But what is a Dubai Golden Visa? Who are qualified to have one? What are the top 5 benefits of having a Dubai golden visa?

In this article, we’ll break down all your million-dollar- questions about the UAE golden visa, so read on.

 What is a Dubai Golden Visa?

As explained above, the UAE golden visa is awarded to selected non-nationals (foreigners) which enables them to live, work, and study in the country without the need for a sponsor from a UAE national.

Recently in April 2022, the UAE cabinet announced a new scheme and regulations regarding the entry permit and long-term residence for expats, allowing more qualified people from a wide range of professions to apply for a 10-year residency visa in the UAE.

Who is Eligible for a UAE Golden Visa?

As of October 2022, the UAE government officially enforced the new law to allow people and professionals falling under the below categories to apply for a 10-year golden Visa in the UAE.

Real Estate Investors: 

If you are a real estate investor, you can benefit from the long-term visa by investing approximately AED 2 million into the UAE’s real estate market.

The new amendment also allows investors to obtain the golden visa when buying a property with a loan from a local bank in the country.

People with Exceptional Talents: 

Talented individuals in the field of art, sports, culture, technology, law, medicine, innovation, ETC, are eligible to apply for this visa.

In this case, the visa is granted based on individual talent without being influenced by educational background, salary, or employment status.

Skilled Professionals:

A skilled worker (professional) can apply for the long-term residency visa provided they meet the following conditions:

• They have a valid employment contract with a company in the UAE.
• Must be a level 1 or 2 jobs classified by the Ministry of Human Resource and Emiratization ( MOHRE)
• Have been a holder of a Bachelor’s Degree
• Must have a salary of at least 30,000Dhs (Approx. 8168.20USD).

Humanitarian pioneers: 

Being a member of a recognized international and regional charitable organization, you can apply for a golden visa in Dubai and the UAE.

Award recipients in the humanitarian and charitable sectors can also apply for a long-term residency visa in the UAE.

Students and Graduates with Outstanding Records:

High achievers and outstanding students in the UAE’s secondary schools and university system are eligible to apply. These also extend to students and graduates from the top 100 global universities and high schools.

For eligibility, the following is taken into consideration:

• the University’s global ranking
• The applicant’s academic performance of at least a 3.8 GPA
• The year of graduation

Frontline Heroes (Doctors and Nurses):

Health care staffs or frontline workers assisting in extraordinary circumstances such as COVID-19 are also eligible to apply for the Golden Visa.

What are the Benefits of a Dubai Golden Visa?

As a holder of a UAE golden visa, you enjoy several benefits and perks that are not applicable to the standard UAE residency visa.

Below are 5 of those benefits and perks

1. A 10-year renewable UAE residency visa
2. The duration to stay outside the UAE does not nullify the golden visa.
3. No Sponsor or Employer is Required
4. Residence for Family members with no age limit
5. In case of the death of the Golden visa holder, family members can stay in the UAE until the end of their residency permit.

How can you apply for a Dubai Golden Visa?

Congratulations if you fall in one of the above categories eligible for a Golden visa in the UAE.

The Dubai Golden Visa is a fantastic opportunity that you should not miss. The visa has proven effective for the UAE, and its authorities are enthusiastic about extending the program.

Our expert business advisors can help you in obtaining your golden visa in UAE

Book a Free Online consultation by submitting the below form

The post What is A Dubai Golden Visa, and Who Can Apply for One? appeared first on Company Setup in UAE.

TOP 5 Trending Small Business Ideas in Dubai [2023]

Based on research, interviews, and practical data, we have handpicked the best small-scale business ideas for aspiring entrepreneurs and startup businesses seeking to launch a company in the UAE market.
Here at the business hub of the MENA region (Dubai UAE), our team of seasoned business incubators is committed to supporting entrepreneurs in their ventures.

Online Stores (E-Commerce)

It became clear that the COVID-19 pandemic would test the resilience and performance of a rapidly growing e-commerce sector in the Middle East and North Africa (MENA) region when it began to affect the global market, which was especially true in the UAE.
Today, e-commerce is one of the fastest-growing sectors in the world, and in recent years, we have witnessed it take the Dubai market by storm.
Starting an online business in Dubai in 2023 will be a good option for most startup businesses as visitors and residents in Dubai and the UAE have started to prefer online shopping for different purposes, especially after Covid-19 hence increasing the e-commerce market scope in the country.
Looking for a small business idea in Dubai to start at a low cost? It will be wise to consider setting up an online shop (E-commerce) in Dubai.

Digital Marketing Agency

Today, the traditional way of marketing and commercial is fading away as most companies now choose to make themselves visible to their target customers via electronic platforms such as Search Engine Results (Websites), Social Media, Mobile Apps, ETC.
There is a population of over 183 million internet users in the MENA region alone. With Dubai being the center for business and tourist attractions of the region, this has created a demand for online marketing companies in Dubai in recent years.
It is of utmost importance if you are an investor or a startup entrepreneur to look into the scope of getting a business license in Dubai for starting a digital marketing agency since this can earn you a fortune in this constantly growing market.

