New Entrepreneurship Visa to UAE

From The National UAE:

A new category of visa for entrepreneurs hoping to start a business in the UAE will be introduced.

Noura Al Kaabi, the chief executive of twofour54, and a member of the Federal National Council, made the disclosure during the opening address of the Arabnet Digital Summit 2014 in Dubai yesterday.

“The introduction of an entrepreneurship visa will allow entrepreneurs to set up a presence out of twofour54 without the need for a physical office,” Ms Al Kaabi said.

This is the latest move to boost entrepreneurship and assist start-ups, in a country where small and medium-size enterprises employ 90 per cent of the workforce. Twofour54 currently issues visas for freelancers working in the creative industries, while Dubai Internet City offers discounted visas to entrepreneurs working with the accelerator company in5.

It is not yet known how much the new visa for entrepreneurs will cost or when it will be available.

Current visa restrictions require foreign nationals to have a definite offer of employment before entering the country. This makes it harder for foreign entrepreneurs to locate to the UAE to start businesses.

Ms Al Kaabi pointed to a number of further stumbling blocks preventing the growth of entrepreneurship, which “include lack of growth funding, limited proper educational infrastructure, government bureaucracy and inefficiencies, and culture”.

According to Sameer Sortur, a director at i360 accelerator, a firm that assists start-ups, “The workaround [for entrepreneurs coming to the UAE] is that [they] come in on short term visas. They start up their businesses through partnerships, then when they have a cash flow they open the start up.”

“The first thing a start-up has to do is to register a company and take a visa – whether or not they know what their business model is going to be.”

“From the day you get you the business licence you have one year – 60 to 70 per cent of start-ups fail after year one.”

A tight visa regime increases the pressure on entrepreneurs, who already have a high failure rate, he said.

Henri Hazougi, manager at Business Setup Consultants, which helps firms looking to launch in the UAE, said: “If the new mechanism with twofour54 makes the process for entrepreneurs easier, this will definitely be a great development for people across the region.

“They could adapt some of the elements from existing free zones, such as pre-approvals and monthly payments to make the process simpler and more customer-focused.

According to Mr Sortur, fees for registering a company, and applying to get a visa as an investor, range from Dh15,000 to Dh30,000, varying from free zone to free zone.

“That’s quite expensive for a start-up,” he said. “The visa system should be more flexible.”

Twofour54 declined to give any further details on the new visa system.

Follow us on Twitter @Ind_Insights


Read more:
Follow us: @TheNationalUAE on Twitter | on Facebook


Professional Services with a personal touch. With services available all over the world through regional associates, including in UK, Turkey, Bahrain and the Arab Gulf Region, our aim is to provide the highest quality CV writing, distribution and career guidance service, assisting job seekers to succeed. Too many job seekers are taken advantage of and their situation exploited by companies whose only aim is to make money. Job seekers are given a substandard service that, instead of helping them get a job, hinders their job hunting progress and wastes precious time and money. We aim to put a stop to this by making available high quality CV writing and career services at affordable rates. Founded by @KokabRahman, we specialize in CV writing, personalized CV distribution and employment consultation. CV writing service includes customized cover letter writing, increasing job seekers success chances. You can rely on us to get the best results and a personalized experience. Client success is our goal. Top quality service is provided by highly reputable professionals who are experts in their fields. Each assignment is addressed individually after a thorough consultation with the client. When you hire our services, you can expect to receive the best service at affordable rates, provided on a timely basis. Contact us if you require any of the following services: CV Writing Cover Letter Writing CV Distribution Career advice Employment consultation Visit our website: LIKE us on Facebook: Follow us on Twitter: @Radeyabizsrvc Blog: Subscribe to Professional News & Updates newsletter -

Tagged with: , , ,
Posted in Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: