Residency in the UAE by establishing a company
In the free zone / in mainland UAE
You can obtain Residency in the UAE by establishing a company under various conditions depending on the type of investment you want to work in. We will devote today’s article to talking about how to open a company in the free zone to obtain residency.
Documents required when when establishing a company in the free zone:
Submit clear copies of the passports for all shareholders and directors involved in the company.
To get a Residency in the UAE by establishing a company you have to provide a comprehensive business plan detailing your company’s objectives, activities, and financial projections. This document is essential for the free zone authorities to understand your business model.
Some free zones may require a visa for company setup. Prepare passport-size photographs and be ready for a medical fitness test as part of the visa application process.
Memorandum of Association (MOA) and Articles of Association (AOA):
Craft a detailed MOA and AOA outlining the structure, shareholding, and planned activities of your company. These documents are crucial for legal purposes.
Fill out the designated application form provided by the chosen free zone authority. Ensure accuracy and completeness in your responses.
NOC from Current Employer (if applicable):
If you’re currently employed, obtain a No Objection Certificate (NOC) from your employer to facilitate a smooth transition into entrepreneurship.
Advantages of the Residency in the UAE by establishing a company program:
1- 100% Foreign Ownership:
Enjoy the perk of full ownership of your company, a significant advantage in many free zones.
2- Tax Benefits:
Explore the tax exemptions and incentives offered by the free zone, providing a favorable environment for business growth.
Capitalize on state-of-the-art infrastructure and facilities provided by the free zone, enhancing the efficiency of your operations.
4- Simplified Procedures:
Benefit from streamlined processes, reducing bureaucratic hurdles associated with company setup and daily operations.
5- You do not need a sponsor:
Exemption from having an Emirati sponsor in most fields and institutions in case of getting Residency in the UAE by establishing a company.
Benefits of Obtaining Residency in the UAE by establishing a company program:
- Strategic Location:
Leverage the UAE’s strategic geographical location, serving as a central hub for business activities across the Middle East, Africa, and Asia.
- Quality of Life:
Experience a high standard of living with access to world-class healthcare, education, and recreational facilities.
- Business Opportunities:
Tap into diverse business opportunities and networking prospects, given the dynamic and cosmopolitan nature of the UAE market.
- Security and Stability:
Enjoy political stability and a safe living environment, contributing to an overall sense of security.
Steps establish a company in the free zone in the UAE:
1- Choose a Free Zone:
Conduct thorough research to identify the most suitable free zone for your business. Consider factors like the type of activities permitted, industry focus, and geographical advantages.
Select a unique and meaningful business name, and reserve it with the chosen free zone. Ensure it complies with naming conventions and is available for registration.
3- Submit Application:
Complete the application form meticulously and submit it along with the required documents to the free zone authority. Pay attention to any processing fees or charges.
4- Approval and Licensing:
Await approval from the free zone authority. Once approved, you’ll receive a business license allowing you to operate within the free zone, thus. getting a Residency in the UAE by establishing a company.
5- Visa Process:
If opting for residency, adhere to the specific visa application process outlined by the free zone. This may involve additional documentation and biometric procedures.
6- Bank Account:
Open a business bank account in the UAE, adhering to the regulations of the chosen free zone.
7- Obtaining a visa (as needed):
If you plan to reside in the UAE, you may need to start the process of obtaining residency in the UAE by establishing a company. This includes submitting additional documents and applying for a visa through the authority or other relevant parties.
8- Starting work:
Once you obtain the license and settle all procedures, you can start your business in the free zone.
The United Arab of Emirates consists of seven self-governed emirates Abu Dhabi, Dubai, Sharjah, Fujairah, Umm Al Quwain, and Ajman which formed a federation in 1971 and later the seventh’s state of Ras Al Khaimah joined the federation on 10 February 1972.
Tourism is considered one of the most important economic fields in the country, as it combines the originality of the ancestors and the latest developments in the industrial revolution and technology.
It is a country in West Asia, in the Middle East. It is located at the eastern end of the Arabian Peninsula and shares borders with Oman and Saudi Arabia, with a total area of 83,600 km²
Estimated population of 9,503,800 people
The capital of the state is Abu Dhabi
The official language is Arabic, and 5 other languages are used in state departments, which are Chinese, English, French, Hindi, and Russian.
The currency is the UAE Dirham (AED)
The main steps of getting Residency in the UAE by establishing a company in the free zone
The process may be simplified into the following steps:
|Step1:||Completing company procedures:Complete all necessary procedures to grt Residency in the UAE by establishing a company in the free zone.|
|Step2:||Applying for a visa: After obtaining a company license, apply for the appropriate visa. The required documents must be submitted, and the prescribed fees must be paid.|
|Step3:||Medical Examination: A medical examination may be required to ensure that you are in good health.|
|Step4:||Submit requests for family (if necessary): If you want to bring in your family members, apply for the appropriate visas for them.|
|Step5:||Visa renewal: Depending on the type of visa, you must ensure that it is renewed in a timely manner.|
There are several ways to obtain a Residency in the UAE by establishing a company in a free zone. Remember that procedures may vary between free zones, so it is always a good idea to check the laws and regulations of your chosen zone.
Here we mention some common ways to obtain Residency in the UAE by establishing a company in the free zone:
- Investor residence: When you open a company in the free zone, you can apply for investor residency. You are usually required to have an equity stake or money invested in the company.
- Staff accommodation: If you work for your own company, you can apply for employee residency. This option is suitable if you want to live and work in the UAE.
- Family investor residency: After obtaining investor residency, you can apply for visas for your family members to reside in the UAE.
- Secretaries visa: In some free zones, employees with special professions, such as drivers or domestic workers, can obtain their own visas.
- Golden Residency: Some free zones offer a “golden residency” option that provides long-term residency for investors and their families.
There is a difference in the process of obtaining Residency in the UAE by establishing a company in the free zone compared to establishing a company within the Emirates. Here are some key differences:
- Full ownership:
In free zones, foreign investors are allowed to own 100% of their companies, while in some sectors within the Emirates, a local partner with a stake in the company may be required.
- Capital requirements:
In some free zones, investors can start businesses with less capital, while there may be higher capital requirements in some sectors within the Emirates.
- Location and activities:
Restrictions and regulations differ between free zones and inland areas. Free zones can specialize in a particular industry or business, while companies within the Emirates can operate in a variety of sectors.
- Visa procedures:
Obtaining a Residency in the UAE by establishing a company is usually easier in free zones, as visa processes for investors and employees are expedited.
- Regulations and controls:
Regulations and controls differ between free zones and internal zones and may change at times. It is always a good idea to check the current regulations for the area you choose to invest in.
- Visas for family:
In free zones, it may be easy to obtain visas for family members, while there may sometimes be strict requirements within the UAE.
- Taxes and exemptions:
Taxes and exemptions in free zones differ from those in inland areas, and free zones may usually provide a financial environment that stimulates investment.
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