The UAE Government has once again taken a glorious move in the Year of Zayed. The move is highly commendable where His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, after a Cabinet meeting announced that the Investor in UAE can now have 100 percent ownership of their companies in the country along with, the investor visa in UAE for 10 years. The validity of the UAE Residence visa for professionals like doctors, scientists, entrepreneurs and engineers shall be extended for 10 good years. The extension of the visa shall also be valid to the families of these expats. Five-year residency visa for students studying in the UAE and a special consideration has been extended to students who shall be doing exceptionally well in their academics. They shall be eligible for 10 years UAE residence visa.
- What is the reason behind the UAE Government to change ownership and UAE residence visa rules?
The main motive behind the strategy of this new law, hundred percent ownership and ten years UAE residence visa by the UAE government is to make UAE a breeding cluster for exceptional individuals and a destination stop for investors. This new law has also been projected to boost the economy of the country and battle the dependence by oil in the region.
Investor in UAE will be able to control a company individually with an extended UAE residence visa for the expat along with the family. Investor in UAE shall be able to produce more investment in the country and make UAE their permanent home.
The UAE government hopes that with this initiative it shall attract Investors in UAE and drive tremendous and significant business evolution in the region.
- When will 100% ownership and 10 years residence visa be applicable?
The decision of the UAE Government on hundred percent ownership and ten years residence visa shall be imposed by the end of the Year of Zayed, 2018. The Vice-President of the UAE has summoned the concerned departments to progress the initiative by the end of this year. He has also directed them to review the current UAE residence visa structure to provide an extension for students during the validity of visa for dependents after they complete their university studies and ensure their future residence in the UAE.
His Highness Sheikh Mohammed tweeted, “Our open environment, tolerant values, infrastructure and flexible legislations constitute the best plan to attract global investments and exceptional talents. The UAE will remain a land of opportunities. It is the best environment to realise the dreams of humans and unleash their exceptional potentialities.”
- What you need to know if you are planning to study, work or invest in the UAE?
Investors in UAE should be well aware about the business trend in the UAE. As they are based on businesses in the Mainland or in the Free Zones. If an investor owns a business in the UAE – in the mainland, the business can only be partially owned by him and the majority shareholder of a company is of a UAE National. If an investor owns a business in the UAE – in the Free Zone, the ownership can be retained at hundred percent depending on the policies of different Free Zones in the UAE But with the new law by the UAE government, they have announced that any investor in UAE will have hundred percent ownership of businesses either in the Mainland or in the Free Zone. UAE has always been a safe place for investment, but this new law has safeguarded the investor in UAE more than ever. Investors in the UAE engages millions of money for businesses hence, this ten years residency is sure to get more security and permanently settle businesses for their investment they make.
The validity of the UAE Residence visa for professionals like doctors, scientists, entrepreneurs and engineers shall be extended for 10 good years and showcase their capabilities and building their stay in the country for a long run.
The visa shall also be valid to the families of the investor expats as well. Five-year residency visa shall be given for students studying in the UAE and a special consideration of 10 years UAE residence visa will be given to the students who will outshine in their academics
- How will GPK Tax Consultants help you to obtain an investor visa in the UAE?
G P K Tax Consultants will liaise with businesses in the UAE to obtain their investor visa in the UAE by providing executives, professionally dealing with PRO services who can effectively in line accomplish the procedures, rules and regulations. A professional is always necessary to guide you to a pathway of different phases that you would come across and coordinate to progress and finish all the procedures successfully with precision.
For new investors in the UAE, G P K Tax Consultants will provide Company Formation Services in the Mainland as well as in the Free zone of UAE. The Company Formation Services for investors will allow them to obtain a business license as well as Investor visa for the investor and their families.