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Categories Business, Business Setup, company, dubai

Advantages of Opening a Company in IFZA free zone

Want to start a business in a free zone but don't know what the benefits of IFZA company formation are? You don't need to look any further because this blog has everything you need to know. More and more people are interested in starting a business in this area. This is not only because it is in a good spot in Dubai, but also because it gives entrepreneurs so many opportunities. First, it's important to note that the free zone's location in Dubai is enough to help a business grow on its own. This is because the emirate has built a reputation as a place where people who want to get things done go. It has become one of the best places in the Middle East and the whole world to start a business. Also, the country has taken many steps to keep up with the constantly changing business world. Free zones in the UAE, in particular, have a lot of benefits that can help businesses grow. Read on to find out more about how IFZA companies are made.

Why choose business setup in IFZA?

IFZA, which is also called International Free Zone Authority, has become one of the most important places for investing in the UAE. Over the years, IFZA has grown into a strong platform with more than 800 partners around the world and a large global network. The free zone has set up a community where small and medium-sized businesses (SMEs) can join a large platform. This platform is made to give international and local businesses the tools they need to grow and thrive in a setting where innovation and development are important. The area has a variety of facilities, including warehouses, apartments, and office space.

Advantages of IFZA company formation

It's clear that there are a lot of benefits to IFZA company formation. Here are some of them:
  • Full ownership of business:IFZA lets foreign investors own 100% of a business they start.
  • Full profit repatriation: Companies in a free zone can send all of their profits back to their home country. This gives them the freedom to send all of their money back to where they came from without any rules.
  • 0% corporate tax: The laws of the UAE say that businesses don't have to pay corporate tax on their income. This means that you can keep all of your profits.
  • 0% import or export tax: In contrast to the mainland, there are no customs duties in free zones.
  • Strategic location: The free zone is in an important part of Dubai. This gives investors access to global markets that are among the best in the world.
  • Global connectivity: Dubai is home to people from all over the world, and you can connect with a global business community there.
  • Range of business activities: In a free zone, you are free to do a lot of different business things.
  • Time-efficient and simple registration process: Getting a license is a quick and easy process as a whole. The investors also have easy access to services for starting a business and running it in a free zone.

Reasons why company formation in IFZA is the right move for your business

One of the best things about company formation in IFZA is that it gives entrepreneurs who want to move up in the business world a variety of packages to help them get started on the right path. IFZA is also the only free zone in the UAE that gives investors who set up a business "‘lifetime visas." Also, the area is strategically close to a lot of important markets. The pros of starting a business here are also much more important than the cons of IFZA company formation. The rules and regulations that apply to companies set up on the mainland do not apply to this area. Branch companies, holding companies, and Limited Liability Company (LLC) with one or more shareholders are the different types of business structures in IFZA. One of the best things about forming an LLC in IFZA is that you can only lose as much as you put into the business. One of the biggest perks when it comes to company formation in IFZA is that it offers an array of packages to entrepreneurs who want to advance in the field of entrepreneurship and to set them

Unique features about IFZA business setup

IFZA is one of the few free zones in the UAE that stands out for its unique benefits and the chances it gives investors. These things are:
  • There is no need for the investor to send in an audit report every year.
  • No paid-up share capital requirement
  • Owners and employees can get a visa for up to 3 years.
  • There is no need for employees to put down a guarantee deposit in a free zone.
  • Permission to have an office online
  • Investors don't have to be physically present when a company is formed.
  • No letter of support is needed from the current visa sponsor

Trade licenses offered by IFZA

There are different licenses available in the free zone, such as: The entrepreneur can conduct up to 7 activities under one trade license. IFZA is also one of the few free zones in the UAE that allows professional, commercial, and industrial activities to be done under the same license. E-commerce is also not seen as a separate thing to do. But if you have a general trading license, you can still sell goods on online platforms. Tags : IFZA company formation, Business Setup Dubai, Company Formation Dubai, Company Registration Dubai, Dubai Freezone Company Formation, Dubai Mainland Company Formation, Business Incorporation Dubai, IFZA Dubai free zone Company Formation Process, Company Formation in IFZA Dubai Free zone
Categories Business License, Business Setup, company, dubai

