Law on residency for foreign home owners to be ratified this year
17 February 2009
A federal law which will give non-Emirates citizens the right to residency if they own freehold properties (developments which are built in areas chosen by the government in which foreigners are allowed to buy houses) will be ratified by the end of the year, said Nassr Al Minhali, Director General of the Department for Immigration, reports daily The National. The draft law, which has yet to be finalised, will allow owners of properties in freehold zones to obtain a visa valid for six months with the possibility of renewal.
"The visa will be granted to every property owner, regardless of their nationality or the value of the property," Al Minhali explained, adding that the plan "is a safety measure, so that we don't end up in a situation where there are different standards for different nationalities, which would always require the involvement of the Interior Minister".
Seven of the Emirates which make up the United Arab Emirates (UAE) have already adopted similar measures, which are designed to encourage investment in housing. Dubai is amongst these, where a 'residency visa'' is granted for three years, but which does not, however, grant the holder the right to work.