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A Step-by-Step Guide to Gaining Residency Through Company Set-Up

Introduction:

Obtaining residency in Dubai is a goal for many aspiring entrepreneurs and investors worldwide. The city’s strategic location, thriving economy, and favorable business environment make it an attractive destination. One popular route to gaining residency is through setting up a company. This article offers a detailed, step-by-step guide on achieving Dubai residency via this path.

Step 1: Determine Your Business Type and Select a Jurisdiction

To initiate your business establishment in Dubai, pinpointing the precise nature of your business is essential. Your selection between mainland, free zone, or offshore jurisdiction will influence not just your business operations but also your eligibility for Dubai residency.

Step 2: Navigate Through Business Registration and Licensing

Incorporating a business in Dubai involves registering a unique business name that adheres to the city’s naming conventions. The type of business license you need, whether commercial, professional, or industrial, is dependent on your business activities. Adequate documentation is key to facilitating swift approvals from the relevant regulatory bodies.

Step 3: Apply for Dubai Residency Visa

With your business established, the next step is applying for a UAE residency visa. Ensure that your stake in the business aligns with the eligibility criteria. Undergo the required medical tests and a biometrics appointment. Once approved, you will be stamped with the visa, granting you official residency.

Step 4: Obtain Your Emirates ID

The Emirates ID is an essential identification document needed to access various services in Dubai. Apply for it promptly upon receiving your residency visa, ensuring all your identification and visa documents are readily available.

Step 5: Open Personal and Corporate Bank Accounts

Bank Choice:

Select a bank that aligns with your business needs and complete their specific application procedures.

Document Submission:

Submit all required documents. The document requirements vary among banks but generally include a business license, shareholders’ passports, and business plan.

Step 6: Sponsor Family for Residency (if applicable)

If you wish to bring your family to Dubai, assess the eligibility criteria focusing on income and accommodation requirements. Navigate through the family visa application process, adhering to the stipulated guidelines and providing all necessary documents.

Key Considerations:

Renewal:

Keep in mind that the residency visa obtained through company setup typically lasts for 2-3 years and is renewable as long as the company remains operational.

Regulations:

Stay informed about the latest regulations and requirements for business setup and residency to ensure compliance and a smooth process.

Conclusion:

Obtaining residency in Dubai through company set-up offers a golden opportunity to immerse yourself in a world of business prospects while relishing the luxurious lifestyle of this illustrious city. Each step, from business incorporation to visa application, brings you closer to becoming a part of Dubai’s esteemed economic landscape. For tailored assistance, feel free to reach out to our expert consultants, dedicated to turning your Dubai business and residency aspirations into reality.

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