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United Arab Emirates is an epitome of industrial progress and business growth in the world. So, many foreigners want to get a UAE golden visa to reap the rewards of this prosperous country. UAE’s government is making rapid changes regarding visa and tax procedures in the corporate sector in 2024.

The regulating bodies in the UAE are introducing several new policies in this regard. Accordingly, some of them have gone into implementation and a few are still to enforce in the coming years. The sole reason for these changes in laws is to increase the investment rate and boost the economy of the UAE.

Along with many modifications, UAE’s authorities have come up with the “golden visa”, a step ahead of the “green visa”. This valuable step is taken keeping in view the ease for investors and attracting the entrepreneurs. Subsequently, the sponsors can make a long-term investment plan in Dubai.

It is “time to switch from green to golden visa” for investors to have a lasting stay in the UAE. Golden card, a permanent residency for expats in the UAE is now a reality. Therefore, hundreds of expatriate business leaders are given 10-year residency visas under the government’s new golden visa scheme.

Defining the UAE golden visa

What is UAE golden visa?

The golden visa program is must-have for people desiring to stay in the UAE alone or with families for longer. Also, known as golden card, it’s a great opportunity for foreigners doing investment, and professionals to live, and work there. An initiative to hold a 5 or 10-year visa is desirable for expatriates demanding a comfortable environment in the UAE.

Shaikh Mohammad bin Rashid Al Maktoum made the announcement on twitter on Tuesday, 21st May 2019.

The permanent residency “Golden card” will be granted to exceptional talents and everyone who positively contributes to the success story of the UAE. We want them to be permanent partners in our journey. Residents are an indispensable part of our country.

Mohammad bin Rashid Al Maktoum — Vice-President and Prime Minister of the UAE and Ruler of Dubai

Reasons for launching UAE’s golden visa

Why is UAE giving golden visa?

UAE is rewarding the long-term foreign residents who are greatly contributing to its development for their loyalty. This announcement is creating an interesting new paradigm for foreigners here. UAE is super smart and progressive, and is boosting the attractiveness of the emirate for top global talent and investment.

Encouraging them to stay for longer periods of time means continuous investments. For the last 30 years, UAE has undergone rapid pace of development. So, the idea of belonging has increasingly become more and more important.

The move is huge milestone for the UAE and for the property market. Over the last few years, there are continuous measures taken to develop property market further which in turn adds longevity to the UAE. First with 5 year visa, then 10 year visas, then now with permanent residency option.

Louie Alsop — CEO of Alsop

Now with permanent residency option, expats living in the UAE can call the country their home. Visa rule changes are directly and immediately driving the office and residential market. Therefore, more business owners are likely to buy office spaces in the UAE rather than just rent them out.

Owning your own home also becomes a lot more attractive. If you know you can stay here for a decade and not just two years as it was in the past. This could also lead to increased property sales.

I felt honored. This country always respects genuine business people. This is my home now and I would love to live here forever.

Balvinder Sahni — Founder and Chairman of RSG Group

Since, its launch in 2019 till 2022, total number of golden visas was 151,666. Whereas, 150,000 golden visas were given in the first half of 2023. Due to Brexit, the appeal of Dubai is increasing as a retirement destination for British expatriates.

Benefits of the UAE golden visa

Which are the benefits of the UAE golden visa?

The UAE golden visa program provides these perks to the people investing in the Gulf region’s marvel.

Eligibility criteria for the UAE golden visa

Who is eligible for the UAE golden visa?

Now, we come to the point of which persons are eligible for the UAE golden visa.

Let’s discuss these categories of people eligible for the UAE golden visa.

Foreign investors

Expat investors are eligible to get a UAE golden visa if they fulfill any of these requirements.

However, they need to meet these conditions.

Entrepreneurs

Nowadays, as entrepreneurship is thriving in the UAE, so entrepreneurs are eligible if they meet these requirements.

Chief executives

To become eligible to get a UAE golden visa, chief executives have to fulfill these requirements.

Specialists, professionals, and scientists

For eligibility to get a UAE golden visa, specialists need to meet any of these requirements.

Graduates and outstanding students

Meeting these requirements makes graduates and students eligible to get a UAE golden visa for 5 years.

Process to apply for the UAE golden visa

How to apply for the UAE golden visa?

Next, you need to know the process to apply for a UAE golden visa. There are two ways to apply for the golden visa. In both ways, you have several steps to follow.

Moving forward, we take a look on these methods and the steps required for them.

Steps for in-person visa application

The first way is to file your application for golden visa in-person. For this purpose, you have to visit the GDFRA (General Directorate of Residency and Foreigners Affairs) offices. Eligible candidates can apply for a UAE golden visa using the following manual steps there.

Steps for online visa application

The other way is to get through UAE online visa services for foreigners. People meeting the eligibility requirements can apply for the UAE Golden Visa by logging into the ICA official website. Or they can use the online application system of GDRFA.

Here are the series of steps for online application submission for the UAE Golden Visa in 2024.

To get the candidate updated with the visa approval process, the online system will send notifications as well as text messages. Online applicants will receive emails or text messages to update them on the status of their applications. They also get informed in case there is some missing document that needs to be submitted within 30 days.

Conclusion

People want to make their stay in UAE as successful as possible. Also, they seek to set and grow their business in the mainland or free zones of Dubai. For this purpose, they can consult professional business consulting specialists.

UAE golden visa is one opportunity that they can count on. Our team of consultants will find for you the best possible options in terms of the work categories. While helping you in documentation, they will deliver you the finest way out to get the golden visa in UAE.

