Dubai is desirable for investors and businesses due to its advantageous location, strong infrastructure, and welcoming business community. Nonetheless, securing the necessary visas and residency permits is crucial in starting a business in Dubai. To assist entrepreneurs in navigating this critical component of business formation, this article examines the many visa and residence alternatives accessible for business owners and business setup services in Dubai. It offers comprehensive insights, up-to-date statistical data, and useful examples.
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Types of Visas for Entrepreneurs in Dubai
Dubai offers several visa options tailored to meet the needs of entrepreneurs and business owners. Each visa type has specific requirements and benefits. Here are the main visa categories:
- Investor Visa (Partner Visa)
- Employment Visa
- Freelancer Visa
- Golden Visa
- Dependent Visa
- Visa for Investors (Partner Visa)
The Partner Visa, often called the Investor Visa, is intended for those who invest in businesses located in Dubai. Entrepreneurs who wish to start their firms or invest in already established ones should apply for this visa.
Investors in new or established businesses are eligible. The needed minimum capital investment depends on the firm’s nature and legal framework.
Validity: The Investor Visa has a three-year maximum validity period that can be extended.
Cost: The entire price, which includes Emirates ID, medical exams, and application costs, is between AED 4,000 and AED 5,500.
Procedure: The steps include getting a trade license, applying for a visa, being checked out medically, and getting an Emirates ID.
- Work Permit
Those who work for a Dubai-based firm are granted an employment visa. Business owners need this visa when hiring employees to run their firms.
Employees of a business registered in Dubai are eligible.
Validity: Work permits can be extended and typically last two to three years.
Cost: Each visa, which includes medical examinations and an Emirates ID, costs between AED 2,500 and AED 3,500.
Procedure: The procedure entails signing a work contract, applying for a visa, getting a physical, and receiving an Emirates ID.
- Visa for Freelancers
The freelancer visa is perfect for those who wish to work independently in Dubai without being employed by a particular company. This visa is particularly popular among professionals in the technological and artistic industries.
Independent contractors in various industries, including technology, education, and media.
Validity: The Freelancer Visa has a one-year maximum validity period that can be extended.
Cost: Depending on the free zone and package selected, the price of the freelancer visa might vary from AED 7,500 to AED 20,000.
Procedure: To apply for freelancer permission in a free zone, submit the necessary paperwork, apply for the visa, and get an Emirates ID.
- The Golden Visa
A long-term resident visa called the “Golden Visa” was created to attract business owners, investors, and highly qualified workers. It is a desirable choice for a long-term commitment because it provides benefits for longer residency.
Investors, business owners, and those with unique abilities or specialized knowledge are all eligible.
Validity: The Golden Visa is renewable and has a five-to-ten-year validity period.
Cost: There are variations in the application fees for the Golden Visa. However, they typically fall between AED 10,000 and AED $15,000.
Procedure: To apply, you must fulfill certain skill or investment requirements, submit your application, check your background, and have an Emirates ID and visa.
- Visa for Dependents
When business entrepreneurs relocate to Dubai, they frequently want to take their families. Entrepreneurs can sponsor their spouses, kids, and domestic help with a dependent visa.
Domestic employees, spouses, and kids of business owners with current resident permits.
Validity: Dependent visas typically last for the same amount of time as the visa of their sponsor.
Cost: Each dependent visa, which includes Emirates ID and medical testing, costs between AED 1,500 and AED 2,000.
Procedure: The sponsor must submit the visa application, undertake medical examinations, and provide proof of relationship, adequate income, and appropriate housing.
Useful Advice and Instances
Investor in Tech Startups
An Indian businessman chooses to launch a tech startup in Dubai and contributes AED 300,000 to the venture. They present evidence of their investment and company structure when they apply for an investor visa. Getting an Emirates ID, getting a trade license, and going through medical exams are all part of the visa application procedure. It will set you back about AED 5,500 in total. With the Investor Visa, an entrepreneur may live and operate their business in Dubai for a maximum of three years, with the possibility to extend and pursue new ventures in the thriving tech sector.
Independent Contractor in the Creative Sector
A French freelance photographer wants to operate independently in Dubai. Through Dubai Media City, they apply for a freelancer visa, paying AED 15,000 for the entire package. In the procedure, they must turn in their portfolio and professional credentials and pass a medical checkup. With the Freelancer Visa, they may profit from Dubai’s vibrant market and networking possibilities by lawfully providing their photographic skills to customers around the city.
Real Estate Investor Golden Visa
A British businessman buys many homes in Dubai’s real estate market with an investment of AED 10 million. They satisfy the requirements set out by the UAE government and apply for a Golden Visa. Background checks and medical exams are part of the application procedure, which costs around AED 12,000 in total. With a 10-year residence granted by the Golden Visa, the entrepreneur may oversee their real estate holdings, and experience sustained stability in Dubai.
Retail Business Employment Visa
In Dubai Mall, a Canadian entrepreneur builds a shop location. They must get employment visas for each of the ten employees they hire. The visas will set you back about AED 30,000 in total. Obtaining labor contracts, medical examinations, and Emirates IDs for each employee is part of the procedure. The employees may live and work in Dubai lawfully thanks to their employment visas, guaranteeing efficient corporate operations.
Family Dependent Visa
An investor visa-holding Australian businessman wants to travel to Dubai with their spouse and two kids. They submit applications for dependent visas together with documentation of their relationship, housing, and income. The dependent visas come with a total cost of about AED 6,000. The procedure included giving the family members Emirates IDs and medical exams. The entrepreneur’s family may live in Dubai with Dependent Visas, providing stability and support while they expand their company.
According to the latest statistics from the Dubai Statistics Center, the number of new company licenses in Dubai rose by 4.6% in 2023, indicating the city’s growing attraction to investors and entrepreneurs. In just the first quarter of 2023, more than 42,000 new company licenses were granted, according to the Dubai Department of Economic Development (DED). This spike in company activity emphasizes how crucial it is for entrepreneurs to comprehend and navigate their choices for residence and visas.
Conclusion
One of the most important steps in starting a business in Dubai is figuring out the various visa and residence possibilities. Entrepreneurs may find solutions that best suit their circumstances, and business aims by choosing from multiple visas designed to satisfy certain demands. Every option has different criteria and perks, from the Golden Visa to the Investor Visa.
Through comprehension of these alternatives and utilization of appropriate resources, entrepreneurs may guarantee a seamless shift to living and conducting business in Dubai. Investing in a company, working as a freelancer, or obtaining permanent residency via the Golden Visa—Dubai provides an atmosphere that fosters both personal and commercial success. Check out ProFounders for more information on setting up your business in Dubai.
