The United Arab Emirates (UAE), known for its dynamic economy and oil wealth, stands as a major hub in the Middle East. It offers investors several advantages, including free trade zones that provide 100% foreign ownership, zero taxes, and exceptional infrastructure. Comprising seven emirates, Dubai is the most notable, celebrated for its opulent lifestyle and status as a leading tourist destination.
Residency in the UAE can be obtained through the Golden Visa program, which offers long-term residency with substantial benefits, such as exemption from income, wealth, gift, and inheritance taxes. Investors can qualify by establishing or investing in a company, or by purchasing real estate valued at AED 2 million (approximately $544,000). This visa extends to family members and is valid for five to ten years, with the option for renewal. While there are no minimum stay requirements, residents must visit the UAE at least once every 180 days.
In July 2021, the UAE broadened its Golden Visa eligibility to include various professionals such as foreign doctors, CEOs, and specialists in fields like science, technology, and business management.
Residency Options in Dubai
Dubai offers multiple residency pathways for foreign nationals who seek to live and work in the city. Below are some of the key options:
1. Investor Visa
For those investing in real estate or establishing a business, Dubai grants three- to five-year investor visas. Real estate investors must purchase properties with a minimum value of AED 750,000 (about $204,000), and the mortgage cap is set at 50% of the property value.
2. Employment Visa
Expatriates in Dubai frequently obtain residency through employment. To qualify, applicants need a job offer from a company based in Dubai, and employers typically manage the visa application process. A minimum salary of AED 4,000 ($1,090) or AED 3,000 ($817) plus accommodation is required.
3. Retirement Visa
Although Dubai doesn’t have a dedicated retirement visa, retirees can live in the emirate through property investment or family sponsorship. The UAE-wide retirement visa, available for those aged 55 and over, requires property ownership of at least AED 1 million ($272,000) or monthly earnings of AED 15,000 ($4,084).
4. Family Sponsorship
Residents of Dubai can sponsor family members, such as a spouse, parent, or child, to live with them. Sponsors need to earn at least AED 4,000 per month, or AED 3,000 plus accommodation.
5. Freelancer Visa
Dubai offers a visa for freelancers in fields like media, technology, and education. Applicants must prove earnings of AED 360,000 ($98,012) over the previous two years and hold at least a bachelor’s degree.
6. Golden Visa
The Golden Visa allows high-net-worth individuals and entrepreneurs to secure five- to ten-year residency without needing a local sponsor. Investors can sponsor family members and an unlimited number of domestic workers.
UAE Citizenship by Investment
Citizenship in the UAE is generally obtained by birth, descent, or marriage. However, in February 2021, the UAE amended its laws to allow foreigners nominated by government bodies to be granted Emirati citizenship, which offers visa-free travel to 176 countries.
Mobility and Lifestyle
UAE residents enjoy visa-free travel to many countries and benefit from a tax-free environment. The country is recognized for its safety, political stability, and high standard of living, attracting over 150 nationalities to live and work in the region.
