Yes. To be eligible for an owner's visa, the individual must hold a share in the company's authorized capital valued at AED 75,000 or more.
For example, if a company has an authorized capital of AED 200,000 and two owners with equal 50% shares, each share is valued at AED 100,000. Therefore, both owners can apply for a visa.
However, if in the same company, one owner has only a 10% stake valued at AED 20,000, they would not be eligible for an owner's visa.
What should you do in this case?
You have two options:
- The ineligible owner can apply for a standard employee work visa from the company instead of an owner's visa.
- You can increase the company's authorized capital to AED 750,000. This would make a 10% stake worth AED 75,000, thereby meeting the requirement for the owner's visa.