New law to offer residency visas to home owners

Posted by: Anig Thursday, 19 February 2009 1:36 PM[UAE] - Bulgaria

When I bought my apartment in UAE, I was promised to grant a three years visa, that is even written in the contract. But the company just give me 1 year and every time I have to go to Dubai to renew after 1 year. But when suddenly there was a new rule to STOP issuing a visa, the company also stop renewing my visa, although the three years that said in my contract when I bought the apartment was not yet completed! That makes me MAD! Now that they are straggling, they changed again the RULES! That very unstable and unfair! Therefore investors don't trust!

Posted by: Sharif Thursday, 19 February 2009 9:49 AM[UAE] - UAE

The issuance of visas to property owners is a much needed move, however the validity of the visa needs to be longer for practical reasons. First you cannot get a visa for any country or travel if your residency is valid for less than 6 months. With all government departments now being on line, it would be simple for the Lands Department and Immigration databases to be linked, i.e. before you go to sell your property, you should have cancelled your visa / dependants visas and could be given three months time (for example) to exit the country. This would also mean that all properties should be registered with the Lands Dept which in itself is better for owners/buyers. Also, it is essential that the new rules allow an owner to obtain visas for his/her dependents including parents. The authorities should carefully review the practical difficulties of a short-term visa of 6 months before implementing the new rules. The new rules obviously have to protect the UAE interest, but should also be practical and fair to people who have invested in the country. A balanced and consistent approach is the need of the hour.

Posted by: julia Tuesday, 17 February 2009 7:39 PM[UAE] - usa

foriegners will eagerly buy property if one time visa is given and remains valid so long as property ownership is held. visa should expire 3 months after property is sold and sale proceeds realized

Posted by: Eswar S B Tuesday, 17 February 2009 7:25 PM[UAE] - UAE

After property boom is down, it is nice to note somebody addressing on the visa issue. But to when this rule will be valid. Every six months, costs ??? who is bearing it? Already the property firms are hiking in the name of maintenance charges. Is this stimulus package for income to spend or a bonus to the investors? Very doubtful.

Posted by: SAYED HASSAN Tuesday, 17 February 2009 6:41 PM[UAE] - Afghanistan

If you were me what would you do with some real estate developers? However I complained to RERA. I invested in Dubai Marina on 2006 with a real Estate developer which they promesed me to hand over my properties Dec 2008 and still there is no constraction. thanks