Dubai’s five-year visa programmes take shape
One of the major growth drivers of the Dubai economy has always been the real estate sector. And the Dubai government has consistently introduced and implemented policy initiatives and measures to further improve this sector to retain investor confidence and increase foreign direct investment.
Among the various new visa initiatives launched earlier this year, the five-year property investment visa has drawn a lot of attention from investors as the key pre-criteria for a residency visa application is a minimum investment of Dh5 million in the real estate sector. Investors are currently entitled to apply for a three-year property investment visa, which is facilitated through the Cube centre at Dubai Land Department, subject to a minimum investment of Dh1 million in acquisition of the property.