What is the Process of Converting your Employment Visa to an Investor Visa in the UAE?

If you’re currently working in the UAE and looking to stay in the country or invest in UAE, you may be interested in converting your employment visa to an investor visa. In this article we will discuss what you need to know about the process of getting an Investor Visa in the UAE.

Step 1: Understand the Requirements

To qualify for an investor visa, you’ll need to make a significant investment in a local business, usually ranging from AED 1 million to AED 10 million, depending on the emirate you’re in. Also, you need to provide proof of your investment, such as a certificate of deposit or a letter from your bank.

Step 2: Apply for a No-Objection Certificate

Once you’ve made your investment, you’ll need to apply for a No-Objection Certificate (NOC) from your employer. The NOC confirms that your employer has no objection to you changing your visa status. This step is important because your current visa may be tied to your employment, and so you’ll need your employer’s permission to change your status.

Step 3: Apply for the Investor Visa

With your NOC in hand, you can apply for the investor visa. Furthermore, you’ll need to submit your investment documents, passport copy, and other required paperwork. You may also be required to undergo a medical exam and provide a police clearance certificate.

Step 4: Wait for Approval

Once you’ve submitted your application, you’ll need to wait for approval. The processing time can vary depending on a number of factors, but it typically takes around 30 days. Once your application has been approved, you’ll need to pay the necessary fees and collect your investor visa.

Step 5: Cancel Your Employment Visa

After you’ve received your investor visa, you’ll need to cancel your employment visa. This involves submitting a request to your employer to cancel your visa, and surrendering your original visa to the immigration authorities. Once your employment visa has been cancelled, you’ll be able to enter the country on your investor visa.

Key Takeaway

In conclusion, converting your employment visa to an investor visa in the UAE is a straightforward process, but it does require significant investment and paperwork. If you’re considering making the switch, it’s important to understand the requirements and follow the necessary steps to ensure a smooth transition. Moreover, it’s a good idea to get advice from a legal or business professional who can guide you through the process, especially if you’re interested in setting up a business in the UAE. This can help ensure a smooth transition and prevent any potential issues down the line. Skwer Group’s business setup consultants are experienced with the visa and company formation process. If you have any questions, then you may chat with us or send an email at info@skwergroup.com.