Sole Proprietorship Company Formation in Dubai

A sole proprietorship is an exciting way to start a business because it is owned and run by one person, and the business license is also in their name. It's a common way for people who offer professional services to set up a business. One thing that makes a sole proprietorship different is that it can't have any shareholders or partners, nor can it have a company or corporate body. Even though there is no shareholder in this case, you may need to hire a local service agent depending on the type of business you run to help you go back and forth to get government approvals, licenses, visas, and more. As is the case with Local Service Agents in general, they don't have any say in how your business is run and don't have any shares in it. You still own it 100%, but they get paid an annual fee for the services they provide. The cost of setting up a sole proprietorship business is lower, but the fact that the owner is responsible for everything can be a problem in the long run. The person in charge of a single-location business is responsible for all of the money, both the profits and the losses and debts. In this case, if the business ran into financial trouble, the person might have to use all the money they've put into the business as well as their own assets to pay off those who are owed money. At Black Swan, we know both the technical details of setting up a sole establishment and the risks that come with it. Our goal is to make these processes easier for you, help you understand your options, and give you the best strategies for your business. Let's try to do great things together!

Benefits of a setting up a sole proprietorship

Setting up a sole proprietorship has many benefits for the person doing it. Here are some of them:

100% Ownership

Owners of sole proprietorships enjoy having full control over their businesses, whether they are from the area or from another country.

Ease in trading

The fact that sole proprietorships and other businesses with a mainland license can easily do business anywhere in the country, even in free zones, is a huge benefit.

Affordable

The UAE Government got rid of the paid-up capital requirements that used to be in place for sole establishments so that qualified people could use them more easily.

Operate as an LLC

People who want to start businesses in the service industry have a golden opportunity to set up their businesses as LLCs. With an LLC, the investor's personal assets stay safe, and they are only responsible for the amount of money they put into the business.

Documents required to set up a sole establishment

For a sole proprietorship company formation, you need to send in all the required documents, just like with other licenses and types of businesses. This makes sure that your application goes through smoothly. Here are the things that need to be done;
  • Filled application form
  • Passport copy of the owner
  • Owner’s residence visa or visit visa copy
  • Business activity and trade name options
  • Proof of registered office address
  • Local service agent’s Emirates ID copy (if any)
  • Proof of knowledge in the professional field (educational qualifications or professional experience/ required by some activities only)

How can you establish a Sole Proprietorship?

The Department of Economic Development (DED) is the main governing body for businesses on the Mainland. If you want to do business in any Emirate, you must get permission from the DED to do so.
  • The first thing you need to do to set up a sole establishment is to send the DED your business activities and business name to get initial approval. This is a sign from the DED that you can move forward with the rest of the process.
  • Depending on how you run your business, now would be a good time to hire a Local Service Agent. Along with this LSA, you must write and sign an agreement that spells out each of your duties (as well as the annual fee that the Local Service Agent will be awarded, if required).
  • After those things are taken care of, it's time to think about office space. For mainland licences, you must have a physical office. You must send your tenancy contract and Ejari to the DED along with other documents after you've rented an office space and made sure everything is set.
  • Now would be a good time to apply for any special permissions that your business might need from other groups.
  • When you have all of the above, you can send all of the paperwork back to the DED, make your payment, and get your business licence.
Setting up a business can quickly become a boring job if you don't have help from a professional. We want to give your business the boost it needs to be successful. Get in touch with our expert team and let's get the ball rolling on how we can help you set up a sole proprietorship. Tags : Business Setup Dubai, Company Formation Dubai, Company Registration Dubai, Dubai Freezone Company Formation, Dubai Mainland Company Formation, Business Incorporation Dubai, Professional License in dubai
Categories Business Setup, company, dubai, How To

