Due to various reasons and the high quality of life the UAE offers, it is no secret that it has become one of the most attractive destinations for ex-pats globally. This vision is even brighter because securing permanent residency in the UAE is simple and fast. Here are the reasons why and how the procedure can be pursued for each category of possible application submissions:
Swift process of residency approval:
The whole UAE residency application process takes no more than one month. An entry permit can be issued even within a week or two. There are four stages for obtaining UAE residency:
- Entry permit
- Status clarification
- Medical registration, as well as ID registration
- Visa issuance
Starting a company:
Running a firm in the UAE can secure a permanent residency for entrepreneurs and reward them with exceptional and exclusive opportunities only available through running a business in the UAE. The UAE market is thriving, and it is already a famous global business hub with a growing reputation internationally. Corporate and income tax exemption (except for oil companies and banks) is another attractive aspect of running a UAE business.
There are also other ways to obtain the UAE’s permanent residency:
- Purchasing a piece of real estate worth AED 1 million
- Signing a full-time contract as an employee (in this case, the employer should apply for the residency of their employees)
Establishing a company is still the most popular option among business people as they will not need to perform any business activities after forming a company. Yet, still, this method provides them with a fast shortcut to obtaining residency. Thus, this option can be desirable for those who want to retire or do not intend to work in the UAE.
- Family supportive programs: Applying for the UAE residency can be immediately accompanied by including the applicant’s family members (on the condition that they are eligible for the entry criteria). Because the UAE is the fourth safest country globally while owning the best hospitals and schools (only 120 international schools in Dubai only), it is an excellent place for relocation. A democratic and free lifestyle tolerant of multiple cultures makes the UAE even more attractive to foreigners.
- Unique economic opportunities: The average income of an Emirati family is AED 900,000, which is tax-free (personal gains in the UAE are tax-free). This allows families, even if they do not consider relocating to the UAE, to stay in the country for a couple of years and save up. The residency programs are tailored for permanent and temporary stays in the country. The initial residency visa is issued for three years and can be renewed unlimited times.
- Global mobility: Geographically speaking, the UAE connects Europe to Asia, and thus it is a fantastic place enabling access to various countries in these two regions. This is an ideal option, especially for business people who travel a lot. Having six major international airports with two world-class airlines facilitates (geographically and financially) traveling around the world frequently. Holding a UAE residency also provides visa-free access to many countries.
- Diversity of cultures and global lifestyle: With 90% of its population being ex-pats, the UAE boasts one of the world’s most culturally diverse environments. This facilitates building a new life in another country since all cultures are welcome in the UAE.
For more details about UAE residency, talk to one of iKonnect Citizens‘ Citizenship and Residency Specialists today. Call +971 50 152 4200 or email info @ ikonnect.ae.