- September 16, 2021
- Posted by: DBS
- Category: Dubai Business Services
Iranian’s happiness is now over the top to know about Dubai Company Formation and UAE Residency Visa is allowed for Iran citizens. The UAE is a country with a lot of expanding businesses looking for a place to expand where they can reap excessive profits. Citizens of Iran can apply for a resident visa in Dubai by obtaining a Property Investor Visa.
The Dubai Land Department issues property investor visas which are valid for three years and are renewable every three years. You can also get an Emirates ID, a driving license and sponsor one of their family members if you get the Property Investor Visa.
Iran and the United Arab Emirates have developed strong commercial ties. Additionally, there is a substantial Iranian community in the UAE with schools, banks, hospitals, and more. Therefore, Iranian nationals can easily establish a business in Dubai and apply for residency permits upon obtaining a trade license.
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How do Iranians establish businesses in Dubai?
During the Dubai 2020 expo, there will be multiple agencies that can assist you in finding properties in Dubai. Investor Property Visas can be obtained through Business Link as soon as possible. We can help you get a UAE residency visa if you are a property investor and planning to move to Dubai, either to set up a business or spend some time exploring the city.
This visa will be valid for both you and your family for three years from the Dubai land department. You will then be able to open a bank account for your establishing company by obtaining the processing license for the DED that follows the company trade license.
You can get things done easily if you have the right guide.
Dubai company formation for Iranians: A Complete Guide
Businessmen, as well as aspiring entrepreneurs, can start their ventures in Dubai.
Iran invested approximately USD 200 billion in the UAE. After the UAE and Iran reached USD 12.9 billion of trade exchange in 2017, the UAE became Iran’s most crucial trading partner.
Iran has continued to look to the UAE as its most important business partner. Together, the two countries are members of several international trade associations, such as the Indian Ocean Rim Association and the Eurasian Economic Union.
To help Iran reach the international markets, the Emirati ports offer the lowest rates. Iranians are, therefore, able to obtain a lucrative UAE residency visa.
When starting a business in Dubai, you need to consider the following factors:
A company’s structure
Analyze your company’s structure to determine the best model. You can form either a limited liability company or a sole proprietorship, depending on the nature of your business activity.
GovernPermit to conduct business law
When you select the right jurisdiction and region, your business can run more efficiently in Dubai. You can open a business either on the mainland or in a free zone. Your company will decide what to do as well, based on what it plans.
License for conducting business
A trade license can be classified in four different ways in Dubai. Among them are industrial, tourism, professional, and commercial. You can also determine this by the nature of the business you choose.
Dubai residency visas for Iranians require additional approvals
Your application for a trade license will require security approval if you are an Iranian citizen. Additionally, some businesses in the F&B sector may require permits.
Emirates to Allow 100% Foreign Ownership
Iranians can benefit greatly from this law that allows 100% foreign ownership while they open a company in the United Arab Emirates. UAE company law changes set to take effect on June 1 will eliminate the requirement for an Emirati shareholder or agent.
As part of UAE efforts to promote ease of doing business, the Commercial Law amendment is intended to enhance the country’s competitive edge.
Several steps have been taken by the UAE to attract investment and foreigners into the Gulf state, which was devastated by the Coronavirus outbreak. Last year, the law was announced, allowing 100% foreign ownership of companies.
Foreign investors were already allowed to own up to 100% of some businesses under a previous law in 2018, and foreigners could already own up to 100% of businesses in designated business parks, known as “free zones.”
Is it possible to apply for a UAE residency visa for Iranians?
Iranians are allowed to obtain UAE visas. Depending on the type of residency permit you have, the validity of your visa will vary. UAE, however, does not grant its citizens permanent residency or a green card.
There are several types of visas available to Iranians to enter Dubai:
- The residency permit will be issued to you based on your employment contract with a UAE-based company.
- An Iranian national can apply for a Dubai residency visa after investing at least 1 million AED in real estate.
- Establishing a company in the UAE allows you to easily get a three-year investor visa. A Golden Visa can be applied for if you meet the investment criteria set by the UAE government. An Iranian entrepreneur can receive one of two types of Golden Visas (five years or ten years) based on the amount they invest.
Obtaining a UAE residency visa and relocating to Dubai are the most convenient means for Iran citizens. Security approval, however, is a major factor. Applicants must submit their visa applications to the department concerned for verification.
Iranians: How do they get a Dubai visa?
The UAE has an Embassy in Tehran, but visas cannot be obtained there. There are other ways for Iranians to apply for their Dubai visas. On condition that they utilize the facility provider’s service for/during their visit, they can request a UAE-based airline, travel agency, or hotel. Your visa will be applied for on your behalf by these providers.
They need to follow these steps in order to obtain a UAE residency visa:
Requirements for documents
Documents required for Iranian entrepreneurs to apply for a UAE visa include the following:
- Form for submitting an application
- Copies of passports
- Passport-size photos taken within the past two years according to UAE guidelines
- Copies of the original visa and the entry permit
- Resident status of the sponsor in the United Arab Emirates
- Copies of the license for the company
- Copies of business cards
- Copy of the Ejari contract.
Process for Iranians to apply for residency in the UAE
Iranian businesspeople can apply for a residency visa in Dubai here:
- Preparation of the aforementioned documents
- Permits should be obtained. Security clearance from the Immigration Department is required for this.
- Fill out the application and pay the fee for residence visas
- You’ll need your Emirates ID stamped once you have your visa
Iran-UAE Economic Relations
Due to sanctions and other legal barriers, doing business directly with Iran has become increasingly difficult in the past decade. The UAE has thus become Tehran’s most important link to the global economy. Both UAE and Iran enjoy significant benefits from their trade relationship.
In return for providing them with goods, Iran profited handsomely from billions of dollars in trade through the UAE’s ports. Most estimates place the volume of trade between Iran and the UAE at $12 billion in 2007. UAE traded with Iran more than Germany and Italy, Iran’s popular European trading partners.
In recent years, countries such as China have begun to conduct most of their bilateral trade with Iran through the United Arab Emirates, owing to its strong commercial and energy ties with Iran. There are; actually, more than 80% of UAE exports to Iran are re-exports of goods that have been received from other countries, including everyday foodstuffs and industrial equipment. In 2010, the re-export trade was worth over $8.5 billion, although it is believed to be much higher on an unofficial basis.
UAE imports more than 15% of Iran’s total as well as about 17 percent of the U.S. market. Iran’s top source of goods is re-exports to the UAE. Iran has its largest trade deficit with the UAE since the UAE exports or re-exports more than $9 billion worth of goods to Iran, while it imports just $1.12 billion worth.1 The UAE’s trade relationship with Iran is skewed heavily in its favour.
Summary of the Findings
Would you like to live in Dubai and prosper as an Iranian national? You can take advantage of a special package put together by Dubai Business Service!
Join one of the safest cities in the world and set up business in Dubai. It is possible to sponsor the family of someone who resides in the UAE to join you in your home country.
Whether you need a trade license, investor visa, or help with your bank account, we will take care of all your company formation needs in Dubai.
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