Federal Visa Law
A new federal law has been proposed which grants residency visas to owners of freehold property in the UAE and is likely to come into power within the next year.
While Dubai has always been marketed as providing visas to freehold property owners, there has not been a federal law on such an issue, and confusion persisted over whether ownership actually guaranteed residency because visas came from developers as sponsors, not straight from the Department of Naturalization and Residency. The proposed law will allow property owners to obtain a six-month renewable residency visa, regardless of property value or size, and will be applicable to all nationalities. The visa will be renewable until property is no longer owned.
This new proposal aims to remove confusion caused over whether property developers are legally able to guarantee visas, which has been a contentious issue over the past couple years. Because the law comes from the federal level, it would apply to all Emirates equally and will allow property owners to obtain residency directly from the respective government instead of indirectly through property developers.
Date posted: March 4th, 2009
Posted by: betterhomes
laws ,laws,laws.
changing laws for collecting more money from you,then changing it as soon as possible.without any explanation,or discriminating between iranians,indians and europians.this getting a very old trick but alas humans don't get lessons from the past.
Visa for property buyers
Malaysia, recently, introduced a system of granting residence visa to property buyer -including off plan properties- up to 10 years. This, perhaps, would no doubt give some governments a food for thought if they are really interested in wooing foreigners into buying properties in their countries.
Fedral Visa law
If it is true what betterhomes has posted regarding proposed change in visa law for investors irrespective of property value and monthly income. We hope this law is passed as soon as possible. This will certainly impact positively on the property market.
Visa Law
Don't believe anything these ppl say unless it is a federal law.What are the authorities doing by delaying this?
Don't they understand the world is trying to improve their stand by giving good options to investors.If UAE fails then it will lag behind..
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