03/03/23

UNITED ARAB EMIRATES: Apply for visit visa, explore business opportunities in the Emirates, authorities urge investors.

As published on khaleejtimes.com, Friday 3 March, 2023.

Investors from across the world have been urged to apply for a visit visa to explore opportunities for establishing businesses in the UAE as this type of visa doesn’t need a guarantor or host.

In a statement posted on its website, the UAE's Digital Government called on investors from different parts of the world to take advantage of the digital services offered by the Federal Authority for Identity and Citizenship, Customs and Ports Security (ICP), and the General Directorate of Residency and Foreigners Affairs Dubai.

“The visit visa to explore investment opportunities enables easy entry of foreigners without requiring a sponsor or a host. It aims to encourage investors and entrepreneurs to explore business and investment opportunities in the UAE,” said the UAE Digital Government.

The visit visa is issued for a single trip, with durations of up to 4 months, including 60, 90, or 120 days.

According to authorities, there are three conditions for obtaining the visit visa to explore investment opportunities. These include the foreigner or investor must be financially solvent, talented people, or a holder of a high qualification a professional in the prospective business in his home country and fulfils the prescribed financial guarantee.

Authorities have also stated that there are three documents required for applying for the visit visa. These include a coloured personal photo, a copy of the passport, and proof of eligibility for permanent residency.

Foreign investors can apply directly to obtain the visa through the ICP’s smart channels. This is done in five steps, including filling in the required data, attaching attachments, paying the prescribed fees, evaluating the service, and finally receiving the transaction by e-mail.

If the application is returned due to a lack of some information or the failure to attach the required documents, it will be rejected electronically after 30 days.

If the visa holder is unable to enter the country within the prescribed period from the date of issuance, the validity of the visa can be extended once for a period of 60 days. In this case, only issuance fees and financial guarantees (if any) will be refunded via credit card within six months from the date of the application, or through cheque or bank transfer for banks located within the UAE only, within a period not exceeding five years.