Dubai Business Golden Visa for Entrepreneurs (what you must know)

The Business Golden Visa for entrepreneurs offers permanent residency to non-national and non-resident entrepreneurs who wish to set up business operations in the UAE.

Apply for this Visa and stand the 100% chance to enjoy amazing benefits which your home countries might not be giving to your growth.

Requirements

  • Entrepreneurs from within and outside the country (Dubai) are encouraged to apply for this Visa so far they possess competent abilities or experience in their various fields
  • If you have hosted an entrepreneurship program before in your career in any location be it within or outside the country, and you considering of starting a business in UAE, then this Visa is best for you

There are factors to be considered before an applicant can be awarded this Visa;

  • You must be able to prove your experience as an entrepreneur
  • Applicant must have been a member of a start-up’s senior leadership or a major shareholder of it
  • You must agree to shift to the UAE and establish the business legally in any of UAE’s seven Emirates
  • Applicant must make provision for a business plan that he/she wishes to initiate in the UAE
  • In addition, you should fulfill the requirements propounded by the Federal Authority for Identity and Citizenship (FAIC) and consciously agree to a health evaluation and background check

What you must know now!

  • This visa scheme does not require the entrepreneur to make any financial donation to the state
  • A 5-year residence permit will be granted if only the individual invests 5 million AED or more in a UAE property

Read Also: Types of UAE Visa: Cost and Career Opportunities

However, a 10-year residence visa will be granted to successful individuals who have achieved the following requirements below:

NOTE; only one of these options below is applied to the conditions give to an individual before been granted the visa

  • Made a deposit of 10 million AED or more in any UAE-based investment fund
  • Set up a business in the UAE with a capital worth 10 million AED or more
  • Having a share value of 10 million AED or more by partnering with a new or existing company
  • A total investment of 10 million AED or more in any of the mentioned sectors with a condition that investment in sectors (except for real estate) is nothing below 60% of the total investment

Not too fast! Providing all the necessary documents doesn’t ensure successful approval of you getting the Business Gold Visa for entrepreneurs.

But you don’t have to be worried because this is important for the technical scrutiny of your documents.

Why? The documents will have to go through a dedicated committee for review through the FAIC before the visa gets issued to applicants.

If you plan on applying for a Business Golden Visa, which is a part of the Golden Visa system, then you can visit the Federal Authority for Identity and Citizenship electronic platform for the same.

However, it is not guaranteed that an individual will receive the visa solely because he qualifies for a business visa.

The approval to issue a business visa is given by a specialized committee that reviews the application and all the attached documents.

After receiving approval for the business visa, the applicant has to adhere to the rules and procedures set out by the FAIC for the visa to get issued.

BENEFITS

As an applicant of this visa, you stand to enjoy some eye catching benefits which are mentioned below; CHECK

  • You get to enter UAE for a six month period with a multiple entry visa to ease up the procedures of setting up the business and…
  • You can nominate a maximum of 3 senior staff of his business to receive residency

How do you apply for this Business Golden Visa for entrepreneurs?

There are important steps you must follow when applying for this visa and its essential you don’t skip a step because skipping one automatically means opting out;

Step 1– ENTER your email address and create a password to register on www.business.goldenvisa.ae

Step 2– APPLY on the site for the visa. Your application will be reviewed by the authorities and you will receive an email notifying the outcome in 30 days from the time of submitting the application

Step 3– After your application has been approved, you will receive a link via email to upload relevant documents for the visa purpose

Step 4– Your application will then be verified by the authorities following the granting of the Visa

Dubai visa photo requirements (General photo requirements)

  • The photograph must be of 45.0 mm x 35.0 mm dimensions
  • Applicant’s face must cover 70% of the photograph that is 32.0 mm x 36.0 mm
  • Face orientation must be frontal
  • Background must be white without frames and shadows
  • Hats and masks aren’t allowed

Do you know of the Free zones?

Free Zones are startup locations specifically dedicated to new entrepreneurs with or without experience who have successfully secured a Business Gold Visa for entrepreneurs.

These locations are best for training new startups for the future challenges they stand to encounter.

Start a business with affordable packages starting from AED 10000 – 15000 per year (2700 USD – 4000 USD) ‎

Functions

  1. The UAE free zones have not only been a fully-fledged online platform for Global resources but also a front-runner in company formation and business consultancy in UAE for more than a decade
  2. Free zone aids the delivery of entrepreneurs with or without experience in pushing their businesses to next level
  3. The UAE free zones also include a customized advisory service that provides clear guidance to potential investors who are aiming to begin onshore or offshore operations in the UAE
  4. Also, the UAE free zones also saddled with services like;
  5. Business registration
  6. Residency and visa permits
  7. Getting approvals for necessary documents
  8. Banking assistance and office set ups, etc.
  9. The versatile experience of initiating Small businesses programs or larger business along with strategy consulting aids the business take a positive leap towards establishing a business without any hassle

List of Free Zones in the UAE

  • Dubai South
  • International Free Zone Authority
  • Dubai Multi Commodities Center
  • Sharjah Airport Intl Free Zone
  • Sharjah Media City
  • Ras Al Khaimah Economic Zone
  • Umm Al Quwain Free Trade Zone
  • Dubai Airport Free Zone
  • Dubai World Trade Centre
  • Dubai Silicon Oasis
  • Jebel Ali Free Zone
  • Abu Dhabi Airport Free Zone
  • Abu Dhabi Global Market
  • KIZAD
  • Twofour54
  • Industrial City of Abudhabi
  • Dubai Internet City
  • Dubai Academic City
  • Dubai Biotech Research Park
  • Dubai Car & Automotive City Free Zone
  • Dubai Design District
  • Gold and Diamond Park
  • Dubai Healthcare City
  • Dubai Industrial City
  • Dubai Intl Financial Centre
  • Dubai Knowledge Village
  • Dubai Media City
  • Dubai Outsource Zone
  • Dubai Studio City
  • Dubai Techno Park
  • Intl Media Production Zone
  • Hamriyah Free Zone
  • Fujairah Creative City
  • Ajman Free Zone
  • Fujairah Free Zone

Read Also: Dubai Golden Visa: How to Apply for 10-Year Residence in UAE

Why the UAE Free Zones? (Points you must take note of)

Easy setup

  • The initial set up process is very easy in most free zones
  • The application process may vary from one free zone to another and is highly dependent on your business type and activity
  • Basic documents like; business paperwork and passport copies are required

Tax and duty

  • Your establishment stands the chance of benefitting from 0% corporate/personal tax
  • Entrepreneurs starting from the free zone are exempted from the VAT (which is currently at 5% for businesses not in the free zone)
  • The UAE free zone companies can trade without any currency restrictions
  • No compelling to pay the import/export tax

Foreign ownership

  • Own your business without interference from the government or any individuals in the country
  • Entrepreneurs get 100% ownership of their establishments

Trading within the UAE

Through the use of a local distributor, your establishment can get to trade within the UAE mainland and islands.

Support and assistance:

  • Free zone authorities assist throughout set up and continue to do so afterward
  • Many free zones help in applying visas for not only shareholders but also applicable dependents (spouses, family, or domestic staff)
  • You will be able to get access to startup hubs and growth initiatives to give your establishment a boost you hope for. (Reference)

Related post: Dubai Golden Visa Requirements (Cost, Duration, and Eligible Groups)

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