# Three year multiple entry visa for those who buy property in the UAE



## Editor (Aug 20, 2009)

Foreigners investing in property in the United Arab Emirates will get a three-year multiple entry visit visa instead of six months, it has been decided. The visa extension is regarded as a blatant attempt to tempt back foreign property buyers who have deserted places like Dubai since the global downturn resulted in a huge drop [...]

Click to read the full news article: Three year multiple entry visa for those who buy property in the UAE...
Please come back to discuss the story here in this thread.


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## indoMLA (Feb 6, 2011)

In my opinion, true real estate investors aren't going to be interested in a 3yr visa. For real estate that is short term. I think Dubai is trying to attract the 'Flippers' back to the country. Prices are down and rents are low and getting flippers or short term investors back in the game will lead to prices going up since flippers create artificial demand and can shrink the housing supply fairly quickly. 

Nothing is mentioned if the visa is renewable. I don't understand why they don't just issue a visa to an investor for as long as they have a property? That would make the most sense and also attract legit owners and investors.

Again, my thoughts.


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## R_Smithy (Jun 13, 2010)

Does the 3 year visa apply only to new properties that are bought after the rules have been changed or can you use a property that you already own to get the 3 year visa?


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## Moe78 (Oct 29, 2010)

The problem is the government changed the rules before and will change them again. Unless they show investors goodwill they will not risk coming back. The government previously promised residency to property owners, then said it did not promise them that, then changed it to 6 months.

multi entry visit visa is still ridiculous. It means that you still can't live here, retired, rich or whatever and you can't get a driving license or purchase a vehicle or any of the other things residents can do yet you have invested more in this country than most residents and locals have.


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## Junaer (Jan 7, 2011)

Moe78 said:


> The problem is the government changed the rules before and will change them again. Unless they show investors goodwill they will not risk coming back. The government previously promised residency to property owners, then said it did not promise them that, then changed it to 6 months.
> 
> multi entry visit visa is still ridiculous. It means that you still can't live here, retired, rich or whatever and you can't get a driving license or purchase a vehicle or any of the other things residents can do yet you have invested more in this country than most residents and locals have.



The optimism of the guy in the article is so hilarious. To be honest Dubai is more fun on a visit visa. If someone wants property in a foreign country then they have many options in countries that do provide even a dual citizenship and are lot more secure.

I enjoy just the shopping here to be honest. I just do a job because its kind of obligatory. Sad! I consider marrying a working woman who earns 30000+. Ill take care of the babies. No shame in doing that!!! Media just wants you to believe otherwise


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## marc (Mar 10, 2008)

Great news as long as there is no fine print, almost all serious investors still come from India, Pakistan and Iran as well as conflict zones, Bahrain, Libya, Algeria, Yemen e.t.c 

These are the investors the UAE is focusing on with this new visa rule. Good leap forward, plenty of work to do but a step in the right direction.


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## Canuck_Sens (Nov 16, 2010)

The hole is way deep.

Real Estate prices cannot go back to the levels they were in 2007. No Way. There is no economic activity that would spur such growth. Even with speculators.

Nobody wants a new bubble. There are people there dreaming that the prices will go back to the same levels within couple of years. I would say "Time to wake up" because there has to be a massive economic growth to support that.

I would say the three year Visa is a start, but....

If they wanna fix things I think they should start with the basics like:

a) Stop building. We already have tons of "empty" buildings

b) Be realistic about prices and let the market decide. The 5% rule my gosh does not make any sense at all. Keep charging unrealistic prices and see people moving.

c) There are people who get their housing paid. These people would buy a property if the allowance was paid in cash. I fall under this category and I would sure buy and definitely go after a rent-to-own scheme.

d) Be smart for mortgage. Offer better rates , the spread is insanely huge here. ask for a higher down payment> than 20%


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## marc (Mar 10, 2008)

Of course, its not going to state a mass rally of buying but it is a positive step. 

Banks are also lending now ( rates still high) but they are being very competitive with each other. even if there is 1 CEO who takes care of all of them!


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## Gavtek (Aug 23, 2009)

Waste of time, by the time the visa expires after 3 years, you'll be lucky if the foundations have even been laid.


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## wandabug (Apr 22, 2010)

Gavtek said:


> Waste of time, by the time the visa expires after 3 years, you'll be lucky if the foundations have even been laid.


That would only apply to off plan sales.

I don't think this will make a huge difference to the current market but it will certainly help. No one is expecting prices to reach previous levels when it was grossly inflated (mostly caused by flipping), but that is the situation all over the world. It is not limited to Dubai.


