In 2026, Meydan Free Zone (Dubai, UAE) updated its procedure for obtaining investor and partner residence visas. In our experience, applicants for investor visas now need to provide a bank account statement: a corporate statement for visa renewals and a personal one for initial applications.
- Meydan Free Zone now asks for a personal bank statement on first-time investor visa applications, from a bank in any country, matching the company's share capital.
- Renewals require a corporate statement from a UAE-licensed bank covering six months, showing real transactions and the share capital as a balance.
- Share capital need not be deposited at incorporation, but the figure in the Memorandum sets your future minimum balance.
- Sole shareholders acting as General Manager get an employment visa yet face the same renewal checks.
- Golden, employment and freelance visas are unaffected.
Investor Visa on Company Formation
When applying for a UAE investor visa for the first time, a shareholder of a Meydan Free Zone company must submit a personal bank account statement. The account may be held with a bank in any jurisdiction and is not required to be in the UAE. The statement must reflect a balance equal to or exceeding the share capital of the company being formed.
As in other free zones, setting up a company in Meydan entitles its shareholders and employees to apply for UAE residency (under either investor/partner or employment visas). An investor visa is typically issued for a two-year period. The visa quota requested by a company impacts the total cost of its incorporation.
Investor Visa Renewal in Meydan Free Zone
When renewing an investor visa (typically every two years), applicants must now submit a corporate bank account statement issued by a UAE-licensed bank. The statement must cover the preceding six months, demonstrate account activity, and show a balance at least equal to the company’s share capital. Previously, bank statements were not part of the standard renewal checklist.
According to the FAQ section on the Meydan Free Zone website, the recommended share capital for a company is AED 100,000 (approximately USD 27,000 or EUR 24,000). The section also notes that a minimum share capital of AED 50,000 entitles the company owner to an investor or partner visa.
The exact capital requirement depends on the company’s business activities and licence type. The capital amount does not need to be deposited into the corporate bank account during the company incorporation phase. However, the share capital figure stated in the Memorandum of Association dictates the minimum balance that must be maintained in the corporate account upon visa renewal.
| Investor Visa Stage | Bank Statement Requirements |
|---|---|
|
Initial application (new company incorporation) |
|
|
Visa renewal (typically every two years) |
|
An important practical detail that currently distinguishes Meydan concerns situations where a sole shareholder also acts as a company’s General Manager. In these cases, the immigration authorities will issue a General Manager (i.e., employment) visa rather than an investor visa.
However, the individuals holding such General Manager visas are treated for visa renewal purposes as company owners. For visa renewal they must still submit a corporate bank account statement showing a sufficient balance, as described above.
Is the Bank Statement Requirement Formally Established?
Clause 2.19 of the Meydan Free Zone Terms & Conditions specifies that “every visa renewal application shall be subject to verification, assessment, eligibility and approval by the Free Zone and/or the relevant Competent Authority in accordance with the Regulatory Instruments in force at the time of renewal.”
It is worth noting that free zone authorities sponsor and process residency applications (and may approve or reject them), but final visa approval and issuance rest with the UAE immigration authorities. The General Directorate of Residency and Foreigners Affairs (GDRFA) exercises this function in Dubai, and the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) across the other emirates.
For example, Amer 24/7, one of the government-authorised service centres administering GDRFA applications, includes a three- to six-month corporate bank statement in its investor visa renewal checklist (pertaining to mainland companies), adding the “if requested by the GDRFA” note. Our own practice also confirms that immigration authorities may, at their discretion, demand a corporate bank statement during any UAE residence visa renewal.
Practical Implications
A corporate bank statement may be requested when renewing investor or partner visas across both UAE mainland and free zone jurisdictions, particularly within Meydan, although no such requirement is mentioned on official online resources.
The inclusion of a bank statement in the list of documents required for residence visa renewal indicates that the procedure ceases to be a mere formality. Through the bank statement, free zone and immigration authorities can verify that the entity carries out real business activities supported by corresponding transaction history.
Best Practices for Visa Renewals
To minimise the risk of your investor visa not being renewed:
- Check in advance with your corporate service provider in the UAE or the relevant free zone authority to determine whether a bank statement is required in your specific case, what period it should cover, and what the minimum balance requirements are. Even if it is not required by default, the immigration authorities may still request it.
- Review your company’s UAE bank account for the period leading up to the visa renewal and ensure that the required balance is maintained.
- Have a bank statement ready by the time your investor visa is due for renewal.
Please note that the described bank statement requirement applies specifically to investor and partner visas (as well as visas issued to General Managers who are sole shareholders). UAE Golden Visas, standard employment visas, and freelance visas remain governed by separate regulations.
Tags: UAE
