More than 40 interdisciplinary free zones exist in the nation, and both foreign and local investors are welcome to hold 100% of businesses there.
According to Khaleej Times, the UAE has decreased the three-year validity of freezone visas to two years. Agents from typing centres and experts for business setup have confirmed the development.
Since the new UAE visa reforms were implemented in October of this year, the new validity period has been in effect.
While mainland visas have a two-year validity, freezone visas previously had a three-year validity. The duration of work permits has now been standardized by the UAE government.
“As per latest upgrades, the validity has been lowered from three to two years,” a customer service representative from the Federal Authority for Identity, Citizenship, Customs and Ports Security (ICP) revealed.
Clients have received circulars from the freezone authority notifying them of the change.
Previously awarded visas are still valid for three years. A business adviser claimed that the validity period for all new ones would be two years.
Even visa applications that are pending are subject to the new restriction.
“Even though you have just completed the final step of the e-sticker processing for a new visa and your Emirates ID application has been granted for three years, the visa will still be processed and will only be valid for two years,” a freezone authority wrote in a customer email.
“The aforementioned is relevant to new requests for employment visas (from inside and outside the nation) as well as visa renewals.”
Another authority said that the “third year” visa payment had been returned to business partners.
The cost of visas would increase slightly, which will require some financial changes for many people, according to Abdul Gafoor, general manager of Al Mas Businessmen Service. “The term of visas for mainland company partners has also been shortened to two years. Although it is not a significant adjustment, businesses will need to account for the higher cost in their future planning.”
More than 40 specialized free zones exist in the UAE, and they permit foreign investors and expatriates to hold 100% of businesses. These zones, which are governed by a distinct set of laws and restrictions and provide residents with far greater flexibility and lower rates, are very well-liked.
According to Sharon Fernandes, who has a RAK free zone license for her marketing company, she prefers it over a mainland license. In terms of government sponsorships and services, “[the] free zone makes it easy to do business, and there is also no need [for] office space in some circumstances,” she noted. Additionally, it costs a lot less than mainland licenses. That is the reason I chose to establish myself in a free zone.
Sharon is reconsidering her visa position in light of the revised visa regulations. She said, “I am now on my husband’s visa, but I’m thinking about moving to a free zone visa next year. But now I’m going to go back to the drawing board and figure out the cost variables.”
Having stated that, in accordance with local law, I will unquestionably grant my staff members freezone visas. Although the price may be a little high, the UAE is unsurpassed for commercial convenience.
The largest visa ever issued by the UAE and entry reforms, including the introduction of a Green Visa for skilled workers, independent contractors, and investors, were part of the new Advanced Visa System that went into force on October 3.
The self-sponsored five-year residency programme has many advantages. The top talent in the UAE is designed to be drawn in and kept there.
The visit visa permits have also undergone a number of adjustments. With the new visas, you can stay for 60 days instead of the previous 30 days. A five-year multiple-entry tourist visa that doesn’t require a sponsor has also been introduced. Visitors who have a bank balance of $4,000 will be able to stay in the UAE for 90 days straight as a result of this.
