Dubai is very popular among the relatively young and affluent generation. It is a futuristic city where everlasting summer beaches and glass-walled skyscrapers are mixed next to each other. This page summarizes the information necessary to move to such a Dubai.
There are three types of long-stay visas for Dubai
Dubai is a city that is open to new residents and offers several easy-to-obtain visas.
As it turns out, there are roughly three types of visas to live in Dubai
- Entrepreneur Visa
- Real Estate Visa
- nomad visa
There are three types of Here is a brief introduction to where we stand on each of them.
Entrepreneur Visa
A visa issued when a corporation is established. The number of visas that can be issued depends on the place of incorporation.
Real Estate Visa
Visas are allocated to those who have purchased real estate of a predetermined amount or more. A 3-year or 5-year visa is issued depending on the amount of investment.
Digital Nomad Visa
Recently launched program. Open to sole proprietors who meet certain income levels. Valid for one year.
This alone does not convey the content well, so I will go into depth about each visa.
Entrepreneur Visa
If you establish a legal entity in a free zone (special economic zone) in Dubai or in the UAE, you can apply for a visa through the legal entity you have established. For example, if you establish a corporation in RAKEZ (Ras Al Khaimah Economic Zone), two visa slots will be available. Generally, one is used by the representative of the corporation and his/her family.
It is nice to know that one visa can include not only the representative himself/herself but also his/her family members. And the remaining other slot is often used by employees of the corporation and their family members.
Also, if you want to set up a domestic corporation in Dubai city (called the mainland), it is possible to increase your visa quota a little more. (We will expand our office if you want to increase your visa quota further).
Please also read the separate pages that explain how to establish a corporation, required documents, number of days required, and costs.
Real Estate Visa
One of the ways to obtain a residence visa for immigration to Dubai is to acquire a residence. Specifically, if you acquire an apartment in the Emirate of Dubai above a certain amount, you will be granted a residence visa for 3 or 5 years, depending on the amount of the apartment.
= >The duration has been extended to a 10-year golden visa starting October 2022.
Monetary requirements
Specifically, a 3-year residence visa can be obtained for the purchase of a residence worth AED 1,000,000 or more. This visa is available to the homebuyer, spouse, and unmarried children under the age of 25 (women may be over 25). Parents may also apply for a one-year family visa.
= >From September 2022 the required investment amount has been reduced to AED 750,000.
Also, a 5-year visa is available for home purchases of AED 5,000,000 or more. This also applies to spouses, children and even parents, of course.
A 10-year residence visa will be granted as a golden visa starting October 2022. The required investment amount is now also AED 2,000,000.>.
Property available for AED 1,000,000
Currently, condominium prices in Dubai are similar to those in central NY, but prices are increasing every year. Please contact us if you are interested.
Digital Nomad Visa
The newly established visa for freelancers, the Digital Nomad Visa (Remote Work Visa) (English name: Work remotely from Dubai), is an easy and inexpensive visa.
In the post-coronation society, remote work is becoming a major part of society. It may not be impossible to work for a company in Tokyo and reside in Dubai.
Dubai Nomad Visa Requirements
To obtain a visa under this program, you must prove that you have earned USD5,000 or more for three consecutive months from your main job. You will also need to submit proof of employment to prove that you will continue to be employed for the next one year.
Dubai Nomad Visa Fees
The visa period is one year and the cost will be USD611. If you would like to request support from a vendor, an additional fee will be required. (We also have support available, please contact us for more information)
Digital Nomad Visa Notes
I believe that payments from the US to freelancers residing abroad were subject to 20% withholding. The tax rate on the Dubai side is 0%. Please ask your tax accountant for details.
For this reason, we recommend establishing a legal entity in Dubai. (There is no withholding tax on payments made to the corporation.)
What are the taxes in Dubai?
Brief explanation of corporate tax, income tax, consumption tax (value-added tax), inheritance tax, tax on FX, tax on stock trading, and tax on virtual currency. (Please ask your tax accountant for details.)
corporation tax
Effective June 1, 2023, corporate income tax will be 9% on profits above AED 375,000; no tax will be imposed on profits below AED 375,000. Free zone corporations that meet the conditions will continue to be taxed at the 0% rate.
income tax
Income tax remains at 0%.
VAT (Value Added Tax)
This tax corresponds to the consumption tax in Japan, and the tax rate is 5%.
inheritance tax
Inheritance tax is 0%.
Taxation of FX capital gains
It is not taxed. 0%.
Capital gains tax on stock transactions
It is not taxed. 0%.
Taxation of Virtual Currency Transactions
It is not taxed. 0%.
How to form a corporation in Dubai
The most popular method of obtaining a visa for immigrants to Dubai is through incorporation.
Please refer to our other page for details on how to incorporate in Dubai.
How to rent a house in Dubai
As of October 2022, Dubai real estate is yielding surface yields of 5-10%, and the market looks better for buying than for renting. One of the unusual aspects of purchasing Dubai real estate is that loans are available even to non-residents.
For example, the largest off-plan (new construction) by EMARR has a 10% down payment, 40% during construction, and 50% after delivery. This is possible because the real estate market in Dubai is very booming, and even if a buyer cannot pay the loan, another buyer will be found immediately.
Bank loans are also available for non-residents up to about half of the purchase price of the property.
Please feel free to contact our real estate staff for more information about Dubai real estate.
