A UAE business is offering entrepreneurs a five-year visa and trade licence package which offers long-term residency and corporate support at a discounted rate.
Dubbed a “silver visa” the start-up offer is available at a fraction of the price of golden visas, which can require significant financial investments.
UAE business-support specialist Virtuzone has introduced a market-first five-year residence visa and five-year trade licence package, offering entrepreneurs and businesses a ground-breaking business setup solution that offers long-term security, enhanced value, and increased savings.
UAE ‘silver visa’ package
Trade licences issued in the UAE generally have a one-year validity period while residence visas have a two-year validity period, and both documents must be routinely renewed.
Virtuzone’s first-of-its-kind five-year visa and five-year trade licence offer allows business owners to significantly save on licence and visa renewal costs, facilitate uninterrupted business operations for five years, and remove the need to invest time and resources into the paperwork and processes that come with standard renewal procedures.
The so-called “silver visa” package is available for AED59,999 ($16,300). The unique offer allows entrepreneurs to sponsor their dependents on five-year visas, ensuring their spouse, children and parents can enjoy long-term residency and security in the UAE.
Gary Thompson, Commercial Director at Virtuzone, said: “Our ethos as a company is to constantly find ways and innovative solutions that will generate substantial and long-term value for the UAE’s start-up and SME community.
“We have created this exclusive offer with the goal of giving them a means to establish their companies, sponsor their loved ones and raise their family here, and have the confidence and peace of mind that they can enjoy a secure and stable future in the UAE. Saving money is, of course, an added bonus.”
Virtuzone has also added bank account opening support and corporate tax registration to the offer, so that new business owners will not have to deal with these challenges, thus easing their entrepreneurial journey.
Opening a bank account is one of the biggest obstacles that most start-ups and new entrepreneurs face, while the country’s new corporate tax rules can seem overwhelming to both new and existing companies.
The company’s newly introduced five-year visa and five-year trade licence offer also presents investors with a more cost-effective alternative to golden visa, which can require a minimum monthly salary of AED30,000 ($8,200), a minimum bank deposit of AED2m ($544,000), or a property with a valuation of at least AED2m ($545,000).
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