LanPie

Is it possible to get a residency visa by investing in the UAE either through starting up a business or investing in a current business? I've look around the net and I can't make heads or tales of whether this is possible, I found plenty on residency through property purchases (which I don't think is in operation anymore or I could have misunderstood the resources I read) however I found relatively little on residency through actual investments.

Is it possible to do? and if so, can it be done by incorporating a business in a free zone, putting the required capital for the business then use the business as a investment holding company (I already own a few UAE stocks so I'd transfer them over and buy more under the company if required)?

Hope someone can help. Many thanks

Kix

Yes, set up a company in a freezone and you get x number of resident visas.

Simples.

LanPie

Ah that is great

Does it matter in what free zone I incorporate if I were to live in Dubai as I'm looking at RAK and their options which look quite appealing

Also if I were to want to find a job down the line, would I need to do anything extra regarding residency or would the fact I got residency through a business be enough?

Thanks

NorthernLad

You sound like a bank robber on the run. Or a money launderer.

Bahtatboy

Yes, but although helpful those qualifications aren't absolutely necessary.

LanPie

I'm neither of those things, I just love Dubai when I visit my friends out there and as I have receive a decent enough income from investments in Europe, if I can get a residency visa for Dubai then why not move there for a few years?

Kix

No it doesn't matter what free zone it is, you'll get a residency permit from the emirate your free zone is in. At least m pretty sure you do.

If you got a job just transfer your visa to the new company.

Simples.

LanPie

Ah that is good

Also good

It really does seem to be too simple I guess I'll hop to it and hope for the best, might be out there in time for the New Year

I suppose I'll have to work out my tax affairs UK side once I leave, mainly personal share holdings (the family company being my main source of income), I presume I'll be taxed on them UK side still?

Kix

No idea, our local guru on all things cute, cuddly and jammy (and the odd bit of financial advice) is Meow.

Saj786

Hi LanPie,

I know some good people who can assist with setting up company / obtaining residency visa's - drop me a line if interested.

Kix

I think every single one of us does - and a quick google search will cut out all the middlemen.

LanPie

I'm okay thank you, I am getting to grips with doing it all although I have to plan an earlier trip out there so I can sort out business banking once everything else that needs to be done is sorted

Thanks for everyones help

Kix

Usually when you speak with your free zone people they will sort out the bank account to. Usually.

FriendlyExpat

Drop me an private message if interested and I can put you in touch with people capable of setting up the legal side of things.

Meow

If you require a business bank account here, then naturally you will require a local business to be in place.

As to your liability in UK investment income, well that depends on a) your residency status b) how long you remain UK non-resident for tax purposes and c) how your investment are set up and where income is paid.

c is complicated, but there may be ways of reducing liability to UK tax (all legitimately) with proper advice.