UAE: Residency by Investment 2024

UAE Residency by Investment Guide 2024

The UAE's Residency by Investment program offers foreign investors a pathway to secure long-term residency in one of the world's most dynamic and rapidly growing economies. With options starting from AED 750,000, investors can obtain residency in as little as 2 to 3 months. This program provides the benefits of living in a tax-friendly environment, access to world-class infrastructure, and the ability to conduct business in a global hub. Whether through real estate investment or business ventures, the UAE’s program is an attractive option for those seeking stability, security, and global connectivity.

Looking for assistance from Break Front to navigate the UAE Residency by Investment process?

Country Info

Population: Approximately 10 million (as of 2023), with a significant proportion of expatriates.
Economy: The UAE has one of the most diversified economies in the Gulf region, heavily supported by oil and gas revenues, but increasingly focused on sectors like tourism, finance, real estate, and technology. The UAE is known for its favorable tax environment, with no personal income tax and minimal corporate taxes.
Government Type: Federal absolute monarchy, consisting of seven emirates, each governed by its own monarch, with Abu Dhabi being the capital and the seat of the federal government.
Official Language: Arabic, though English is widely spoken and used in business and education.
Geographic Position: Located in the Middle East, bordering the Persian Gulf to the north, Saudi Arabia to the south and west, and Oman to the east.
Currency: UAE Dirham (AED).
Capital: Abu Dhabi, with Dubai being the largest city and a global business hub.
Time Zone: Gulf Standard Time (GST), UTC +4.
Climate: The UAE has a desert climate, characterized by hot summers, mild winters, and minimal rainfall. Temperatures can reach extreme highs during summer.

Life Quality Index

Safety Index: 83.8 (High)

Healthcare Index: 74.2 (High)

Cost of Living Index: 61.7 (Moderate)

Pollution Index: 59.0 (Moderate)

Climate Index: 48.2 (Low)

Traffic Index: 55.4 (Moderate)

Property Price Index: 47.3 (Moderate)

Investment options

The UAE offers several investment opportunities that can lead to residency for foreign nationals. Here are the main routes:

1. Real Estate Investment

Minimum Investment: AED 750,000 (approximately USD 204,000).
Details: By investing in real estate, individuals can obtain a UAE residency visa. The property must be completed (not under construction) and should be worth at least AED 750,000. The visa is typically valid for 3 years and can be renewed as long as the property is retained.

2. Business Investment

Minimum Investment: Varies depending on the business type and location.
Details: Starting a business in the UAE or investing in an existing one can lead to residency. This includes setting up a company in one of the many free zones, where 100% foreign ownership is allowed. The residency visa is usually linked to the company’s operations and can be renewed as long as the business remains active.

3. Long-Term Residency (Golden Visa)

Minimum Investment: Starting from AED 2 million (approximately USD 545,000).
Details: The UAE’s Golden Visa offers long-term residency (5 to 10 years) to investors, entrepreneurs, and specialized talents. Real estate investments, business investments, or substantial deposits in UAE-based funds can qualify for this visa. The Golden Visa provides flexibility and security for investors and their families.

4. Retirement Visa

Minimum Investment: Ownership of a property worth at least AED 1 million (approximately USD 272,000), or savings/income criteria.
Details: Foreign nationals over the age of 55 can apply for a retirement visa if they meet the financial criteria, which include owning property, having savings of at least AED 1 million, or earning an income of AED 20,000 per month. The retirement visa is typically valid for 5 years.

5. Investment in UAE Government Bonds

Minimum Investment: Varies based on the specific bond issue.
Details: Investing in government bonds can be a route to obtaining residency, although the specifics of this option are less commonly pursued and may require significant capital.

Long-term residency (Golden Visa)

The UAE's Golden Visa program offers a long-term residency solution for investors, entrepreneurs, and talented individuals, with a variety of pathways to choose from.

