one or more properties in the UAE with a total value of not less than Dh 5 million.
– The property shall be wholly owned.
– To keep the investment at least 3 years from the date of obtaining the residency.
– Inclusive health insurance document for him and his family members for the duration of the stay.
Category-3
Entrepreneurs residency: The owner is entitled to a 5-year residency visa and with the ability to be qualified for having 10-year investors visa, a five-year residency for three executive managers, a five-year residency visa for his family member (husband, wife and children), five-year residency visa for three executive directors, and they have the opportunity to obtain a six-month visa for with multiple trips and with a possibility of renewal for another six months.
Conditions:
– A previous and successful project worth a minimum of Dh 500,000.
– Approval from a certified business incubator in the state.
SHEIKH MOHAMMED ANNOUNCES UAE PERMANENT RESIDENCY SCHEME
The first batch of permanent residence will be given to 6,800 investors.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has launched the ‘Golden Card’ scheme to grant permanent residency benefits to investors, entrepreneurs, specialised talents, researchers, and outstanding students.
We launched a new “Golden Card” system to grant permanent residency to investors and exceptional doctors, engineers, scientists and artists. The first batch of 6,800 investors with Dh100 billion worth of investments will be granted the “Golden Card.”
The permanent residency “Golden Card” will be granted to exceptional talents and everyone who positively contributes to the success story of the UAE. We want them to be permanent partners in our journey. Residents are an indispensable part of our country.
The Golden Card offers unprecedented benefits to the cardholders and their families while creating an attractive environment for business and growth.
“Throughout history, the UAE opened its door to millions of people looking for to pursue their dreams and better their lives. The Golden Card is our way to welcome all those seeking to be a part of the UAE’s success story and making it a second home,” said Sheikh Mohammed bin Rashid.
The new permanent residency initiative has identified the first 6,800 qualified expats from over 70 countries, to benefit from the Golden Card scheme’s unprecedented benefits.
The Golden Card will be granted to qualifying investors, entrepreneurs, professional talents, researchers in various fields of science and knowledge, and outstanding students. The new initiative will attract greater foreign investment and stimulate the local economy, making it more efficient and attractive for investors. It will also increase the UAE’s competitiveness and reaffirms the country’s position as a global incubator.
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