How to Register a Forex Trading Company in Dubai

Forex trading in Dubai, UAE, is a popular way for many foreign investors and business owners to make money. Like all other businesses in the UAE, forex trading businesses in Dubai, UAE are well regulated by the local government. In fact, the UAE government gives the forex industry in Dubai all the help it needs and more. Because the government of Dubai has helped and thought ahead, the city has a huge forex market that traders from all over the world can enjoy. Learn How to Start a Forex Trading Company in Dubai by reading this information below. Most of the people who live in the United Arab Emirates are expats, which means that there are more foreigners living there than people who were born and raised there. Because of this, the foreign exchange market in the United Arab Emirates would be busy even if there were no forex traders there. This makes the forex markets the most stable and profitable business in the world. If you think you have what it takes to start a forex trading business, you can definitely make a lot of money in this field. There are a number of free zones in the area that these financial companies can use. For example, DIFC, which stands for Dubai International Financial Center, is the best and most popular choice for entrepreneurs who want to start a forex trading business in Dubai. No matter what, if you are good at forex trading and know what you are doing, you can make a lot of money from your investments.

Steps to Register a Forex Trading Company in Dubai, UAE

If you want to start a forex trading business in Dubai, you need to get a forex trading license from the Dubai Financial Service Authority or the authority in charge of the free zone where you want to do business. You should also remember that it is against the law in the United Arab Emirates to trade without a license to do so. If you want to get a forex trading license, you can always get help from business setup consultants in Dubai, UAE. Here are the steps you need to take to open a forex trading business in Dubai:

Choose a business setup consultant

The first step in starting a forex trading company is to find a reliable business setup consultant in Dubai, UAE, that has a legal relationship with a government agency. Before you open an account with the broker you choose, take the time to learn as much as you can about them. Most brokers give you a demo account where you can trade without putting any real money into it. So, you can check your demo account to see if the broker you chose is right for you.

Obtain a Forex Trading License in UAE

After choosing a good broker for your business, you need to get a forex trade license from the Dubai Financial Services Authority, or DFSA. The DFSA keeps an eye on all kinds of trading in the country's financial market. The DFSC checks your company to see if you have what it takes to run a forex trading business in Dubai, UAE.

Start a Forex Trading Company in Dubai

You can start forex trading in Dubai once you have a license to do so from the Dubai Financial Services Authority. Remember that you need to make a solid plan for your money and stick to it. People who don't know what they're doing and don't have a lot of experience can get hurt on the forex market.

Benefits of Forex Trading Company in UAE

There are some things that the forex trading business can offer that no other business can. This is because the forex business is different from other kinds of businesses. With a daily turnover of around $6.7 trillion, the foreign exchange market is one of the biggest places to do business. As we can see, the forex market's size gives it some advantages that no other market can offer or copy. Here are some of the reasons why a forex trading company in Dubai is a good idea:
  • Stability and Security
First of all, it is thought to be one of the most stable business sectors because it has a lot of money and is big. Even the biggest players can't change the market, which is different from the stock market, which is easy to change. And because the government in Dubai keeps a close eye on the forex market, it is very safe. You can start a forex trading business with little trouble and run it in a legal way.
  • Flexibility
Flexibility is the best thing about a forex trading company. You can take care of your business from anywhere and at any time. You only need a computer and a good internet connection to trade on the forex market. It can be done on a laptop or even a phone. You have a lot of freedom to find a good balance between work and your personal life. Unlike the stock market, you can still make a lot of money even when times are bad.
  • Tax Benefits
Even though Dubai said it would start charging a corporate tax, a company needs to make at least USD 102,000 to be able to pay the tax. On top of that, the business needs to be on the mainland. Companies in the free zone areas don't have to pay corporate taxes. So, you can start a forex trading business and benefit from not having to pay taxes, which will help you make a lot more money.
  • Easy to Begin
The foreign exchange market is easy to get into and get out of because there are so many transactions every day. It is easy to change your position or sell it off on the market. If you are looking for reliable brokers who can help you set up a forex trading company in Dubai, UAE, Black Swan can help you set up a forex trading company in the mainland or free zone areas. Contact us today to learn more about registering a forex trading company in Dubai. Tags : Set up a Forex Trading Company in Dubai, Business Setup Dubai, Company Formation Dubai, Company Registration Dubai, Dubai Freezone Company Formation, Dubai Mainland Company Formation, Business Incorporation Dubai
Categories Business Setup, company, dubai

How to Register a Logistics Company in Dubai ?

