Dubai’s master developer Emaar has denied statements that it is going to grant a multi-year residence visa to its investors.
According to some recent press materials, Dubai developer Emaar Properties was going to give a 10-year residency permit to property units’ buyers in some of its real estate developments, such as Dubai Creek, Arabian Ranches 2 and Emaar Beachfront, among others.
This initiative was said to be in accordance with a government program announced a few months before, and aimed at attracting skilled workers, as well as investors to Dubai, with long-term residence visas granted along with their property purchase.
“Emaar refutes the report by a section of the media that it will provide 10-year visas to investors,” the company said in a statement.
“The issuance of visas falls under the purview of the concerned authorities and Emaar does not have any role regarding the same.
“This is to clarify any misunderstanding that might have been created by the said reports.”
Nevertheless, the Dubai authorities do not deny implementation of the correspondent initiative revealed in May — to grant 10-year residency visas to expatriates and members of their families along with their purchase of real estate units in the emirate, as well as to allow 100 per cent business ownership for foreigners inside and outside free zones. These decisions should only become legally valid after the necessary approvals and finalization by the authorities. The process of applying for residency visa in that case, and the body that will grant permissions are also yet to be defined. But it certainly won’t be on the developers’ part.
In the meantime, you can pick up a home that will give you the right for 10-year residency visa in the nearest future. In particular, Emaar offers a number of luxury residential properties for sale in its flagship projects located in Dubai Creek Harbor, Downtown Dubai and Emaar Beachfront.
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