A leading country for individuals and families seeking to establish a place of residence in the Middle East, the United Arab Emirates (UAE) provides a stable political and social environment, clear and transparent tax rules, good infrastructure, a favourable investment climate and an excellent quality of life.
Providing a wide range of modern accommodation, first class medical facilities, excellent international schools and a highly developed infrastructure, the UAE continues to attract international investors, businesspeople, and skilled professionals. Its business-friendly environment also ensures that it’s a natural choice for business and expansion initiatives.
When not working, residents have access to host of activities and entertainment venues, including beaches, sport facilities, excellent restaurants, and sprawling shopping malls.
As part of the UAE governments commitment to advancing its competitiveness, regional leadership, and future prosperity, in early October 2022 they introduced a new and improved range of Long-Term Residence (LTR) Visas options. The three types of residency visas are categorized as follows:
- Golden Visa
- Blue Visa
- Retirement Visa
- Self Sufficiency Visas
Golden Visa
The UAE Golden Visa is a long-term residence visa that allows eligible individuals to work, reside or study in the UAE. It is currently the longest-term visa available in the UAE, providing for 5 to 10 years of residency without any requirement for a sponsor.
Several categories of Golden Visa are available, catering to investors, entrepreneurs, outstanding individuals, specialised talents and high-earning executives or working professionals. Who can apply for a UAE Golden Visa will depend on the eligibility of the applicant. Read more about the UAE Golden Visa.
Blue Visa
The 10-year Blue Visa allows individuals working in environmental protection, sustainability, climate change, and renewable energy to live in the UAE without the need for a local sponsor.
The Blue Visa extends to the main applicants family members, including spouse, children and parents. This includes unmarried daughters of any age and sons up to the age of 25.
A flexible grace period of up to 6 months is also available once the residence permit is cancelled or has expired.
The Blue Visa is available to the following three categories of individuals:
- Distinguished influences in the field of Environment, Energy, Sustainability and Climate change.
- Innovators and Inventors in the field of Environment, Energy, Sustainability and Climate change.
- Investors and Entrepreneurs in the field of Environment, Energy, Sustainability and Climate change.
- Scientists and Researchers in the field of Environment, Energy, Sustainability and Climate change.
- Specialist in Environmental organization of Environment, Energy, Sustainability and Climate change.
Self Sufficiency/Financially Independent Visas
Self Sufficiency or Financially Independent offer residence permits to applicants who can demonstrate they have personal wealth and/or sufficient income, generated outside the UAE, to support themselves and their families.
UAE Retirement Visa
Retirees over the age of 55 or individuals who have worked for 15 years or more inside or outside of the UAE are eligible to apply for a 5 year retirement visa
Qualification Requirements
To qualify applicants must fulfil the following criteria:
- Make a financial deposit of no less than AED 1,000,000 within the UAE
- Own one or more real estate properties in the UAE value at no less than AED 1,000,000
Or
- Make a financial deposit of no less than AED 1,000,000 within the UAE
- Have a fixed annual income that is no less than AED 180,000 (AED 240,000 in Abu Dhabi) or its equivalent in foreign currencies
UAE Remote/Virtual Work Residence Visa
Non-UAE nationals employed outside the UAE are eligible to apply for a virtual work visa. This 1-year visa allows foreigners to enter and live in the UAE under self-sponsorship.
To qualify for a remote/virtual work visa, applicants must provide evidence that they:
- Work remotely for an organisation outside the UAE
- Receive a monthly income of USD 3,500 or equivalent
Dubai Virtual Work Residence Visa
Non-UAE nationals employed outside the UAE are permitted to live and work in Dubai with a virtual 1-year work visa. The visa is available to those who:
- Currently live and work outside the UAE
- Have an average minimum income of USD 5,000 per month
- Work remotely for an organisation or own a company outside the UAE
- Have a passport with a validity of minimum six months
- Have valid health insurance covering them in the UAE
Successful applicants can subsequently apply for residency visa for qualifying family members.
Establishing Tax Residency in the UAE
The United Arab Emirates does not apply personal income tax and until recently, there was no domestic legislative definition of personal tax residence. As of 31st March 2023 however, individuals will be deemed to be tax resident in the UAE if:
- The individual’s usual or principal place of residence is in the UAE and the centre of their financial and personal interests are in the UAE or other conditions prescribed by the minister;or
- The individual has been physically present in the UAE for a period of 183 days or more in a 12-month period;or
- The individual has been physically present in the UAE for a period of 90 days or more over a 12-month period and is a UAE citizen, UAE resident, or GCC national who either has a permanent place of residence in the UAE; or carries out a job or business in the UAE.
Formulating Comprehensive Residency Solutions
Correctly planned and implemented, residency programmes provide a solid foundation upon which it is possible to build flexible asset management strategies.
When combined and managed correctly, the following core products and services provide both clients and partners flexible and tax efficient solutions:
- International residency and citizenship programmes
- Tax residency
- Trusts and foundations
- Estate and succession planning
- International retirement plans
- Wealth management
- Corporate structures and banking
- International life and medical insurances.
All Inclusive Quotation
The total costs associated with applying for a UAE LTR visa are dependent on several factors including the residency visa programme selected, and the number of family members included within the application.
Please contact your Sovereign representative to discuss and receive an all-inclusive quotation.
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Please contact us if you have any questions or queries and your local representative will be in touch with you as soon as possible.