Dubai's connections to the world's major business centres are always getting better and growing. This means that any business owner can think about starting a logistics company in Dubai. Learn how to start a logistics company in Dubai by reading the article below . Dubai is one of the busiest sea-air multimodal transport hubs. This is because it has low freight costs and cheap transportation. The city's airlines and shipping services now connect about 400 cities around the world. Because of this, the logistics industry has grown a lot over the past few decades. But since many companies have moved to the UAE, the UAE is a huge market for your logistics company. Everyone wants to move their goods from one place to another if you are connected with UAE. So, this Article talks about How to Register a Logistics Company in Dubai.

Benefits of Registering a Logistics Company in Dubai

The country's policy which is open to foreigners is helped by the fact that its culture is thriving and full of new ideas. This makes it one of the best places to register & start a logistics company. Here are some reasons why you might want to register a logistics company in Dubai:
  • Because of how far technology has come and how helpful the government is, almost limited paperwork is needed to start a logistics company in Dubai.
  • Dubai's location at the crossroads of the East, West, North, and South makes it easy for producers, manufacturers, and suppliers from all over the world to do business there. This thing helps Dubai's logistics industry grow.
  • The United Arab Emirates has a great public transportation system.
  • The UAE government is always trying to make things better for foreign businesses & investors in the city.
  • Almost every foreign business doesn't have to pay taxes in the UAE. All types of taxes, from income and business taxes to personal taxes, are included. But some businesses have to pay 5% VAT on certain business activities.
  • There are a lot of free zones in Dubai, which makes it easier for you to run your own logistics business.
  • Your logistics business does not have to pay taxes to the government, whether it is on the mainland or in a free zone.
  • Once you have all the necessary documents with you, getting a license is a lot easier.

How to Start a Logistics Company in Dubai?

Before you can start a logistics company in Dubai, you need to have all the required paperwork. This makes it easier to start a business in the UAE. Here are some of the documents that are needed:
  • Copies of passports and visa
  • Two passport-size photographs
  • Entry visa and stamp pages
The documents may differ depending on what the business does, where it is, and how it is set up. Our experts at Black Swan can give you a full list of all the documents which is required to setup logistics business. Below is a list of the steps you need to take to register a logistics company in Dubai. This will help you set up a business in Dubai with ease:

Choose a Unique Name

The name of your logistics company should be unique and easy to remember. Also, naming rules in Dubai are very strict, so if you pick a name that is acceptable and legal, you can avoid legal problems. So, pick a name that makes sense and register it with the right UAE authorities.

Decide the Structure of Your Company

Your logistics company will run more smoothly if it has the right structure for your business. You can choose a structure that works for you, such as a sole proprietorship, a branch office of a foreign company, or a Limited Liability Company. Choose an organisation type that works for your logistics business.

Apply for business License

Every business in Dubai needs a business license because that's what the law says. Getting a business license for your logistics company in Dubai would be easier if you opened a corporate bank account. To get a business license, you need to send in the paperwork/documents and pay the fee. There are many kinds of business licenses in the UAE, so you can apply for any one of them. For your business, you also have to get approval from relevant authorities.

Choose a Business Location

Each place has its own advantages and amenities. Choose a place for your business based on what it needs. You can set up your logistics company on the mainland or in a free zone. For your business, you will need a real office and a place to park your fleet of cars. Before choosing a location for your business, think about how many vehicles you will use, how much money you have, and what technologies you will need.

Get Your Business License

Once you complete all the above steps, you will get your Logistic license. Once you have obtained your license, you can begin your logistics business in Dubai. You can now proceed with all the activities that you have planned for your logistics business such as seeking out prospective clients and contracts.

How Much Does It Cost to Register a Logistics Company in Dubai?

Several things affect how much it will cost to register a logistics company. Some of these factors depend on the type of license you choose, the number of vehicles you need, the security features, the cost of skills development training, advertising campaigns, extra approvals, visa and so on. Setting up a logistics business in Dubai can start at around AED 18,000. Our experts at Black Swan can help you figure out how much you need based on the needs of your business.

