UAE | Visa
UAE to issue multiple-entry visas for property owners from June 1
Multiple-entry visas for expatriate property owners, who meet the eligibility criteria, will be issued from June 1.
- By Rayeesa Absal, Staff Reporter
- Published: 18:42 May 4, 2009
- Image Credit: Ahmed Ramzan/Gulf News
- The multiple-entry visas may be renewed, but the investor must remain out of the UAE for at least one month. "The maximum permitted stay at once is six months," said Brigadier Nasser Al Awadhi Al Minhali, Acting Director-General of Naturalisation and Residency Department.
Abu Dhabi: Multiple-entry visas for expatriate property owners, who meet the eligibility criteria, will be issued from June 1, officials announced on Monday.
Speaking at a press conference, Brigadier Nasser Al Awadhi Al Minhali, Acting Director-General of Naturalisation and Residency Department, said: "The multiple entry visas for expatriate property owners will be issued from June 1, based on the conditions stipulated by the ministerial decree issued on May 2."
In an unprecedented move, the Interior Minister issued a decree to better regulate the real estate sector by allowing expatriate property owners to obtain multiple entry visas valid for six months. Up until now, the regulations have been different in each emirate in the absence of federal regulation.
The decree, which applies across all emirates, aims at standardising the rules and stimulating the domestic economy, said Brigadier Al Minhali.
The investors will need to meet a set of requirements put forth by the authorities. According to the ruling, the property should be worth at least Dh1 million, it should be ready for the investor to move in, it should be wholly owned by the investor and the investor must have a monthly income no less than Dh10,000 or equivalent in foreign currencies.
It also mentions that the apartment or villa must be comfortable to accommodate the family of the investor, without giving any specifications.
The investor is required to obtain the title of the property from the registration authority in the respective emirate, before he could be granted the visa.
The multiple-entry visas can be renewed immediately. "The maximum permitted stay at once is six months," he said.
Your comments
the rule is perfect and makes the country more safe and secure.
Ahmad Abedi
Dubai,UAE
Posted: May 05, 2009, 13:21
I hope the authorities will amend this ruling. The length of period should be extended to at least 3 years and consideration should be given to at least previous purchasers who have purchased property below Dh1 million.
Mohammad Al Tayer
Dubai,UAE
Posted: May 05, 2009, 12:27
Dear Sir
While the visit visa mention 6 months stay period,it does not mention the overall validity of the visa period.In other words UK and USA give 5 to 10 year multiple entry visit visa with 6 months stay for each visit.
Shiraz Sachedina
Karachi,Pakistan
Posted: May 05, 2009, 12:17
The Visa rule is welcome but the one month gap that an investor must stay away from the UAE does not make much sense. It is obvious that an investor capable of Dh1 million or above in property is definitely someone who would be looking to stay and have some business interest in the UAE! Such people would definitely prefer permanent residency permit/visa.
Jai Babu
Mumbai-Bombay,India
Posted: May 05, 2009, 12:04
What about those hundreds of property owners who have bought property way below 1 million? I think with this new rule many may withdraw from investing. If the market has to be boosted and brought to life then the rule should be relaxed for all property owners who bought the property for freehold sake.
Zubair Ahmad
Dubai,UAE
Posted: May 05, 2009, 11:40
You know, I purchased a free hold property, because at that time the developer promised me 99 year visa, now I am told it is a six month visa rule.
Amit
Dubai,UAE
Posted: May 05, 2009, 11:37
Is it a multiple entry visit visa or a residence visa? If it's not a residence visa then i would not be encouraged.
K. M. Hussain
Dubai,UAE
Posted: May 05, 2009, 11:24
UAE can still attract many investors, I believe places like Ras Al Khaimah where is close to Oman border would be an ideal location to invest, to work and live.
Mahmud
London,UK
Posted: May 05, 2009, 11:24
What about the tenancy contract it is very clearly written validity of the tenure is 99 years? Why multiple-entry visas required?
Parveen M. Faiz
Abu Dhabi,United Arab Emirates
Posted: May 05, 2009, 11:21
Did it just say that for one month I can't stay in my own house where I have made an asset investment worth ~300,000 USD?
I really don't see a tangible return.
Kartik Gajria
Dubai,UAE
Posted: May 05, 2009, 09:28
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