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Property must be worth Dh1m for new real estate visa: official

Emirates 247
Property investors can access banking services through international bank accounts (FILE)

Property investors can access banking services through international bank accounts (FILE)


Details surrounding the new three-year real estate visa announced by the UAE government last week are flying in thick and fast.



While this website on Monday spoke to a source who claimed to be in the know as to what was discussed at these meetings before announcing the decision, no official statement has been forthcoming so far. Until now.

An official quoted in press reports today has stated that the value of the property will have to be Dh1million for an investor to sponsor his/her family and stay in the UAE for three years without leaving, after getting the visa.

Emirates 24|7’s source had said that: “A number of proposals were discussed at the meeting with ministry officials and one of the proposals was to restrict stay of the property owner to nine or 10 months in a year. However, the final regulation is yet to be drafted.”

However, Gulf News on Tuesday quoted Major-General Nasser bin Al Awadi Al Menhali, Assistant Undersecretary for Naturalisation, Residence and Ports Affairs, as saying that those with property worth more than a Dh1m will be allowed to stay for three years on the new visa.


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