The UAE has made significant investments in luring foreign investors and talented and experienced individuals interested in coming to the Middle East and acquiring a Dubai investment visa. It has emerged as a leader among the Gulf Cooperation Countries (GCC) in recent years.
When the UAE government launched the citizenship by investment program in 2021, one of the most significant developments occurred. Allowed foreigners to apply for UAE passports without having to pass through some of the most demanding conditions enforced on a global scale.
Our immigration attorneys in Dubai will outline the essential requirements of this new programme from the standpoint that the majority of foreigners choose Dubai.
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Dubai Citizenship Investment Programme
Foreign nationals who wish to launch their own company or make investments in an existing company in Dubai may do so with the help of the Dubai Investor Visa, also known as the Dubai Partner Visa. For the period of the visa, the holder of the Dubai investor visa is permitted to live in the United Arab Emirates and travel in and out as they please.
In contrast to other nations, the United Arab Emirates does not require foreign nationals interested in gaining citizenship by investing in Dubai to submit any applications because the candidates will be chosen by the Executive Councils, Rulers, and Crown Prince Courts.
The primary types of foreign nationals who seek to apply for UAE citizenship through investment are listed below:
- Medical professionals, authors, artists, and scientists.
- The main nominee and his or her immediate family are included in the programme since these are eligible to immigrate to Dubai with their families.
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Particular Groups of Immigrants are Eligible to Immigrate to Dubai and obtain Citizenship Through Investment-
A particular type of foreigners who already reside in the UAE may apply for a Dubai investment visa under recently modified legislation. Which are:
Investors who own property in any Emirate; professionals in the medical, scientific, and engineering disciplines with more than 10 years of experience; creators with at least one patent recognised by the UAE government; and artists and other creatives with at least one international honour.
In the application for a UAE passport by investment, they may also include the applicants’ spouses and minor dependant children.
the potential for obtaining citizenship through investments in Dubai-based businesses
Dubai has always been welcoming to foreign investors interested in starting their businesses in the United Arab Emirates, but thanks to the new immigration rules, things have gotten even better. Instead of only being able to own a 49% stake in a company based in Dubai, foreign investors can now fully own one.
Many business owners recall that this option was formerly exclusively available in Dubai-free zones. Foreigners with real estate holdings and entrepreneurial aspirations can seek citizenship through investments made through Dubai-based firms and secure a Dubai investment visa.
This is a fantastic option for businesspeople looking to invest their way into UAE residences while making good money in one of the most important business centres in the Middle East.
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Dubai Citizenship Investment Programme
Foreign nationals can choose between residence and citizenship by investment in Dubai if they want to relocate or obtain UAE citizenship by investment. The primary distinction between the two is that while there are no limitations on who can apply for residency, candidates for citizenship in Dubai are chosen by the Executive Council, Ruler, or Crown Prince Courts.
These are not the only investment criteria for the Dubai residency programme
- Public investment in diverse assets totalling at least 10 million AED, or almost 2.3 million USD
- Purchase of real estate with a minimum value of 1 million AED, or around 273,000 USD;
- Starting a business, which may entail investing in a project with a minimum capital of 500,000 AED.
For the primary applicant and their immediate family, each investment option offers long-term UAE residency in exchange for an investment, followed by citizenship for those who are interested.
Applicants for citizenship by investment based on Dubai-based businesses also have a variety of residency possibilities.
The investment visa for Dubai (Dubai Citizenship Investment Programme)
The Dubai investor visa often referred to as the Dubai partner visa, is available to foreign citizens who desire to establish their businesses or invest in an already established company in Dubai. For individuals who choose to relocate here, the citizenship by investment program of the UAE offers more choices. They include:
- Long-term residence
- Real estate investment.
One of the more intriguing options, given that the program primarily targets investors, is citizenship by investment through the establishment of businesses in Dubai.
This visa, also known as the Dubai partner visa, is a fantastic option for international nationals looking to start their enterprises in Dubai or invest in an already established corporation.
Dubai’s Requirements for Investor Visas
Only those who create companies with a capital investment of at least AED 72,000 (about USD 20,000) or who buy shares in an existing company for a minimum of AED 72,000 are qualified for this visa, according to Dubai’s investment visa laws.
The following papers must be ready when applying for this visa:
- a copy of your passport and a current photo;
- Evidence that you have paid the minimum amount required to buy shares or make a capital investment (such as a bank statement showing the amount);
- Copy of the business licence for the firm.
If the investor brings their family with them to Dubai, they must additionally present the dependents’ identification documents.
One crucial factor to take into account is that one has the option of investing in a business in Dubai (a sponsor is necessary) or in a Dubai-free zone (no sponsor is required in this case).
What does getting a partner visa in Dubai entail?
The procedures for obtaining a spouse visa or Dubai citizenship are not all that dissimilar. The applicant must visit the immigration office and apply for admission permission in the second scenario. Following a medical examination, a health certificate must be obtained, and the last step is to apply for an Emirates ID. The visa holder must then purchase health insurance as well.
For people moving with their families, the same process will be followed.
Dubai’s investor visa’s duration of validity
Among the long-term residency visas offered in the UAE are the 10-year and 5-year visas for investors in Dubai. A 3-year visa was recently added to the programme, but the first two options are still in demand.
The primary prerequisite for an investment visa is starting a business in the United Arab Emirates with a capital investment of AED 10 million (about USD 2.7 million) or joining an existing business as a partner with a share purchase of AED 10 million. Real estate acquisition for half of this amount is necessary for a 5-year visa.
Conclusion– Investment-based citizenship in the UAE was introduced in 2021. It represents a significant departure from the GCC norm of only granting foreign nationals visas and residence permits, never citizenship. Numerous entrepreneurs and talent who are interested in learning how to obtain Dubai citizenship have praised the Dubai Citizenship Investment Programme since its launch.
The United Arab Emirates seeks to entice investors who can boost the UAE economy as well as unique skills. The decision on who qualifies for UAE citizenship will be made by the cabinet, executive councils, and local courts.
The law has been changed, according to vice president and prime minister Sheikh Mohammed bin Rashid Al Maktoum, to “seek to attract talents that contribute to their development journey.”