How to Settle in UAE with Family – Choices Available for Expats
The UAE, with its prime geographical location, is a top choice for tourists, businessmen, and expatriates seeking to establish their second home alongside their families. Its allure stems from a combination of factors, making it an attractive and sought-after destination.
What makes UAE a top choice for everyone?
There are numerous reasons why the UAE has become a popular choice for many. Some of these include:
– The UAE offers high-end infrastructure and a luxurious lifestyle at a fraction of the cost compared to European countries.
– Enjoy the benefits of zero personal income tax rates, just 5% VAT, 100% foreign ownership of property and companies, and a business-friendly environment.
– Serving as the trade hub of the Middle East, the UAE boasts a safe and secure banking sector with the presence of international banks, along with hassle-free account opening (currency Arab Emirate Dirham pegged to the Dollar).
– With easy access to markets in 160 countries, the UAE provides well-developed air and sea transport, as well as robust logistics support.
– The UAE also offers geopolitical stability, with extensive government support to promote trade and entrepreneurship.
– Experience a safe and secure lifestyle, with the lowest crime rate in the world, top-notch healthcare facilities, and residents less prone to infections due to favorable weather, hygiene, and food habits.
The UAE government has introduced a range of initiatives aimed at fostering a thriving business ecosystem, boosting the real estate and banking sectors, enhancing the quality of life, and promoting tourism. The UAE is determined to attract a new wave of talented individuals, foster business expansion, and encourage foreign investment through its long-term residence initiatives. A prominent Freezone in the UAE has launched the “FEEL FREE TO GROW” campaign, embodying this vision.
Below are the available options for foreign expatriates looking to settle in the UAE with their families.
1. Investor Visa through Company Formation
Establishing a company in one of the most cost-effective Free Zones in the UAE offers a convenient pathway to acquiring a 3-year Investor Residence Visa. Moreover, the Investor visa holder is eligible to sponsor their family after successfully forming the company and obtaining the owner visa.
3-Year Investor Residency Visa
The Investor Residency Visa, valid for 3 years, can be continuously renewed, giving individuals a sense of permanence in the UAE. However, it’s important to note that UAE does not offer separate citizenship through investment.
In the UAE Free Zones, a diverse range of Company Formation Packages is available to cater to different investor needs. Entrepreneurs have the flexibility to select from various business license types, office setups, visa quotas, and free zone locations, tailored to their specific business activities and budgets.
If you’re interested in finding the right Free Zone and Business Setup Package for your venture, our expert team is here to assist you. Contact us to learn more and make an informed decision.
2. Residence Visa through Investment & Deposits
The UAE offers residence visas to investors who make substantial deposits in a company and become shareholders or invest in entrepreneurial projects within the country. Investors who contribute at least AED 5 Million towards new company formation or entrepreneurial ventures are eligible for a 5-year investor visa. This allows for a seamless blend of investment opportunities and the chance to establish a long-term presence in the UAE.
3. Residence Visa through Property Purchase
Property owners who have made an investment of at least AED 1 Million in designated freehold areas are eligible for a renewable three-year visa. As long as the property remains under the owner’s name, the visa will remain valid. To ensure the visa remains active, the investor must visit the UAE at least once every 180 days. This visa provides all the benefits of living in the UAE, including the ability to apply for a driving license, open a bank account, and sponsor family members, among others. However, it’s important to note that the property residence visa does not grant the investor permission to work in the UAE.
4. Long Term Residence Visa
The Long-Term Residence Visa has emerged as the preferred investment opportunity for foreign expatriates and businessmen in the UAE. Its popularity stems from the visa’s extended validity, providing long-term benefits to its holders.
To obtain the Long-Term Residence Visa in the UAE, certain criteria must be fulfilled. Here are the requirements for securing this prestigious visa.
Eligibility for 10-Year Visa (GOLD VISA)
1. Investment in UAE in the form of Real Estate and Business Setup
To fulfill the criteria, a minimum investment of 10 AED million in the UAE is required, which can be allocated towards real estate and other business ventures.
