The UAE has been a firm favourite of investors and developers from across the globe and has always been at the forefront of innovation when it comes to Real estate. The latest move by the country’s government is a new visa regime that will offer long-term residence visas of up to 10 years for certain categories of international buyers.
This is a significant development, making the UAE an even more attractive destination for foreign investors looking to purchase the property. The new visa rules are also likely to have a positive impact on the country’s real estate market, as demand for both residential and commercial properties is expected to increase.
According to these revised visa rules, the conditions to obtain golden and silver visas for real estate investors and start-up entrepreneurs have been relaxed. The visas will be valid for up to 10 years and will be renewable.
The changes come as part of the UAE’s National Agenda 2021, which aims to make the country one of the top 10 economies in the world by 2021. One of the key pillars of this agenda is to attract foreign direct investment (FDI), and these new visa rules are expected to contribute to this goal.
The government is also working on several other initiatives to attract FDI, such as establishing specialised economic zones and offering tax incentives.
This is a major change from the current visa system, which only offers short-term visas that need to be renewed every few months or years. The new system is designed to attract more foreign investors and entrepreneurs to the UAE, as it will provide them with stability and security.
Let’s delve deeper and find out the expected effects of the new UAE visa rules:
Positive Effects of UAE New Visa Rules
More International Buyers, More Investment
Experts believe that these new visa rules will attract more foreign investors to the UAE, as they will now be able to obtain long-term visas. This, in turn, is expected to lead to more investment in the country’s economy and its real estate market.
The demand for both commercial and residential properties is expected to rise as a result of the new visa regime, as investors will be looking to purchase property in the UAE as a long-term investment. This is good news for developers, as it will help boost the construction sector.
Increased Activity in the Property Market
The new visa rules are also expected to have a positive impact on the country’s real estate market, as they will encourage more international buyers to purchase property in the UAE. The increased demand for properties is likely to increase prices, which is good news for investors.
However, it is important to note that the new visa regime will not apply to all foreign investors. Those who wish to obtain a long-term visa will need to meet certain criteria, such as investing a minimum of AED 1 million in the UAE’s property market.
This is likely to have a positive impact on the high-end property market, as more wealthy individuals from around the world are expected to purchase luxury homes in the UAE.
Growth Across UAE
The revised visa rules will help the Dubai property market to grow, as the emirate is a significant destination for foreign investors. However, it is important to note that the new visa regime will also have a positive impact on other emirates, such as Abu Dhabi and Sharjah.
This is because the new rules are expected to encourage more foreign investment in the UAE as a whole, which will lead to economic growth across the country.
Other benefits of the new visa regime include the ability to bring family members into the country on a dependent visa and also apply for citizenship after 10 years.
The Bottom Line
The new UAE visa rules are a welcome development, as they are expected to attract more foreign investment and boost the country’s economy. The real estate market is also likely to benefit from the increased demand for properties.
However, it is important to note that the new visa regime will not apply to all foreign investors. Those who wish to obtain a long-term visa will need to meet certain criteria, such as investing a minimum of AED 1 million in the UAE’s property market.
This is likely to have a positive impact on the high-end property market, as more wealthy individuals from around the world are expected to purchase luxury homes in the UAE.
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