If you’re considering setting up your own business in Dubai and are also interested in obtaining a UAE residence visa, then look no further. This article will provide you with all the information you need to know on how to achieve both of these goals simultaneously. DBS Business Setup, a renowned company formation and consultancy service provider based in Dubai, offers a wide range of services including business registration, pro services, corporate bank account opening, VAT registration, and more. By following their expert advice and guidance, you can successfully navigate the complexities of starting a business in Dubai and secure a UAE Residence Visa.

Business Setup Services in Dubai and UAE

How to Get a UAE Residence Visa While Setting Up a Business in Dubai

Business Registration in Mainland

Setting up a business in the mainland of Dubai or any other emirate in the UAE requires compliance with certain regulations and obtaining the necessary licenses. This process involves various steps, including submitting the required documents, fulfilling specific criteria, and obtaining approvals from government departments. Business registration in the mainland allows you to operate locally and target the domestic market.

Free Zone Company Formation

Dubai and the UAE offer numerous free zones where businesses can establish their operations. Free zones provide various advantages, such as 100% foreign ownership, exemption from corporate and personal taxes, and simplified procedures for company formation. Each free zone has its own regulations and benefits, so it’s essential to research and select the most suitable one for your business needs.

Offshore Company Formation

Offshore company formation in Dubai and the UAE is ideal for businesses looking to operate internationally and enjoy tax advantages. Offshore companies have minimal to no restrictions on ownership and can conduct business activities outside the UAE. These companies are often used for holding assets, international trading, and tax planning purposes.

How to Get a UAE Residence Visa While Setting Up a Business in Dubai

Getting Approvals from Government Departments and Authorities

Setting up a business in Dubai and the UAE requires obtaining approvals from relevant government departments and authorities. These approvals may include obtaining trade licenses, visas, permits, and certifications, depending on the nature of your business activity. It is crucial to understand the specific requirements and ensure compliance to avoid any legal complications.

Corporate and Business Bank Account Opening

Once your business is set up, opening a corporate or business bank account in Dubai or the UAE is essential for managing financial transactions. Different banks have varying requirements and documentation processes for account opening. It is advisable to seek professional advice to choose the most suitable bank that aligns with your business requirements and complies with the Central Bank of the UAE guidelines.

VAT Registration and Filing Services

Value Added Tax (VAT) registration and filing is mandatory for businesses operating in the UAE under certain conditions. The UAE implemented VAT in 2018, and businesses need to register for VAT, maintain records, and file periodic VAT returns. VAT compliance is crucial to avoid penalties and ensure smooth operations within the UAE’s tax framework.

How to Get a UAE Residence Visa While Setting Up a Business in Dubai

UAE Corporate Tax Registration and Filing

While the UAE does not impose corporate tax on most businesses, certain activities may be subject to corporate tax. Registering for corporate tax and fulfilling tax filing requirements is essential to comply with the UAE tax regulations. Seeking professional assistance ensures accurate tax compliance and optimizes your business’s tax obligations.

Process of Obtaining a UAE Residence Visa

Eligibility Requirements

To obtain a UAE residence visa through business setup, you need to meet specific eligibility requirements. These requirements include:

Minimum Age Requirement

You must be at least 18 years old to be eligible for a UAE residence visa.

Passport Validity

Your passport should be valid for at least six months from the date of application for a residence visa.

Medical Fitness Certificate

Undergoing a medical fitness test and obtaining a certificate confirming your good health is required for visa processing.

Good Conduct Certificate

A good conduct certificate, also known as a police clearance certificate or a character certificate, is required to demonstrate your good behavior.

Financial Requirements

You need to meet the financial requirements set by the UAE authorities, which may include maintaining a minimum capital investment in your business or demonstrating a specific level of personal financial resources.

Choosing the Right Business Setup Consultant

Selecting a reliable and experienced business setup consultant is crucial to ensure a smooth and efficient process of obtaining a UAE residence visa. Consider the following factors when choosing a consultant:

Researching and Shortlisting Consultants

Conduct thorough research and create a shortlist of business setup consultants based on their expertise, reputation, and track record.

Checking Experience and Expertise

Ensure that the consultant has experience in facilitating UAE residence visa applications and has expertise in the specific requirements for your chosen business activity.

Evaluating Client Testimonials

Read client testimonials and reviews to determine the consultant’s reputation and the quality of their services.

Considering Cost and Value for Money

Compare the cost of services offered by different consultants and assess the value they provide in terms of expertise, efficiency, and customer support.

Meeting in Person for Consultation

Schedule a consultation meeting with the shortlisted consultants to discuss your requirements, clarify any doubts, and assess their professionalism and ability to meet your needs.

Selecting the Appropriate Business Structure

Choosing the right business structure is crucial for the success of your business and for obtaining a UAE residence visa. Consider the following factors when selecting a business structure:

Deciding Between Mainland, Free Zone, or Offshore

Understand the advantages and limitations of each business structure – mainland, free zone, or offshore – to make an informed decision based on your business goals and requirements.

