Residence Permit in the UAE advantages
A residence permit is also called a UAE resident visa. A residency permit gives the right to stay legally in the jurisdiction, study, work, do freelance work or even start a business in the region. It is also issued in cases where the applicant wishes to stay in the jurisdiction permanently, including the possibility of obtaining UAE citizenship in the future.
The UAE residence permit gives you the right to live and conduct any activity in the country where it exists:
- a stable and highly developed economy;
- the opportunity to have virtually all the rights of the country’s citizens, except for political rights as well as rights to social
benefits; - many options for a profitable business;
- a well-developed banking system and a wide range of banking products;
- well-thought-out infrastructure;
- many recreational opportunities, including luxury stores, restaurants, resorts, etc.;
- the ability to move freely within the jurisdiction and conduct business;
- the actual capability to move your family members by providing a certain income.
Prifinance lawyers are ready to advise you more in detail on the possible benefits of obtaining a UAE residence permit and offer no less favorable alternatives.
How to get a residence permit in the UAE?
The state provides several options for obtaining residency in the UAE in 2022:
- You can obtain a residence permit in the UAE by buying real estate. The easiest option for obtaining a residence permit in the region is to acquire real estate in the area worth at least 1,000,000 dirhams (about 250,000 U.S. dollars). In this case, the owner of the property can rent it. Conditions for the purchase of real estate vary by region. Prifinance lawyers are ready to advise you on the available options and the possibilities for their implementation.
In the UAE, a residence permit for the purchase of real estate is issued based on the following documents:- original and copy of passport;
- contract on the purchase of the real estate;
- a certificate of confirmation of the applicant’s state of health;
- proof of health insurance;
- police certificate of no criminal record;
- a bank statement, which ensures the applicant’s income;
- three passport-size photos.
- You can obtain a residence permit in the UAE by starting a business. A diversified option allows investment in the UAE directly and in special economic zones. The UAE provides more than 2,000 options for business. You can get a UAE residence permit by investing 70,000 dirhams (about $20,000). The two most common ways are the purchase of company shares as well as the formation of the share capital of a legal entity.
Obtaining a residence permit in the UAE by opening a company requires a business partner who is a resident of the UAE, as well as the majority shareholder of the company. In some cases, the UAE government approves 100% foreign ownership, for instance, in free economic zones, where it is allowed. Prifinance lawyers will be happy to advise you more in detail on all the nuances of doing business and obtaining a UAE residence permit for upcoming investment. The process and features of starting a company with a foreign investor vary depending on the case’s specifics.
- Residence and Work Permits in the UAE. Applicants can obtain legal grounds to stay in the UAE for employment purposes. In this case, a favorable decision depends on both the applicant and the hiring company. To obtain a residence permit in the UAE, the following documents and data should be submitted:
- identification data of the employee, including Emirates ID;
- information about the company ( the types of activities, the presence of a valid license, etc.);
- proof of education of the employee;
- the contract between the employee and the company;
- employment authorization from the Ministry of Labor;
- proof of income in a certain amount (varies depending on the specialization and position of the employee);
- health certificate of the employee.
- The remote worker residence permit. A separate flexible visa option for applicants has the main task of promoting the growth of start-ups. It is issued for one year if the criteria are achieved:
- providing a valid employment contract of 1 year or more;
- having a wage income of more than $5,000 per month;
- providing a bank statement.
You also need to provide public documents for the application, including your passport and relevant certificates. Prifinance lawyers are ready to help with collecting and processing documents for review.
- Residence permit for retired people. An option designed specifically for investors who are over 55 years old. It is issued for five years to those applicants who:
- have invested at least AED 2,000,000 in the property, have total savings of AED 1.000.000, or have a monthly income of 20,000 dirhams.
Prifinance lawyers are ready to advise you more in detail on how to get a residence permit in the UAE – which option will be most acceptable for you and the easiest to implement. Our lawyers will also calculate how much a residence permit costs in the UAE, taking into account all peculiarities of your case.
How Prifinance lawyers can help
Suppose you are planning to start a business, move to the UAE, buy real estate, or establish your presence. In that case, the Prifinance lawyers are ready to advise you on what a residency permit in the UAE entails and how to obtain one in your particular case. Among other things, the lawyers are ready to provide legal support in the following areas, particularly in:
- considering the feasibility and probability of obtaining a residence permit in the UAE;
- purchasing of real estate or opening a business in the region;
- ollecting and executing the necessary documents;
- conducting on your behalf all negotiations with representatives of local authorities;
- helping with any situations that may arise during your stay in the UAE in the future.
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