Readers say visa rule will benefit only a few people

Dubai: Will more flexible visa regulations appeal to investors and encourage them to invest in property in the UAE?

Gulf News readers reacted differently to the new rule that states that owners of properties in the UAE that are worth more than Dh1 million will have the option of entering the country using a multiple-entry visa. It will allow them to stay for up to six months at a stretch.

Azor Shams a 35-year-old Pakistani expatriate who is a property dealer in Dubai, said: "I think this will create movement in the market and build investor confidence."

Still, Shams believes that restricting the rule to those who own property to the value of more than Dh1 million means it will be limited to a minority of the market.

Rao from Ajman agreed. He wrote in to gulfnews.com saying that most of the owners of properties in Ajman are not eligible for multiple-entry visas because most properties there are worth less than the specified price.

Others believe that the six-month period allowed is too short.

Bassam Nader, a 28-year-old Lebanese expatriate and Sharjah resident, said: "I think people who are interested in investing that much in a property would need a rule that would give them a residency visa of at least three years to convince them to buy."

Tim Crowe, a 35-year-old British expatriate, said: "If you buy a house and you have sufficient income, in most countries you would easily get a residency visa."

This was a common sentiment among readers.

Mahmoud from Ras Al Khaimah said on gulfnews.com: "People might invest in Europe& Why do they have to invest more than a million dirhams, provide a salary certificate and insurance and so many other costs and paperwork, and still be entitled to live in their own homes only for six months?"