The UAE resident visa is called Emirates ID. This is a plastic card with an embedded chip that contains information about the holder, fingerprint, and photograph. Today, the most popular reason for obtaining residency is the registration of a startup or investment.
Opening a company in Dubai provides a unique opportunity to obtain registration and a visa to the UAE. One of the most attractive options for foreigners wishing to reside permanently in the UAE is to open their own company in Dubai.
Obtaining a residence permit in the UAE has many advantages for foreign citizens. One of the main ones is the opportunity to freely live and work in the country. Registration also gives you access to high-quality medical services and education, which are among the best in the world.
Another advantage is the opportunity to own real estate in the UAE, which can be a profitable investment or an additional source of income.
READ: Understanding Free Economic Zones: Business in the UAE
Before opening a company in Dubai, you should decide on its type. There are several types of organizations in Dubai, each of which has its characteristics and requirements.
LLC (Limited Liability Company) is one of the most common forms of organization in Dubai. It requires at least one founder and can have from 2 to 50 founders. Flexibility in management and the absence of a minimum authorized capital make it attractive.
FZ (Branch of a Foreign Company) is another popular form of organization in Dubai. It allows foreign companies to expand their activities in the UAE by opening branches in Dubai and operating within the country.
Opening a company in Dubai requires compliance with certain legal standards. It’s important to keep a few key points in mind. First, you need to partner with a local sponsor, which can be an individual entrepreneur or a company, depending on the type of business you have.
Choosing the right type of activity and the appropriate license is key. It is important to decide what kind of activity your company will conduct and choose the appropriate license. Dubai provides different types of licenses, including professional, commercial, and industrial, each of which is intended for a specific type of activity.
READ: Four Scenarios for Investing in the UAE Real Estate: Plan Your Purchase
The first step in the procedure for obtaining a residence permit through a startup is determining the type of legal entity. In a SEZ, this may be a limited liability company (FZ LLC), a free zone company (FZ Co.), or a free zone company (FZE). Minimum capital requirements depend on the legislation of each SEZ. For example, in the free zone of Dubai Airport, you can create FZ Co. with a minimum authorized capital of 1000 dirhams, while the creation of an FZE in Hamriyah will cost 150,000 dirhams
The company’s trade name must not be previously registered, violate public morals, or contain a reminder of a religious community or authority.
The license can be purchased from the Dubai Department of Economic Development or the administrative office of the SEZ.
The size of the office depends on the number of people who will work there – the room can occupy up to 30 m2 or be an autonomous building with several floors. Office rental documents are signed by a businessman personally during a visit to the UAE. Today it is impossible to select a room remotely.
The dossier required for pre-approval and registration of the company is submitted by the applicant to the DED (Dubai Economic Development) office if the company is registered on the mainland or to the DIC (Dubai Internet City) for firms in the SEZ. To sign the documents necessary to register a company, a businessman must also be present in person in the UAE.
After receiving a license, the owner or manager submits an application to the FEZ department of a particular emirate for an immigration card (Establishment Card).
READ: Risk Assessment for Business in Dubai: Business in the UAE
You can obtain information on applying for a visa on the official websites of economic zones or when visiting the municipality. In addition to the relevant free zone authorities, some business sectors are additionally regulated by government authorities. On average, relevant organizations consider the request within 48 hours.
