all you should know about dubai investor visa cancellation process in 2024

The Investor Visa is issued to all those potential investors who think that they can invest in a potential business in a foreign country. UAE can even be termed as the most flexible nation, which invests a lot to set up a flourishing business in UAE itself on the ground dimensions of technology, oil, services, etc. It is the prime objective of the UAE to convert into a business nation. Also, one of the major elements is that the investor visa is valid for 3 years, but it may happen that your partner or investor made huge investments in the business and he or she realises that the company fails to meet the expectations of success and the returns. 

Now, in this situation, if you want to cancel the investor visa, you have to make sure that you go through the proper process and the series of situations, and then only lock in your final decision.

Dive into the rundown to learn more about the investor visa cancellation.

Documents required for the Investor Visa Cancellation in UAE?

• The original passport and the Emirates ID.
• The Trade Licence Copy and the Partner List (for the LLC).
• The immigration establishment card copy.
• The original sale agreement was attested to by the notary Public. 
• The Licence Cancellation Certificate by the Department of Economic Development (in case of the liquidation of the company).

Process of the Investor Visa Cancellation in Dubai in 2024?

• Attach all the documents mentioned above, and then submit them to the immigration counter with your original passport.
• You also have to attach the original Emirates ID. 
• If, in any case, you lost your ID, then you have to take the IDN Certificate by submitting your original passport, and then finally, the Emirates ID would be issued to you free of cost. 
• Then, after completion, the visa would be cancelled immediately.  

Process of the Investor Visa Cancellation for Investors?

• You have to fill out the Cancel Application Form and then pay the respective fees at the Typing Centre.
• Then you need to submit the printed application along with all the required important documents.
• Then you'll receive your cancellation of the visa by post or directly if you have submitted the visa cancellation through the "urgent" category.

What are the essential documents required to cancel the residency visa for investors?

• The Residency Visa Cancellation Form.
• The residency visa cancellation application that is issued by the DED.
• The trade licence is registered under the name of the new owner.
• The contract sale, the assignment, or the commercial licence cancellation. 
• The investor card.
• The termination of the service agent contract.

The cancellation fee is AED 60, and the grace period for the investor visa is 30 days from the date of the visa expiry. 

The Investor Visa Cancellation without Selling Shares

• The NOC needs to be submitted in the Arabic language. In that, you have to state that the local sponsor has no objections to the cancellation of the partner visa.
• Then the local sponsor needs to be present at the immigration centre, and then he or she has to sign the same NOC in front of the officer. This will then be attached to the cancellation form.

Investor visa cancellation if the investor is from outside the UAE for less than 6 months.

• The investor needs a power of attorney to authorise another partner to sell those particular shares on his behalf.
• Then proceed with the Investor Visa Cancellation Process at the Immigration Department to finally receive your deposit amount.
• The power of attorney needs to be attached by the UAE Embassy to the foreign affairs of both nations.
• The attorney can finally sign all the important documents and then finally complete the cancellation process.

Investor visa cancellation if the investor is from outside the UAE for more than 6 months.

• You need to fill out the application for the visa cancellation.
• Then fill out the Visa Cancellation Form.
• Then you have to submit these along with the other essential required documents mentioned at the Immigration Centre.

The Grace Period

The investor visa, within 30 days of expiry, should be cancelled.

• The applicant has this option to stay for 29 days in the UAE, right from the date of the visa cancellation, if the visa isn't cancelled at the time of the cancellation.
• If the visa cancellation takes place during the grace period, then the remaining days of the cancellation would be allowed to stay without any of the fines applied.
• But, if the visa holder overstays in the nation, 25 dirhams would be charged for the residency visa overstay, which you need to pay at the immigration centre or the airport.

So, this was all about what you got to know about the investor visa cancellation and the process required for it, along with the documents that are essential for all the forms and applications. If the situation calls for it, you have the perfect guide for investor visa cancellation.