Citizenship by Investment in Dubai – 2023 Guide for Dubai Investment Visa
The Dubai investment visa is one of the simplest ways to move to the United Arab Emirates as an entrepreneur. The program was created for investors and businesspersons and aims at providing a predictable pathway for residency. While there is also a citizenship by investment program, it comes with stringent requirements. This is why the former option becomes a more suited one for those interested in long-term relocation to the Emirates.
| Quick Facts | |
| Nationalities accepted (EU/Non-EU) | EU and non-EU |
| Business investment option | Yes |
| Real estate investment option | Yes |
| Other investment options (if available) | – investment fund capital injection, – investments in other indutries than real estate |
| Residence or direct citizenship option | 5 and 10-year visas availability based on investment |
| Direct immigration with family members | Yes |
| Family members allowed to join the program | Spouse and children |
| Timeframe for obtaining citizenship/residency by investment | Long-term residence is available only |
| Dual citizenship permitted | Yes |
| Reasons to choose Dubai | – no personal income tax, – access to multiple investment possbilities, – new program dedicated to foreign citizens |
| Visa free travel to other countries (approx. number of countries) | Approx. 167 countries |
The 2023 Dubai citizenship by investment scheme
Compared to other countries, the UAE does not require foreign citizens interested in obtaining citizenship by investment in Dubai to file any application, as the Executive Councils, Rulers and Crown Princes Courts will choose the applicants.
The selected candidates can immigrate to Dubai with their families, therefore, the program extends to the main nominee and his/her close family.
For those interested, there is also the option of receiving a Dubai investment visa by opening companies in Dubai in 2023.
Special categories of immigrants who qualify for citizenship by investment in Dubai
The recently amended legislation provides for certain categories of foreigners who already live in the UAE to apply for Dubai investment visa. These are:
- investors who own real estate in any Emirate;
- businesspersons who open new companies in Dubai;
- entrepreneurs who acquire capital in existing companies.
These can also include their spouses and minor dependent children in the application for an UAE passport by investment.
The possibility of acquiring citizenship by investment through companies in Dubai
Dubai was always open for foreign investors interested in having their own businesses in the UAE, however, with this new immigration rules things have gotten even better, as from the 49% share of foreign ownership available until now, overseas enterprisers can now fully own a Dubai-based company.
Many entrepreneurs remember this option being valid in Dubai free zones only until now.
Foreigners who own properties and want to start their own businesses now have the option of applying for citizenship by investment through companies in Dubai and obtain a Dubai investment visa.
This is a great choice for enterprisers interested in making good profits in one of the greatest business hubs in the Middle East by obtaining UAE residency by investment in 2023.
Immigration to Dubai by residency or citizenship by investment?
Foreign citizens interested in relocating and/or getting UAE citizenship by investment in 2023 have the option of choosing between residency or citizenship by investment in Dubai. The main difference between them is the fact that while there are no restrictions for those interested in applying for residency, when it comes to citizenship, the nominees are elected by the Executive Council, Ruler, or Crown Prince Courts in Dubai.
Apart from these, the Dubai residence program comes with the following investment requirements:
- a public investment of at least 10 million AED or approximately 2.3 million USD in various assets;
- real estate property purchase with a value of at least 1 million AED or approximately 273,000 USD;
- business creation which can require investment in a project with a minimum capital of 500,000 AED.
Each investment option comes with long-term UAE residency by investment for the main applicant and close family members followed by citizenship, for those interested.
People who want to apply for citizenship by investment based on companies in Dubai also have several residency options.
Investment options for applicants
There are several options for those interested in obtaining Dubai permanent residency by investment, among which:
- business investment which enables applicants to start businesses in Dubai;
- real estate acquisition which is available under the Dubai property investment visa;
- retirement is also an option for those who want to relocate to Dubai;
- investment in various assets approved by government is also available.
Permanent residency in Dubai can imply obtaining a 3, 5, or 10-year visa depending on the amount invested.
Also known as the 3-year investor visa in Dubai, it implies a long-term residence permit that can be obtained without having to go through very stringent requirements.
Who was the lifetime investor visa in Dubai created for?
The Dubai investment visa aims at attracting specialized people and investors willing to relocate to the Emirate on a long term.
Also known as the lifetime investor visa in Dubai, as it enables foreign citizens to immigrate here and obtain permanent residence, this type of permit can be awarded to:
- entrepreneurs who open companies in Dubai;
- businesspersons who create free zone companies;
- investors who buy in existing companies.
How can the 3-year investor visa in Dubai be obtained?
One of the special aspects or, better said, novelties of this program is that those who qualify for the lifetime investor visa in Dubai are only required to file information about their work, acknowledgements, or proof of owning real estate in order to be nominated by the Executive Councils, Rulers, or Crown Princes Courts for citizenship.
