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