The Ultimate Guide to Obtaining an Investor Visa in Dubai
Dubai, known for its thriving economy and business-friendly environment, offers numerous opportunities for entrepreneurs and investors. With the growing demand for investment in the region, the government has implemented policies to make it easier for foreign investors for business setup in Dubai. One such policy is the investor visa, which allows foreign investors to reside and conduct business in the UAE. In this article, we will explore the investor visa in Dubai and everything you need to know about obtaining one.
What is an Investor Visa in Dubai?
An investor visa in Dubai is a type of residency visa that is granted to foreign investors who invest in the UAE. The investor visa is a significant benefit for entrepreneurs and investors as it allows them to live and work in the UAE without the need to exit the country every few months to renew their visa.
Who is eligible for an Investor Visa in Dubai?
To be eligible for an investor visa in Dubai, you must meet the following requirements:
Investment amount: You must have an investment of AED 10 million or more in a UAE-based company. The investment can be in the form of cash or assets.
Business activity: Your investment must be in one of the following sectors: real estate, industry, agriculture, or services.
Ownership: You must own at least 60% of the shares in the company in which you have invested.
Validity: Your investment must be valid for at least three years from the date of the application.
What are the Benefits of an Investor Visa in Dubai?
The investor visa in UAE comes with several benefits that make it an attractive option for foreign investors. Some of the benefits include:
Residency: The investor visa allows investors to live and work in the UAE without the need to exit the country every few months to renew their visa.
Business opportunities: The investor visa allows foreign investors to explore business opportunities in the UAE and expand their business in the region.
Family sponsorship: The investor visa also allows investors to sponsor their families, including their spouse, children, and parents, to live in the UAE.
Bank account opening: With an investor visa, foreign investors can easily open a bank account in the UAE, which makes it easier to conduct business transactions.
How to Obtain an Investor Visa in Dubai?
Obtaining an investor visa in Dubai can be a time-consuming process, but with the right guidance and support, it can be a seamless experience. Here is a step-by-step guide on how to obtain an investor visa in Dubai:
Step 1: Establish a UAE-based company
The first step in obtaining an investor visa in Dubai is to establish a UAE-based company. You must invest a minimum of AED 10 million in the company, and your investment must be valid for at least three years from the date of the application.
Step 2: Apply for Initial Approval
After establishing a UAE-based company, you must apply for initial approval from the Department of Economic Development (DED). The initial approval is a no-objection certificate that confirms that the investor is eligible for a residency visa in the UAE.
Step 3: Apply for Entry Permit
Once you receive the initial approval, the next step is to apply for an entry permit. The entry permit allows you to enter the UAE and begin the process of obtaining your investor visa.
Step 4: Medical Test and Biometrics
After arriving in the UAE, you must undergo a medical test and provide your biometrics. You will also need to obtain a UAE ID card.
Step 5: Apply for Investor Visa
Once you have completed the above steps and have received approval from the relevant authorities, you can proceed with applying for the investor visa. Here are the steps you need to follow:
Fill out the visa application form – You can obtain the visa application form from the official website of the General Directorate of Residency and Foreigners Affairs (GDRFA). You need to provide your personal details, passport information, and the purpose of your visit.
Submit the required documents – Along with the application form, you need to submit the following documents:
- A copy of your passport and UAE entry permit
- A passport-sized photograph
- Proof of your investment in the UAE (as mentioned in Step 2)
- Bank statements
- Health insurance policy
- Medical fitness certificate
Pay the visa fee – The fee for the investor visa varies depending on the duration of the visa and the issuing authority. You can pay the fee online or through authorized centers.
Wait for the visa approval – The processing time for the investor visa can take up to 15 days. Once the visa is approved, you will receive an email or SMS notification.
Collect the visa – You can collect the investor visa from the GDRFA office or through authorized centers.
Obtaining an investor visa in Dubai can be a complex process, but it can be made simpler with the help of a professional visa consultant. With the right guidance and support, you can successfully obtain your investor visa and enjoy the benefits of living and investing in Dubai. It is important to remember that while the visa is valid for up to three years, you need to renew it before it expires if you wish to continue living in the UAE.