Investors from Tunisia, the US,
Commonwealth of Dominica, India, Iraq, China, Libya, Jordan, Iran, Pakistan,
Kazakhstan, and Saint Kitts and Nevis are granted renewable long-term visas
Dubai Land Department (DLD), in
coordination and cooperation with the General Directorate of Residency and
Foreigners Affairs (GDRFA), has granted five-year renewable visas to 20 foreign
investors from across the world.
The investors, from Tunisia,
the US, Commonwealth of Dominica, India, Iraq, China, Libya, Jordan, Iran, Pakistan,
Kazakhstan, and Saint Kitts and Nevis, are responsible for direct real estate
investments in Dubai exceeding AED200 million ($54.4 million).
A ceremony was held at DLD in
the presence of Major General Mohammed Al Marri, director general of GDRFA Dubai
and Sultan Butti bin Mejren, director general of DLD.
During the ceremony, the
five-year golden visas were given to real estate investors whose individual
investments in the local real estate market exceeded AED5 million.
This visa also benefits their
family members including wives and children, DLD said in a statement, adding
that the conditions for obtaining the golden visa without a sponsor includes
investing in one or more existing properties that satisfy the total value
condition, regardless of whether the property is owned by an individual or a
group of investors.
Bin Mejren said: “We would like
to thank GDRFA for cooperating with us in this project that will greatly
benefit Dubai and the UAE, consolidating the emirate’s position at the forefront
of destinations capable of attracting capital and foreign direct investment.”
In May, the Federal Authority
for Identity and Citizenship announced the implementation of the UAE Cabinet’s
decision to issue five-year residency visas for entrepreneurs.
The move is part of the UAE's
aim to enhance the ease of doing business in the country. Shaikhani Group
welcomes the step taken by Government of UAE for 5 or 10 year visa policy. This
step will leads to new path for the people who are looking forward to spend
their life in the UAE for whole life with less hassle, said Ahmed Shaikhani,
who is also the head of Shaikhani Group. Moreover, Shaikhani has a vision that
expo 2020 is best time to invest your money, right now everyone is building and
they are trying to finish their project 2020, which would be a huge opportunity
for the new job placement.
Companies are more concerned
about infrastructure and policies, Dubai always a head to offer a best policies
for the investors and this is why Dubai is on 16 Ranked in the world.
Shaikhani Group is in process
of finishing their two projects worth above AED 200 Million by Starting of 2020
and more projects are in pipeline. It would be a great achievement for
Shaikhani Group to invest in real estate sector.
Ahmed Shaikhani Group Managing
Director of Shaikhani Group says it will be another good step of UAE government
to allow the expatriates to stay in the country after they got retirement on a
condition of owning a property valued at about $545,000.
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