For most of us, changing our working day has involved acclimatising to new environments, whether it is in a reorganised office space with Perspex barriers separating colleagues, or learning to work from home using remote software. However, for many, it has stimulated a longing for new scenery, and new opportunities too.
Today we will be sharing an exciting scheme for residency by investment in the United Arab Emirates (UAE), opening itself up to people from all over the world with numerous investment opportunities offering the reward of residency within their borders in return.
Why the UAE?
Along the eastern coast of the Arabian Peninsula, the seven emirates which make up the UAE present an array of culture, activity and opportunities to expand your investment portfolio. Whether you desire an idyllic climate, proximity with Europe, the Middle East, Asia and Africa, or shopping centres full of the latest designer clothing, the UAE has something for everyone.
Being a centre for oil and financial industries, the UAE is home to many night net-worth individuals, therefore, a high quality of life is available to those with the required levels of disposable income to be afforded access to the luxurious emirates.
How does it work?
You may be wondering, why does a nation so prosperous feel a need to open itself up like this in order to attract investment? Well, it would seem that in competitive global markets, there is always a need to stay attractive to business owners, and so an offer such as this seems too good to turn down. This specific visa is for living and working in the nation, and it is said to be with the aim of providing sufficient time for the investor to get a business up and running.
What are the requirements?
There are 2 options, the 5-year and 10-year golden visa and the process is as follows:
1. Deposit 10 or 20 thousand AED (United Arab Emirates dirhams), the equivalent of roughly US$2700 or US$5450 (as of 20/04/2021) to the UAE government
2. Prove you have sufficient funds to invest in a business or create a business in the UAE
3. Await approval from senior government officials and necessary authorities
Another interesting point to mention is that depending on how many millions of AED you wish to invest, the visa you apply for changes. This is to say that if you have 5 to 9 million AED to invest you will apply for the 5-year visa, as the minimum number of millions of AED for the visa corresponds to the length of residency.
Therefore, an investment of at least 10 million AED authorises a 10-year residency permit, providing that extra bit of motivation for you to invest larger amounts to reap larger rewards and also making the decision process of which to apply for clearer for you.
Benefits
Speaking of rewards, the most obvious one is tax. As a nation with no income or capital gain tax, the investment residency visa goes hand in hand with the non-existent taxation as your newly established business should be able to prosper in a climate such as this.
Alongside this, it is said that the process only takes around 1 month and if successful the lag time between application and moving is extremely minimal, allowing you to get your business up and running in the UAE in no time.
So, if you are interested in finding out more about how to make the UAE your next home, as well as other opportunities to develop your business, contact us today! Below this article, you will find a link to set up a free fifteen-minute consultation with us to discuss your options further.
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