Admin January 20, 2020
The UAE is recently move to grant Permanent residency (PR) to wealthy investors and entrepreneurs to boost the property market.
In the first round of application, almost 6800 people have been granted PR and a golden Card. The estimated investment worth from these residents collectively about AED 100 billion.
Currently, the short term visa from employment section is holding back the expats in investing and owning real estate property in the UAE. Mostly, they prefer to send money to their home countries.
This permanent residency can change this system and mindset. And all the expats will look forward to the long term investment in the land of UAE. This will achieve the long term investment goal including owning a property.
UAE already offering a long term visa for investors, entrepreneurs and researchers for 5 to 10 years without need of a local sponsor. A minimum investment of AED 5 Million is required to get 5 years visa and 10 Million AED is for 10 years long visa.
Permanent Residence may boost the property market by investment. The 5 year retirement visa is available for the expats those who are investing more than AED 2 Million with an age more than 55.
An UAE federal agency received more than 6000 applicants for investment in UAE in the first seven day stretch of taking in quite a while for long term residency visas.
Developers likewise need to motivator’s with unique schemes that offer some sort of perpetual quality and incentive for money to attract investors in a focused market. They should perceive the expansion in freelance workers and the significance of encouraging conditions that help entrepreneurs.