Dubai Lawyers: August 2019

Sunday, August 18, 2019

UAE's first golden card visa holders

The Golden Card visa is among the latest initiatives of the United Arab Emirates (UAE) government to attract more investors, brilliant people, and expert professionals to come and live in their wealthy country. After the announcement of the gold card issue to UAE residents, thousands of people have been identified to benefit from this visa scheme.

But first, you might ask, what is the Golden Card visa?

Initially, the Golden Card visa caused some confusion among people. Since the specific terms and conditions of the visa are still being finalised when it was announced, some details are not yet clear.

Now that’s Golden Card visa is officially available, people are now discovering what it is all about.

Basically, Golden Card visa holders would qualify for either a 10-year visa or five-year visa. According to Decree no. 56 of 2018, there are three categories of residency permits within the Golden Card visa. These include special talents, entrepreneurs, and investors.

Those who qualify for a 10-year visa are those who have invested at least Dh10 million in the UAE. Entrepreneurs and people with special talents would quality for a five-year residency. If you need more help in understanding the Golden Card visa, lawyers in Dubai will give you the information needed.

Last May of 2019, a list of possible beneficiaries of the Golden Card visa was released. It identified around 6,800 expatriates from more than 70 countries.

Since the availability and issuance of the Golden Card, there are now people who have taken advantage of it.

Perhaps, the most notable person who acquired the Golden Card is the person who first obtained it – Yusuff Ali.

Yusuff Ali is the managing director and chairman of the Lulu Group. He is known to be the retail king of the Middle East for putting up a chain of hypermarkets throughout the region. Not only that, but he is among billionaires on Forbes’ list of wealthiest people in the Middle East.

Since then, other people have been the recipient of the Golden Card visa. According to the Dubai news, here are some of them:

Vasu Shroff, the chairman of the Regal Group of Companies
Khushi Khatwani, managing director of the Khushi Group of Companies
Azad Moopen, managing director of the Aster group
Rizwan Sajan, Danube Group Chairman
Dr. Shamsheer Vayayil, VPS Healthcare chairman
Firoz Merchant, Pure Gold Group chairman
And others.

Are you planning to set up a company in the UAE?

Check out some informative articles that may help you with your planning.

For a quick and easy process of company formation contact or visit us today!

Sunday, August 11, 2019

Freelance Permit Or Trade License

When starting a business in the UAE or Dubai, you will be confronted with two options: to get a trade license or freelance permit. The difference between the two options is immense and what you choose could affect your business venture to establish in the future. A commercial lawyer in Dubai highly recommends that you first understand the difference between a trade license and a freelance permit.

Company Formation in UAE

What is a trade license?

A trade license allows you to conduct import, export, and trading services in the UAE. It allows you to access UAE’s diverse industries.

If you wish to apply for a trade license, you would need to first determine the legal structure and name of your company. Next, decide what business activities your company would undertake. Apply for initial approval and once you get a confirmation, you can then register your company and start working.

If you need help in getting a trade license, you might want to seek the help of legal consultants in Dubai.

What is a freelance permit?

A freelance permit allows you to work as a sole practitioner in the UAE. As the name suggests, working as a freelancer means you would be working alone. Freelancing is a common way of starting a business in the UAE.

Setup cost

Between freelance permit and trade license, the former is expected to be inexpensive. The yearly fee for a freelance permit is Dh7,500. If you need a visa to complement your license, you might need to spend another Dh3,250.

On the other hand, a trade license could cost around 15,000 AED to 50,000 AED depending on your business.

Thus, if you don’t have a huge starting capital, you might as well settle for a freelance permit first.

Number of employees

As mentioned above, a freelance permit allows you to work alone, but it won’t allow you to hire other employees. If you want to go solo, then a freelance permit is the way to go.

However, if you are planning to expand your business, then a trade license is needed. Thankfully, there’s an option where you can upgrade your freelance permit to a trade license in the event that you want to take on staff in the future.

You can speak to business setup consultants in Dubai to know exactly how to accomplish this.

Are you planning to set up a company in the UAE?

Check out some informative articles that may help you with your planning.

For a quick and easy process of company formation contact or visit us today!

Sunday, August 4, 2019

What are the requirements for a 10 years residence visa in the UAE

With the aim to attract more investors and talents, the UAE has issued the Golden Card visa, which allows holders to stay in the country for ten years and renew it accordingly. Since its launch, hundreds of people are applying for it with dozens getting approved each day. Adding productive and valuable people are deemed to encourage more company formation in UAE.

If you are wondering how you can qualify for a 10-year residence visa in the UAE, particularly in Dubai, then you would need to continue reading this post.

Requirements for foreign investors

Investors seeking for a 10-year residence visa need to invest at least AED 10 million. Now, this amount shouldn’t be loaned. The investment should also stay in Dubai for at least three years. The investor should have a financial solvency of up to AED 10 million.

If you need more help in understanding the visa’s requirements, you might want sit down and speak to a commercial lawyer in Dubai.

The investment of AED 10 million can take different forms. Depending on the investor, it could be one of the following:

Deposit the money in an investment fund within the UAE.
Start a company in the UAE with a capital of at least AED 10 million.
Invest in an existing company.

Moreover, the 10-year residence visa can be extended to spouse and children of the primary holder. Not only that, but it can also be extended to the holder’s business partners, advisor and executive director.

Requirements for people with specialised talents

Business Setup in the UAE

If you are a doctor, scientist, specialist, artist in the field of culture and art, researcher, or any person with specialised talent, you might be qualified for the 10-year residence visa.

If you have questions with your eligibility, seeking the help of legal consultants in Dubai could be a wise decision.

There are different conditions you might need to meet first before you can enjoy a longer stay in the UAE.

A scientist who holds a Mohammed Bin Rashid Medal for Scientific Excellence or is accredited by Emirates Scientists Council could apply for the said visa.

For creative individuals in culture and arts, they must be accredited by the Ministry of Culture and Knowledge Development.

Inventors wishing to apply for the visa should have a patent of great value from the Ministry of Economy.

For doctors and specialists, they should meet at least two of the conditions mentioned below:

A PhD degree from a top university
An important award or distinction in their field
Published a scientific book
Member of a distinct organization in their field
10-year professional experience
Has a specialisation in one of the areas of priority in the UAE

Getting more professional help

The Golden Visa card or 10-year residence visa provides an opportunity for investors to enter the UAE economic market. Establishing a business in this wealthy nation can bring more revenue to your company.

If in case you are planning to stay in Dubai, apply for a visa, and start a business, then you would need expert advice to guide you through the process.

Thankfully, you have Motei & Associates to help you. They have some of the best business setup consultants in Dubai who have the right knowledge and experience to ensure you don’t commit costly mistakes. Give them a call today and see how they can help you become a huge success!

Are you planning to set up a company in the UAE?

Check out some informative articles that may help you with your planning.

For a quick and easy process of company formation contact or visit us today!