Permanent Residency in Dubai - Golden Card

Apartments for rent in Dubai

Historically, the UAE has had a strict policy when it comes to accepting foreigners in their land. However, as you might already have seen in the past decades, the country has become more lenient and made initiatives to attract foreign investors to the country and encourage them to buy real estate in the UAE.

In a recent announcement by HH Sheikh Mohammed Bin Rashid al Maktoum, UAE will now be issuing a Golden Card visa, which allows foreign nationals to become a permanent resident of the country. This is first of its kind and groundbreaking because for quite some time, only 2 to 3 year employer linked visas were given. In addition to that, 5 and 10 year visas will also be issued for expats who invest Dh5 and Dh10 million respectively.

Exact details of the Golden Card visa aren’t fully shared to the public, but it will soon be revealed. Nevertheless, the Golden Card visa would surely provide permanent residency to a foreigner, which can be extended to his/her spouse and children.

The introduction of the Golden Card visa opens a floodgate of opportunities for non-UAE nationals. Among these opportunities are in the real estate industry of Dubai.

The real estate industry is considered to be a long-term investment. For that reason, if you want to attract more investors in the country, you would need to give them the ability to stay for a longer period of time. That’s exactly what Golden Card visa would do.

 The UAE government is hoping that a new permanent visa would generate more foreign investments in the real estate industry. As more people are given the privilege to stay in the country permanently, they would be encouraged to make bigger investments and buy a property for rent in Dubai.

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Location: Dubai - United Arab Emirates

Comments

  1. Sherwoods PropertyJuly 25, 2019 at 5:22 AM

    Hello, Thanks for sharing nice blog with us. this is really very nice blog again to all thanks i am regular reader your website.

    ReplyDelete

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