Is a Golden Visa the same as UAE citizenship?
No. A Golden Visa provides long-term residency rights but does not grant UAE citizenship. Visa holders remain citizens of their home country unless separately granted UAE nationality under exceptional circumstances.
Can I reclaim VAT on business expenses?
In many cases, businesses can recover VAT incurred on eligible business expenses, provided the costs relate to taxable business activities and appropriate documentation is maintained.
Can I work in the UAE with a Golden Visa?
Yes. Golden Visa holders are permitted to live and work in the UAE and may work for an employer, operate their own business, or pursue professional activities in accordance with UAE regulations.
Can I outsource my accounting and bookkeeping?
Yes. Many businesses choose to outsource their accounting and bookkeeping functions to reduce costs, improve compliance, and gain access to experienced financial professionals without maintaining an in-house finance team.
Can I obtain a Golden Visa with a mortgaged property?
In many cases, yes. Certain banks and financing structures may qualify, provided the property’s value and financing arrangements meet the relevant government requirements.
What is better: a Mainland or Free Zone company?
The right choice depends on your business activities, target market, visa requirements, and long-term growth plans. Mainland companies can generally trade throughout the UAE, while Free Zones may offer industry-specific benefits and potential Corporate Tax advantages for qualifying businesses.
Can a foreigner own 100% of a company in the UAE?
Yes. Most UAE Mainland and Free Zone business activities now allow 100% foreign ownership. However, certain strategic or regulated sectors may still require local participation or additional regulatory approvals.
Do I need accounting records to support a bank account application?
Many banks request information regarding business activities, expected transactions, source of funds, invoices, contracts, and financial records as part of their due diligence process.
Can I remain outside the UAE without losing my Golden Visa?
One of the key advantages of the Golden Visa is its flexibility. Unlike certain standard residence visas, Golden Visa holders can generally remain outside the UAE for extended periods without affecting their residency status, subject to prevailing regulations.