Start Your Logistics Company Black Swan

Black Swan is one of the best business setup consultants in Dubai and the United Arab Emirates. Our business experts can help you set up a business in Dubai and speed up the process of getting approvals from the right authority. All you have to do is get in touch with us if you need our full-fledged help and guidelines. Tags : Business Incorporation Dubai, Business Setup Dubai, Company Formation Dubai, Company Registration Dubai, Dubai Freezone Company Formation, Dubai Mainland Company Formation
Categories Business, Business Setup, company, dubai, uae

Difference Between Branch and Subsidiary in Dubai

Setting up branches in different places is a common way for companies to grow their business on a national or international scale. Branch offices are part of the parent company and are opened to do the same business as the parent company. This helps the parent company reach more people. Branch offices are different from subsidiary companies. A subsidiary company is a business that is owned by another company, called the holding company, which has the most shares. The parent company owns both the branch and the subsidiary company, but they are different in many ways. The article below explains the differences between a company's branch and its subsidiary.

Definition of Branch

A branch is an extension of the parent organisation that is set up in a different place to reach more people. It does the same things that are done at the main office. The person in charge of the branch is called the branch manager. The branch manager is directly in charge of the branch's work and also reports to and takes orders from the head office. Most banks and other financial institutions have branch offices that act as agents. Setting up branches in far-flung places increases the number of customers and makes the business easier to reach. It also helps distribute goods and services quickly and well.

Definition of Subsidiary

The term "subsidiary company" refers to a business that is owned and controlled by another business. When one company buys another, the company that bought the other company is usually called the "holding company," and the company that was bought is called the "subsidiary." A company is a subsidiary of another company if any of the following three things are true:
  • Ownership stake: If another company owns 50% or more of the corporation's total equity share capital.
  • Composition of Board of Directors: If a company's Board of Directors (BOD) is made up of people chosen by a different company. The way BOD is put together means that all or most of the directors are chosen by another company.
  • Deemed Subsidiary: If a company is a branch of a company that is itself a branch of another company.

Difference Between Branch and Subsidiary

The difference between a branch and a subsidiary can be seen in the following ways:
  1. A branch is a company that is separate from the parent company but does the same business as the parent company at a different location. On the other hand, if a company owns and controls another company, the company that owns and controls the other company is called the holding company, and the company that is owned and controlled by the holding company is called a subsidiary company.
  2. Branch has to tell its Head Office about how it is running. On the other hand, the holding company is in charge of the subsidiary company and owns most of its shares.
  3. The Branch office might do the same kinds of business as the Head office. On the other hand, the subsidiary company might or might not do the same business as the parent company.
  4. A branch is not a separate legal entity, but a subsidiary company is. It has its own identity that is different from that of its parent company.
  5. When it comes to branches, accounts can be kept together or separately. However, subsidiaries keep their own separate accounts.
  6. If we're talking about investments to open a branch or subsidiary, the parent company has to put up all of the money to set up a branch somewhere else. To own a subsidiary company, on the other hand, the parent company has to put up between 50% and 100% of its own money.
  7. When a branch office can't pay its debts, the Head Office has to pay them. On the other hand, a subsidiary company's debts do not spread to the holding company.
  8. If a branch is always losing money, it is shut down. If a subsidiary is always losing money, it is sold to another company.
Tags : Start a Branch Office in Dubai, Subsidiary Company in Dubai, Business Setup Dubai, Company Formation Dubai, Company Registration Dubai, Dubai Freezone Company Formation, Dubai Mainland Company Formation, Business Incorporation Dubai
Categories Business, Business License, company, dubai, uae

UAE Opens Golden Visa Residency to more Workers

After the new Abu Dhabi Visa categories go into effect, the Abu Dhabi Residence Office (ADRO) said that people will be able to apply soon. As seen on the Abu Dhabi Residents Office (ADRO) website, the UAE long-term visa will now be available on Abu Dhabi Residents Office (ADRO) website. Scientists, researchers, senior scholars, clerics, elite specialists in industry and the fourth industrial revolution, elite specialists in health fields, elite specialists in education, and skilled professionals can now get a Golden Visa. "Applications will be accepted soon after the new Abu Dhabi Visa categories go into effect," ADRO said, adding that each category has the following requirements:

For scientists and researchers:

  • Hold a Master's or PhD in Engineering, Technology, Life Sciences, or Natural Sciences, as defined by the Ministry of Education.
  • A PhD from one of the world's top 500 universities or a Master's degree from one of the world's top 250 universities. Or, a Master's or PhD from one of the top 100 universities in the field of study.
  • A grade of 1.0 on the Field Weighted Citation Index (FWCI).
  • A score of 10 or more on the H-index.
Or
  • A Scopus H-index grade > 20.
Or
  • Based on what the Ministry of Industry and Advanced Technology suggested, the UAE has made progress in setting up research and development sectors both inside and outside of the country.

