GABC’s additional services

Residence Visa:

A residence visa would allow an individual to stay and work in the UAE. A sponsor which may either be a company (employee visa) or individual (for family visa application) is required to apply for the residency. To obtain a residence visa, an individual must be medically fit and should complete the registration process for the Emirates Identity Card. Once the residency has been issued, one may apply for a personal bank account, rent an apartment, acquire a driver’s license, register a car and apply for one’s family’s residence visas (partner and children).

Individuals sponsored under a mainland license will be issued a two years residence visa while shareholders and employees sponsored under a free zone company will have a validity of three years. It is important to note that UAE residence visa will automatically be cancelled if the resident stays outside of the country for more than 6 months.

 

Visa – Fees 

Outside of the UAE	Inside the UAE
Visa Application Fee – AED 3,335.00  Validity:  3 Years	Visa Application with Amendment – AED 4,535.00  Validity:  3 Years
Visa Guarantee per Employee – AED 3,000.00	Visa Application without Amendment – AED 3,795.00  Validity:  3 Years
Medical Test – AED 750.00	Visa Guarantee per Employee – AED 3,000.00
Emirates ID Application – AED 340.00  Validity:  3 years	Medical Test – AED 700.00
Health Insurance  •Mandatory for UAE Residents  •Price depends on preferred package/coverage	Emirates ID Application – AED 340.00  Validity:  3 years
	Health Insurance  •Mandatory for UAE Residents  •Price depends on preferred package/coverage

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Visa – Documents required

Outside of the UAE	Inside the UAE
Passport Copy	Passport Copy
Passport Size Photo	Passport Size Photo
Highest Educational Certificate  Attested in the UAE Embassy of the home country	Highest Educational Certificate  Attested in the UAE Embassy of the home country
Contract & Information Sheet  Provided by GABC	Contract & Information Sheet  Provided by GABC
UAE Visa Page + Emirates ID  Applicable to UAE Residence Visa Holders Only	UAE Visa Page + Emirates ID  Applicable to UAE Residence Visa Holders Only
Health Insurance  *Mandatory for UAE Residents	Health Insurance  *Mandatory for UAE Residents
Company Establishment Card	Current UAE Visa  Visa upon Arrival or Cancelled UAE Visa
	Company Establishment Card

Daman Health Insurance:

It is mandatory for all UAE Residents to have a health insurance which is generally provided by the employer if sponsored by the company and by the UAE Resident if sponsoring their family. DMCC has partnered with JLT Insurance and offers group packages for all DMCC companies with benefits such as coverage of pre-existing conditions and easing the application process as an individual undertaking is not required.

The National Health Insurance Company – DAMAN is the region’s leading specialised health insurer, providing comprehensive health insurance solutions to more than 3 million members in the UAE.

Daman is a public joint-stock company that is 80% owned by the Abu Dhabi Government with the remaining 20% owned by Munich Re. Munich Re is one of the world’s leading
reinsurers and plays a key role as both reinsurer and a valuable source for knowledge transfer.

Headquartered in Abu Dhabi and established in 2006, Daman offers a range of health insurance plans for both individuals and organisations and exclusively manages the Government’s health programme – Thiqa – for UAE Nationals and Abu Dhabi Basic Plan – for low income expatriates. Members enjoy access to the largest healthcare providers’ network in the UAE and an extensive international network of over 45 countries.

Accounting & Audit:

All companies registered and licensed by DMCC are required to upload the auditor’s signed and stamped Audited Financial Statements Summary Sheet and the Audited Financial Statements Report via a designated online service request on the member portal within 90 days after the end of each financial year.

 

As per the Approved Auditors Rules (AAR) issued on 12th January 2017, it is the responsibility of each DMCC member company to ensure that their appointed auditor is registered as an Approved Auditor with DMCCA and is listed in the Approved Auditors List (AAL). These rules do not apply to auditors appointed to audit DMCC member companies registered as a branch company provided such a company has a group auditor. To refer to the AAR and AAL, please visit the DMCC website at

https://www.dmcc.ae/free-zone/support/compliance-and-regulations

 

All companies registered under DMCC Free Zone have to conduct an annual audit at the time of their license renewal. While the standard reporting period is one calendar year, a company may nominate a different reporting period, the first reporting period will commence from the date of incorporation and must not be less than six months and no more than eighteen months. The audited financial statements must be furnished to the DMCC authority while renewing the trade license of the company. The auditor needs to be licensed by the UAE Ministry of Economy. Before engaging an audit firm, DMCC advises all companies to ensure their auditor holds the necessary licenses.