Guide To Invest In UAE To Get Citizenship

The United Arab Emirates is a country with more expats than natives. Approximately 80% foreigners and 12% natives, has defined itself a land of warmth for foreign investors, nationals and business tycoons. The UAE is a federation of seven states consisting of Abu Dhabi, Dubai, Ajman, Fujairah, Ras AL Khaimah Sharjah, and Umm AL Quwain. While each emirates state offers distinct and favorable environment for investors and business, but Dubai and Abu Dhabi attract the foreign nationals the most. The UAE has designed its cooperation with other countries in such a way that it catches the attention and desire of foreigners to come to this country. Its unparalleled and lucrative lifestyle has been the center of businessmen and investors’ attention for many years. In the recent year, the introduction of new schemes for citizenship has thrills the individuals and companies around the world. Dubai has emerged as a business hub and a global city competing many others and is a thriving tourist attraction. UAE is one of the richest countries in the world. It is needless to say that it keeps on attracting business individuals and many others to reside in Dubai to explore more in the horizon. In February 2021 the UAE made significant changes to the UAE citizenship program. The government introduced  “Invest in UAE to get citizenship” scheme which allowed investors and individuals with special talent to be nationalized, with their families.

How much to invest in UAE to get citizenship

UAE citizenship by investment or invest in UAE to get citizenship was introduced in 2021. It is a significant change to the GCC traditional method of never granting citizenship but only issuing resident permits and visa for a period of 5 or 10 years.

The purpose of new law is to invite and attract special individuals and talent to get citizenship and to contribute to their country’s welfare by investing in UAE. They continued to give citizenship to investors from all over the world to contribute towards the economy. The UAE executive councils and the Cabinets and local courts will be the institutions and authorities to selects and decide about who is eligible for this scheme and who is getting citizenship.

The law has been revised and amended to attracts the special talent and individuals towards country as per to Vice President and Prime Minister Sheikh Mohammad bin Rashid Al Makhtoum’s statement.

Eligibility criteria for UAE Citizenship by Investment or for special Talent

UAE long term residence visa is available in two-time frames: 5 years and 10 years.

Requirements and eligibility for 10 years residency visa

A residency visa for the period of 10 years is for those who want to invest in Dubai or for some special individuals who have some distinct talent in different fields.

10 years residency visa for investors

This ten-year residency permit is for those who have plan to invest in any of the sectors of UAE.

In order to get residency and qualify for this visa all an investor has to deposit 10,000AED or 20,000AED with UAE government. For this type of residency permit you have to show that you are going to invest. The plan for public investment must be of 10 million AED. So, for an investor residency you have to prove 2 pints for the eligibility:

• Minimum deposit of 10 million AED in a local investment fund
• An investment plan of investing 10 million in any of Dubai’s established company for a new business.

The UAE immigration department must approve the authenticity of prospected investment for the visa to be approved. The deposit of 10 million AED will grant you residency of 10 year and for five years residency you have to deposit 5 million with UAE government. Once the visa is approved, you can plan to move to Dubai.

The benefits of this visa (Invest in UAE to get citizenship)  are extended to your business partners, spouse and children as well. One of the biggest benefits of getting this visa is that you can settle your business in Dubai. There are no taxes in Dubai. There are no taxes imposed on capital gains. This is elaborated in this way that there is no income tax, no corporation tax and no property tax.

On the other hand, it does not mean that after getting 10-year residency visa will lead to UAE citizenship. The investor visa will not lead to any citizenship. It is really hard or nearly impossible to get that even if you are living in Dubai for years.

10-year UAE Residency for Special Talent

Individuals who have special talent in their fields and researchers in any of area of science and knowledge, such as inventors, scientists and creative persons in the field of art and culture, are eligible for this category to apply. Alongside with the individuals the spouse and children are also permitted to shift to UAE. A lawful job offer letter from the specialized area is required to get this residency permit.

Requirements

• If a scientist wants to apply for this residency permit, he has to be approved himself by the Emirates Scientist Council. Holders of the Mohammed Bin Rashid Medal for Scientific Excellence are eligible for this visa.
• If you are a creative individual in any of the field related to art and culture, the individual is required to be accredited by the Ministry of Culture and Youth.
• If you have any distinct and exceptional talent, you need to present your any exceptional and world class research that has been published in any world class magazine or journal.
• If your executive of any international company, you can avail this residency but you must prove yourself having a high academic achievement.
• If your are doctor or specialist, you need to fulfil at least two requirements out of these listed below.
  • Hold a Ph.D. degree from any internationally recognized university.
  • Have a certificate of excellence or any reward of appreciation.
  • Have ever participated in any major scientific research.
  • Have ever published any book or article.
  • Have at least 10 years of experience in any specialized field.
  • Specialized in any are a of priority in UAE.

Real estate investment residency permit

Another option for getting residency permit in UAE is to buy a property. To get residency visa through this way an investor must buy a property worth of 1 million AED. The investor must also prove that he has regular monthly income of 10,000 AED. This visa does not allow an investor to work in UAE region and the duration of visa is for 3 years.