Securing Residency Visa (by Setting Up FZ Business)?

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Securing residency visa (by setting up FZ business)? Jun 09, 2008
Due to some personal/family reason, I must stay in UAE probably for very long time. At the moment I'm employed/sponsored by my current employer in DIC, but it doesn't mean I'll be unemployed, but rather to have a safeguard if something goes wrong with current company then I can switch to another job without ban or leaving the country.

Therefore I need "investor" type of residence visa, which I don't mind to pay for extension if it's not too expensive.

As far as I know, some options to secure my residency:

* invest in property : unfortunately it's beyond my budget as there's no cheap (<300K) and ready-to-posses (in order to apply for the visa) studio/1BR apartment (ANYwhere in UAE, not only Dubai). Why I need the cheapest because I may not need to live there, or I let it to someone else. First because I can't afford 1 mil apartment and second I JUST NEED THE VISA!

* setting up business (services) in freezone : this is what I want to know if ANY emirate can offer the cheapest one (first setup and yearly license extension). I don't actually need physical office or extra services. At the moment I won't run a real business as I will work for current/future employer. I JUST NEED THE VISA!

* be a silent partner in a company : I'll pay for the extra visa fee, but I need to make sure that the company will exist for long time and it doesn't cost much.

The first option, there's no cheap apt and I don't think I can afford at the moment. So I think I'll go for the second or third option. If anyone has any info about how to setup business or if anyone could provide extra visa, I'll be interested to know. Thank you.

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Jun 11, 2008
1. Consider a mortgage? While you're employed you may be able to get one. Once you leave job, bank should be fine as long as you keep up payments (and don't tell them you're unemployed). Current rental income should cover mortgage expenses on studios, 1 bedrooms. Residence visas only for completed properties usually.

2. I think you can get set up in RAK Free Trade Zone for about $25,000 (first year, maybe less for subsequent annual renewal) which gets you trade licence and residence visa.

3. Investor visa is cheap - 300 dhs - from what little information I've seen but you need 70,000 dhs invested with an Emirati partner. Sorry, I don't know much about it. Here's a summary of UAE residence visas.
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