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October 6th, 2021 
Awake Goy 
On September 5th, the United Arab Emirates Government announced a roadmap for the next 50 years. This plan is for the country’s economic, political and social growth.
The UAE created new visas to attract new talent. They will target high-skilled people, investors, entrepreneurs, top students and graduates.
Previously, Dubai announced that a new remote work visa was made available to workers from around the globe. This one-year visa allows employees to work in Dubai even if their company is based in different countries.
The new visa is similar to the virtual work programme announced in October of 2020, but now foreign nationals will not be required to have local sponsorship. The new visa allows employers to have UAE-based employees without registering or opening an office in Dubai.
As the world went into lockdown in 2020, businesses and workers had to adapt how they worked. Employees gained the time spent on daily commutes, whereas Zoom conference calls replaced brick and mortar boardrooms. Eighteen months later, it seems that the traditional 9-5 office daily routine may not return for everyone. Microsoft, Twitter and Facebook are some of the large tech companies leading the way in making remote working an organisational fixture.
Seeing an opportunity with the remote work visa, Dubai aims to attract talent and expertise from around the globe. With parts of Europe still in lockdown, moving to work in a holiday destination where restrictions are more relaxed is becoming popular. Many destinations offer similar visas and programmes, but Dubai’s tax exemptions have made it a favourite.
Requirements
Costing €510, the visa grants workers access to all the standard services that residents benefit from, including telecoms, utilities, and schooling.
You can apply for the visa on Visit Dubai’s website, provided that you meet the requirements below.
1. Passport with a minimum of 6 months validity
2. Health insurance with UAE coverage validity
3. For employees: proof of employment from a current employer with three one-year contract validity, a minimum of €4,267 per month salary, last months’ payslip and three preceding months’ bank statements
4. For business owners: proof of ownership of the company for one year or more, with an average monthly income of €4,267 per month and 3 preceding months’ bank statements.
For entrepreneurs who have their sights set for Dubai, there are many free zones where they can start their own business. Dubai’s free zones are economic areas where companies can trade goods and services, usually at preferential tax and customs rates. The first free zone, ‘Jebel Ali’ was opened in 1985 to boost international trade and attract foreign investment. Following its success, the Jebel Ali free zone created a blueprint for the other free zones to follow.
Operating in a free zone is a popular choice amongst ex-pat business owners. French native, Sabine Arnoult, told Euronews that she started her business, ‘The Cobbler’ in a free zone in order to have 100% ownership of the company. To create a company in Dubai outside of a free zone, you must have a UAE national partner holding at least 51% of the company.
Entrepreneurs come from countries with high tax rates because 100% tax exclusion is applicable for free zone companies. This includes income tax and corporate tax.
Spread out across the city there are over 30 free zones. Each one is set up to be advantageous for a defined industry. Requirements to set up a company vary from each free zone. You can find details for each free zone on the U.ae website.
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