UAE Residence owners get visit visas....
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I feel that the UAE has made a major mistake in not allowing a longer time frame - 6 months is not really adequate. Also clarity over this 1 Million Dhms limit is needed fast. I would hope that they revise those points soon as they have already done with the requirement to spend 1 month out of the country.
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I can't agree that merely the ability to purchase a property should afford the right of residency. They are completely separate issues (and rightly so). I would venture that a major plank of the property development industry in Dubai has been the offer of residency with purchase; removal of which will have a further negative effect.
I have said this before: IMHO, it has been a policy mistake by the UAE to treat all non-nationals as temporary- temporary workers, temporary residents etc. Temporary residents have a different attitude to their surroundings. Until the UAE matures to the point that it truly welcomes immigration, fundamental problems (and it's apparent "identity crisis") will continue.
I have said this before: IMHO, it has been a policy mistake by the UAE to treat all non-nationals as temporary- temporary workers, temporary residents etc. Temporary residents have a different attitude to their surroundings. Until the UAE matures to the point that it truly welcomes immigration, fundamental problems (and it's apparent "identity crisis") will continue.
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Buying property in the UAE
is expensive, despite the unwelcome attitudes of the locals, the hot weather and dusty sandstorms. Many expats bought property to escape the ridiculous rents and as an investment since they have no pension plans. After investing and not having at least the right to stay there is not fair.
If you buy property in the US you will get a visa to reside there but not to work. It is however possible to work out a permanent residence.
If you buy property in the US you will get a visa to reside there but not to work. It is however possible to work out a permanent residence.
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Ferris provided us with a sharp analysis.
There are hundreds of Emiratis owning villas in Germany, Switzerland, France...and they still have to apply for Schengen visas each year before travelling. True that visa formalities are made easier for them, but that's all. AND visas are limited to 90 days not 6 months.
The UAE Administration clearly doesn't want a sedentary foreigners population on its soil. Sad, pathetic and short-term (lack of?) "vision".
Dubai will never be Miami
There are hundreds of Emiratis owning villas in Germany, Switzerland, France...and they still have to apply for Schengen visas each year before travelling. True that visa formalities are made easier for them, but that's all. AND visas are limited to 90 days not 6 months.
The UAE Administration clearly doesn't want a sedentary foreigners population on its soil. Sad, pathetic and short-term (lack of?) "vision".
Dubai will never be Miami
I think one of the major differences is that some of Dubai's "major" property developers sold their projects while advertising that the sale came with a residence visa.
You buy in the States,UK,Aus etc you can check local rules before you purchase.
Here they make it up as they go along.
You buy in the States,UK,Aus etc you can check local rules before you purchase.
Here they make it up as they go along.
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the boom started when foreigners were allowed
to buy property, and I for one looked at a new concept, a tower block with views of the sea, and the marina.
That was, what 8 years ago.? The ability of foreigners to own property caused in my opinion the start of the boom, fuel provied by these incomers, and thier money.
The second incentive was as previously stated the ability to obtain residence visas, withe the property, which suggested to most that the UAE was encouraging us to set up homes in the UAE.
I am not refering to Investors, but an investment in the life stly, culture and general ambiaonce that the UAE was able to offer a few years ago.
We all agree that this has gone well over the top, and can see now, is a mis balance beteween the needs of the UAE, and the desire of foreigners (A/B) to populate the UAE.
If the proposed regulations are eventually enforced as originally published there will be several million holiday homes in the UAE, and no "residents".
By the way, the traffic is getting so good now on the 311, I only allow 2 hours to get to work.
Please do not misundersand my complaint: Purchase of property or an investment does not automatically get residence in many countries, and this is fully understood. The term "residence" as far as residence visa is defined in the UAE gives almost nno citizenship rights, it only permits one to remain in the country, not work, not obtain social benfits, medical benefits etc, etc.
glf
That was, what 8 years ago.? The ability of foreigners to own property caused in my opinion the start of the boom, fuel provied by these incomers, and thier money.
The second incentive was as previously stated the ability to obtain residence visas, withe the property, which suggested to most that the UAE was encouraging us to set up homes in the UAE.
I am not refering to Investors, but an investment in the life stly, culture and general ambiaonce that the UAE was able to offer a few years ago.
We all agree that this has gone well over the top, and can see now, is a mis balance beteween the needs of the UAE, and the desire of foreigners (A/B) to populate the UAE.
If the proposed regulations are eventually enforced as originally published there will be several million holiday homes in the UAE, and no "residents".
By the way, the traffic is getting so good now on the 311, I only allow 2 hours to get to work.
Please do not misundersand my complaint: Purchase of property or an investment does not automatically get residence in many countries, and this is fully understood. The term "residence" as far as residence visa is defined in the UAE gives almost nno citizenship rights, it only permits one to remain in the country, not work, not obtain social benfits, medical benefits etc, etc.
glf
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UAE Freeport / offshore company
Yes it is an economic route. 1) You need full annual accounts etc, etc, but it works.
Also is the route 2) of buying the house in the name of an offshore company, this is a vehicle to purchase the property, in the name of two or more directors who can be: spouse, couples, friends etc, etc. The main purpose is to limit the liability in regard of Sharia laws view on domestic property settlement.
So there are alternates, item 1) solves the residency visa, as the directors of the company get Business / Investors visas, and can sponsor family members. Item 2) solves the other major problem of propert ownership in UAE.
I am not answering my own question, jus trying to point out that there is half the solution already in the regulations.
glf
Also is the route 2) of buying the house in the name of an offshore company, this is a vehicle to purchase the property, in the name of two or more directors who can be: spouse, couples, friends etc, etc. The main purpose is to limit the liability in regard of Sharia laws view on domestic property settlement.
So there are alternates, item 1) solves the residency visa, as the directors of the company get Business / Investors visas, and can sponsor family members. Item 2) solves the other major problem of propert ownership in UAE.
I am not answering my own question, jus trying to point out that there is half the solution already in the regulations.
glf
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Vercingetorix, sorry chap, but I do have to take issue with your statement that "it is surprisingly cheap to set up a business" having had the miserable experience of doing so I would love to know how you come to this conclusion?
If you set up in a freezone, it's well expensive, although the admin is ever-so-well taken care of, if you get a "local sponsor" well you'll be lucky to make any money! Then there's the fun with the banks and a business with the rules on who can sign what today and tomorrow well... it depends on which member of staff is in, is available or will talk to you... then you have to employee a percentage of locals at many many times what you would pay an ex-pat... where's the cheep in any of this?
sorry but I cannot see what your basing your statement on.
If you set up in a freezone, it's well expensive, although the admin is ever-so-well taken care of, if you get a "local sponsor" well you'll be lucky to make any money! Then there's the fun with the banks and a business with the rules on who can sign what today and tomorrow well... it depends on which member of staff is in, is available or will talk to you... then you have to employee a percentage of locals at many many times what you would pay an ex-pat... where's the cheep in any of this?
sorry but I cannot see what your basing your statement on.