For senior scholars and clerics:

  • A letter of recommendation from the Ministry of Culture and Youth or a local authority with the right skills.

For elite specialists in industry and fourth industrial revolution:

  • A letter of recommendation from the Ministry of Industry and Advanced Technology or a local authority that knows what it's doing.

For elite specialists in health fields:

  • A letter of recommendation from the Ministry of Health or Department of Health in Abu Dhabi.
  • A licence to work in the UAE that is still valid.

For elite specialists in education:

  • A letter of recommendation from the Ministry of Education or the Department of Education and Knowledge in Abu Dhabi.
  • A licence to work in the UAE that is still valid.

For skilled professionals:

  • Should have a job in the UAE.
  • Have one of the following jobs, according to MOHRE's scheme for classifying jobs:
    • Level 1 Classification – Managers & Business Executives.
    • Level 2 Classification – Professionals in the fields of Sciences, Engineering, Health, Education, Business and Management, Information Technology, Law, Sociology, and Culture.
  • At least a bachelor's degree or the equivalent is required.
  • At least 30,000 AED (or the equivalent) per month.
  • If asked, you must have a valid licence to practise in the UAE (such as Physician, Pharmacist, Teacher etc.).
The long-term visas will help members of the immediate family as well. The Golden Visa or Green Residence visa holder can sponsor their children until they are 25 years old, up from 18 years old before. There is no age limit for daughters who are not married. No matter how old they are, children with determination can get a residence permit. The UAE Golden Visa residency programme started in 2019. It allowed foreigners to live, work, and study in the UAE without a local sponsor and with full ownership of their business on the mainland of the UAE. Tags : Golden Visa eservices Dubai, UAE Business Golden Visa, Business Setup Dubai, Company Formation Dubai, Company Registration Dubai, Dubai Freezone Company Formation, Dubai Mainland Company Formation, Business Incorporation Dubai
Categories Business, Business Setup, company, dubai, Offshore Company Formation

Offshore Company Setup in JAFZA / Dubai

Dubai Offshore Company is not on the list of places to avoid because it is not a tax haven. So, it doesn't have any agreements to share information, so it's a fully secret place. In short, you will have a prestigious office address in Dubai, and you can open a bank account there or somewhere else. A Dubai offshore company gives clients, suppliers, and even potential venture capitalists a good impression. When compared to other types of businesses in Dubai, setting up a Dubai Offshore Company is quick and easy.

Advantages of Dubai Offshore company

  • The offshore company can be owned by 100% foreigners.
  • No UAE citizen needs to be a shareholder or sponsor.
  • The company can own real estate on the Palm Islands or anywhere else that the JAFZA approves.
  • There is no public list of the people who run a business. In order to register a company, no name should be given out.
  • Keep more than one bank account.
  • The company does not have to keep records or books.
  • New laws for the islands
  • The offshore company will not have to pay any income or business taxes.
  • There are no limits on foreign money.
  • Profits and capital from offshore companies can be sent home in full.
  • The costs of starting up are lower than those of an onshore company.
  • There is no office on land, so there are no employees or costs related to them.
  • Legally, you can avoid paying certain types of taxes on income and/or profits.
  • To start an offshore company, you only need a small amount of money.
  • At least one director or shareholder is needed.

Company structure for an offshore company in Dubai

  • Investments or Joint Investments Company
  • General Trading
  • Holding Company
  • Shipping or Ship Management Company
  • Property Owning
  • Copyright or Patent Company
The authority in charge of setting up the offshore company should approve a registered agent. The agent will either have to be in the free zone or in the UAE. Black Swan Business Setup is one of the market leaders in offshore business consulting and a registered agent for Jafza Offshore. We help clients find ways to pay less in taxes, protect their assets, and limit their liabilities. We do offer incorporation services in the most important offshore centres in UAE.

