How to Get Citizenship by Investment in UAE

The United Arab Emirates (UAE) has recently launched a new citizenship-by-investment program, marking a big change in its approach to residency and citizenship. Traditionally, the UAE had strict rules on citizenship, usually offering only temporary residence permits to foreign nationals. However, in February 2021, the UAE government made significant changes to its citizenship law, allowing eligible investors and people with exceptional talents, along with their families, to become citizens.

This new citizenship program aims to attract wealthy individuals and skilled professionals who can help grow the UAE’s economy and culture. The changes in the law show the UAE’s plan to diversify its economy and reinforce its role as a global center for innovation, business, and culture. By offering citizenship to investors and talented individuals, the UAE hopes to boost its global competitiveness.

Importance of UAE Citizenship

Getting UAE citizenship through investment comes with many benefits that can help both personal and business growth. For investors, UAE citizenship offers a safe and stable place to run businesses, along with access to one of the world’s most active economies. The UAE’s location, along with its tax-free environment and excellent infrastructure, makes it a great choice for entrepreneurs and business leaders.

For families, UAE citizenship offers many unique benefits, including the right to live, work, and study in any of the seven Emirates. The program also makes it easier for families to stay together, allowing investors to bring their spouses and children under the same citizenship status. Additionally, UAE citizenship makes it simpler to manage assets and businesses, removing many of the restrictions that foreign nationals usually face.

Overall, UAE citizenship by investment offers a special chance for individuals looking for long-term stability, growth, and success. The program provides immediate benefits and sets up investors and their families for ongoing success in one of the most advanced and forward-thinking countries in the world.

Who Can Apply?

The UAE citizenship by investment program is designed to attract different individuals who can contribute to the nation’s economic and cultural development. The eligibility criteria are divided into several categories:

1. Investors: Individuals who make substantial investments in the UAE can qualify for citizenship. Investors may choose to invest in various sectors, including public investment, real estate, or businesses. The minimum investment amount typically required is AED 10 million.
2. Entrepreneurs: This category includes individuals who own or are involved in successful business ventures. Entrepreneurs must demonstrate a track record of successful business operations and meet a minimum investment requirement of AED 500,000. They may also be eligible if they have been approved by a recognized business incubator in the UAE.
3. Talented Individuals: This category is open to individuals with exceptional talents in fields such as science, culture, art, and technology. Talents must have a proven track record of achievements and endorsements from internationally recognized organizations or authorities. This includes scientists, artists, inventors, and other professionals with significant contributions to their respective fields.

Investment Requirements

To qualify for UAE citizenship through public investment, individuals must invest at least AED 10 million. This investment can be made in different ways, such as depositing funds in a local investment fund, starting a business with at least AED 10 million in capital, or partnering with an existing company. If investing in real estate, the requirement is still AED 10 million, but at least 60 percent of this must be invested in sectors other than real estate.

Investments must be held for at least three years to show stability and long-term commitment. Applicants need to prove that the investment funds are their own and not borrowed. The investment must be self-funded, with no loans involved. This requirement ensures that the investor is financially independent and stable.

Application Process

The first step to get UAE citizenship through investment is to either start a new company or invest in an existing one in one of the UAE’s free zones. The UAE has over 40 free zones, each with its own rules and benefits. Companies in these zones enjoy tax exemptions and other perks, but they usually can only do business within the zone or internationally.

Company Incorporation

• To incorporate a company, you must complete all necessary legal procedures, including drafting the Memorandum of Association (MOA) and obtaining a Trade License. These documents establish the company’s legal framework and authorize it to operate within the free zone.
• The minimum share capital requirement varies depending on the free zone and the type of business activity. However, the investment must be fully paid-in, with a minimum value of AED 50,000.

Investing in an Existing Company

• If you prefer to invest in an existing company, you must purchase shares worth at least AED 50,000. The shares must be fully paid-in, and you will become a shareholder in the company.
• The existing company must be compliant with all legal requirements within the free zone, including having a valid Trade License and other necessary certifications.

Documentation and Legal Requirements

To complete the incorporation or investment process, you will need to provide the following documents:

• Memorandum of Association (MOA): Outlines the company’s objectives, structure, and operating guidelines. It must be drafted in compliance with UAE laws.
• Trade License: Issued by the relevant free zone authority, this license permits the company to conduct business activities within the free zone.
• No Objection Certificate (NOC): A NOC may be required from the free zone authority, confirming that there are no objections to your application.
• Health Insurance: Proof of health insurance coverage is mandatory for all applicants.
• Medical Test: A medical examination is required as part of the visa application process.

Sponsorship and Visa Application

Once the company is incorporated or the investment is made, the company may sponsor your visa. The visa application process includes several steps:

• The application for a residence visa must be submitted to the relevant free zone authority, along with all required documentation, including the MOA, Trade License, and proof of investment.
• Upon approval, you will receive an entry permit, allowing you to enter the UAE. Once in the UAE, you must complete the visa stamping process, which includes medical tests and the issuance of a residence visa.
• The residence visa is typically valid for up to three years and is renewable as long as you maintain your investment and fulfill the residency requirements.

Duration, Renewal Conditions, and Family Sponsorship Options

The residence visa is valid for three years and can be renewed indefinitely as long as you keep owning shares in the company and meet the residency requirements. You must visit the UAE at least once every 180 days to keep your visa valid. If you don’t, your visa may be canceled.

As a residence visa holder, you can sponsor your immediate family members, such as your spouse and children, for their residence visas. To do this, you need to show that you have enough financial resources, usually a monthly income of at least AED 4,000, and provide proof of your family relationship. Your family members will also receive a three-year renewable residence visa, as long as you continue your investment and maintain your residency status.

Conclusion

Getting UAE citizenship by investment is a smart option for investors, entrepreneurs, and skilled individuals who want to secure residency and possibly gain citizenship in one of the world’s most dynamic countries. The program offers benefits such as tax exemptions, the ability to do international business, and the chance to live and work in a stable, thriving environment. By meeting the eligibility requirements, making the necessary investments, and following the application process, you can access significant advantages for both personal and business growth.

The process involves starting a new company or investing in an existing one within a UAE free zone. You must meet specific documentation and legal requirements and obtain a residence visa that can be renewed indefinitely. The option to sponsor family members adds to the program’s appeal, providing a path to long-term security and success in the UAE.