There are several options for investing, each with a value of AED 10 Million:
1. A deposit of AED 10 Million into the investment fund in the UAE.
2. Forming a company with a capital of AED 10 Million.
3. Establishing a partnership, either with an existing or new company, with a share value of AED 10 Million.
4. Making a total investment of AED 10 Million in the UAE, with 60% of the investment allocated to sectors other than real estate (without involving any mortgage).
These opportunities allow for diversification and exclude real estate as a mortgage collateral.
Requirements for the issuance of the 10-Year Long Term Visa
- The amount must not be loaned
- The investment must be retained for at least 3 years
- Maintaining a financial solvency of up to AED 10 million is crucial.
- Each partner who contributes AED 10 Million has the opportunity to apply for the visa individually.
Long-term visa holders are eligible to sponsor their family, one advisor, and an executive director. Foreign investors can initially apply for a six-month multiple-entry visa to complete procedures and subsequently apply for the long-term visa.
2. People with Specialized Talents
Professionals with expertise in research, innovation, science, medicine, art, and creativity can seize the chance to obtain a 10-year long-term license. This visa privilege extends to their immediate family as well. It is important to note that all job categories necessitate a valid employment contract in the respective specialized field.
To know more, read: Criteria for Long Term Residence Visa
5-Year Long Term Residence Visa in the UAE
The 5-year visa for entrepreneurs, property investors, and outstanding students is another sought-after option.
Eligibility for a 5-Year Visa
1. Investors in a property in the UAE
To be eligible for investment, it is required to purchase residential property in the freehold areas of the UAE with a gross value of AED 5 Million. The property should not be subject to a mortgage and must be held for a minimum of 3 years.
2. Investment in Entrepreneur Projects
Investing AED 5 Million in entrepreneurial projects or accredited business incubators in the UAE offers an alternative for obtaining a long-term residence visa. Initially, a six-month multiple entry visa is granted to facilitate the long-term visa process. Moreover, the investor has the eligibility to sponsor their spouse, children, a partner, and three executives. This opportunity not only provides a pathway to long-term residency but also supports the growth and development of the entrepreneurial ecosystem in the UAE.
3. Outstanding Students
Students who demonstrate exceptional academic achievements are eligible for the 5-Year Long Term Visa. This includes students who have obtained a minimum of 95% marks in both public and private secondary schools. Additionally, university students, both domestic and international, who achieve a distinguished GPA of at least 3.75 upon graduation, can also qualify. Moreover, students who meet these criteria have the opportunity to sponsor their families under the long term visa.
5. Freelance Permit
Freelance visas have been gaining popularity in the UAE recently, with many UAE Free Zones offering affordable freelance permits with visa quotas. This allows freelancers and part-time employees to legally work in the UAE. Freelancing is particularly common in fields such as marketing, IT, and consulting. A freelance permit provides an excellent opportunity to embark on an entrepreneurial journey in the UAE, allowing you to test the market before taking the big step of setting up your dream company.
6. Residence Visa through Employment
For expats who prefer not to start a business or invest in property, an alternative worth considering is seeking employment with a UAE-based company. By securing employment, you can have your visa sponsored by the employer and subsequently bring your family to the UAE. This path is commonly chosen by first-timers to the UAE, allowing them to familiarize themselves with the local market and business environment before exploring opportunities for company formation in the future.
Why should you consider settling in the UAE with your family?
The UAE presents an ideal opportunity to embark on a new chapter in life and establish a thriving business. With its world-class infrastructure and stable economic and business environment, it offers a compelling proposition. Moreover, being part of the flourishing business ecosystem opens doors to abundant opportunities and valuable networking capabilities.
The UAE encompasses all the elements needed to keep your family entertained throughout the year, making it one of the most secure and livable places in the world. The overall business and economic environment in the UAE are highly conducive to long-term growth and sustainability.
If you’re interested in learning more about long-term residence visas and peacefully settling in the UAE with your family, don’t hesitate to reach out to our team of expert business consultants. They will guide you every step of the way.