Dubai is where the future unfolds. The emirate is the crossroads of the world, with around two billion people, and connects the majority of the world’s population within eight hours.
Apart from being a fast-growing business hub, Dubai is home to one of the world’s busiest international airports and one of the world’s major container ports. Dubai is a lynchpin for international trade, commerce, and culture.
So, it’s only natural to have the investors flocking to the world’s capital for ambition. Dubai’s fast-growth market, world-class infrastructure and business-friendly environment make it ideal for entrepreneurs and investors. Let’s take a look at how hassle-free it is to get an investor visa in Dubai, explained by the professionals at Damaar, the top business setup consultant in Dubai.
What is the Dubai Investor Visa?
The Dubai investor visa, also known as a partner visa, is a residency visa given to people who wish to invest in or start a business in Dubai. This visa allows them to live and work in the city legally. It also gives them the option to bring their immediate family members, so they can live together in Dubai.
Many people choose this visa because it opens the door to doing business in one of the world’s most vibrant markets. In addition to business opportunities, visa holders enjoy a high standard of living and excellent infrastructure.
Who Can Apply for an Investor Visa in Dubai?
Not everyone can apply for this visa. To be eligible, you need to meet certain conditions. The UAE government requires investors to either buy shares worth at least AED 2 million in an existing business or start a new company with a capital of at least AED 2 million.
This rule makes certain that only serious investors who can contribute to the local economy are eligible to receive the visa.
What are the Eligibility Criteria and the Required Documents
You will need to submit several documents to show you are eligible for the visa. These include proof of investment in Dubai and evidence that you have enough financial means to support yourself in the city.
Other required documents includes a medical test report and a police clearance certificate. These documents are important to confirm that the applicant is in good health and has no criminal background.
Validity of the Investor Visa
The length of time your investor visa also depends on the type of investment you make.
- For property investments, the visa is valid for 2 to 5 years.
- If you invest in a company, it is usually valid for 2 years.
- The golden visa can be valid for 5 to 10 years, depending on the category.
Steps to Apply for a Dubai Investor Visa
1. Submit Your Visa Application
The first step is to get your visa application typed at an approved typing centre. You need to make sure all information is correct. If you own at least 25% of a business, you can apply for a partner visa.
Bring all necessary documents for identity verification. Once the immigration office reviews and approves your application. Then they will send you an email confirming their approval.
2. Complete the Change of Status
After you receive approval, you must finish the change of status process. Wait for confirmation from the General Directorate of Residency and Foreigners Affairs Dubai (GDRFA). Once you get this, complete the final steps at an approved typing centre.
If you prefer help, many business setup consultants can handle this part for you.
3. Attend a Medical Test
As part of the application, you must go through a medical exam. First, you must complete medical typing. Complete the test at an authorized medical centre.
4. Emirates ID Typing
Next, apply for an Emirates ID. This ID is necessary for daily life in the UAE.
The ID process involves fingerprint scanning, depending on your application type.
5. Visa Stamping
Then, get the residency visa stamped on your passport. Visit an authorized centre to do this. Once everything is complete, the immigration department will notify you about the status through SMS.
After this step, you need to share the airway bill number to collect your passport.
Types of Investor Visas
- 2-Year Investor Property Visa
This visa allows foreign investors to stay and work in Dubai for two years. To get this visa, you must own a property in the UAE worth at least AED 750,000. If the property is mortgaged, a NOC from the bank/developer is required, along with the property mortgage statement, and it must specify the entire paid amount and the remaining amount.
- 10-Year Investor Visa (Golden Visa)
This is often referred to as the UAE Golden Visa. To qualify, investors must own a Property in Dubai worth at least 2 million AED. Multiple properties are also
accepted under the applicant’s name.
- 5-Year Investor Visa
If you invest in the real estate sector worth at least AED 1 million, you can apply for a 5-year visa. Again, the investment should not be financed by loans, and it must be held for at least three years.
- 5-year Retirement visa
The UAE offers a 5-year renewable retirement visa for individuals aged 55 and above, who have bought a property worth AED 1 million. In some cases, for those who have worked in the UAE for at least 15 consecutive years. Also you need to own a property in Dubai that is worth at least one million dirhams to obtain this visa.
Costs of the Dubai Investor Visa
The cost of an investor visa in Dubai starts from around AED 4,000. A 2-year visa without medical insurance costs roughly AED 3,500, and with insurance, it is around AED 4,200. Renewal costs about AED 1,750.
There are also fees for the entry permit (about AED 1,000 to AED 1,100), change of status (around AED 670), and visa stamping (about AED 900).
These costs also include charges for the medical exam, Emirates ID, and immigration card.
Benefits of Having an Investor Visa
- There are several advantages to holding an investor visa in Dubai.
- You can legally live and work in the UAE.
- Sponsor your immediate family members/ spouse/children/parents.
- Smooth travel arrangements in Emirates and other GCC countries
- A stepping stone for applying for the golden visa, which offers long-term residency benefits.
Documents Needed For The Investor Visa
- Passport copie(s)
- Recent photographs
- Memorandum of Association (MoA)
- A Valid trade license
- The Immigration establishment card
The Dubai investor visa is undoubtedly the best choice for those who wish to start a new chapter in one of the fastest-growing cities in the world. Even though the application process might seem complex, professionals like Damaar Business Consults can make the whole process a breeze for you.
Read to get your Investor Visa?