Information Technology (IT) Consultancy

During the global pandemic, the information technology (IT) sector stood firm amongst the first units to adapt to the new way of life.
We saw the possibilities of having global online business meetings from the comfort and security of our home offices.
With the increasing demand for Cyber Security, Cloud Computing, Robotic Process Automation, ETC, most small and medium size companies on a budget prefer to outsource their IT demands to an IT consulting service provider to manage these services for them.
Want to set up a business in Dubai as an IT Consulting Service provider? You need to obtain a professional license in Dubai – We can help with that.

Travel and Tourism Consultancy

Dubai and the UAE top the list as one of the most visited destinations for tourist and business purposes around the globe.
The Dubai International Airport ranks among the top 10 busiest airports worldwide as of 2022.
Experts predict the growth of the travel and tourism sector in Dubai, UAE to grow even more in the coming future. For this, you can easily invest in this sector as millions of people influx to this destination every year.
Starting a business in the travel and tourism sector in Dubai in 2023 can fetch you a good profit.

Logistics Management and Consultancy

The geographical location of Dubai and the UAE has it a key hub favorable for import and export in the MENA region.
Also, its policy of zero import and export tax add to making it an ideal location for freight or cargo business.
A logistic company entails the assistance of manufacturing or trading companies with shipping their goods across the globe.
As an entrepreneur or a startup company, a logistic management and consultancy company setup in Dubai could be one of the top most profitable small business ideas in Dubai in 2023.

How to Start a Business in Dubai, UAE?

Dubai has attracted a lot of investors and companies due to its low tax rates, high economic growth rate, and stability of government policies. Besides this, there are many incentives for foreign companies who want to invest in Dubai such as free trade zones, tax exemption for 20 years for new industries & 100% foreign ownership among others.
In order to start a business in Dubai, you will need to first register your company with the Department of Economy Development (DED).

Below are the Steps
• Choose the type of business they want to open.
• Choose a business activity.
• Provide a suitable name for the business (At least three options)
• Apply for a relevant trade license base on your business activity
• Get an Office space (If required)
• Get initial approval for your trade license
• Open a bank account for your business
You can book a free online consultation for setting up a business in Dubai with one of our expert business advisors in Dubai by filling out the form below.

The post Top 5 Trending Small Business Ideas in Dubai for 2023 appeared first on Company Setup in UAE.

We advise you to follow simple guide to company formation In Dubai, UAE  to set up your business professionally and legally if you are an investor, entrepreneur, or businessman looking to launch a business in Dubai or any other emirate in the UAE.

To start a business in UAE, you will need a business license.

Below are the steps in obtaining a license.

Identify Your Desired Business Activities

Before applying for a business license in Dubai and the UAE, it’s of utmost importance to first identify your desired business activities.
You can apply for 1 of the four main business licenses in Dubai, UAE based on your business activities.

Commercial Business License: For commercial purposes such as trading, import/export, general trading, ETC.

Professional Business License: For professional services such as Business Consultancy Services, Designing, IT Services, ETC.

Industrial Business License: For activities such as manufacturing, packaging, production, ETC.

Tourism Business License: This license is provided for those who want to start a tourism business in Dubai and the UAE.

Sample of a Business License in Dubai

Identify The Target Jurisdiction Where your Customer Base is.

After you have identified your business activities and selected a suitable business license, you will have to choose a jurisdiction for your company formation in Dubai, UAE.
Dubai offers the opportunity for any investor desiring to start a business in UAE to have 100% ownership of their business with a 0% corporate and personal tax.
Depending on your business goals and objectives, you can choose from the following jurisdictions to set up your business.
Each has its pros and cons.

Mainland Business Setup: A Business setup in Dubai mainland can benefit from a range of customers since there are no restrictions on trading/services with the opportunity to open a branch office anywhere in the UAE.

Freezone Business Setup: Dubai Freezone Business Setup is an excellent option for many businesses since it offers 100% foreign ownership of your business, 100% repatriation of capital and profits, no customs duty fee, and a 0% tax rate.

Though setting up a business in Dubai is straightforward, it can be very frustrating if not done correctly.
It is also advisable to get the help of a professional business setup consultant like Company Setup in UAE.
You can also get a free consultation here.

Procedures for Company Formation in Dubai

• Choose your business activities
• Choose a trading name for your business ( At least 3 options)
• Fill out and submit an application form to the Department of Economy Development (DED)
• Draft a Memorandum of Association (MOA)
• Apply for your trade license
  Apply for Visas(s)
• Open a Bank Account

Required Documents for Business Setup a Dubai:

An application form
Memorandum of Association (MOA)
Passport Copy for Share Holders ( If more than one)
Certificate of Good Conduct

The post A Simple Guide to Company Formation In Dubai, UAE appeared first on Company Setup in UAE.