Here are some key details:

Investment Routes

Real Estate Investment:
- Minimum Investment: AED 2 million (approximately USD 545,000).
- Benefits: Provides a 10-year residency visa, which is renewable under the same conditions. Investors can purchase properties using approved local bank loans, and properties can be off-plan or fully constructed.
Business and Public Investment:
- Minimum Investment: AED 2 million in an approved UAE investment fund or as ownership in a UAE-based company.
- Benefits: Investors in public funds or businesses are eligible for a 10-year Golden Visa, allowing for extended residency and business operations in the UAE.
Entrepreneurship:
- Minimum Investment: AED 500,000 in a qualifying project.
- Benefits: Entrepreneurs with innovative business ideas or successful track records can obtain a 5-year renewable residency visa.

Key Benefits:

Long-Term Residency: The Golden Visa offers a 5 to 10-year residency, which is renewable, allowing for long-term stability in the UAE.
No Sponsor Required: Visa holders do not need a local sponsor, offering greater independence.
Family Inclusion: The visa allows you to sponsor your family members, including children and domestic workers.
Flexibility: Holders of the Golden Visa can maintain their residency even if they spend long periods outside the UAE.

The UAE’s Golden Visa is particularly attractive due to its flexibility, ease of access through property investments, and the country's strategic location as a global business hub.

Required documents

To apply for the UAE Residency by Investment program, particularly through the Golden Visa, several key documents and requirements must be fulfilled. Here's a comprehensive list of what's typically required:

Required Documents:

Valid Passport:
- A copy of the applicant's valid passport, which must be valid for at least six months.
Proof of Investment:
- For real estate investments: A title deed or purchase agreement proving ownership of property valued at AED 2 million or more.
- For business investments: A valid trade license, proof of shareholding, or a letter from a UAE-based bank confirming a deposit of AED 2 million.
Health Insurance:
- A valid health insurance policy that covers the applicant and all family members included in the visa application.
Medical Fitness Certificate:
- A medical examination report confirming that the applicant is free from any contagious or serious diseases. This test is typically conducted in the UAE.
Clean Criminal Record:
- A police clearance certificate from the applicant's home country or the country of residence, demonstrating a clean criminal record.
Passport-Sized Photographs:
- Recent passport-sized photographs taken in color with a white background, meeting the UAE's visa photo requirements.
Proof of Residency in the UAE:
- If applicable, copies of any existing UAE residence visa and Emirates ID card.
Family Documents:
- For family members included in the application, such as a spouse or children, relevant documents like marriage certificates and birth certificates are required.
Proof of Income (for certain categories):
- For applicants in categories like skilled professionals, proof of a minimum monthly income (typically AED 30,000) may be required.

Additional Requirements:

Entry Visa:
- An entry visa may be required before the Golden Visa application if the applicant is not already in the UAE. This visa is often a multiple-entry visa valid for six months to allow the applicant to complete the Golden Visa process.
Application Form:
- Completion and submission of the official Golden Visa application form, either online or in person at designated centers in Abu Dhabi or Dubai.
Application Fee:
- Payment of the visa application fee, which varies depending on the specific category and the processing time required.
No Outstanding Debts:
- Applicants must not have any outstanding debts in the UAE, as this can affect the approval of the Golden Visa.

These requirements ensure that the application process is thorough, verifying the applicant’s financial capability, health, and legal standing. Meeting these criteria will enable the applicant to obtain a UAE Golden Visa, providing long-term residency and access to various benefits, including living and working in the UAE without a local sponsor.

For assistance with navigating the application process, Break Front can provide expert guidance to ensure all requirements are met efficiently.

Application process

1. Prepare Required Documents

Gather all necessary documents, including your passport, proof of investment, health insurance, medical fitness certificate, and any relevant family documents.

4. Submit the Application

Submit your Golden Visa application online through the official portal or in person at a designated center in Abu Dhabi or Dubai. Include all required documents and pay the application fee.

2. Obtain an Entry Visa

If you are not already in the UAE, apply for a multiple-entry visa valid for six months. This visa allows you to enter the UAE to complete the Golden Visa application process.

5. Undergo Medical and Security Checks

Complete the medical examination in the UAE to obtain your medical certificate. Additionally, your application will undergo a security check by the UAE authorities to verify your criminal record and other background details.

