Dubai is the largest and most populous city in the United Arab Emirates. It is an independent jurisdiction and constitutes a business center in the Middle East. Oil revenues helped accelerate the development of the city, which was already a major commercial center. As a growth hub for regional and international trade since the early twentieth century, Dubai’s economy is based on income from trade, tourism, aviation, real estate and financial services. In addition, it has become a major access point because of the confidence and security that banks offer today. As you make your business setup in Dubai you can have the smartest options available there.
What residency programs are offered in the UAE?
The most popular way to obtain a residence in Dubai is by registering a business in the Emirate or in one of the many free zones operating in the UAE. If starting a business on land requires a local partner, registering a business in the UAE Free Zone provides full ownership of the business. This type of residential visa allows foreign citizens to be shareholders in a local company and also to hire employees, depending on the size of office space they rent, which must be within the free zone premises.
The validity of an owner or investor visa obtained by incorporating a company in the UAE is three years and may be renewed upon expiration, provided that the company remains in good condition.
Residence through the acquisition of a property in Dubai
Another way to obtain a residence permit in Dubai is to buy a property. The condition of obtaining a residence through this means is to purchase a title deed at no charge of at least 1 million AED approximately 275,000 USD. A residence visa obtained in this way has a validity period of 2 years and does not entitle you to work in the Emirate. However, the main advantage of this option is that owners are not required to register a company in Dubai. Dubai is the largest and most populous city in the United Arab Emirates. It is an independent jurisdiction and constitutes a business center in the Middle East.
What are the benefits that investors and business owners can get with this type of residence?
The UAE is a very comfortable, attractive place to live and do business, so obtaining a residence permit in this jurisdiction is a very common choice among businessmen from all over the world. Obtaining a UAE residence visa provides a considerable number of benefits and opportunities. Those who have a residence permit are allowed to work and stay in the UAE without interruption and without having to leave the country for a period of time as long as the visa remains in force.
A residential visa received in Dubai, or other UAE also provides the opportunity to apply for residential visas for direct family members: spouse and or children under 18 years of age. Having a Dubai residency visa does not involve any additional tax consequences on the part of the United Arab Emirates, like income tax and corporate taxes do not apply to individuals or institutions with tax resident status in the United Arab Emirates. The UAE offers opportunities to legitimately reduce the overall tax burden of any high net worth individual. This is due to international double taxation agreements between the United Arab Emirates and various countries, and the fact that the US does not apply any form of direct taxation.