With a simple process, this visa takes residency options in Middle Eastern countries to a new level. However, it is also a known fact that Dubai’s workforce is made in a large percentage of foreign workers who have proved their value over the years. The same applies to foreign investors who run companies in Dubai and its free zones.
The Dubai investment visa
Foreign nationals who want to open their own companies or make investments in an existing company in Dubai can apply for the Dubai investor visa, also known as the Dubai partner visa. By comparison, UAE’s citizenship by investment scheme offers additional options for those who decide to move here. Among them:
- real estate investment;
- retirement;
- long-term residency.
Since the program addresses investors mainly, citizenship by investment by creating companies in Dubai is one of the most interesting possibilities.
This visa, often referred to as the Dubai partner visa, is a great choice for foreign citizens who want to launch their own businesses in Dubai or make an investment in an already-existing company. They may also sponsor family members while residing and working in the UAE. The visa comes with a 3-years validity period.
Documents required to obtain an investment visa
Foreign citizens who want to immigrate to Dubai based on investor visas must file certain documents with the Land Department in the Emirate, as presented on their website and below:
- a valid passport;
- the property title of the acquired real estate which is available in electronic form;
- a recent photograph;
- a valid medical insurance;
- an Emirati ID (if the foreign applicant was issued one);
- a copy of the latest entry visa for the UAE (if available)
- criminal record clearance issued by the police department in Dubai;
- proof of submitting the minimum amount for the purchase of the shares or capital investment (a bank statement indicating the amount);
- a copy of the company’s business license.
Additionally, if the investor moves to Dubai with the family, identification papers of the dependents must also be submitted.
An important aspect to consider is that one has the possibility to invest a company in Dubai (a sponsor is required) or in a Dubai free zone (no sponsor is required in this case).
Can one’s spouse co-own a property as part of the Dubai investment visa application?
The conditions of obtaining an investment visa are less stringent compared to those of the Dubai citizenship by investment program, as it is more flexible. While the property must be worth at least 750,000 AED, it can also be purchased through mortgage. In this case, the bank must receive 50% of the property’s value, or at least 750,000 AED. In order to further proceed with the visa application, you will need a No Objection Certificate and a statement issued by the selected institution for the mortgage.
Moreover, through the investment visa, the husband and wife may jointly own a property with a value of at least 750,000 AED. In this case, the main applicant must file a valid marriage certificate.
Please note that documents to be used for official purposes must be translated into Arabic and legalized. Also, a power of attorney is necessary if the application is submitted through a proxy.
Duration to obtain an investment visa for Dubai
As all other procedures that must be completed with official authorities, obtaining a Dubai investment visa is quite simple and fast forward. After filing the documents with the Land Department, going through the medical examination and confirmation that the application is correct, you will receive the residence visa in 7 to 10 working days.
If you need assistance in filing for this type of visa or you need representation services, do not hesitate in getting in touch with us. While the UAE citizenship by investment scheme also remains an option, we advise the golden or the investor visa as both programs are more friendly in terms of conditions.
What does it imply to obtain a partner visa in Dubai?
The procedures of obtaining Dubai citizenship by investment or partner visas are not that different. In the second situation, the applicant must go to the immigration office and file for an admission permission. Then, a health certificate must be obtained after undergoing a medical examination and, the final step is to apply for an Emirates ID. After this, the visa holder must also acquire a health insurance.
The same procedure will apply for those moving with their families.
The Golden Visa in Dubai for skilled professionals
Compared to other countries’ similar schemes, the Dubai Golden Visa addresses a wider array of applicants, among which skilled professionals.
Professionals and highly qualified individuals with advanced degrees and work experience are also eligible to apply under Dubai Golden Visa’s requirements. Numerous academic fields, including those in medical, science, engineering, information technology, business, and administration, as well as those in law, culture, and the social sciences, fall under this group.
The application is classified in the first or second occupational level by the Ministry of Human Resources and Emiratization and implies having a work contract in the United Arab Emirates. Additionally, the applicant must have a bachelor’s degree or higher and a monthly income of AED 30,000 or more. So, in this case there is no need to consider the Dubai Golden Visa price, but only the processing fees.
Golden visas for real estate investors and entrepreneurs
The UAE investor visa is not the same as that of other countries. Most of the times, the program is compared to European ones where direct citizenship is available in some states. Here, it is issued for a limited number of years.
Some of the categories of applicants the program addresses are real estate investors and entrepreneurs.
If you own one or more properties, you may be granted a UAE golden visa without a sponsor for a period of 5 years that is renewable as long as the investment is maintained. For this purpose, you must supply the following documents:
- a letter from the relevant emirate’s land department confirming ownership of at least one property valued at 2 million dirhams (approx. 545,000 US dollars) or more;
- purchasing a property with a loan from a local bank that has been approved by the appropriate local organization.
This is by far one of the simplest ways to obtain a long-term residence permit in Dubai or any other UAE Emirate.