We offer

  • Registered Office with PO Box
  • Registered agent
  • Preparation of Memorandum and Articles of Association
  • Preparation of registration forms
  • Preparation of Incorporation Certificate
  • Assisting in Opening a multi currency bank account
  • Filing with the registrar of Companies
  • PRO Service
With Black Swan Business Setup , you get a team that knows the area well and has a lot of experience. This lets us understand your business's needs in a very specific way. So, we can give you advice on the best options and make sure your business is set up with the least amount of trouble and work. Setup your Business in JAFZA with end to end support from Blackswan Business Setup Team. Call us today for a free consultation. Tags : Dubai Offshore Company Formation, Jafza Offshore Company Formation, Types of Business License in JAFZA, JAFZA Offshore Regulations Features, Company Registration Process in JAFZA, Company Registration Business Setup Process in JAFZA, JAFZA Free Zone Company Formation Registration Process, Business Setup Dubai, Company Formation Dubai, Company Registration Dubai, Dubai Freezone Company Formation, Dubai Mainland Company Formation, Business Incorporation Dubai
Categories Business License, Business Setup, company, company formation, uae

How to Get Permanent Residency in the UAE

The United Arab Emirates is one of the best places in the world to set up a business or move to. What's so great about living in the UAE? Its tax-free status, high quality of life, great opportunities for business growth on both the Mainland and in the dozens of Free Zones, and, of course, its stable economy and government are among its main benefits.

UAE Permanent Residency Visa

Before we talk about permanent residency in the UAE, we need to quickly go over the other ways to live there. In contrast to a tourist visa, a standard residence visas lets you stay in the country for two years and can be renewed as many times as you want. You can also get a visa for people in your immediate family and children under the age of 18. In order to keep your resident visa valid, you must visit the UAE at least once every six months. If you don't, your visa status could be taken away. You can get a standard resident visa in the UAE if any of these things happen:
  • Purchasing real estate: You can get a two-year UAE residence visa if you buy a home worth at least one million Dirhams in Dubai or any other Emirate.
  • Entering an employment contract: If you want to work for a UAE-based company or the Emirati government, you will need a work visa.Your employer must take care of all the paperwork needed to sponsor your visa. It will take you an average of two to three weeks to get your first work entry permit, which is good for two months. Then, you would change the entry permit into a residence visa that is good for either two or three years, depending on where it was issued.
  • Incorporating your own company in the UAE: As an investor or shareholder, this is the fastest and most convenient way to get a visa to live in the UAE. The process takes only a few weeks and doesn't cost much. As long as it meets the Economic Substance Regulations, the business structure can be just formal. Investors or shareholders can get visas that are good for three years.
  • Studying in the UAE: If you want to go to school in the Emirates, you can get a student visa.
  • As a family member of a UAE resident or national: You can also get a visa to live in the UAE this way.
All of these visas must be renewed after a certain amount of time or they could be taken away. But what if you didn't want to deal with having your visa tied to your employer or you wanted to stay in the Emirates for a long time?

How to get Permanent Residency in the UAE

In 2019, the UAE started a new system for long-term visas that allow people to live in the country without a local sponsor and have full foreign ownership in a company on the Mainland. This part about foreign ownership is important because most companies on the Mainland need an Emirati national to own at least 51% of an entity. There are rules about who can get these visas, and you can choose between five-year and ten-year long-term visas. If this sounds like something you've heard before, it's because these visas were first called "Golden Visa". So, what kinds of people can get these golden visas? Look at this more closely.

UAE Ten Year Permanent Residence Rules

If you want to live in the UAE for ten years, you must meet one of the following two sets of rules:

Investors

If you want to be an investor, you have to put in at least 10 million AED, which is about £2.5 million. You also have to make sure you have at least that much money, not invest the money as a loan, and keep it for at least three years.

