UAE Residence Visa - UAE Residence Permit

Over the past years, the United Arab Emirates (UAE) has increasingly emerged as one of the most popular jurisdictions worldwide for residency between high net worth individuals (HNWIs), and even becoming a preferred alternative to traditional jurisdictions such as the UK, Switzerland, Monaco and Singapore. 

With no taxes applied on individuals on income tax, property and capital gains taxes, or net worth taxes, straightforward administrative requirements and low processing costs, coupled with political stability, excellent accessibility and sunny weather all round, the UAE is indeed a very attractive proposal as a residency jurisdiction.

For those who do not come on an employment contract, there are two other ways for obtaining the UAE residence permit: either through investment in real estate (property residence visa), or through the registration of a company.

The first option to obtain residency is by purchasing and owning a property. To fit the requirements of the residency visa, the property must be worth at least 1 million dirhams, which amounts to approximately US$272.000. The visa is normally issued for 2 years and does not grant the right to work in UAE.

The second option to become a resident of UAE is by registration of a Free Zone company. This option allows the shareholders and employees of the company to apply for residency status.

Residency in UAE by registration of a company is the most popular route of the two, as there is no investment requirement, the visa is issued for a longer period of time (3 years), and gives the opportunity to conduct business in the UAE while enjoying all the tax benefits.