Started your own company while still working as a side hustle? You might be interested in switching to an investor visa if your firm succeeds and you desire to do so, or if you have invested in real estate in the UAE.
To make the transition from an employment visa to an investor visa simple, there are a few things you should bear in mind before you do so.
UAE Investor visa options to consider
It’s crucial to look at all of your potential investor visa alternatives and each one’s requirements before you consider making the big step.
1. Company shareholder visa
If you founded your own business, your name would be displayed as a shareholder. You can then apply for a standard investor visa.
This investor visa is available to people who have established businesses in the UAE’s free zones or on the mainland. Being a significant shareholder in that company will allow them to receive an Investor Visa or Partner Visa.
The investor visa is typically granted for three years and is renewed at the conclusion of that time.
2. Real Estate Investor Visa
Depending on how much you invested in a piece of real estate in the UAE, you can possibly qualify for an investor visa. Investors in real estate can apply for either a five-year or ten-year visa.
Your property investment must be worth at least Dh2 million to qualify for a five-year visa.
The investment must be made in its entirety and not as a loan. A Dh10 million investment in real estate is necessary to obtain a 10-year Golden Visa through investment.
3. Investing in a UAE business
Investing in a company established in the UAE is another way to obtain an investment visa. The length of your Golden Visa will either be five or ten years, depending on how much you invested.
The investment could be made as a partner in a new or existing business or in a UAE-based investment fund. Your investment must be valued at least Dh2 million if you are investing in a fund.
Having shares worth at least Dh2 million that are not financed by a loan is required if you are investing as a partner.
For the 10-year visa, you must invest at least Dh10 million in an investment fund established in the UAE or have shares in an organization worth at least Dh10 million.
Also Read: Everything about New visa rules in the UAE
How does one move from an employee visa to an investor visa?
You can start the application procedure once you’ve decided on the sort of investor visa you want to obtain. The steps are as follows:
1. Get your documents in order
New entrepreneurs should make sure they have all the documentation needed for the application in order, according to a company management consultant based in the UAE, as they have a limited window of time to transition after their employee visa is terminated.
It is always advisable to have all the requirements for the visa in place first, to save time, as you only have a 30-day grace period once the prior visa is canceled.
As a result, if you intend to shift to your own company’s visa, you must make sure that the registration process is finished and that you have an establishment card.
You can begin finalizing your investment while you are on an employee visa by obtaining a company license or a property, for example. Your current employment visa can be canceled at this time if you want to.
2. Cancel your employment visa
You must first cancel your employment visa in order to convert it to an investment visa.
To do this, you must first apply for a new e-visa before changing your status from employee to investment. Depending on the length of your visa—three, five, or 10 years—you would also need to fill out an application for the Emirates ID at the immigration center where you had already submitted for the e-visa and change of status.
3. Get a medical fitness test
After that, you must have a medical fitness test, which typically takes three to five working days.
4. Receive your investor visa and new Emirates ID
Five to seven working days after the new investor visa application process is complete, the new Emirates ID will be issued.
How much does a UAE investor visa cost?
The average cost of an investor is approximately Dh6,000.
This cost includes:
- PRO (Public Relations Office) assistance fee
- Premium visa medical screening cost
- Assistance to process the visa
- Government application fees and documentation costs
Can one sponsor their family when one is on an investor visa?
After receiving your visa, you can also apply for visas for your family members. However, if you have an investment visa, you must pay a deposit of Dh1,500 per person, which is returned when the visa is canceled.