AUDITING FOR UAE GOLDEN VISA
The Golden Visa, a new system for long-term residency visas, was implemented in the UAE in 2019. This visa allows international students, workers, and residents to study, work, and live in the UAE without the need for a national sponsor. The businessman can conduct his or her operations on the mainland of the UAE with complete sponsorship. The visa is valid for 5 to 10 years and is automatically renewed. The purpose of this visa was to recruit new foreign citizens to the country.
The golden visa system was introduced to provide long-term residency to the following groups:
• Individual with outstanding talents like research
• Medical professionals
• Remarkable students
To be eligible for the Golden visa, members of the above-mentioned group must meet a few requirements. The public investment is worth AED 10 million to the investors. That should be verified by a Dubai auditor. An investment might be made in the form of a fund or a corporation. People with extraordinary talent, in addition to investors and entrepreneurs, can apply for a golden visa. Researchers, doctors, scientists, and artists make up this group. Following the accreditations provided by the respective departments, this group can be awarded a 10-year extension. Aside from that, patents or scientific studies published in reputable journals must be used to prove exceptional talent.
Many Indians who want to start a business in the UAE take advantage of the UAE’s Golden visa program. As an auditing firm in the UAE, Alya has certified a person’s net investment in the UAE, allowing them to obtain a Golden Visa. Dubai provides freedom, security, and a one-of-a-kind living experience in a world-class city. The golden visa, which was handed to many frontline healthcare workers during the pandemic, proved to be quite valuable. Since then, it has become increasingly popular.
The requirements for a 5-year golden visa are nearly identical to those for a 10-year visa; the only difference is that the investment for a 5-year visa is AED 5 million.
To obtain this visa, one must first undergo auditing to ensure that all of their bases are covered. The Golden Visa Audit Report will aid in establishing the company’s or individual’s trustworthiness. The audit will assist the Audit company in presenting an accurate and fair report.
When a person wishes to present his investment in the UAE, auditing is required. His investment options include real estate, stocks, and business ventures. The Immigration Authority verifies the Audit Report to determine whether the applicant is eligible for a Golden visa.
What is the purpose of auditing?
Auditing is a critical mechanism for the organization, the government, investors, creditors, and shareholders, among other stakeholders. To make critical choices, they all rely on audited accounts owed. Furthermore, auditing aids in uncovering a company’s weaknesses that may have gone unnoticed. The Golden Visa Audit Report is one of the most significant documents in the UAE because it details the company’s financial health, which aids in obtaining the visa.
• Prevent fraud and suspicious activity
• Enhance the credibility of the organization
• Suggest the corrective measures
• Implement quality control measures
• Prolonged benefits to the firm
How to apply for the Golden Visa?
Those interested in applying for the Golden Visa can do so through the Federal Authority for Identity and Citizenship — ICA (the eChannel for residence and citizenship) or the General Directorate of Residency and Foreigners Affairs (GDRFA), which is part of the ministry. GDRFA provides all online and offline channels, whereas ICA just provides the greatest online channels. The application process is basic and straightforward, requiring the candidate to submit all essential documents in order to obtain the visa and to be available to relocate to Dubai in accordance with the business endeavor. The Golden Visa Audit Report from reputable Dubai Auditors makes the process simply because they handle the entire process while you focus on your business
What are the benefits of the Golden Visa?
• Personal bank account
• Ability to rent a property
• Sponsor your family
• Tax exemption
• UAE’s driver’s license
ALYA is a well-known auditing firm in the UAE that provides services to all of the UAE’s free zones. Our professionals are aware of the client’s needs and operate in accordance with them. ALYA Auditors offers a team of auditors that are well-versed in the UAE’s rules and regulations regarding the formation and visa law. Here’s how ALYA’s Audit services in the UAE can benefit you:
• Market analysis for your business
• Advice you on market
• Prepare auditing reports and recommend improvements
• Assess risk management tactics
• Report systematic errors or internal frauds