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No automatic residency for property buyers in Dubai

No automatic residency for property buyers in Dubai

Old Jun 24th 2008, 4:19 am
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Default No automatic residency for property buyers in Dubai

Published: June 23, 2008, 23:33


Dubai: Property buyers should not expect an automatic residence visa upon purchasing property in Dubai, a top official clarified.

"There is no direct link between property ownership and residence visas. Developers should not lure investors to property sector with a promise of residence visa," Marwan Bin Galita, chief executive of Dubai's Real Estate Regulatory Agency (Rera) told Gulf News on Monday.

Bin Galita said a proposal has been submitted to the concerned authorities to issue property investors a visit visa that allows them to travel in and out of the country to follow up their investments in the property market.

"The suggestion, if approved, might be implemented at a federal level, especially that the local laws of most emirates allow foreign ownership of property.

"The visit visa could replace the residence visa, which was issued by some developers in Dubai for those who bought property in their projects."

Bin Galita said the suggested visa is similar to visas issued by foreign countries for property investors as in the US there are more than 250 kinds of visas.

"Those visas will be of many kinds. For example, it could be for two weeks for the person to come and collect the rent or it could be for another specific time to follow up the issue of the investment," he said.

"The visa will have various privileges in line with the size of the investor's investments, and expires once the owned property is sold. Those who earlier acquired residence visas linked to their properties, could have their status amended, should the new legislation take effect," he said.

He added that if the suggestion was approved, then the visa for those who own properties here and want to enter the country will be applied through the residency department and it will be issued in accordance to the volume of the investment also.

"We have to think about the future and about all the possibilities," he added.

Regulation

He said there is a need to regulate this matter and to look at it from all the sides in order to avoid any problems in the future. "Investors must understand that owning property in Dubai is not a pre-requisite for having a residence visa," he said.

"I need to repeat to people not to mix between the residency visa issue and buying property," he said.

Major General Mohammad Ahmad Al Merri told Gulf News there is nothing called "own property and get life-long residency visa".

He said there are rules for issuing residency visa or visit visa and those rules and regulations are from the Ministry of Interior and nobody else. "We are not dealing with property owners. We are issuing our visas as usual as per the law," he said.
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Old Jun 24th 2008, 4:48 am
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Default Re: No automatic residency for property buyers in Dubai

oh look they have changed their mind, surprise surprise unfortunately thats the way it works here sometimes.
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Old Jun 24th 2008, 11:49 am
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Default Re: No automatic residency for property buyers in Dubai

More old news Nabil or maybe I read too much apart from BE
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Old Jun 24th 2008, 12:58 pm
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Default Re: No automatic residency for property buyers in Dubai

Just a few months ago on another forum I was reading a post from someone who insisted that buying property in Dubai meant that you got a 99-year visa.

And that you actually owned the land.
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Old Jun 24th 2008, 1:05 pm
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Default Re: No automatic residency for property buyers in Dubai

Originally Posted by Slingshot View Post
More old news Nabil or maybe I read too much apart from BE
It was anounced yesterday in the Arabic papers and today in the English ones.....you are right, if you read it somewhere else then maybe you shouldn't read it again here.

Since you decided not to get a life and trace my every thread, I will make sure I keep the "old news" coming!!!
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Old Jun 24th 2008, 1:15 pm
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Default Re: No automatic residency for property buyers in Dubai

Originally Posted by nabil_8 View Post
It was anounced yesterday in the Arabic papers and today in the English ones.....you are right, if you read it somewhere else then maybe you shouldn't read it again here.

Since you decided not to get a life and trace my every thread, I will make sure I keep the "old news" coming!!!
Ignore Slingshot's negative comment. I was interested in your post and it was news to me. The BE forum is a good way to catch up local news one might have missed. So keep on posting and ignore the moaning minnies.
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Old Jun 24th 2008, 3:22 pm
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same shit different day
 
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Default Re: No automatic residency for property buyers in Dubai

Originally Posted by nabil_8 View Post
It was anounced yesterday in the Arabic papers and today in the English ones.....you are right, if you read it somewhere else then maybe you shouldn't read it again here.

Since you decided not to get a life and trace my every thread, I will make sure I keep the "old news" coming!!!

trace your every thread?
what? all 18 of them prior to today

it is only your second out of date piece of information so I won't hold it against you
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Old Jun 24th 2008, 3:23 pm
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Default Re: No automatic residency for property buyers in Dubai

Originally Posted by Eeyore View Post
Just a few months ago on another forum I was reading a post from someone who insisted that buying property in Dubai meant that you got a 99-year visa.

And that you actually owned the land.
that is a good enough reason not to venture off to other pastures
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Old Jun 24th 2008, 3:48 pm
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Default Re: No automatic residency for property buyers in Dubai

Originally Posted by Slingshot View Post
More old news Nabil or maybe I read too much apart from BE
When did you hear of this As far as I am aware this stance is completely out of the blue.
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Old Jun 24th 2008, 3:49 pm
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Default Re: No automatic residency for property buyers in Dubai

Originally Posted by Eeyore View Post
Just a few months ago on another forum I was reading a post from someone who insisted that buying property in Dubai meant that you got a 99-year visa.

And that you actually owned the land.

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Old Jun 24th 2008, 3:57 pm
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Default Re: No automatic residency for property buyers in Dubai

Originally Posted by IndieG View Post
When did you hear of this As far as I am aware this stance is completely out of the blue.
sometime within the last few weeks. maybe I just hear more because of the industry I work in. just like you probably know a lot more about all the finance stuff than us mere mortals
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Old Jun 24th 2008, 4:02 pm
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Default Re: No automatic residency for property buyers in Dubai

The story was in the Arabic papers towards the end of last week. An email went around at work with a link to it.
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Old Jun 24th 2008, 4:12 pm
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Default Re: No automatic residency for property buyers in Dubai

Originally Posted by Slingshot View Post
sometime within the last few weeks. maybe I just hear more because of the industry I work in. just like you probably know a lot more about all the finance stuff than us mere mortals
Aah ok - thought old meant a couple of months back.

I know very little about finance stuff ....lol!
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Old Jun 24th 2008, 6:20 pm
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Default Re: No automatic residency for property buyers in Dubai

Originally Posted by IndieG View Post
When did you hear of this As far as I am aware this stance is completely out of the blue.
Exactly...I just heard it today and I'm a person who buys and sells people everyday...
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Old Jun 25th 2008, 5:32 am
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same shit different day
 
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Default Re: No automatic residency for property buyers in Dubai

Originally Posted by IndieG View Post
Aah ok - thought old meant a couple of months back.

I know very little about finance stuff ....lol!
ah that is alright - I know sweet F A about buildings
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