UAE Fine Living: Shuraa: UAE Residency for Indian entrepreneurs
Three ways Indian citizens can acquire a UAE residence permit
The UAE is a popular destination among Indians for business and residency. Which is why, Dubai has been home to Indians for several decades, by way of employment, investment, and entrepreneurship. Residing in the UAE requires having a residence visa. It is the official permit granted to foreign nationals, allowing them to live in the country for extended periods. Residence visas in Dubai are issued by the General Directorate of Residency and Foreigners Affairs (GDRFA) and are valid for anywhere between two to 10 years.
There are three ways through which Indian citizens can acquire a UAE residence permit.
1. Business formation
The UAE government grants five- or 10-year visas (Golden Visa) to Indian entrepreneurs in recognition of their contribution to furthering the UAE economy. Entrepreneurs, however must meet the investment criteria set by the government to be eligible for the Golden Visa.
Another category is the investor visa. By forming a company in Dubai, Indian entrepreneurs can apply for three-year investor visas and sponsor their family members for three-year UAE residency as well.
2. Investment in property
Dubai is a famous destination for real estate investment, and investing in a property worth at least Dh1 million makes you eligible for a three-year residency permit. However, property investors are not allowed to work in Dubai or the UAE.
3. Employment
Gaining employment with a company in Dubai can grant you a two- or three-year UAE residency, depending on the jurisdiction in which the company operates. However, the company will be responsible for applying, sponsoring, and renewing your residency visa.
How do Indian entrepreneurs benefit from UAE residency?
● Seamlessly start any business in the country
● Open personal bank accounts, apart from a corporate/salary account
● Sponsor dependents
● Strategic location provides close proximity to home country with global connectivity
● Buy and own property in the country
● Multiple entry into UAE during visa validity
● Live and thrive in the world’s second safest country
— The author is Country Head for Shuraa Business Setup’s India Operations