UAE announces new entry and residency rules

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calnana

New member
Do banks prefer “normal” company sponsored visas over golden visas when it comes to stuff like crs? Or are you considered uae tax resident (from the bank’s point of view) with both visas?
 

KDX

OffshoreCorpTalk Addict
Entrepreneur
Does this change anything? It seems that so many of those visas have high requirements compared to the current scheme of forming a FZ entity.. Is there some kind of catch here?

@Fred Do you think there will be changes to the residency by FZCO formation?
 

Fred

Dubai Expat
Mentor Group Gold
Elite Member
Commercial Service
Entrepreneur
Too early to say anything.

In fact the designation on the Visa remains the same - employee, investor etc. per definition investor doesn't have salary - high risk for the banks on source of funds and takes longer to open personal bank accounts.

The validation period of the Residence Visa is for sure no indication a bank is following - it's the comfort of instead of every 3 years to make the renewal every 5 years - that's it.
 

azb1

Entrepreneur
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calnana

New member
In fact the designation on the Visa remains the same - employee, investor etc. per definition investor doesn't have salary - high risk for the banks on source of funds and takes longer to open personal bank
This is exactly the important point to be aware of. Getting a 5/10 year golden visa through investment sounds attractive, but not if it will making banking more annoying or mess with your current set up (that’s working just fine).

If they allow you to keep the designation your current setup already provides, then it’s another story.
 

JohnDones

Active Member
Too early to say anything.

In fact the designation on the Visa remains the same - employee, investor etc. per definition investor doesn't have salary - high risk for the banks on source of funds and takes longer to open personal bank accounts.

The validation period of the Residence Visa is for sure no indication a bank is following - it's the comfort of instead of every 3 years to make the renewal every 5 years - that's it.
Do you mean the investor doesn't have a salary from a FZ company? But can have foreign salary?
 

clemens

Corporate Services
Mentor Group Gold
This is like the increase of corporate taxes in June - you need a lot of details to understand and comply
that is true but it would be of interest to learn how this works in real live. What I believe it that the official written laws and the reality are two different things.
 
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