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## GlabrousD (Apr 21, 2010)

It appears the visa is valid in 6 month sections and requires a fair number of financial hurdles to be jumped... still not an easy or transparent process.

There are far better places to invest in property.


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## JBY (May 17, 2011)

Hi Guys,

Let me just say that before anyone here jumps the "yay Dubai saved the day" ship, This visa means nothing. First of all, investor confidence has been destroyed, in 2003 - 2007 a huge majority of ppl invested for the promised of "life-time" visa which can renewed every 3 years, when Dubai changed its mind that's exactly when the crash happened, along with the financial crisis. 

Now they come up with this new visa scheme, which requires a minimum of AED 1 million investment to obtain it, along with many other requirements, some nationalities also blacklisted. Its not even clear what the process will be and if it ever will be renewable, and MOST importantly, there is NO guarantee that it will be a permanent thing. So for those thousands who want to retire in the UAE (most ppl who lived their whole life in UAE) who knows in the future they might change their mind again. 

Prices in Dubai will never go back to what they used to be, People need to wake up, including current landlords... a good example is even though rents are crashing, landlords are still in a dreamscape that "rents might begin to climb" soon. A good example is discovery gardens, i believe 2 years ago rents were as high as AED 80,000 for a studio, now its for 25,000 and not so many excited to grab them !


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## VitaEsMorte (Apr 26, 2010)

Be patient! I think UAE citizenship will follow after one year...
;D


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## Moe78 (Oct 29, 2010)

Yup you get six month citizenship


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## Tropicana (Apr 29, 2010)

JBY said:


> Hi Guys,
> 
> 
> 
> Prices in Dubai will never go back to what they used to be, People need to wake up, including current landlords... a good example is even though rents are crashing, landlords are still in a dreamscape that "rents might begin to climb" soon. A good example is discovery gardens, i believe 2 years ago rents were as high as AED 80,000 for a studio, now its for 25,000 and not so many excited to grab them !


Even now, some landlords are pretending to be optimistic and are quoting high prices or asking for rent increases claiming 'Dubai is back", or rumors of 100,000 Arab businmessmen coming from neighbouring countries and all buying apts. 

Its once you reject their increase and offer to vacate that many of them come honest and let you stay at the same rate


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## JBY (May 17, 2011)

Moe78 said:


> Yup you get six month citizenship


:lol:


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## brittp (Jun 13, 2011)

JBY said:


> Prices in Dubai will never go back to what they used to be, People need to wake up, including current landlords... a good example is even though rents are crashing, landlords are still in a dreamscape that "rents might begin to climb" soon. A good example is discovery gardens, i believe 2 years ago rents were as high as AED 80,000 for a studio, now its for 25,000 and not so many excited to grab them !



Somewhat supported by this article from today suggesting Dubai prices will drop by another 10% before stabilising. Just one opinion I know, but it seems like a common one...

More property floods Dubai, Abu Dhabi rents drop 9% - Arab News


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## manaj (Jun 7, 2009)

Wouldn't buy even if i had a billion to spare.
Back in blighty it's the weather that's unpredictable and changes on a daily basis.
Here its the rules:


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## Seabee (Jul 15, 2010)

As they did with the earlier 6 month visa, the media and real estate are misrepresenting it as a residence visa and the answer to all the oversupply problems.

In the real world the law hasn't yet been issued, there are no details announced, there are conflicting statements from officials (you have to leave the country every six months/you _don't_ have to leave the country every six months). There is no information whether it's renewable, whether it's a multi-entry visit visa or a residence visa - and that affects whether you can get a driving licence, DEWA etc etc . There's no clarification on what the Dh1 million value is based on - purchase price or current value. And if it's current value, who decides on the figure.

The story should never have appeared until it was all finalised.


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## desres (Oct 31, 2009)

This 3 yr Visa is about 3 yrs too late .. serious investors have moved onto better things & lots of them still have massive debt's because of the Dubai property whirlwind ... " once burnt twice shy "

The only investor interest here now are the ones just sitting on the fence waiting for that really good distress sale that some poor owner cant make the payments on any longer & sells at a massive loss
Why would anyone even think of investing - say as a rental investment, rents are still going down & will continue due to the glut of properties available & more ready for completion, just doesent make sence 

The 3 yr visa is an attempt at regaining investors interest but with declining rents & sales very thin on the ground & the probability of them stopping it again - why o why would anyone even consider buying anything even with a 10 yr visa 

As people have mentioned some real estate people / owners seem to think that the market will come back how is that possible when a market has declined as much as this .. when its been a virtual flippers market that drove the prices sky high & Developers building too much too fast to keep up with the demand but what they didnt bank on is when the flippers finish flipping whats left ! 
a big mess


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