New rules- How can entrepreneurs and startup owners obtain a UAE Golden Visa?
As a top choice for entrepreneurs and foreign investors, the UAE has been updating its regulations on foreign business ownership and residency to accommodate those who wish to set up company in Dubai. Just recently there have been updates on acquiring a UAE Golden Visa which grants foreign investors and their families a 10-year residence visa in the emirates.
If you are a foreign investor for a startup business owner who is interested in UAE Free Zone company formation, and your business partners are eligible for a UAE Golden Visa if you meet the following requirements:
- You are an owner or a partner in a startup registered in the UAE under the small and medium enterprises category. The registered startup business should generate annual revenues of not less than $272,250 (AED 1 million).
- You have obtained approval for a startup idea from an official business incubator, the Ministry of Economy, or from a competent local authority.
- You are a founder of one of the founders of an entrepreneurial project(s) that was sold for a total of not less than $1.9 million (AED 7 million). If you have had such business ventures before, you will be entitled to a UAE Golden visa. For this category, the approval of the Ministry of Economy or competent local authorities will be required for projects or ideas.
Additionally, for a 5-year entrepreneur visa, three executives and the applicant can be added to this visa. Meanwhile, investors applying for the 10-year long-term visa can include the spouse and children, one executive director, and one advisor. It can also be extended to include business partners on the condition that each partner contributes AED2 million (approx. US$544,484).
If you are not eligible for this yet, you may ask professionals who offer PRO services Dubai for advice on other options that you may investigate.
Whether you need an office in a business centre Dubai as additional workspaces for your team or you need advice and information on business set up Dubai cost, Austria Business Center offers a range of business solutions and office spaces for rent to meet all your business needs. You may also book serviced offices if you need a meeting room to meet with clients or conduct interviews.