Foreign homeowners gain residency rights in UAE

Posted by: Susan Confused Wednesday, 22 December 2010 11:42 AM[UAE] - UAE

I am a woman and am married with one daughter. I still cannot make sense of the laws here. If I can get a 6 month Visa because I now own a property worth over 1 million dirhams, can my husband and daughter also have six months visas as they live with me and I am the main breadwinner? If it was the other way round, and my husband owned the house, I presume I would be able to stay here, and my daughter, for six months at a time. Being an expat woman here is even harder than being a male family investor because of Sharia Law. I have tried to get an answer to this question without paying expensive legal fees but nobody seems to know.

Posted by: MD Tuesday, 19 May 2009 8:47 AM[UAE]

Many people have failed to realize the rationale behind the Ministry's decision to offer six-month renewable residency visa to foreigners buying a home in the UAE valued at more than 1 million dirhams. By setting a minimum limit of 1 million dirhams, they are trying to ensure that property prices do not fall very steeply below one million dirhams. Of course, the average buyer will be mystified as to why they should shell out 1 million dirhams for a one-bed apartment, but then again, why should they be surprised. Judging by the ever changing rules, the only thing buyers can be certain of is that rules will change every year and owning property here on a long term basis, will be a nightmare.

Posted by: cyberboy Monday, 18 May 2009 5:34 PM[UAE] - U.A.E

Investments.. whether it is stocks or real estate, always expect the unexpected.. especially in U.A.E.. :)

Posted by: Hossam Monday, 18 May 2009 2:00 PM[UAE] - UAE

As an Egyptian , I can tell you now most egyptians are buying in Spain and US due to low prices over their and ofcourse better weather , scenes , more regulations , mature and studied market and sure you get a lifetime resident visa . But I would really thank Dubai for their vision and attempt to become a world wide best destination , this pushed other middle east countries to follow Dubai in some initiatives including Egypt itself but real estate here is a lot better than Dubai now. I believe they still have a chance to keep the momentum and heat to buy in Dubai ( which I dont see any reason now although I bought a nice 1 bedroom appt on the sea ) if they sort out all issues from home loaners to rules etc etc before Fall this year , otherwise the heat of real estate invetment is moving towards Africa and Europe but Im also considering East Europe ... wow :-) The other thing is that out of all real estate projects in Egypt , NONE of them has ever been delayed especially Rehab which I consider the best in the Middle East ( I bought there as well a villa ) .

Posted by: Rockstar Monday, 18 May 2009 12:20 PM[UAE] - UAE

How can the rules be reversed so easily... rightly or wrongly, the last 4-5 years have witnessed enormous land transactions, many "marketed" on the back of issuance of residency visas by the master developers with freehold titles. Now, if this was illegal and not possible, why was it not stopped, clarified, corrected and made transparent at the time to safeguard the industry? This has led to the situation now and as a consequence, the industry in not credible, lacks transparency, is not clear and detaiewle in its laws and will suffer form the outsode investment world, for all these reasons. I am an Expat and back in 2006, we chose to invest - IN OUR COUNTRY - rather than here, because we understood the laws, were comfortable with the way the laws were enacted and upheld and we saw longterm benefits, securityt, growth and appreciation. The system is robust and reliable and transparent. If Dubai can get anywhere clsoe to the pre-GFC days, it had better start with these basic fundamentals, or the Expats will still come, albeit in smaller droves, and pull their hard earnt Dhs out of the country to better yielding, safer, more secure and transparent location - to the absolute deriment of Dubai. Consumers will use and abuse the place, but not commit and invest into it, whih is what you need to develop a thriving, sustainable and enduring maretplace, like Australia, Europe and America. Take action... as it is already becoming too late for many to reverse their decisions, as they wave good bye to Dubai.