HOW TO SETTLE WELL IN DUBAI
Why should you choose Dubai?
Dubai is a place that presents incredible thing to everyone – from a line-up of great entertainment, sunny beaches, fancy restaurants, warm winter, no income tax, high salaries, and generous packages. Dubai has been very humble to many foreigners who have considered it home. That is the cause Dubai is placed at 6th best city for expatriates.
Expat Workers Have High Earning Potential
High-class of life and High salaries are the main reason that many foreigners choose Dubai. According to a research, in the UAE around majority of foreigners earn higher wages than in their homeland. As compared to their global complement foreigners living in UAE receive more benefits such as, mandatory healthcare and annual grant for flights.
In Dubai most of the jobs available in private sector are open for international workers, and around 85% of the residents are foreigners. Packages and salaries differ by employer, industry, and the skillset the worker must present. Here is a list of average monthly salaries in 2021:
- Graphic Designer ~ AED 15,000 • Sales Account Executive ~ AED 17,000 • Investment Banking Analyst ~ AED 20,000 • Civil Engineer ~ AED 25,000 • Property Manager ~ AED 12,000 • Store Manager (Luxury) ~ AED 17,500 • Hotel General Manager ~ AED 40,000 • Head of Marketing ~ AED 42,000 • HR Director ~ AED 55,000 • Chief Financial Officer ~ AED 57,000
Obtaining a Residence Visa
Most foreigners will come to Dubai on work permit supported by the employer or on a tourist visa.
Obtaining tourist visa is relatively easier. Free visas are offered by UAE on entrance to travelers of 60 nationalities for 90 or 30 days which depend on their nationality.
An entrance permit can be applied by a sponsor for other nationalities, who can be a – UAE resident, a travel agent or local hotel, an Emirati national, a UAE-based airline, a company, or a government entity. Usually, what is needed is a copy of the passport with 6-month validity. For further information on visa and entry permits, visit the official website of the UAE Government.
Foreigners can meet the criteria for long term visas if they are professionals in medicine, entrepreneurs, technical professionals or research, science, academically gifted or recognized creative talents, or if they invest in the country. Moreover, Retirees with 55+ ages can also get the long-term visa.
Those researchers thinking to relocate to UAE can go for a single visit visa for 180 day, to visit and observe possible opportunities.
UAE Government declared a “golden card” or permanent nationality scheme in Mid-2019, for investors with high-net-worth. Noteworthy investors were recognized with AED 100 billion in investments as qualified for the permanent citizenship.
General overview is provided below for 5 long terms to medium visa types. Please keep in mind that visa policy is updated quiet often; before traveling it would be best if you check the most recent rules through consulate or UAE embassy.
Types of residence visas in Dubai
- Visa / Work Permits supported by an Employer
Foreigners who come on work sanction will go through a medical checkup to make sure they are HIV free, tuberculosis and medically fit. They will need to present their biometrics to get Emirates ID and residence visa. The pace of the procedure usually depends on whether there are any public holiday at the time of submission and the efficiency Public Relations Officer (PRO) at the company.
Residence visas duration can range from 1 to 3 years, provided by employers. Foreigners who meet the essential criteria for salary and hold a residence visa can submit an application for residence visas for their family members. A few extra conditions may be valid for sponsoring a nanny or maid.
- Long-term and Medium Investors Visas
Recently UAE government has launched a long-term visa for investors who are from other countries. There are 3 types of investor’s visas:
- Residence visa for 3-year – foreigners who will invest an amount of AED one million or more in freehold residential real estate and is ready to live in, is eligible for a renewable residence visa for 3-year (earlier, this was a 2-year visa).
- Residence visa for 5-year – foreigners who will invest an amount of AED five million or more in a real estate can meet the criteria for a residence visa of 5-year. The money invested in real estate should not be loan, and the real estate should be hold for no less than 3 years.
- Residence visa for 10-year – foreigners who will invest an amount of AED ten million or more in the UAE through a established company, deposit, real estate or business partnership will be qualified for a renewable residence visa for 10-year. But 60% of the investment should be in other field rather than property. The money invested in real estate should not be a loan, and the investment must be hold for no less than 3 years.
While applying for the long-term visa Foreigners can come into the UAE for a 6-month time with several entries.
- Entrepreneur Visa for Long-term
Entrepreneur visas for long-term are latest as well and entrepreneurs should fulfill one of the subsequent conditions to be qualified for the 5-year visa:
- If an entrepreneur have an earlier project with at least of AED 500,000
- Qualified business incubator in the United Arab Emirates has approved the entrepreneurs
- Long-term visa for Students and Special Professionals
For this latest kind of 10-year visas, the professionals listed below are qualified, if they fulfil certain requirements around accreditation, education, and accomplishment (such as contributions to publications or patents or major research, awards, membership in esteemed organizations). Candidate must have an official employment agreement in a particular field of concern in the United Arab Emirates.
- Creative talents in culture and art • Scientists • Professionals in science, medicine, technical fields, and research • Doctors & Specialists
Visas for 5-year can be applied by exceptional students if they meet the requirements associated to their evaluation. The requirement is that when graduating they should have a university GPA of 3.75 or higher and 95% in secondary school.
- Visas for Retiree
According to new changes in visa scheme, foreigners can now meet the criteria for visas after retirement. Foreigners who have age of more than 55 are qualified for this 5-year renewable visa if they fulfill any one of the subsequent conditions:
- If you have investment of amount AED 2 million or more in real estate
- If you have savings of amount AED 1 million or more
- If you have at least AED 20,000/month of active income
Visas for long-term consist of the children and spouse of the financier, student or entrepreneur, and executive are also included in some cases. The visas will renew automatically for 5 and 10-year.
Ease of Doing Business
Over the past few years, a series of reforms have helped the UAE set up itself as a preferred destination for businesspersons and investors. The World Bank lists UAE as the 25th finest place to start a business and as the 11th country in terms of easiness for doing business.
The ease of business ranking considers ten criteria including resolving insolvency, enforcing contracts, registering property, starting a business, and trading across borders.
While visa policy relates to the country, policy about creating businesses differ across each emirate and even across the free zones and mainland.
Mainland Dubai versus Free zone
In Dubai, in partnership with an Emirati, foreigners can decide to set up their business on the mainland or they can choose for 100% foreign ownership and set up in one of the many free zones the city propose. Where to set up the business (whether in the free zone or mainland) will be decided on the type of the business. Normally, it is a lot quicker and easier for setting up in a free zone.
Talk to the Department of Economic Development (DED) in Dubai for understanding the procedure of creating a business and gaining a license to operate from the DED and types of business actions that must be set up in the mainland. DED online customer support can be hugely helpful in responding to questions as well as more DED services are becoming available online.
Some of the key variation between free zones and mainland turn around the following:
• Amount of office space required (this control the amount of visas that can be gained) • Approval from authorities • Eligible business activities • Geographic scope of business • Number of visas that can be obtained for employees • Ownership rules