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Tue 15 Jul 2008 10:32 AM

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RAK mulls long-term visas idea

Emirate could grant extend permits for property buyers in bid to boost foreign investment.

Ras Al Khaimah is considering granting long term residence visas to property buyers that will exceed the current three-year permits.

The move is aimed at boosting foreign investment in the UAE sheikhdom’s emerging real estate industry, UAE daily Gulf News said.

And it could provide an advantage over other emirates for some foreign buyers looking to invest in the country, the newspaper said, citing Dr Khater Massaad, CEO of the Ras Al Khaimah Investment Authority.

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