Residency visa talk for property owners ‘premature’

Residency visa talk for property owners ‘premature’


By Parag Deulgaonkar


Registering property under a free zone firm is an option still under discussion: official

Dubai has not finalised any new residence visa system for property owners and the talks of granting residency visa are very “premature”, a senior government official told Emirates 24|7.

“At a recent meeting, ways of giving residency visas were discussed and one option was to allow people to register their properties as companies in free zone. This will then allow them to get residency visa. But, this was just a proposal and nothing has been finalised,” the official said on conditions of anonymity.

“There is no way a retired person who wants to live in Dubai can get a residency visa even if he owns a property. We are trying to help people like them.”

He reiterated “it was just a proposal in the meeting… nothing has been worked out.”

Last year, this website had reported that certain developers in Ras Al Khaimah were offering residency visa linked to properties if registered with a free zone. Real estate agents said that companies there were still helping buyers to get free zone visa.

When called, Rakia CEO, Dr Khater Massaad denied offering any such visas at all, saying, “We are fully committed to following the federal regulations on granting property visas.”

via Residency visa talk for property owners ‘premature’ – Real Estate – Zawya.