December 17, 2019 at 9:34 am #firstname.lastname@example.orgParticipant
The Business Visa is part of the Golden Visa system for permanent residents and foreigners to establish a home in the United Arab Emirates. The Business Visa allows entrepreneurs the freedom to explore and experiment in the UAE, while securing a future for themselves and their families.
What is the purpose of launching the Business Visa?
The Business Visa reflects the success story of the UAE and the diversity of its society. Ever since its formation, the UAE has welcomed entrepreneurs pursing their dreams. The new initiative aims to attract greater foreign investment and stimulate the local economy. This will increase UAE’s competitiveness and reaffirm the country’s position as a global incubator for talent. The Business Visa also provides stability and family cohesion through extending permanent residency benefits to the entrepreneur’s spouse and children.
Is the Business Visa a permanent residency?
Yes, the Business Visa is based on the idea of permanent residency, given that the applicant complies with the terms and conditions at each renewal cycle (every five years).
Who are the accredited business incubators in the UAE?
AREA 2071 in Dubai, and HUB71 in Abu Dhabi.
What are the benefits of the Business Visa?
Once the visa is issued, the applicant is allowed to enter the country for a period of six months, with a multiple-entry visa, to facilitate the procedures of establishing the business project. This visa can then be converted into a residency permit.
The visa holder can nominate up to three of their business’s senior staff to obtain the residency. All visa holders will be allowed to sponsor their dependents (subject to the conditions and requirements as set out by the Federal Authority for Identity and Citizenship).
What is the Business Visa?
The Business Visa is part of the Golden Visa system for permanent residents and foreigners to obtain a long-term visa for themselves and their dependents. This will create an attractive environment for business and growth.
Who can apply for the Business Visa?
Professionals with entrepreneurial experience from around the world are eligible to apply for the Business Visa. An eligible entrepreneur is anyone who has set up a business of their own at some point in their careers, and wishes to do so again in the UAE.
What are the conditions and criteria for obtaining the Business Visa?
In addition to the eligibility criteria below, applicants must successfully pass the requirements of the Federal Authority for Identity and Citizenship, including a background check and health assessment.
To obtain the Business Visa, you must:
Be able to substantiate your experience as an entrepreneur.
Have been a majority shareholder of a startup or a member of its senior leadership.
Be willing to relocate to the UAE and legally establish a business in one of the Emirates.
Have a business idea or business plan that you wish to bring to life in the UAE.
Do the Business Visa benefits include the mother and father?
As per the regulations of the Federal Authority for Identity and Citizenship, a resident may sponsor the parents based on a number of specified conditions.
If my nomination is approved, does that mean I will receive my visa?
Qualifying for the Business Visa does not guarantee that the applicant will receive the visa. Specialized committees review the application and the attached documents, and grant an approval accordingly. Once approved, the applicant will be required to follow the requirements of the Federal Authority for Identity and Citizenship in order to be issued the visa.
What is the purpose of granting a multiple-entry visa for six months?
The multiple-entry visa for six months gives the applicant the opportunity to assess the business project or investment in the UAE. It also facilitates the process of completing the application for the Business Visa.
How long is the application process?
The review of the application will take approximately 30 days. Once your nomination has been approved, you will need to complete the requirements of the Federal Authority for Identity and Citizenship, which can take up to an additional thirty days.
How will I receive my visa?
Once your nomination has been approved, you will be invited to complete the application for the visa through the Federal Authority for Identity and Citizenship website. Once completed, you will receive an email with further instructions on how to receive your visa.
If you are currently residing outside of the UAE, you will be given a six-month visa to enter the UAE, explore the opportunities, and settle. During this period, you will be required to convert your temporary visa into the residency permit.
If you are currently residing within the UAE, you will be given a temporary one-month visa, and will be required to convert your temporary visa into the residency permit during this period.
In both cases, you can convert your one- or six-month visas into the residency quickly and conveniently at SERVICES 1 in Emirates Towers, Dubai, United Arab Emirates; or, directly through the Federal Authority for Identity and Citizenship.
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