People with Specialised Talents

The other choice is to qualify as a person with a special skill. They can be inventors with patents that help the Emirati economy, as long as they have the right stamp from the Ministry of Economy. They can also be creatives in culture and the arts, scientists and doctors from top research institutions, as long as they have praise from influential journals or official recognition from government ministries and experts. These people must have a job contract in the UAE in an industry that is high on the country's list of priorities.

UAE Five Year Permanent Residence Rules

Don't worry if you don't meet the requirements for a 10-year long-term visa. You have options for the next five years. Who can get the benefits of living in the UAE for five years? Here you go:

Property Investors

You can get a five-year visa if you put at least 5 million AED into a property in the UAE. For the visa, you must meet the following requirements:
  • You have to keep the property for a minimum of three years.
  • You can't take out a loan to pay for the property.

Entrepreneurs

If you have a project that has been approved by a business incubator in the UAE or an idea that is already in place and has at least 500,000 AED in capital. The long-term visa for business owners has the following:
  • Three executives
  • A partner
  • Spouse and children
Entrepreneurs can also apply for a six-month visa that lets them come and go multiple times and can be renewed for another six months.

Outstanding Students

You can be considered an outstanding student in high school or college if you meet these requirements:
  • If you are in high school at a public or private school and have a grade point average of at least 95%.
  • If you have a cumulative Grade Point Average of 3.75 (on a scale of 4.0) when you graduate from college, either in the UAE or somewhere else.
  • Families of students with outstanding records can also get visas.

Do you have more questions about the UAE permanent residence visa?

Our Citizenship, Residency and Relocation team at Europe Emirates Group is here to help if you want to get a UAE Gold Card long-term residence visa quickly and easily. We can help you get all the paperwork you need, find your dream home, and even have a bottle of champagne waiting for you in the fridge when you turn the key. Please don't be afraid to get in touch with us if you have more questions about getting residency status or other questions about starting a business. Tags : UAE Residence Visa, UAE Work Visa, UAE Family Visa, UAE Student Visa, Professional License Dubai, Business Incorporation Dubai, Business Setup Dubai, Company Formation Dubai, Company Registration Dubai, Dubai Freezone Company Formation, Dubai Mainland Company Formation
Categories Business, company, Oman

Expats Living in Oman no Longer Need to get Passports Stamped with Visa

Local media said that foreigners who live in Oman will no longer have to get their passports stamped with the visa.

According to changes announced by the Royal Oman Police (ROP), all visa needs will be met by a resident card (ID card).

"When an expat's visa is renewed, the visa no longer needs to be stamped on his or her passport". 

The population of Oman has grown by 200,926 since the end of 2021, when it was 4,527,446. In June 2022, it will be 4,728,372, up from 4,527,446 at the end of 2021. There were 2,833,715 Omanis and 1,894,657 people from other countries.

The most expatriate workers live in Muscat, the country's capital, which has 632,666 of them. North Batinah, which has 221,723, is next, with Dhofar being the last (182,548).

Tags: Oman Visa Service, Business Setup Service Oman, Oman Mainland Company Formation, Company Formation in Oman, Company Registration in Oman, Oman Company Incorporation

 

Categories Business, company, Oman

Visa on arrival in Oman for GCC Residents of all Professions

People who live in the GCC and work in any field can now enter Oman from any border for business, tourism, or any other reason.

Local media said that residents still need visas, which they can get when they arrive at any GCC border post.

According to a circular from Oman Airports, Oman currently lets all GCC residents with a valid residence and work visa from the UAE, Bahrain, Kuwait, Saudi Arabia, or Qatar, no matter what they do for a living, into the country. But visas will be given out at the airport for a fee.

The new circular from the Directorate General of Passports and Residence about visas for residents of GCC countries says: "All residents of the GCC countries have the right to enter the Sultanate of Oman for all commercial professions; it is not required for people to come from the country of residence." This means that a resident of any GCC country doesn't have to come directly from that GCC country to use this service. It is allowed at any time and from any place they arrive from. The residence visa must be valid in the GCC for at least three months, and the procedures mentioned above must be followed.

Tags: Business Setup Service Oman, Oman Mainland Company Formation, Company Formation in Oman, Company Registration in Oman, Oman Company Incorporation, Oman Visa Service

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