Visa is an international travel document that helps an individual who wants to travel outside the national boundaries. It is a mandatory document that every individual has to get rather be it for business or travel. Depending on the usage and needs, visa has been categorized into different types and are charged differently. Moving forward we will come across the different types and usage of each of them.
UAE Free Zone Visa
One of the magnetic factors that attract foreign investors to invest and set up business in UAE are its free trade zones. The zone offers investors to avail the benefits of tax exemption and 100% foreign ownership. Apart from this they also have the flexibility to repatriate the capital invested along with profits made during the business tenure. Once a company formation in UAE is completed, the owners have the flexibility to opt for a residence visa.
Types of Visas and Their Uses
Let’s have a look at different types of visas in the UAE.
1. Visit Visa
Visit visa allows an individual to visit UAE and the validity is 60 days and can be extended up to 90 days. The charge for a visit visa is AED 165.
2. Tourist Visa
Tourist visas are offered to tourists who want to get an exposure and explore the United Emirates. The validity is 58 days from the date of issue. The charge for a tourist visa is AED 69.
3. Mission Visa
It is a temporary work visa and is validated for 60 days but can be extended to 90 days by paying a renewal cost of AED 500.
4. Special Mission Visa
This type of visa is used for urgent and in special cases and is validated for 16 days for a charge of AED 200.
5. Transit Visa
Such visas are issued to holders just to pass through a country, and not to stay there. A 96-hour transit visa can be obtained from Dubai International Airport (DXB) by paying AED 44. Minimum transit time is 8 hours.
6. Multiple Entry Visa
This visa allows freedom for its holder to visit a country multiple times. The holder can visit UAE multiple times for a duration of 90 days by paying a sum of AED 1655.
This visa allows an individual to form a company in Dubai. To qualify for such visa, an initial deposit of AED 10,000 or AED 20,000 is a mandate. It is valid for a span of 3 years.
8. Residence Visa
Once the process business setup in Dubai is completed, an investor can opt for a residence visa. The main criteria for obtaining a UAE residence visa is that the passport should be valid for a minimum duration of 6 months. It amounts to AED 120 for 1 year and AED 360 for 3 years.
9. Employment Visa
Dubai work visa works as an entry permit for working professionals. The minimum age limit to obtain this visa is 18 years. The work permit free is approx. AED 1200.
Expansion or establishment of a business in Dubai is an option many investors get attracted to because of the multiples that this zone provides. Now, along with the visa process, the process of company registration in Dubai need to also get cleared by submitting the core registration documents.
UAE Tax-Free Zone Company Registration Documents
- The latest version of the registration form
- A business plan that depicts the scenario of the entire business to be established
- Copies of passport
- Attested copies of essential documents
- Bank statement
- Registration fees need to be cleared
After submission, a UAE free trade zone license shall be issued.
How to Apply for Investor Visa in Dubai?
We have seen the benefits that an investor is eligible for by holding an investor visa. A UAE immigrant needs to give an approval for an investor visa to get approved. Now, let’s see the process of obtaining an investor visa:
- Submit an investor visa application form, along with the essential documents.
- Pay the visa fees.
- After rigorous inspection, the visa will be sent to you through e-mail.
- The visa holder needs to go through a normal medical check-up as a part of the visa processing.
- The final step includes the process of getting the visa stamped on the passport.
Benefits of Holding a UAE Visa
- Allows you to own a bank account
- Provides the ability to sponsor your family
- Eases the process of obtaining a driver license and even to purchase a vehicle
- Provides the flexibility to rent property
- Provides the facility to live and work in the UAE
- Comes with the flexibility to invest in another UAE company
- Broadens the scope of investment in the real sector
- Frees you from the payment of any property or capital gains tax
In a nutshell, we can say that Dubai has grown at a massive rate and does provide numerous benefits for different types of visas so as to increase the foreign investors. Company formation in Dubai provides multiple benefits starting from tax-free zones to cent percent capital repatriation. The city is not only confined to large businesses but also provides a platform to small and medium enterprises to gain an international exposure. Are you holding a plan to give a kick start by setting up your business in Dubai? What’s holding you back then? Confused about where to start? Don’t worry. Commitbiz is a business setup consulting firm that will help you to ease out the process of company incorporation in Dubai. Our business experts not only help in procuring a Dubai free zone visa but also provide a transparent business framework, visa process, clear legal proceedings, taxation, etc. To know more, do contact us – we’d be happy to assist you in establishing your business in Dubai and help you to become an investor.