While this part of the program addresses those willing to pay a higher price for the UAE golden visa, there are also cheaper options, such as those for entrepreneurs.
For example, if you are an entrepreneur and have a technical or economic business idea that involves risk and innovation, you may be eligible for a golden visa that is valid for 5 years. You also need letters of permission from the following:
- a UAE auditor certifying the project’s value is at least 500,000 dirhams (approx. 136.120 US dollars);
- the authorities in the emirate that can ensure the idea is of a technical or futuristic character, and vouching for the establishment of the enterprise in an accredited business incubator.
Compared to other nations, the UAE golden visa’s price can be considered affordable for both categories of investors.
Golden Visa requirements in Dubai for students
Outstanding and high performers from the UAE’s secondary education system are also welcome to apply for the Dubai Golden Visa, as are outstanding university graduates from Emirati universities. High achievers who graduate from the top 100 universities worldwide are included in the program as well.
There are a number of requirements, including the university’s classification, graduation year, and academic performance/cumulative grade average to meet in order to obtain the visa.
Dubai Golden Visa applications for this category of candidates require:
- for students to have a GPA (Grade Point Average) of 3.8 or higher and attend one of the best colleges in the world;
- an average GPA of at least 95% for students who graduated from high school with a public or private school diplomas.
Without a sponsor, one might be given a Golden Visa with a validity of 5 years if he/she submits a letter of reference from the Ministry of Education.
The visa will also cover the families of such students. So, it is safe to say that the Golden Visa in Dubai can be used as a family reunion permit.
New options under the Golden Visa starting with 2022
Aware of the positive impact the program has had thus far, the UAE government enabled a new option for those interested in getting a golden visa through real estate acquisition. It implies a reduced investment, of only 750,000 dirhams (around 204,000 US dollars) for a visa with a validity of 2 years.
The new option allows the real estate owner to live in his/her country of origin/residence or anywhere in the world. Also, the property can be purchased in off-plan areas, including through financing.
If you are interested in a Dubai residence permit with a longer validity, we recommend the 3-year investor visa for the UAE.
The main advantages of the Golden Visa in Dubai
The Dubai Golden Visa was inspired by other countries with similar programs. While in Europe, such schemes are starting to be abolished, the one enabled by the UAE is quite recent.
The Golden Visa is a long-term residence permit offered by the UAE that allows foreign nationals to live, work, or study there while also enjoying a number of special benefits, such as:
- multiple-entry entrance visa valid for 6 months before a residence permit is issued;
- a long-term, renewable residency permit with a validity of 5 or 10 years;
- the benefit of not requiring a sponsor the freedom to be outside the UAE for longer than the customary 6-month period to maintain the validity of the residence visa;
- regardless of the applicant’s age, one will be able to sponsor their spouses and children as well as their parents.
- a permit allowing family members to stay in the UAE until their permission expires, if necessary;
- the capacity to sponsor an unlimited number of workers from one’s country of origin.
These are some of the main benefits of the citizenship by investment scheme. When it comes to the Dubai Golden Visa price, the amount required as investment depends on how long the applicant intends to live here.
Validity of the investor visa in Dubai
The 10-year and 5-year visas for investors in Dubai are among the long-term residence permits available in the UAE. Recently, a 3-year investor visa has also been added to the program, however, the first two options remain sought.
Creating a business in the United Arab Emirates with a capital of AED 10 million (approx. USD 2.7 million) or entering a company as a partner for the same amount in share purchase is the main requirement for the investment visa. For a 5-year visa, real estate acquisition for half this amount is required.
No matter the way you choose to immigrate to Dubai, if you need support with the application or business creation procedures, do not hesitate to ask for support.
Although Dubai has traditionally served as a regional hub for the Middle East, it has recently undergone adjustments to further its globalization. It features one of the lowest crime rates in the world, beaches, and a population that is 90% made up of various expatriates. It has long offered lifestyles that are comparable to those in the West. In order to be more in step with the majority of the rest of the world, the UAE recently switched from the Islamic weekend of Friday and Saturday to the Western weekend of Saturday and Sunday and started a remote worker visa program.
Why choose the UAE golden visa?
At the moment, the number of citizenship by investment programs is growing, however UAE’s scheme has several advantages. Among these, here are some of the most interesting:
- the residence permit holder is not required to actually live in the chosen Emirate;
- the main residence visa holder can visit the country anytime with his/her family;
- the UAE is one of the richest countries in the world, boasting business opportunities and great lifestyle;
- with a residence permit, one can set up a bank account in the UAE and hold his/her savings in it;
- the golden visa also enables one to benefit from the UAE’s great healthcare system.
Even if it takes longer, 30 years, one can acquire UAE citizenship which is especially beneficial for future generations to whom it can be passed on. The UAE passport comes with visa-free access to more than 170 countries.