In a strategic move to enhance the integrity and efficiency of the immigration process, authorities have announced significant updates to the documentation requirements for Partner and Investor visa applications. These changes, effective immediately, aim to streamline both new and renewal applications while promoting financial transparency.
Key Documentation Changes in Investor / Partner Visa in the UAE.
A pivotal addition to the application process is the mandatory submission of a **3-month corporate bank statement**. This requirement is intended to provide a comprehensive overview of a company’s financial activities, reinforcing the importance of transparency and accountability in business operations.
For newly incorporated companies, immigration authorities have allowed some flexibility. At their discretion, officials may accept a 3-month personal bank statement to accommodate businesses that have yet to establish corporate banking.
Updated Partner / Investor Visa Requirements in UAE
The updated requirements for Partner and Investor visas are as follows:
1. Minimum Share Capital: The minimum share capital has been set at AED 48,000 for both visa types.
2. Investor Visa Specifics: Applicants must be the sole shareholder of the company applying for an Investor visa.
3. Partner Visa Specifications in the UAE
Each company can issue a **maximum of two Partner visas**, with each partner required to hold at least the minimum share capital.
The specific type of Partner visa will be subject to further requirements based on individual cases.
Bank Statement Criteria for Investor/ Partner Visa
The new criteria for bank statements emphasise the necessity of demonstrating consistent financial activity. The submitted bank statement must adhere to the following conditions:
Activity Level: The statement should reflect consistent incoming and outgoing transactions, demonstrating the company’s operational viability.
Financial Strength: The account balance should ideally equal or exceed the declared share capital, indicating the company’s stability and financial capacity.
Account Type: The bank statement must originate from a UAE-based bank account under the company’s name. For newly incorporated entities, authorities may accept personal bank statements from either a UAE-based or an overseas bank
The modifications to the documentation requirements for Partner and Investor visas signify a commitment to enhancing accountability and thoroughness within the immigration framework. As these new provisions come into effect, it is essential for prospective applicants and businesses to fully understand and comply with the revised regulations. To navigate this updated landscape effectively, applicants are encouraged to seek guidance from immigration specialists and legal advisors, ensuring all documentation meets the stipulated requirements for a seamless visa application process.
