The business sector in UAE is promising and investors have identified the region as the go-to place for their investment. This is made possible by the positive business climate that the government of UAE has established, helping businesses grow. The political atmosphere in the UAE is also favorable for good business operations.
One of the key enablers for UAE as a hub for business is the Golden Visa, an approval introduced to encourage investors and entrepreneurs to set up their businesses in the region. The UAE Golden Visa regulation was introduced by the UAE’s Cabinet Resolution No. (8) of 2021 to facilitate holders with long-term residence in the region. Under this new visa classification, the foreigner would be able to live, work and study in the UAE even in the absence of a national sponsor. They would also be 100% owners of their own businesses within the mainland UAE.
Under the UAE Golden Visa as stipulated by the new amendment of the UAE Project 50 program, candidates that are allowed to apply include; investors, entrepreneurs, people with special talents and abilities such as researchers, students displaying exceptional academic performance, coders, and managers, and CEOs.
The UAE Golden Visa will be valid for between 5 and 10 years subject to automatic renewal when it expires. Another benefit of the Golden Visa is that the holder is allowed to sponsor residency visas for their families or dependents.
As such, the UAE Golden Visa is very valuable, particularly for investors looking to set up businesses in the UAE. Moreover, they will be able to legally stay in the UAE for longer durations compared to what was the case in the past. The same privileges apply to entrepreneurs and investors in the real estate space.
Planning to Apply for a Golden Visa?
There are certain requirements that are demanded from a foreign investor by the government to determine the type and value of their intended investment. To know whether you qualify, it is important to bring in the services of an approved auditor. There are many audit firms in Dubai that are fully at the disposal of such investors and will help you apply for a Golden Visa. They do this by helping you through some of the compulsory requirements, including but not limited to demonstrating evidence about their investment properties.
The requirements for qualifying for the UAE Visa vary for different people (Investors, Entrepreneurs, Chief Executives, Scientists, and Outstanding Students)
How to apply
As an investor in the commercial space looking to be able to apply for the UAE Golden Visa, you must first have an audit report performed by an approved company auditor. This report must be handed into the concerned authorities alongside:
- An audit report for the past financial year
- A company of your company’s trading license
- A copy of your list of partners
- Your company’s account statement going back the last three months
- FTA verified VAT returns
- A certificate from the concerned free zone authorities (this is for cases where the license is in free zones or zones under special departments).
UAE Auditors Can Help You
The investment market in UAE has benefitted from the Golden Visa development because this opportunity has facilitated a lot of rich and skilled people to migrate to the UAE for professional reasons. The UAE Golden Visa is only given to applicants that have met the set guidelines and expectations as defined by concerned authorities in the UAE.
There are many UAE Auditors who can help you process the required documentation so you can obtain the UAE Golden Visa. These companies have the ability to help you through the process, featuring a highly qualified team of auditors with extensive knowledge and skills in accounting and business consultancy.
One of the leading UAE auditors is Intellect Chartered Accountants, an auditing, accounting, and tax firm in Dubai UAE serving to help investors and entrepreneurs establish their businesses and operate compliantly within the region’s most exceptional marketplace. With more than 2 decades’ worth of experience to their belt, Intellect Auditors guarantee the quality of service while serving individual clients with integrity and proactiveness. Intellectual Chartered Accountants is registered under the Dubai Chamber, and the Economy, Finance, and Foreign Affairs Ministries.
The UAE Auditors can help you apply for the Golden Visa, using their knowledge and skills to facilitate you in passing all the regulatory checks. Among the validating documentation they can help you achieve include:
1. Audit reports
Audit reports are a primary requirement when applying for the UAE Golden Visa. An investor must submit the report as proof that they meet the requirements of investment as defined by the UAE government. The audit report becomes necessary when it comes to the UAE Golden Visa applicant wanting to demonstrate the value of their investment in the UAE.
Regardless of the form of investment, the Immigration Authority uses the audit report in validating whether you are an eligible investor. In so doing, the Golden Visa audit report serves as proof that the presented documents are indeed correct and accurate.
2. Net-worth certificate
UAE auditors can also help you process your net-worth certificate, another vital documentation for investors looking to acquire UAE Golden Visa. To determine your net worth, the auditors will calculate the value of your assets as an individual or as a company and then deduct the liabilities.
A net-worth certificate is used by the immigration authorities in establishing whether the applicant is financially capable or has the financial muscle to facilitate the specified investment.
With UAE Auditors, you also get value-adding advice alongside the audit report and net-worth certificate. All these documents are prepared in accordance with the standards set by the authorities and are targeted at enabling you to secure a faster visa approval as an investor venturing into the UAE.
Key takeaways
- A Golden Visa is granted by UAE and ensures security to the holder.
- With the UAE Golden Visa, you feel secure and can expect a good future in the country during the business.
- Golden Visas are also granted to specialized talented people. They can be anyone as a researcher in the domain of science and knowledge. Professionals must require valid employment in terms of specialized priority fields in the UAE.
The main advantage of having the UAE Golden Visa is that you have security as enabled by the issuance of the UAE government approval. Through the UAE Golden Visa scheme, the government has made it clear that the regulatory body is committed to providing investors, entrepreneurs, and basically everyone who meets the criteria to make their business and stay in the UAE more secure.
If you are looking to do the same, then you should find an approved UAE Auditor and consult with them about your ideas and the requirements for you to obtain the UAE Golden Visa.
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FAQs:
The main candidates that can apply for the UAE Golden Visa are investors with the right financial capacity to set up investments in the UAE. There is also a consideration for skilled personnel, but this comes with other requirements.
The UAE Golden Visa is a legal regulation set up by the government of UAE under the Cabinet Resolution No. (8) of 2021. No investor can set up a business in the UAE absent this compliance.
With the UAE Golden Visa, you are assured of operational security under the protection of the UAE government.
There are two key documents that a foreign investor in the UAE must have, these are the audit report and the net-worth certificate. The two documents serve as evidence of the investor’s capacity to sustainably operate within the UAE.
Certainly, Intellect Chartered Accountants is one of the most reliable auditors in Dubai UAE and has the ability to help entrepreneurs seeking to have businesses in the UAE. The company has adequate experience and expertise as enabled by the team of industry professionals passionate about their work.
