The UAE is one of the most comfortable countries to live in. Citizens of many countries seek to move here for permanent residence. But it is impossible to become a UAE citizen. Applying for a resident visa is the only way to obtain temporary residence rights. We are a licensed registrar of companies in the Emirates and help foreign citizens open a business in this country and get resident status. Based on many years of experience, we have analyzed everything related to residency in the United Arab Emirates, and we want to tell you who a UAE resident is, what gives this status, and how you can get it.
Who Is a UAE Resident?
A UAE resident is a foreigner with the right to permanent residence in the country based on a resident visa, which is analogous to a residence permit. A resident visa is issued for 2 or 3 years with the right of extension. Foreigners can obtain it under the following conditions:
- Open a company in the UAE.
- Purchase real estate for 750 thousand dirhams (AED).
- Get a job in a company registered in the country.
- Enroll in one of the universities.
- Invest money in the UAE economy.
Each listed category has its procedure for obtaining a visa, but in any case, a resident must enter the country at least once every 180 days. Otherwise, the visa will be blocked and must be restored.
Advantages of a Resident Visa in the UAE: What Gives a Resident Status
Regardless of why he got the visa, the resident status holder receives several privileges. The main advantages of UAE residency include the following:
- Free residence in the Emirates for the resident and his family members. He can also apply for a sponsorship visa (Dependent Visa) for family members.
- Opening accounts of any type in UAE banks — savings and current accounts with obtaining a checkbook and no restrictions on using invested funds.
- Free visit to the Gulf countries and obtaining an American and Schengen visa.
- Doing business without paying taxes on income and property, economic guarantees from the state.
- Access to a well-developed healthcare system with special insurance.
- Rental or purchase of any real estate.
- Obtaining a local driver’s license is recognized in 50 countries.
In addition, a resident of Dubai or another emirate has advantages in developing a business and optimizing costs. He can arrange resident visas for company employees and obtain a UAE tax residency certificate, which avoids double taxation.
Conditions for Obtaining UAE Tax Residency
Both individuals and legal entities can obtain Emirates tax resident status. The UAE Ministry of Finance issues the TRC (TDC) Certificate for 1 year, and the conditions for its issuance are the following:
- Having a resident visa for at least six months — when issuing a certificate for a legal entity, the owner, all shareholders, and company management must have UAE resident status.
- Conducting activities by a legal entity in the Emirates for at least one year.
- Availability of a place of residence in the country for individuals. The legal entity must have a physical office and administrative staff in the UAE.
- Availability of a source of income in the Emirates.
Today, permanent residence in the UAE for individuals for at least 183 days over the past year is not required to obtain tax residency status.
Stages of Obtaining UAE Tax Residence Status
To obtain a UAE tax residency certificate, which allows avoiding double taxation, you must do the following:
1. Get a residence visa by opening an onshore company or employment in the UAE. To receive resident status, you must rent or buy an office for a company (housing for individuals).
2. Open an account in one of the country’s corporate and personal banks (for individuals, shareholders, and company executives) and regularly conduct transactions on these accounts, proving a real economic presence in the UAE.
3. Prepare a package of documents, no earlier than six months for individuals and one year of activity for companies. Legal entities must prepare an audit report for the last financial year.
4. Submit to the Ministry of Finance a prepared package of documents, which, in addition to the application letter for obtaining a certificate, includes the following:
- Copies of residence visa, passport, and ID card for individuals, shareholders, and directors. Legal entities must also submit copies of the company’s constituent documents and organizational structure.
- Licenses and a copy of the audit report (you need it to confirm the company’s financial condition).
- A copy of the office or residential lease agreement.
- Statement of transactions on bank accounts for the last six months.
5. Receive a certificate confirming your UAE tax residency status.
Documents Required to Obtain a UAE Resident Visa
There are several ways to obtain residency in Dubai or another emirate, which gives a foreign citizen many advantages. You must submit a particular set of documents for each of these methods. In any case, it includes the following:
- A foreign passport with an entry stamp into the UAE — its validity must remain at least six months.
- Application for an identity card (Emirates ID).
- Certificate of medical examination carried out in the Emirates.
- Health insurance policy purchased in one of the Gulf countries.
- Photographs of the standard form.
To obtain a resident visa when opening a company, you must additionally submit the following documents:
- Certificate of registration of a legal entity.
- Establishment Card — company immigration card.
- Copies of licenses.
- A bank statement confirming the contribution of the authorized capital, if required by the terms of company registration.
You will find a more detailed list of documents for other options for obtaining a resident visa in the United Arab Emirates from the specialists of Dynasty Business Adviser.
Time for Obtaining a UAE Resident Visa
Most of the time when applying for a resident visa is spent preparing and legalizing documents. The application review period is 5-7 days unless additional questions arise. Our company’s specialists will help you obtain a resident visa in the shortest possible time.
Cost of Obtaining a UAE Resident Visa
The cost of obtaining a resident visa depends on the place of registration and the type of visa. Residence in the Emirate of Dubai will cost the most, especially if it is given for opening a business in the Emirates. A visa will cost significantly less in Ajman, Sharjah, Umm Al Quwain, and Ras Al Khaimah.
Our article is for informational purposes only and cannot be considered legal advice. If you need advice on obtaining a resident visa in the UAE, contact Dynasty Business Adviser!