3. Make the Required Investment

Complete the investment process according to the selected category (real estate, business, etc.). Ensure that all investments are properly documented, with legal proof of ownership or deposit.

6. Receive and Activate Your Visa

Upon approval, you will receive your Visa, typically via email. Collect your residency visa from the immigration office, and if applicable, apply for your Emirates ID card. The visa grants you residency for 5 to 10 years, depending on your investment type, with the possibility of renewal.

Benefits

Long-Term Residency: Provides 5 to 10 years of renewable residency, offering stability and security for you and your family.
No Local Sponsor Required: Allows you to live, work, and study in the UAE without needing a local sponsor, granting greater independence.
Family Inclusion: Extends residency to your spouse, children, and domestic staff, ensuring your entire family can stay together.
Business Opportunities: Enables you to start and own businesses in the UAE’s tax-free environment, leveraging its strategic location and infrastructure.
No Minimum Stay Requirement: You can maintain residency without needing to spend a minimum amount of time in the UAE, offering flexibility for global travelers.
Healthcare and Education Access: Grants access to the UAE’s high-quality healthcare and education systems for you and your family.
Real Estate Investment Growth: Secures your investment in a growing real estate market with potential for capital appreciation.
Global Mobility: The UAE’s strategic location offers easy access to Europe, Asia, and Africa, making it a prime base for international travel.
Potential Pathway to Citizenship: While not guaranteed, long-term residency could be a step towards future citizenship as the UAE evolves its policies for expatriates.

Tax system

The UAE has recently introduced a corporate tax system, which came into effect on June 1, 2023, marking a significant shift in the country's tax landscape. Here’s an overview of the key elements of the UAE’s tax system:

1. Corporate Tax Rates

0% Rate: Applicable to taxable income up to AED 375,000, which is particularly advantageous for small and medium-sized enterprises (SMEs).
9% Rate: Applies to taxable income exceeding AED 375,000. This competitive rate ensures that larger businesses contribute fairly to the economy.

2. Free Zone Companies

Exemptions: Businesses operating within designated Free Zones in the UAE can benefit from a 0% corporate tax rate on qualifying income, provided they meet certain conditions. This makes Free Zones attractive for international businesses seeking tax-efficient operations.

3. Individual Income Tax

No Personal Income Tax: The UAE remains highly attractive for expatriates as it does not impose personal income tax on salaries or wages, allowing residents to retain more of their income.

4. VAT (Value-Added Tax)

Standard Rate: VAT is applied at a rate of 5% on most goods and services, except for those that are exempt or zero-rated.

5. Other Taxes

No Withholding Tax: The UAE does not impose withholding taxes on dividends, interest, or royalties, simplifying cross-border transactions and investments.

6. Compliance Requirements

Registration: Businesses need to register with the Federal Tax Authority (FTA) for corporate tax and obtain a Tax Registration Number (TRN).
Record-Keeping: Companies are required to maintain financial records and submit tax returns annually. Non-compliance with tax regulations can result in penalties.

7. International Considerations

Foreign Tax Credits: The UAE allows for the application of foreign tax credits to prevent double taxation, which is beneficial for companies with international operations.

The introduction of corporate tax in the UAE is part of the country's broader strategy to diversify its revenue sources while maintaining its status as a global business hub. The system is designed to be competitive, particularly for small businesses, while ensuring larger corporations contribute their fair share.

Why choose Break Front?

Global expertise with local insight: A team of seasoned local case executives, immigration lawyers, and investment specialists.

Independent service: We are not affiliated with any marketing agencies or specific projects. You’ll have access to all eligible Golden Visa options, allowing you to choose the best path for your needs, supported by the legal due diligence services of a reputable law firm.

High approval rate: We pride ourselves on our high approval rates while having successfully assisted hundreds of clients from over 25 countries.

Comprehensive support: Our dedicated onboarding and immigration teams guide you through the entire process, providing a seamless experience with a single point of contact.

Transparency: Our fees are clearly outlined and comprehensive, with no hidden costs involved in the entire process.

Privacy: Your personal information is securely stored in a GDPR-compliant database.