Understanding the Pros and Cons

Evaluate the pros and cons of each business structure in terms of ownership restrictions, tax implications, operational flexibility, and business activity limitations.

Analyzing Business Activity and Market Presence

Consider the nature of your business activity and its feasibility in the chosen business structure, taking into account customer base, target market, and competition.

Considering Future Expansion Plans

Assess your future expansion plans and determine whether the chosen business structure allows for scalability and diversification of business activities.

Consulting with Business Setup Experts

Seek advice from business setup experts who can guide you in selecting the appropriate business structure based on your specific requirements, helping you maximize the benefits and minimize potential challenges.

Business Activity Selection

Choosing the right business activity is a critical step in obtaining a UAE residence visa. Consider the following factors when selecting a business activity:

Identifying Suitable Activities for the Business

Identify the activities that align with your business goals, strengths, and expertise. Research market demand and evaluate the potential profitability of each activity.

Complying with UAE’s National Classification of Economic Activities (NCEA)

Ensure that the chosen business activity is compatible with the classifications listed in the UAE’s National Classification of Economic Activities.

Analyzing Permitted Activities in Chosen Business Zone

If you are establishing your business in a specific free zone or mainland region, check the list of permitted activities for that particular zone to ensure your chosen activity is allowed.

Checking Zoning Regulations and Restrictions

Understand any zoning regulations and restrictions that may affect your chosen business activity. Certain activities may be limited to specific areas or require additional approvals.

Seeking Professional Advice if Necessary

If you are unsure about the suitability of your chosen business activity or need assistance in navigating the regulations, consult with business setup professionals who can provide expert guidance.

Company Name Reservation

Reserving a unique and acceptable company name is an essential step in the business setup process. Follow these steps for company name reservation:

Preparing a List of Desired Company Names

Create a list of preferred company names, ensuring they align with the rules and regulations of the UAE.

Checking Availability and Acceptability

Verify the availability and acceptability of the chosen company names through the Department of Economic Development (DED) or relevant authorities.

Submission to Department of Economic Development (DED)

Submit the list of desired company names to the DED for review and approval.

Paying the Name Reservation Fee

Pay the required name reservation fee to secure the chosen name.

Obtaining the Name Reservation Certificate

Upon successful approval, you will receive a name reservation certificate, allowing you to proceed with the company setup process.

Memorandum of Association (MOA) Preparation

The Memorandum of Association (MOA) is a crucial legal document that outlines the company’s key details and establishes the rights and responsibilities of shareholders. Follow these steps for MOA preparation:

Drafting the MOA Document

Prepare the MOA document with the assistance of legal experts, ensuring it contains all the necessary information according to UAE laws and regulations.

Defining Shareholders, Share Capital, and Ownership Structures

Clearly define the shareholders, their ownership stakes, the share capital structure, and the distribution of profits and losses.

Documenting Business Objectives and Activities

Outline the objectives, activities, and nature of the business in detail, adhering to the permissible business activities within the selected business structure.

Including Details of Company Management and Board

Include the details of the company’s management team, the board of directors, and their roles and responsibilities.

Notarizing the MOA Document

Notarize the finalized MOA document through the relevant authorities to ensure its legal validity.

Office Space Selection

Choosing the right office space is crucial for meeting the requirements of your chosen business structure and obtaining a UAE residence visa. Consider the following when selecting office space:

Considering Business Zone Options

Evaluate the available options for office space within your chosen business zone, considering factors like location, accessibility, and facilities.

Analyzing Costs and Facilities

Assess the costs associated with different office spaces, keeping in mind your budget and the facilities required for your business operations.

Checking Infrastructure and Amenities

Ensure that the office space has the necessary infrastructure, such as internet connectivity, utilities, and security systems, to support your business needs.

Meeting Space Requirements

Consider the space requirements for your business, such as the number of employees, meeting rooms, and storage areas, and ensure that the chosen office space can accommodate these needs.

Visiting Preferred Office Locations

Visit the shortlisted office locations personally to evaluate their suitability, ambiance, and compatibility with your business requirements before finalizing a lease or purchase.

Applying for Entry Permit and Visa

Once you have completed all the necessary steps for business setup, you can proceed with obtaining an entry permit and UAE residence visa. Follow these steps:

Preparing Required Documents

Compile all the required documents, such as passport copies, photographs, MOA, lease agreement, and health certificates, necessary for visa application.

Submitting Application to General Directorate of Residency and Foreign Affairs (GDRFA)

Submit the visa application and supporting documents to the GDRFA or relevant authorities for processing.

Paying Visa Fees

Pay the applicable visa fees as per the current regulations and guidelines.

Undergoing Medical Fitness Test

Undergo a medical fitness test at an approved medical center and obtain the certificate to fulfill the visa requirements.

Completing Biometric Enrollment

Attend the biometric enrollment appointment to provide your fingerprints and biographical information, which are essential for identity verification.

By following these steps and working with reputable business setup consultants, you can successfully obtain a UAE residence visa while setting up a business in Dubai. Remember to adhere to the relevant regulations and seek professional guidance whenever necessary to ensure a smooth and efficient process.

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