The UAE is a land of opportunities and foreigners join businesses to make a fortune for themselves. With time, they switch to other organizations in Dubai to excel in their careers. Therefore, a company must request DMCC visa cancellation after an employee leaves it in 2024.

As a business hub in the MENA region, it is necessary for UAE to develop infrastructure and create business-friendly laws. Especially, the Dubai government has to regulate the market in a proper manner to create efficiency and quality. In fact, it is highly important that potential investors receive ease in coming to the region with their investments.

The visa policy of the UAE is very open and investor-friendly. So, it attracts expatriate investors towards business setup in Dubai in different industries. Together with making the most of their investments, they are playing a role in the growth of United Arab Emirates.

It is a goal that the authorities in the UAE are working towards for over three decades now. Accordingly, they are making the foreign talent acquisition and employment visa issuance easier for companies. In the same vein, DMCC visa cancellation is also vital for companies to keep their employment visa quota in check.

The ease in the UAE visa policy

Is the visa policy of the UAE easy?

Over the years, the government of the UAE is continuously improving the visa policy. Subsequently, it is updating systems from record-keeping to the provision of visas. The success of the Dubai in attracting foreign investment for the setup of world-famous businesses is transforming the country.

This development is also led to the ease in the procedure for obtaining the UAE visa. Today, it is extremely easy for businessmen to fly over to the UAE for the purpose of business. Thus, it is proof of how well the visa policies and immigrant systems of the UAE are working.

Read more: Obtain a UAE golden visa

Cases for cancelling your UAE visa

Why you need to cancel your UAE visa?

A company having DMCC license must cancel the employment residence visa after an employee leaves the company. It is obligatory whether the employee is joining another company in the country, or leaving UAE altogether. For your DMCC visa cancellation, you have to submit an application through the DMCC company portal.

Employment visa cancellation has two scenarios, and the application process differs in each scenario. The first scenario is in case the employee is inside the country. Whereas, the second scenario is if the employee is outside the country. Visa cancellation from outside the country is applicable in three cases.

Further reading: Start a textile manufacturing business in Dubai

Procedure of cancelling your DMCC employment visa

What is the process to cancel your DMCC employment visa?

Let’s look at the step-by-step procedure of the employment visa cancellation of DMCC now.

Your DMCC visa cancellation procedure is now complete.

Tip: Hire business setup consultants

Conclusion

Business consultancies are well-known for their experience in providing PRO services and other support services to your business. Find a local sponsor who meets the clients’ requirements, and queries about the visa. The experts at the consultancy offer you all sorts of assistance with anything that you ask for.

The consultancy helps clients with company registration and company formation. Whether, you want to establish a free zone company, an offshore company, or one in mainland Dubai. The business consultancy provides you with relevant knowledge for each.

You can take advantage of the experience and knowledge the experts at the business advisory company have. They make sure that all your visa processes are smooth and quick. Whether, it is registration for a new visa, or an application for the cancellation of visa.

We at KWS Middle East help you gain all the right knowledge before you take a step further. Call us now or shoot us an email. We provide viable solutions to your queries regarding UAE visa.

Visa processes is one of those things that make people collect documents and take out time to complete. It’s these processes that the business world has to see every day when businessmen and investors are trying to cut a deal with people on the other side of the border or at a distance of a whole continent. The UAE government has realized that what is required is quick visa processing to further improve the business environment in the UAE. Continuous efforts are being in order to provide businessmen and entrepreneurs the best business experience possible whenever they visit the UAE and work on their businesses in the Dubai Free zone or any other free zone for that matter.

From good travel infrastructure to great offices, meeting rooms, hotels and food, everything contributes to the experience. The visa process was already very simple for those who wanted to come to UAE and perform business activities as the authorities are very welcoming for those who want to invest in the UAE. However, a need to make the process even better was felt and this intent has been welcomed by the business community that has a relationship with the UAE in one way or the other.

The Jebel Ali Free Zone Authority (JAFZA) has cooperated with the General Directorate of Residency and Foreign Affairs-Dubai (GDFRA) to make the visa process better than it was before. The people working in JAFZA will be able to take advantage of this facility.

Benefits of the deal

There are 7500 companies working in the Jebel Ali Free Zone, a free zone similar to the Dubai Free zone, and they have a combined workforce of around 150,000 people. The UAE is famous for having workers from abroad to work and that is why most of the people working in this free zone will be able to benefit from the newly simplified visa procedure.

The visa processing time will be cut to less than 24 hours and this has been made possible through an online procedure made for the workers to use. The authorities are of the view that making processes easier while keeping them safe and secure will make work easier for those who are entering UAE for jobs and for their business setup in Dubai. It will also strengthen ties with other nations as traffic to and fro will increase through easier processes.

The process has been made easier through an online link that can be used to register for visa renewals and other such support services that people from abroad require when they are working with a Business setup in UAE.

Business Support Services

Support for business setup in UAE is becoming better and better in the UAE day by day. Services and facilities are being provided by the government of the UAE to all industries and every business setup in Dubai and that is only going to have a positive impact on the business activity in the UAE. Whether it is a trade license Dubai or a visa, everything can be acquired with too long a process.

Business support is required by all businesses and KWS Middle has the experience and knowledge to help all of these businesses with the facilities and services that they want. From business formation to support services like visa processing and acquiring trade license Dubai, everything is made easier by the firm.

You can contact KWS Middle East through phone or email and we will get back to you with the answers to your queries.

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