UAE Startup Visa: How to apply

Last update: June 24, 2024

The United Arab Emirates (UAE) presents a compelling environment for businesses. Its strategic location at the crossroads of East and West positions it as a prime hub for international trade. The UAE boasts a robust economy driven by a progressive government that encourages innovation and entrepreneurial ventures. Business-friendly policies, such as tax breaks and streamlined company establishment procedures, attract international investors. Additionally, the UAE’s high quality of life makes it an appealing destination for skilled talent.

UAE Startup Visa Program

The UAE Golden Visa is a great option for entrepreneurs, both those already living in the UAE and those looking to move there. It offers a 5-year residency visa specifically for business owners with innovative ideas. By getting this visa, entrepreneurs can establish themselves in Dubai’s thriving startup scene and enjoy the benefits of long-term residency in the UAE.

Must Read: What is a Startup Visa?

Why Choose UAE

UAE Strong Economy

The UAE has a strong and diversified economy, with a strategic location that supports its status as a global trading hub. It has strong financial reserves, a large sovereign wealth fund, and a progressive economic diversification policy. The UAE is less reliant on oil and gas, focusing more on tourism and business. Its GDP was $415 billion (AED 1.83 trillion) in 2021-2023.

UAE Startup Ecosystem

The UAE is a place where ideas grow into businesses. In 2023, the UAE saw remarkable growth in its startup scene. Major business centers like the Dubai Multi-Commodities Center welcomed over 1,400 new companies. The UAE is a great global startup business hub with a record $23 billion foreign investment!

UAE Startup Support and Facility

The government offers business accelerators and financing services. There are dozens of agencies, accelerators, and programs to stimulate entrepreneurship. They provide advisory and financing solutions, capacity building, and incentives. Plus, there are key business incubators across the UAE.

UAE’s Quality of Life

Life in the UAE is pretty cool! It’s safe, modern, and has a high standard of living. The UAE government even has a National Strategy for Wellbeing 2031 to make the UAE a world leader in quality of life. Plus, cities like Dubai and Abu Dhabi offer many entertainment opportunities.

UAE Startup Visa Eligibility

To qualify, your business should focus on new technologies, solve future problems, or involve some risk-taking.

UAE Startup Visa Requirements & Documents

Requirements for UAE Golden Visa (Entrepreneurs with innovative projects):

• Project Value & Innovation: Get approval letters from:
  • A UAE auditor confirming your project is worth at least 500,000 dirhams.
  • The government in your chosen emirate (Dubai/Abu Dhabi) states that your project is innovative and future-oriented.
• Business Launch Support: Get a letter from an accredited business incubator in the UAE that supports your plan.

Other Documents:

• Valid passport copy
• Valid health insurance for at least a year (renewable)
• Proof of housing (ownership or rental contract)

UAE Step-by-step guide

Here’s a breakdown of each step in obtaining a 10-year residency permit for entrepreneurs:

Step 1: Request Information

In this step, you’ll initiate the application process by completing a specific online form. This form is likely titled “GOLDEN RESIDENCE – ENTREPRENEUR” and is designed to gather your information relevant to the entrepreneur residency program.

Step 2: Attachments Info

Before submitting your application, you’ll need to gather and attach all the required documents as listed in this guide.

Step 3: Review Application

Once you’ve filled out the form and attached the documents, carefully reviewing all the information you provided is crucial. Double-check for typos, missing details, or inconsistencies to ensure your application is accurate and complete.

Step 4: Application Fees

The final step before submitting your application involves paying any associated fees with the program.

Cost & Fees

Government Visa Application Cost

Please note that the service fees may vary depending on the data entered in the application.

Corporate TAX rate

• 0% corporate tax rate on qualifying income
• 9% on other taxable income

Cost of Living in UAE

• A family of four estimated monthly costs 3,418.5$ (12,555.9 AED) without rent.
• A single person’s estimated monthly costs are 981.5$ (3,605.1 AED) without rent.

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Processing Time & Outcome

Visa Processing Time

Several weeks to a month

What happens After Apply

Once you apply, you’ll receive updates on the status. If successful, you’ll need to undergo a medical exam and secure two-year medical insurance. Finally, you’ll complete biometric formalities and collect your Emirates ID card (residency permit).

UAE Residency through Startup Visa

The Golden Visa allows individuals to reside in the country for 5-10 years without requiring a local sponsor.

UAE Citizenship

Acquiring UAE citizenship is a complex process requiring nomination by government entities. Specific professions, such as doctors, scientists, and inventors with significant achievements, can be nominated.

Investors with property ownership in the UAE may also qualify. Rigorous criteria exist for each category; nominees must generally have over 10 years of experience.

Following the nomination, successful candidates must pledge allegiance to the UAE and abide by its laws. They may also be required to retain their original citizenship.

Role of Launchroad in The Seccess of Your Startup Visa

LaunchRoad is your go-to guide for starting a business abroad. We help you choose the right country, understand visa requirements, and get your startup off the ground. Our team of experts provides support, mentorship, and resources to help you succeed.

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